Current Valuations
 

Looking to make sure insured values are up-to-date.... does anyone have any insight into where Excellence is pricing the 80's vintage SC's?

Thanks!

In general - high 20's, low 30's for the nice ones.

https://www.hagerty.com/valuationtools

Though they still seem to think the Targa/Vert is more valuable than a Coupe. No idea why.

Keep in mind too that most of values you get from places like Hagerty's are based on DMV transactions. In many cases what people report to DMV for the sale of a car is far less than what was paid for it in reality. It has been my belief for many years that most private party car sales are reported under valued, many substantially.

I have declared value insurance..so I look at it as "what would it cost me to replace my car with one just like it, in the same condition."

In Washington state they pull out a book and tell you what your car is worth. Does not matter what you say, the value is what they tell you. So all of the Bill of Sales they see mean nothing - the value is set well before you purchase and register the car.

Valuation.
 

http://forums.pelicanparts.com/uploa...1460650007.jpg
^^^^^
2015 AAA Valuation.

I presume that is for the license tag, right?

You should be able to insure the car for whatever you and your agent agree is a fair and realistic value. You can't get insurance for it as a million dollar car, but a reasonable value is a open market

Excellence has long been talked about in this forum as being one of the WORST estimators of value.

Hagerty is far better, but since they make more money when people raise their coverage level, Hagerty values are clearly biased and should be taken as optimistic.

That cannot be true, since Hagerty's values are all based on condition, and condition is not reported to, or recorded by, any DMV. Therefore, DMV data is entirely useless.

No, this is for sales tax at time of purchase when you transfer ownership.....

Condition of a population of cars can be graphed on a bell curve so with a number of transactions you would easily be able to calculate their categories of 1 thru 4 because you will expect a certain percentage of cars in each category.

That's not true either. First, expectations are not data. Second, and more importantly, your proposal only works if the mean is a condition of 2.5. For many cars, it won't be. For example I've been scouring the market for a Triumph Spitfire in condition 1 or 2 for the last 8 months. I have seen exactly ONE car out of hundreds that is condition 2, and not a single one in condition 1. The market is made up of 3's and 4's almost exclusively. Spitfires are dirt cheap British cars that are typically held together with bailing wire and prayers. They simply are not worth enough for anyone to waste money on fixing it up to any standard higher than "decent driver". On the other hand, consider a Ferrari 360 or 430. How many condition 3's and 4's do you think you're going to find of those models? None. They are all kept pristine except the ones that are wrecked.

Here are 2 real data points for you. I have reconditioned 2 911SC Targas for a seller in the last year. One was original paint Chiffon/chocolate the other a partial repaint Grandprix White/black.

Both cars had sat for years. Both brought back up to condition 2 standards. Both cars right around 100k miles.

They sold for $35k and $30k respectively.

Cooper

Hagerty has recently been 3-6 months behind the market. A nice driver SC? A $30-35K these days. Rough cars needing something are $25k. Very nice condition 3- cars are trading hands for $40-50k.

Definitely a difference between replacement value from an insurance perspective and agreed upon value. Agreed upon, they just write the check for the agreed upon amount. No Curve, no population, etc...

I called State Farm and had mine raised, yet they never sent me any paperwork. I think I should have something in writing to reflect the increase, correct? Or am I just being paranoid?

^^ Weird. State Farm wants me to fill out paperwork on the car occasionally and even come by the local office so they can look at it and take pictures. I haven't asked for an increase on it ever. Other than windshields I've never had a claim.

It's in the May issue, should be available on newsstands now.

Targas are the lowest. The SC Targa is valued at Average $19,800, Good $27,900, Excellent $36,000. All years are the same.

Coupes are valued $22K - $31K - $40K.

Cabrios at $24,200 - $34,100 - $44K.

Just saved you $5.99.

Cheers

d.

Totally what Matt said. The spread is even bigger at the top of the market. A condition 1 SC, which by definition is a concours winning level car, is a 6 figure price tag.

My credit union in San Diego used the NADA classic car guides for value when I financed my car.