Hagerty Valuation Report

[RocketFoot]

Did you guys see this?  Hagerty Vehicle Evaluation Reports!  I know it isn't written in stone and every car is different, but still!  My car came up at $28,100 in good condition!  Maybe the market is starting to turn in our favor!

https://www.hagerty.com/apps/valuationtools/search/auto

1971_Ford_Mustang_Mach_1.pdf

 

[tony-muscle]

Coincidentally I notice that the other day. Maybe they want us to increase our values so they can charge a higher premium

 

[giantpune]

Not yet!!!  Dont let the value on these go up.  I need to buy another one first!

 

[machattack]

Yep,

It was 2 years ago that the big debate started AGAIN on the value of our cars. I remember several name callings such as..... YOU NAY SAYERS, YOU NEGATIVE people and so on. 

I will still hold to my statement then that our car values will go up a "lot" in the future. 

I posted a pic as did others the price when the gavel dropped at Mechum just a few months ago. I think someone said it was a drunk bidder who didnt know what he was doing. Really? Dont forget someone was bidding against him, that makes 2 bidders drunk , rich, dumb bidders? 

Thanks Rocket foot for the post.

 

[SteveO_71]

Here is the NADA value for mine. I would guess mine is between the average to high in the current condition. Hagerty seems to have a lower value, for whatever reason.

I always use NADA as the gospel. :thumb:

 

[turtle5353]

Since mine got totaled my insurance came up with $36,000 as the value of mine. I know I wouldn’t pay that for mine but I also know that I got way more than that into it! lol. 

 

[machattack]

Ditto on that. We invest in our loved ones which includes cars.

Turtle did they let you keep your car and also pay you for it? 

I bought a brand new boat 40k had it for 3 weeks and it caught on fire but wasnt plugged in charging. One of the 3 batteries plates shorted out as a dead short. Burned most of  it to the ground except the motor. Honda mechanic run the fuel line in the main harness bundle of wires. Wires melted down and ignited the fuel line. It was 8 feet from my house and it just bubbled the paint on the house. WEW 

The 200hp 4 stroke honda was 20k. alone. So..... I had put another 8k in add ons to the boat so State Farm gave me the boat, trailer and motor. They paid me full price on the boat. When you invest more than market value They feel obligated to give the claim items to you he explained. Well, I got 15k for the motor so I ended up 15k ahead of the game. But what a hassle with the forensic experts, setting up a new boat again and on and on.  

 

[turtle5353]

I got to keep the car but it cost me $6k. I got the car and $30k in the end. 

 

[giantpune]

When mine got totalled years ago, the insurance company valued it at like $4k.  Even with a brand new everything under the hood.  Crate motor, exhaust, brakes, transmission, radiator, and receipts for everything.  The interior was all original deluxe trim and still in good shape.

I bought it back from them with the agreement they didn't salvage the title.  I had the frame straightened and replaced all the suspension and whatnot.

This time around, I was trying to put full coverage on it.  I told them insure it for $24k and it was undergoing a slow restoration.  They won't insure it for that much without a bill of sale or an appraisal saying its worth that much.  They say the average value of a 1973 mustang is about $8500, so thats what they will insure it for.  They don't take into consideration if its a mach 1 or an inline 6 coupe.

 

[turtle5353]

Get a different insurance company.  That’s a joke. Get an insurance company that deals strictly with classic cars and you will be good. And the rates will probably be cheaper. 

 

[machattack]

Ha......like turtle says, get another insurance company. You will be happy you did. Or you can go through Farmers insurance and they will get it under written by Hagerty or similar You can insure it for what ever amount you want. Heck evil knievel insured his jump across the snake river here in Idaho.  

 

[Hemikiller]

Hagerty insured my Mach while under restoration for $10K, this was nearly twenty years ago. As I finished stages, I'd call and up the coverage. Current agreed value coverage is $30k and I pay under $300/yr.

 

[Galucha]

I've got mine insured through Hagerty with agreed value as well. Waaaaay cheaper than conventional insurance and it only costs me like $25 /month since my car is one of the less desirable trim levels. I think the valuation tool they have on their site put it somewhere between $6,500-$9,000 which seems about right.

 

[Mac]

Bottom line, comes time to sell, it is only worth as much as your buyer is willing to pay.

 

[Carolina_Mountain_Mustangs]

I agree that they want you to put a higher price on your car to sell you more insurance. I have Hagerty and if my car is crashed I get the car and $50,000 and no salvage title. It is $185 a year I think. But It can never be driven insured in my shop, in my trailer and on the paddock and in shows.
I have never been offered more than $25,000 for my 1973 Mach 1 original one owner 12,000 miles with 41 options. So I think they are smoking the wrong pipe again, lol. If mine is gone there is not another to replace it.
The auctions are just blow hards showing off. They can bid $150,000 and that might be one hours earnings for some of them. Not a great basis for setting a selling price. Would you throw an hours pay for car, YES.
The demand will keep dropping and so will price unless you are trying to impress your fellow millionaires and billionaires that you can pay anything you desire. 
I was trying to but a 20th . anniversary mustang convertible from the guy that bought the Bullitt Mustang and he no sold over $500 difference in my offer and his selling price. Said he had over 100 collector mustangs and was going to go to $4,000,000 on the Bullitt if he had to.

Money talks and the poor man walks.