[mark69rs]

Anybody have their car appraised for insurance purposes? If so, what was your experience? I had my 69 RS appraised by a guy in Denver with all sorts of credentials. While he was walking around the car, I was showing and telling him of all the documentation, all numbers match and so on. He was only interested in the chips in the glass, paint scratches, torn headliner, etc... All that stuff can be fixed. Does it not matter that the car is all original? Should the RS option bring in some additional value? Anyway he appraised it for less than what I paid for it and am a little disgruntled with appraisers.

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"All-muscle, all-car, without a tacky piece of gingerbread anywhere."

[Green Machine]

When i had mine appraised for insurance I asked three different appraisors if a number matching drive train made a difference in the value. The answer was no. They look at the overall condition of the vehicle and it's components and factor in the local market value. I was told by all three that a numbers matching all original car was more valuable to a purest or collector. That did not mean that it could not be sold for more than the appraised value.

My car was appraised for less than what I paid for it, but it is what I wanted and I have no regrets.

Todd.

[NWYENKO]

I think it is important to have an appraiser that is knowledgeable about the current market and not just use the NADA or other publications. I don't understand that if the purpose of the appraisal is for insurance and the real value is greater than you paid how you could be satisfied that it appraised for less. Ask for the qualification of your appraiser. If you need a referral I could put you in contact with my guy here and he may have a recommendation. I have been updating my appraisals every 6mo-1yr. As is easily proven in the market a number matching drivetrain does increase the value of the car!Examople: a NOM Z28 can bring 20%-30% less than one that is numbermatching. Jim

[choptop]

I agree. The car's current market value should be what the appraiser comes up with. That means all factors regarding the car are taken into consideration which includes numbers matching components, documentation and history.



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Scott- Austin, Texas
My '68 RS/ZZ4

[DjD]

There's a problem that arrises with appraisers as I see it. To make money an appraiser has to appraise more than one type or brand of vehicle. To be well versed in all possible car makes and models would take a super human. Look at McNeish as an example, I understand it's more than a grand plus travel expenses to have him certify your Z/28. I guess that's kinda the ultimate appraisal of sorts. What you get for a few hundred is going to be mostly based on condition. Now not saying these jack of all make and model appraisers don't have a specialty vehicle or two. Someone like Jim would be in a good position to recomend an appraiser that specializes in Camaros and matching numbers.

I suggest doing some homework on your own, it's not too hard to come up with a ball park value with the resources we have available today. From there get refrences and as Jim recomends qualifications as it applies to your make and model. I didn't need an appraisal with Hagarty, they accepted the value I gave and wrote it into an agreeded policy. Makes me think maybe I didn't value it high enough since they didn't flinch.

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...Dennis
"The '69, the '96 our local club"
and the "daily driver"

[NWYENKO]

Dennis, I think you can go to $20 or $25k before they require an appraisal. I bought a truck at Barrett Jackson and insured it for $5000 more than I paid at $25k. The Hagerty reps were there and took a picture and wrote the coverage on the spot. So far they have been great to deal with, of course the money has been flowing one way!! The appraiser I use is almost fanatical with his knowledge of the cars of the 60's. He keeps all the info on disc and the appraisals are very professional and easily updated. He can be found on the Yenko.net site as tom406. Jim

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'69 original 25000 mi. Lemans Blue Yenko Camaro, '70 Yenko Nova Deuce, '66 L79 Nova

[This message has been edited by NWYENKO (edited 01-31-2003).]

[winmon]

Jim...Do you have your appraiser's phone number handy? Is he located here in Seattle?Could I talk you into e-mailing it to me? I have'nt had one done in a couple years. Regarding the question about the added value of the R/S option,I looked up my car's value on NADA.com last night (it is a '69 Z/28-R/S)and they are showing a Z/28 w/o the R/S option to have a high of $41,200 but a Z/28 w/ the R/S option lower at $39,700. I e-mailed them and their response was that a base Z/28 is more desirable then with the R/S option. Yet, if you have any other Camaro and add the R/S option it adds 15%! Can't figure that one out. Thanks!

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69' Z/28-R/S, X-33, Rallye Green, Chambered Exhaust,All #'s Match

[This message has been edited by winmon (edited 01-31-2003).]

[NWYENKO]

His name is Tom Breske and can be reached at Memory Lane in Tukwila (206)575 1258. He is really a great and very knowledgable guy. I think the R/S option actually adds about $5000 to a Z28. I will be interested to see what response you get from Tom! Jim

[DjD]

win... there's a flaw in their system. If you select the RS Z it shows 39. If you select the Z it shows 41 and then if you select Z and then check the RS option you get 47 LOL

[JohnZ]

You definitely need a new appraiser - sounds like you got one who just does insurance company collision damage appraisals at body shops, not one who understands the valuation of classic cars. The guy who handles my cars spends about an hour going all over (and under) each car, and writes down every number on the car, including glass and seat belt label codes - he KNOWS classic cars, and his appraisals reflect it (and he's well-respected by the banks and insurance companies, who accept his appraisals without question). I pay $100-$150 for an initial appraisal, $50-$75 for updated appraisals on the same car every two years.

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JohnZ
CRG
'69 Z28 Fathom Green

[winmon]

Thanks Jim..that is actually where I bought the car back in '99. Is he partners w/ Mark now? Have you seen the Yenko at Muscle Cars Nortwest in Renton?
Dennis.. I tried that too. That was another reason I sent them the e-mail. Weird. I will take the $47,000 value!! I wish.......

[NWYENKO]

I thought the Yenko sold to one of the guys that monitors this board. Is it still there? I assume you are talking about the Green one. Yes, Tom works with Mark (another good guy). They sold my '69 Z28 a couple of years ago and the red '70 Yenko Deuce. He approaches the appraisal process just like was described in the previous post by JohnZ and I think at about the same price. Jim

[This message has been edited by NWYENKO (edited 01-31-2003).]

[Chris Davis]

I got kind of the opposite from an appraiser. He looked all over the car for about 5 minutes and turned to me and asked "So how much do you want me to write this appraisal for?". I told him I really wanted to know the value. He opened up a copy of Old Car Weekly (I think) and gave me a value. I ended telling him what to write down, although I did base it on his estimate.

[gheatly]

This thread is similar to the thread in bench racing on the current values of cars in the muscle car market. I do not believe that a car, or anything for that matter, is worth what someone is willing to pay for it. As one person in the other thread stated, the selling price of a car is a confluence of events, i.e., right place, right persons, right time. If one of the three is missing, the price will be lower than it would have been if you had all three.

If someone pays $100,000 for a $50,000 house, it DOES NOT make the house worth $100,000. It means the buyer was a fool, or knew something about the house that the seller didn't (i.e., about the chest of gold buried under the floor).

Applied to appraisals, your car shouldn't be worth what you paid for it just because that's what you paid. And I agree with the appraiser, condition is the most critical aspect of determining a car's worth. That's what the guy that appraised my car said. In Mark's case, it sounds like he got a real picky appraiser that couldn't see the forest for the trees. The details are important, but so is the overall condition. As for the rarer, high dollar cars, I would leave those appraisals up to someone like Jerry M.

[winmon]

Jim...I was there awhile back, but the Yenko was in last weeks autotrader. What color was the Z you sold? That Yenko Nova was nice. I thought about buying it actually. Reasonably priced too. Mark is a really good guy. I stop in there to say hi everytime I am in the area. Thanks again for the info.........