I am switching my insurance to a agreed value policy so I needed to get an appraisal. I don't have a lot of options in my area. I ended up going to a classic car guy, think corvettes and Amerian muscle. He seemed knowledgable and friendly. He was very fixated on the paint. I'm no expert but I think the paint looks fine, he asked and I told him the car had been been at least partially repainted by the previous owner after it had been keyed. He had no interest in hearing about the mechanical work I have done on the car. He is writing up the appraisal and will have it next week. 88 S4, 125,000 miles clean original interior, no accidents on a clear car fax. What's' your guess?

 

Ok I'll go.first. My guess is he will come in between $15k and $18k. What is it actually worth? Well that's so subjective. The simple and correct answer is that it's worth what the next guy you sell it to pays for it.

 

Hagerty does not require you to get an appraisal provided the amount you are looking for is not outlandish. Their policies are stated value, and their deductibles are $0 (I.e. First dollar physical damage coverage).

My guess is that your car will appraise at $20,000. Nice color!

 

On its own, Hagerty raised the value on my similar car from the 18K I gave it originally, to 19K. I ought to bump it up a little more.

Hagerty's condition scale is oriented around concours results. Most collector cars were not good drivers (by modern standards) when new, and definitely aren't now. Our cars are unusual in that regard, so mechanical condition is unusually important to us. But not to Hagerty nor your appraisor. Perhaps not to the next owner of your car, either.

Agreed value insurance is better, since it can be what will make you happy (kinda) if the worst happens. No one can tell you what that is except yourself; it can be irrational (within bounds), but it will cost you in premiums.

I think I've read that stated value is different. That it requires explanation about what it really means is a disqualifier for me. Insurance is regulated by states, so the requisite explanation must be local.

 

need a little more info. 5 speed or auto? Limited slip diff or not? Leather option on the interior or vynil dash/pod? Pic of the engine bay and interior would also be helpful. We can give a pretty good estimate with the additional info.

 

I'm moving over to Country Companies, they are giving us a very competitive price across all our needs. The 928 is a small part honestly.

I guess my view on insurance is replacement value, how much would I have to spend to replace it.

Auto, vinyl pod, but it is new and I'm not sure about the diff. I'll get some pics of the engine and interior but I would say they
are average to above average. I've also done TB/WP, PKT, new shocks, brakes and fuel lines.

 

Do some research on policies. You want Agreed Value.
Stated Value is next to worthless and any agent that claims it's the same as agreed value is either stupid or a con man.

https://www.hagerty.com/articles-vid...value-coverage

 

Perhaps I mixed up my terms, I'm getting a policy that pays the appraisal amount, not ACV.

 

My 88 s4 manual just got an agreed to value policy thru Corvette owners for $25k. After purchase and bringing it up to snuff, that's what I'm into mine for. If your interior and exterior are in good shape, and you've done all the maintenance to get it up to snuff....it would cost about that to replace it.... love your color interior and exterior....never seen one in that combination around here!

 

I would guess value somewhere around $20K +/-. For that amount, an agreed value policy with Haggerty is quite reasonable. I would go with that rather than stated value.

 

If he had to ASK if it had been painted he is not much of an expert...... and yes mechanical repairs do NOT add much value because a none running car is just being returned to functionality. If the A/C blows cold that is ALL that 99% of the buyers care about. Same for most all other repairs.
Having just spent the weekend in Vegas at Barrett Jackson you see that about all that matters is does it look GOOD to someone with he money to buy it to DISPLAY. Not that there is anything wrong with that. But most there are NOT buying a car for transportation Same people wear a Rolex to "tell time".....

 

You can't do Agreed Value on a daily driver you take to work. In that case you are stuck with Stated Value. But otherwise yes we all recommend Agreed Value.

 

yes that is correct, but I do not see where the OP was going to use it as a DD. However, even as a sometime DD, you can still get agreed value - so long as annual mileage stays below 5K, and the car is parked under cover.

 

Looks awesome, by the way. Considering what I paid $14K to acquire, which then appraised for $15,200, I would suggest yours should be way north of $18,000.

 

Collector car "appraisals " are much like California real estate appraisals..... they are pretty much meaningless. And many paid appraisers tend to shoot high to keep people happy So they refer their friends....