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Thread: Highest Sale Price?

  1. #1
    Join Date
    Mar 2009
    Posts
    80

    Highest Sale Price?

    Not sure this is where my inquiry belongs, but I couldn't find a better category!

    I'm working with a certified automobile appraiser on a valuation for my car which more closely reflects the amount I have in it. This new appraisal is needed so my insurer will increase the agreed value of my policy. I'm just trying to protect myself in the case of a catastrophic loss (theft, fire, etc.). No plan to sell the car in the foreseeable future.

    Part of the appraisal process is to identify vehicles of the same make, model and year which have sold for more than my current agreed value, and the appraiser is having difficulty finding any. So, does anyone know someone who has sold a 1997 Thunderbird for more than $40K? Could be anywhere from stock to highly modified, but has to be street legal. If so, I will need contact information for that person.

    I realize this may be a long shot, but folks on this forum have built a bunch of impressive cars over the years, or know people who have. Any help appreciated!

  2. #2
    Join Date
    Apr 2002
    Location
    St. Charles, MO
    Posts
    21,171
    I doubt you will find an MN12 Thunderbird selling for $40K anywhere. If your insurance company requires that as proof, suggest you switch to Grundy. Mine is insured for $55K and all they needed was some photos.

    David
    1991 SC AOD 4.2..2.3 Whipple..........10.910 @ 125.61
    2016 SRT Challenger Hellcat.............10.597 @ 135.78

    My Garage

  3. #3
    Join Date
    Mar 2009
    Posts
    80
    David, I'm already with Grundy. They initially agreed to a value of $40K based on photos and a list of modifications a few years ago. After making further substantial upgrades to the car, I asked them to increase the agreed value, and they said their underwriters were unwilling to do so without a certified appraisal.

    FWIW, I agree with you that we (the appraiser and I) are unlikely to find any car actually sold above $40K. And in my mind that isn't the point, since I'm just trying to protect myself financially in case of a catastrophic loss.
    Last edited by MikeBrally; 06-25-2020 at 09:50 AM.

  4. #4
    Join Date
    Dec 2007
    Location
    Salem OR
    Posts
    7,517
    I'm just trying to protect myself financially
    I would take the $40k policy thru Grundy, and then do like a lot of corvette owners...self-insure for the difference.

  5. #5
    Join Date
    Apr 2002
    Location
    St. Charles, MO
    Posts
    21,171
    Quote Originally Posted by MikeBrally View Post
    David, I'm already with Grundy. They initially agreed to a value of $40K based on photos and a list of modifications a few years ago. After making further substantial upgrades to the car, I asked them to increase the agreed value, and they said their underwriters were unwilling to do so without a certified appraisal.

    FWIW, I agree with you that we (the appraiser and I) are unlikely to find any car actually sold above $40K. And in my mind that isn't the point, since I'm just trying to protect myself financially in case of a catastrophic loss.
    Mike,

    I've never asked Grundy to increase mine, they just do it a little each year at renewal. Might want to check with Haggerty to see what they require for setting the value.

    David
    1991 SC AOD 4.2..2.3 Whipple..........10.910 @ 125.61
    2016 SRT Challenger Hellcat.............10.597 @ 135.78

    My Garage

  6. #6
    Join Date
    Mar 2009
    Posts
    80
    David,

    I passed along the info that your car is insured by Grundy for $55K, and the appraiser is using that as part of the justification for setting the value of my car at the same level. Hopefully Grundy will accept his report.

    When I first looked into getting "collector car" insurance, I got quotes from a few places including Hagerty. They were nearly twice as expensive as Grundy for the same level of coverage!

    Mike

  7. #7
    Join Date
    Apr 2002
    Location
    Milwaukee, Wisconsin
    Posts
    3,549

    try classic insurance

    I just sent them some work and all they wanted was two pic's of the car and a copy of my deck sheet for my other normal cars. They were less money as well for me.. Just something to try....Rich
    Too many cars,too little time to drive them. Anything less than 500 cubes is a small block. If you slow down in life you will get run over..

  8. #8
    Join Date
    Mar 2009
    Posts
    80
    Rich,

    Thanks for the tip. Grundy accepted the report from the certified car appraiser and increased my coverage to the same level as David has. So, I'm good for now.

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