Tom R.

With a rebuilt motor with 1,400 miles on it that I have receipts totalling $6,000, 74,500 miles, no paint work ever, paint in excellent condition, 12 way 928 seats, Koni yellows, 17" boxster rims with $200 in color center caps and Michelin Pilot Sports with 3,000 miles on them, a recent radio and new speakers, no cracks on the dash, no marks on the body, excellent carpet and interior. That's the big stuff.

Are you ready.

Should I laugh or cry?

$10,134!

Now I will take the information you guys sent me and start the battle.

Mike S

You might be better off taking the 10k...buying the car from them for 1k and selling the parts off.

v944god

How can he buy the car if it was stolen?

Devia

Mike, his car was stolen is the problem! He has to fight them for every penny above the $10K mark.

- Julie

ERAU-944

yeah good call. they'd have to have the car first... smooth mike.

tom, take it to em with what the other 'listers gave you, and see if you can get what its really worth!

that sounds like what a reasonable middle of the road average S2 should go for, but yours definitely deserves a bit more.

-Michael-

IceShark

What may be best is to put together your claim package all nice and neat along with an example cover letter. Go hire an attorney for a few hours and have him rewrite the cover letter and your demand and send that into them. They are not used to that happing first thing off the bat on a stolen auto claim and may move them to get this over quick.

ewainwright

Ouch,

I am impressed in that they have responded to you.

rpm's S2

The August issue of the Porsche Market Letter had a 924/944/968 price update that listed a median value for a 89 S2 at 10,18, and a High value as 13,900.

This is where a PCA valuation certificate can be worth its weight in gold. I know this won't help you Tom, but it might help someone in the future. Best of luck!

From the PCA website:

The PCA Valuation Program

The Valuation Committee was established by the Executive Council in 1979 to help PCA members insure older model Porsches. There is no charge to PCA members for this service.

Specifically, there are two problem areas in which we try to help. One, obtaining a proper level of insurance coverage for an older Porsche that might otherwise be considered nearly valueless by an insurer, and two, establishing a proper value for an older Porsche in the case of a claim settlement dispute where the owner thinks the recently-deceased Porsche is worth more (sometimes considerably more) than does his insurance company.

Tom R.

I am preparing a package of all the information my kind rennlist brotheren sent me, along with ads from panorama, and my discussions with the sellers.

I will send it to them on my legal letterhead since that is the nice paper I have at home.

Ralph,
I got a pca valuation, but it isn't very helpful here since it takes an average of asking prices.


If you look at either the sticky post or another post i put up, I took Pete's 944 and brought what he paid up to about 16000 go get it into the condition mine was in. i am taking what everyone sent me and making a neat little claim package.

my adjuster is sweet, just doesn't understand porsches. i started to educate her today on interference motors, and $1000 sets of shocks after labor & alignment are incorporated.

pete944

Go get 'em Tom.

Incidentally I have a spreadsheet with all the modifications and upgrades that I am going to do with my car and including the purchase price it totals around $11,000. That's with me doing ALL the labor. In the end the car will be perfect but it will still have 175,000+ miles.
$16K sounds right. Don't take less than $14K.

IceShark

Yeah, I knew you were a lawyer, I tought it may look like it will be bigger trouble to Geico if there was another attorney sending in the letter.

Tom R.

Nah,
send it on my letterhead. this way they think they are dealing with a shark!

it will probably be a three or four page letter explaining why porsches are different from camaros. and i will show her the ad for my camaro, the book for my camaro, and why i paid almost twice the book for my camaro. then equate it to the porsche.

also if i take her 10,000 offer get her to add the wheels and seats i am up to about 13000, then i just have to nudge her a little on the motor.

Ag951

Just make sure Geico buys you a nice dinner before screwing you.
My car is valued at $12,500 by my insurance company. And that's for an '87 951.

The moral of this story is Geico sucks! (Progressive sucks too, from what I've heard).

Fishey

Tom I hate to arguee this but I really think that $10,134 is a price well within reason. The things you listed were all mearly "mantinance" except the wheels. Now the wheels might ad a small amount of money? lets say 1,000 and painted center caps are not going to get you much. From 944s2 coupe's I have seen for sale the nicest s2's sell for around $11,000 (That would be in condition identical to your car.) $16,000 is 944 S2 cabriolet territory.

Tom R.

Fishey,
Not arguing here either. Take andy's S2. after paying about 9k for the car he had to put close to 2k into it, doesnt have new rims or the seats. has a clutch of unknown age, time on the belts etc, and has 20k more miles. I think i will get them up to 15k.

An 11k S2 will be a 13k S2 in no time. dont forget just shocks on our cars are a $1000 job.

I dare you to find an S2 with rings, rebuilt head, cam chain and tensioner, new water pump, etc. done within last 1500 miles for 11k. forget about the shocks and wheels, just find that car, we can add from there to make me whole.

I dare you to find an 11 year old crapmaro with 32k miles on it for less than i paid (9500 with fixed radio and fixed alarm), and i paid about 3k over the highest retail book. the books added a whopping $400 for the low mileage.