Professional Appraisal Being Completed UPDATED!!!!

[Pat Dilling]

What an absolutely beautiful car! I agree with those that suggest insuring with a collector car insurance company such as J C Taylor, Grundy or Hagerty. Be sure to get "Agreed Value" coverage. That means the value it is insured for is the agreed value you will get if it is totaled or stolen. Stated Value is different and can be depreciated, or so I am told. The classic car insurers are usually much cheaper than normal use companies. My custom 53 is insured with Grundy for $47,000. It costs me just under $400 per year with $500,000 liability. It also includes trip interruption, roadside assistance, and coverage for a reasonable inventory of spare parts. I have no mileage limit but must demonstrate that I have other cars for daily use. Grundy did not require an appraisal, just pictures of all sides of the car to establish it's condition.

I am curious when you said your agent came out to do the appraisal. I'm sure that you trust him, but wouldn't an independent appraiser who has no skin in the game be the better choice? Just my thoughts. If the appraisal is for the replacement value vs market value, I will guess at $40,000.

[Deaf Mute]

I'd like to know what the appraiser charges for his time!

[Nelsen Motorsports]

Looks great, I am always partial to the 54s and it looks like you had a good start. I can see that being such a thorough and having a good starting point I would say $35k appraisal.

[White Hawk]

I'd like to know what the appraiser charges for his time!

My guess, $350.00 to $475.00.

[Bob54]

Wow, a real eye opener! Beautiful '54! Learning something new everyday!

[studehunter]

Just a clarification, it was not the insurance agent who came out, it was the agent from the antique auto appraisal group who came out for the documentation of the car, he then forwards his findings to the home office who actually writes the appraisal.

[studehunter]

The results are in.

[BobGlasscock]

Alex Nelson?????????????????

[Pat Dilling]

So now the question of questions, God forbid, if it were totaled or stolen tomorrow, could you duplicate it for $36,000?

[studehunter]

Most definitely not!!!!

[Pat Dilling]

So recognizing that, you might consider the option to insure with a company like Grundy, that will allow you to set your own value with just pictures to show the car is damage free. That is the "Agreed Value" between you and the company and you pay premiums accordingly. That way, should you suffer a total loss you would be able replace the car. They do have some use limitations, but they fall in line with the way most of us use our classic cars.

Just suggesting an alternative that might give you more peace of mind.

Pat

[rockne10]

So, Domenic's factory correct '54 is appraised at $36,000 and Pat's custom '53 is $47,000.
Assuming the quality of workmanship is equal, does this not encourage us to make some quality upgrades to our chariots?