Insurance Auction Carrera GT
#17
I'm not familiar with these types of auctions, so please help me out. Using the 911 Turbo that's crunched as an example, it has an ACV of $86k and an estimated repair cost of $48k. Does that mean they think the car is worth roughly $40k in present condition?
#18
Rennlist Member
Actually, the passenger side airbag on the Ford looks deployed but someone stuffed the cover back on again. Typically an airbag won't deploy if no one is in the seat, but that doesn't apply to the driver's side airbag, they don't have a pressure sensor on that seat.
#20
Race Director
If you don't mind a "salvage title" on your pink slip, here is a Carrera GT at the insurance auction in Portland Oregon. It doesn't appear to need any work. It is currently at $135,075 and the bidding will end tomorrow. Check out the "high end cars" section, there are two Lambos, a Ferrari, and Bentley at the Portland auction tomorrow, that have clear titles. They are repossessions. I guess the economy is hard on everybody.
https://www.iaai.com/Vehicles/Vehicl...#anchorDetails
https://www.iaai.com/Vehicles/HotPicks.aspx?sID=highend
https://www.iaai.com/Vehicles/Vehicl...#anchorDetails
https://www.iaai.com/Vehicles/HotPicks.aspx?sID=highend
#21
Race Director
Estimated cost of repair usually low. Sometimes way low.
I haven't look at the 911 Turbo's pics, so I don't know the extent of its damage but a proper repair of this car very very expensive. The running gear must be removed, the car placed on a Celette Bench and proper jigs/fixtures used to measure all hard attachment points. Any found out of position will need to be pulled into position. This is a very time consuming process and one where most insurance companies scrimp to cut costs.
Also, I'm not sure at what point the car might be declared unrepairable based on how damaged the chassis.tub is, how many points out of position, how many major structural areas too severely bent to be straightened and must be cut out and new ones fabricated and welded in.
Next for any remaining warranty to remain in effect the car must be repaired using new factory parts bought from PCNA, and bought through an authorized Porsche dealer.
New factory parts very expensive. One new hollow spoke front wheel for my 03 Turbo cost over $1800. Headlight was nearly $2000. And so on.
Furthermore, if any warranty is desired on these new parts and the systems they become a part of mechanical work must be done by a qualified Porsche tech. My local Porsche dealer charges $150/hour labor and does not discount for any body repair shops. (Body shops are noted for doing a poor job on the mechanical repairs and I would insist any mechanical work be done at a dealer, in its service department. Most body shops will agree then attempt to sneak repair the car in house. But an inspection by a qualified tech will quickly turn up that the work is subpar.)
Not only are parts, labor expensive, but overseeing the proper repair of one of these cars very time consuming. Unless you have a superior body shop that you can trust you have to monitor the work and make sure it is being done properly. Generally if you catch the work not being done properly the shop will do it right, but you have to really be on your toes.
Thus the cost of properly repairing one of these cars is very very high.
And I don't think you want one that is not properly repaired.
There's a reason why the car is being auctioned off instead of being repaired.
It is likely no better than junk, a parts donor car at best.
Sincerely,
Macster.
#23
With the passenger side airbag cover out of wack and the whitish stuff in the seams of the seats I figure the airbag panels were popped back on and the car mopped up a little. That talc powder packed in with the bag to keep the bag from sticking is what I think is in the car seat seams.
#24
Race Director
With the passenger side airbag cover out of wack and the whitish stuff in the seams of the seats I figure the airbag panels were popped back on and the car mopped up a little. That talc powder packed in with the bag to keep the bag from sticking is what I think is in the car seat seams.
But in my direct experience there's not much residue. One is sitting in the seat when the thing goes off and the powder is in the air inside the cabin, but with opening of the door(s) and movement and wind and such gets dispersed.
As you can see in the pic of the seats of my 08 Cayman S there's not much powder in evidence. This pic taken a day or so after accident. Car was parked with windows up and doors closed.
If a car is exposed to the elements it can gather a good layer of dust and debris in no time.
This of course doesn't prove the GT's airbags didn't fire. Frankly, given the extent of the damage the cost of the airbags (and possibly dash -- the passenger airbag deployment in my Cayman destroyed the $2200 dash...) is of little consequence.
Sincerely,
Macster.
#25
Three Wheelin'
Thread Starter
67FJ45, I have never paid too much attention to the auction's estimated values. The ACV is the market value of the car (it is frequently way off the real value). The cost to repair is probably the estimate that was used to total the car. My current 996 was totaled due to a dash fire. The insurance company paid about $40,000 to the previous owner (a fellow Rennlister). The dealer estimated about $23,000 to complete the repairs. The previous owner was given the choice to have it repaired or not. I bought it for about $11,000 and spent $2,000 on parts (plus about three months of spare time) to repair it.
Paspar2, you have to be a member to see the bid amounts.
Steve, the CGT is waaaay out of my league.
Macster, I agree with you 100% on that turbo. It would make a great engine & interior donor for one of our cars....that would be a fun and challenging project. I guess my airbags had a little extra powder.
Paspar2, you have to be a member to see the bid amounts.
Steve, the CGT is waaaay out of my league.
Macster, I agree with you 100% on that turbo. It would make a great engine & interior donor for one of our cars....that would be a fun and challenging project. I guess my airbags had a little extra powder.
#26
Race Director
67FJ45, I have never paid too much attention to the auction's estimated values. The ACV is the market value of the car (it is frequently way off the real value). The cost to repair is probably the estimate that was used to total the car. My current 996 was totaled due to a dash fire. The insurance company paid about $40,000 to the previous owner (a fellow Rennlister). The dealer estimated about $23,000 to complete the repairs. The previous owner was given the choice to have it repaired or not. I bought it for about $11,000 and spent $2,000 on parts (plus about three months of spare time) to repair it.
Paspar2, you have to be a member to see the bid amounts.
Steve, the CGT is waaaay out of my league.
Macster, I agree with you 100% on that turbo. It would make a great engine & interior donor for one of our cars....that would be a fun and challenging project. I guess my airbags had a little extra powder.
Paspar2, you have to be a member to see the bid amounts.
Steve, the CGT is waaaay out of my league.
Macster, I agree with you 100% on that turbo. It would make a great engine & interior donor for one of our cars....that would be a fun and challenging project. I guess my airbags had a little extra powder.
I know I was knocked not quite out for a few moments (impact from side drove my head into side glass -- side air bags did not fire) and when I came to I was dreaming I was asleep on nice warm pillow. But I inhaled quite a bit of the dust cause my nose and mouth near the vent holes in the air bag. Caused me some sore throat and sinus trouble for a month or so afterwards. However, my point is there was not any dust on inside of the car. I have pics of dash and seats from other angle and well they look as free of dust as the seats do in the pic I posted.
Just a heads up for anyone unfortunate to be in accident and have air bags deploy. When safe to do so get out of car as soon as possible. Avoid breathing in the dust. Talc powder or corn starch may be "harmless" but they are still an irritant to the throat and sinus. Also, the oxidant in the airbag does not burn completely and you can inhale this. The oxidant burns and makes nitrogen (IIRC) which may be irritant as well.
Sincerely,
Macster.
#29
Three Wheelin'
Thread Starter
PasPar2, the last bid listed on the CGT was $135,075. I would have had to watch the auction (live online) to know exactly what it sold for. The green Lambo is relisted. At the Portland auction, you can win the bidding and the seller can reject your offer. The last car that I bought there, (04 BMW 330i) I won at $4,000. They called me and said the seller rejected my offer, but would take $8,000 for the car. I declined. They called me a few minutes later to advise that the seller reconsidered and accepted my $4,000 winning bid.