Kelley Blue Book Actually Re-Valued
07-30-2010, 08:08 PM
#46
Race Car
It may be true but KBB needed more realistic data obviously. Lord knows where they got their original figures. Even at auctions how many are going through in the teens? My long term 'pushing' at least got them to take a new look apparently. I kept asking them over and over again, "how can serious car buyers take their site seriously when the 993 prices are way off base, not even close?" A simple look at Autotrader, Cars.com, Ebay would convince anyone that these cars don't sell in the teens unless beaten, have title issues, or just in real rough shape. As I said before, they listened. Good for them, and us. From what many have posted here the 'new' values are very mileage oriented however. Their values are still a disservice to many owners here that have higher mileage cars that have maintained them in 'very good' condition. Can't win them all but it was a nice start.
07-31-2010, 10:25 AM
#48
Burning Brakes
Thread Starter
The $13K for mine was for "excellent, as new condition." Their values are still StrekStrekStrekStreked. I think they are doing what they've always done: Take a straight depreciation curve off of list price. That's fine for a Taurus, but they will never have a clue on specialty cars like ours.
08-19-2010, 11:31 AM
#49
Instructor
Join Date: Jul 2007
Location: Greensboro, NC & Highlands, NC (on the real roads)
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I just talked with my insurance agent and Hagerty's has agreed to insure my 993 (they already insure the '67 912), since I do not use is as a daily driver. They also will have an agreed value. Questions arises as to the value to use. Hagerty's has a Cars That Matter book, of which I do not subscribe. Does anyone on this forum subscribe to that and what is the value of a '96 Coupe, tip, 35k miles?
Thanks in advance.
Thanks in advance.
08-19-2010, 01:21 PM
#51
Nordschleife Master
I just tried to insure my Cab with Hagerty for agreed value, but they rejected my application because my daily driver, a 2003 Infininty G35 with 54,000 miles on it, was more than 5 years old. I tried with them again through a local agent that said they could 'get around' that requirement, and was rejected again for the same reason.... WTF??
08-19-2010, 01:24 PM
#52
Rennlist Member
If you're a member of PCA, they have an appraisal service. Becoming a member was a prerequisite for insurance coverage through Leland West. I was able to get agreed value of $38K with no problems at all ('95, 25K, 6sp). Figured I could remove the $8K seats if the car was totaled and replace with the OEM's.
08-19-2010, 08:09 PM
#54
Three Wheelin'
but they rejected my application because my daily driver, a 2003 Infininty G35 with 54,000 miles on it, was more than 5 years old.
08-19-2010, 09:09 PM
#56
Nordschleife Master
If you're a member of PCA, they have an appraisal service. Becoming a member was a prerequisite for insurance coverage through Leland West. I was able to get agreed value of $38K with no problems at all ('95, 25K, 6sp). Figured I could remove the $8K seats if the car was totaled and replace with the OEM's.
"Bruce,
I'm not trying to 'bully' you into anything. I don't want an appraisal by you any longer because it's obvious you don't have the expertise or competence to appraise a low production factory 'special' model like mine. And, I'm not being rude, Bruce, I'm telling you that your appraisal isn't just a little off, it's grossly inaccurate based on the information I gave you. I spoke with my PCA friend last night and his reaction to your appraisal was "he must have misunderstood what the car actually was .." but we both know that's not true. After I forwarded these e-mails to him to review, all he could tell me was to just move on. As far as your 'experience' is concerned, who cares? Obviously your 'process' is horribly flawed when it's used to evaluate Porsches that are outside the 'run of the mill' production box. And no, I won't be passing on my friends email address to you and I sure as hell won't be passing yours onto anybody else after my experience. If you want to discuss your 'process' with somebody why don't you contact the San Francisco Automobile Appraisers Association, I'm sure your methods are similar."
Tried them. They no longer provide new clients with an automobile insurance option through the 'Chartis' network.
Hagerty is a broker and doesn't actually provide the insurance. The carrier they use doesn't like older cars as DDrivers because they assume with an "older" regular car you'll be more tempted to use the collectable car from time to time when it's "supposed" to be used just for fun. Regular use cars are generally driven in more traffic, parked in riskier places, etc so presumed to be at greater risk. I know, sounds pretty goofy but I believe that's the logic behind it. Does your wife drive a newer car? If so that may be enough.
I ended up having two independent, hi-end Porsche shops do evaluations and appraisals for me and just put the car on my Liberty Mutual automobile policy. My broker allowed me to 'attach' those papers to the insurance binder in their office as a benchmark. My insurance went up $90 dollars a year over what I had been paying for the Infinity and '95 993 because they mistakenly had us down for 30K miles a year on the Infinity, so when they rewrote that policy, the difference covered the Cabriolet ...
11-13-2010, 09:00 AM
#57
Burning Brakes
Thread Starter
TTT for those that missed it. Try again for different mileages. They adjusted again. Heavily skewered towards the low mileage cars which is understandable but unfortunate for those that have 'like new' higher miles cars with all the maintenance done.
11-13-2010, 10:39 AM
#58
Burning Brakes
Thank you for beginning this thread. Eye opening for sure. Hopefully the lending banks are using this for their basis for 99 loans.
I currently have my 97, C4S with 27,400 miles listed on Rennlist for $54,000.00 (reduced) that is attracting some potential buyers at the moment.
KBB has it valued at between $61,380 (Excellent) and $56,980 (Good). This does not take into account all of the extras (RUFS, M03O, sport seats, etc).
KBB: http://www.kbb.com/used-cars/porsche...&mileage=27500
Rennlist link: http://mall.rennlist.com/scripts/fea...uery=retrieval
Come and buy this bargain before it ends up in a container headed back to the Fatherland!
I currently have my 97, C4S with 27,400 miles listed on Rennlist for $54,000.00 (reduced) that is attracting some potential buyers at the moment.
KBB has it valued at between $61,380 (Excellent) and $56,980 (Good). This does not take into account all of the extras (RUFS, M03O, sport seats, etc).
KBB: http://www.kbb.com/used-cars/porsche...&mileage=27500
Rennlist link: http://mall.rennlist.com/scripts/fea...uery=retrieval
Come and buy this bargain before it ends up in a container headed back to the Fatherland!
