prescott

What resources are you using to value the selling price of your 928? This would also apply to insurance valuation. TIA!
Brian

Zshark

Hagerty valuation tool helps, but Colossus bestrides the distinctions between condition level. Probably only 10% of 928s fall into their designation of concours and excellent combined. So that leaves 90% to be split up between good and fair. This is Hagerty's fair condition:

vehicles are daily drivers, with flaws visible to the naked eye. The chrome might have pitting or scratches, the windshield might be chipped. Paintwork is imperfect, and perhaps the body has a minor dent. Split seams or a cracked dash, where applicable, might be present. No major parts are missing, but the wheels could differ from the originals, or other non- stock additions might be present. A #4 vehicle can also be a deteriorated restoration. "Fair" is the one word that describes a #4 vehicle.

In my humble opinion this could easily represent the majority of running and driving 928s. I think to get a more accurate figure, you just have to look at a lot of auctions, ads, use this forum, to see what things are actually selling for.

Wisconsin Joe

For the most part, insurance valuation needs an appraisal.

That can be a challenge.
I was looking to get one this past summer.

The local stealership (which did one for my 944 back in 05) would only give me a 'trade in' value.
The area Porsche specialist declined. They specialize in the air cooled ones, so they didn't really feel comfortable (which is understandable).

Any of the 'valuation tools' on the various websites are going to be suspect.

Speedtoys

If they reflect the buying market, why would they be suspect?

Jmcmahon66

Take the summation of how much money you've put into the shark, and divide it in half .... I like to look at the recent auctions on BaT for some comparison of quality 928s.

SteveG

You might go to Bringatrailer: search for "porsche 928" it will bring up all that have auctioned on the site, some will not have met the reserve. You will have to open each "dot" on the graph and record your MY. Finding a couple of examples of your MY would then involve looking at the auction and analyzing how comparable the examples are (5-sp v auto, etc.) to your car. A rough tool perhaps.

Harvey928

I took the simple approach and contacted AMIG through the Corvette Museum page. I have guaranteed values on all 3 928s. They asked for pictures and then we agreed upon what they would insure. Each year I can increase them accordingly. Which I raised them 1k per year for the previous 2 years. I know the price I have is way more on 2 of them and less on the one, but they average out well. I have 18k for my 79, and 83. and 40k on my 91. around 800 a year my cost for all three.

Let me know if this helps.

Harvey

upstate bob

That's a good approach. Simply insure the car for a fixed amount. I really should do that myself.

Petza914

When doing my agreed value policy with Grundy on all my vehicles, they have 3 different classifications that they fit into - Exotic, Classic, Regular.

My 914 and 928 are Agreed Value Insured as Classics
My RUF 997 as an Exotic
My wife's 997 C2S, Cayenne TTS, GMC Pickup, and daughter's BMW X5 are insured as Regular. The Cayenne should really be in the Exotic category as a 1 of 416 brought to the US that year and a 1 of 1 widebody conversion 09 turbo S, and the lowest mileage one in the country, but since it's our family vacation car and won't always be garaged (outside at hotels, long distance trips from home, etc) it didn't meet all the criteria for that category.

I bring this up because the Agreed Values remain fixed year to year in both the Exotic and Classic categories, but get reduced each year as the vehicle ages in the Regular category.

To establish the values that they're insured for, I provided the actual costs and sources of the parts used for the build of all of them, along with photos, and they didn't have any issue with the values based on that information. So don't necessarily take your investment and divide it in half - you should be able to insure them for the dollars invested in them. Can you likely sell them for that to someone else - no, which is why a normal appraisal will provide a low value relative to your investment in the vehicle.

The only way I'll get my money back out of my 928 is to drive it off a bridge wearing a parachute ala Vin Diesel style in XXX, but I'd rather just keep it. Most of these vehicles will end up going to my son in 30 years or sooner anyway (providing gas burners are still allowed on the roads) so I'm really just worried about ending up completely upside down financially in one if a texting driver happens to total one out, and the AV policy protects me from that. The 928, the RUF, and the Cayenne aren't really rebuildable in the event of a major accident - too many custom parts and too much labor for them to not just be totalled out, which is what I'd prefer anyway, and I'll start again on a blank canvas.

Speedtoys

6.5.0

What operating restrictions do you have?

GeorgeM

I'm with AMIG through NCM as well. They have 1K, 3K and 6K mileage tiers as well as unlimited. I also have an option so that I'm covered for the occasional commute to work. Some insurers I spoke to had no such provision.

GT6ixer

I used actual sales data from BaT to value my car based on mileage. My car is essentially stock. The attached pdf is what I sent State Farm last year when getting my classic car insurance policy. They agreed with the valuation I provided. I plan to update the valuation with them every other year.

77tony

another baromoter...”Sold” cars in green: https://www.ebay.com/sch/Cars-Trucks...p2045573.m1684

prescott

Thanks guys! I'm updating my agreed to value NCM insurance policy soon, and needed a metric of some kind that would compare condition, mileage, transmission and MY. Hence the post. BAT sale prices seem to be a good metric to go by, and one I hadn't looked at! Thanks for the tip!

Maybe I'll sell in a few years, but till then I'm having fun with my redsled! Brian

hacker-pschorr

One option is to hire an actual automobile appraiser. My friend Roy Da Silva does just that, he's been appraising collector cars for about 22 years:
https://auto-appraisal.com/about/

Curious which shop you are referring to. There are three in this general area I would trust with a 928 or any Porsche, and one specifically specializes in 928's. It's a moot point for this discussion since he doesn't do appraisals either.