[JMarsa]

I don't expect much feedback, but in case anyone does have any since I'm working on a car much along the lines of Perple76's (upgraded to Gen III engine, T56 trans, upgraded brakes, road racing suspension, paint ect).

I realize the economy sucks and everyone's selling or holding...I get it. Nada lists 4500-7K for a solid base car and then add upgrades on top of that. Has anyone seen one sell for more than 10K? Is there a better source for market value for 4th gens?

--JMarsa

 

[Philip]

Receipts and a certified appraisal are about the best you can do to get it insured to cover your loss. As time goes on the price will rise to unaffordable just like every other model has. In the meantime I plan on finishing mine, driving it and just enjoying it. My biggest issue is going to be making sure it is covered in the event of a catastrophic loss like Mike just suffered.

 

[JMarsa]

Yeah, I feel for him about that fire.

Protecting our investments with good documentation and appraisals is definitely important.

I'm sure our cars will slowly rise in value like the 3rd gen Camaros have. I was really thinking about the market in terms of buying and selling. At some point I'm going to want to sell my car without being upside down like so many people have been/are with the housing market.


--JMarsa

 

[Perple76]

My 77 is insured with Hagerty for $30K. After showing them pictures of the work and a list of parts installed, they didn't even blink at that number. I have found Hagerty very reasonable in regards to their agreed value policies, and the one claim I made with them went very smoothly.

That having been said, would the market support a $30K sale price? Not a chance. I'd be lucky to see half that. I'm at peace with that, because I knew the score before I started throwing money at the car.

I can assure you that my investment (particularly when you factor in labor) is consistent with the insured value, but I don't harbor any illusions that the market would reward me with a sale price that high.

Of course, the car is not, and will not ever be, for sale. I rest easy at night knowing the time and money I've put into the car is for my own personal enjoyment, and not part of my early retirement plans.

Unless you're restoring Hemi-powered Mopars, there are no guarantees in the old-car business. You'd be better off not worrying about it, and just enjoy the hell out of the car.:yes:

 

[JMarsa]

Well put...

--JMarsa

 

[mikeorwan]

car value

FWIW mine was appraised, for insurance purposes only, at $23,500 and is insured for that amount in an agreed value policy with State Farm.

If you get an appraisel done make sure the person doing it understands that it is either for insurance purposes or resale purposes. In my case I bet I couldn't get better than 50% of the appraised insurance value if I were to sell within the next 3-5 years. I look at the car as a long term investment at best. If its taken care of and maintained well, it's value will increase over time. Substantially I think too.
Will that increase outweigh the cost of up-keep? I don't know and don't really care to be honest. Just having it to enjoy has a value that cant have a dollar value fixed.