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Stolen Car
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TOPIC: Stolen Car
#47
Re:Stolen Car 7 Years, 6 Months ago  
And for anyone interested, my garage is protected by an alarm, security lights,3 bear traps, IED's, 5 pitbulls, a tankful of Piranha, 3 alligators, a Warthog & my wife.
There are probably easier pickin's elsewhere.
OldInjun
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#57
Re:Stolen Car 7 Years, 6 Months ago  
I hear you on the protection. I have my 12 gauge and four 3.5" shells on my dresser ready and waiting for a return visit.

I had to have the car towed from the impound lot as the brakes were shot. Not sure if they just got on it and braked it so bad it boiled the fluid out of the master cylinder or what. I imagine there was some power braking involved, etc. Very little brake pedal left. I guess the saying "drive it like you stole it" exists for a reason.

Tranny shifts much rougher now than it did before. Blue smoke coming out driver's exhaust bank.

If I had to guess, I'd say I'm in for a fun discussion with the insurance folks regarding replacement parts, costs, etc.

Do we have any information as memebers regarding recent 67' 2+2 sales and values etc.? I am sure I am going to get asked that question by the insurance folks and it's just so hard to set a value because they come up for sale so infrequently and there are so few of them. I've yet to see a fully restored one go by any Barret Jackson auction or be in Hemmings 100% done to establish a "market" for the cars. Anyone have any ideas or see any recent sales?
Sixiller
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#63
Re:Stolen Car 7 Years, 6 Months ago  
Haven't seen any recent sales but got this from Collector Car Market Review. The prices will seem low but from someone who is looking to buy a car and his been comparing their prices to the "real market" they are pretty accurate most of the time.

collectorcarmarket.com/menus/ccmprcs/67poca22.html
BigBrother
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#64
Re:Stolen Car 7 Years, 6 Months ago  
I haven't personally followed the values on '67 cars, but I think the above referenced website is inaccurate on the low side. Estimates like these are problematic for cars that sell so infrequently - they just don't have enough to compare. If it were an Impala SS, which change hands on an hourly basis, there would be plenty of comps.
As a prime example, my insurance company has agreed to cover my car for exactly twice the amount that I came up with for a #1 car on "Collectorcarmarket". Their underwriter would not be willing to risk that much for a few extra premium dollars if he didn't see the value in the car.
I had a friend who totaled a Dodge Viper, and was successful in bargaining with Nationwide for an extra $10k over their initial claim settlement offer. He did his homework, provided comp sales from the Internet, and basically told them to keep their money and just replace the car. They finally agreed to his dollar figure, which was 20% over book value. So don't be afraid to stand your ground. Document every positive aspect of the car's condition with photo's, receipts, awards, etc. It's basically a sales job.
Good Luck!
OldInjun
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#65
Re:Stolen Car 7 Years, 6 Months ago  
I completely agree with your assessment Injun. The frequency of a sale is really what determines "the market" for a car, or any market for that matter. The constant re-setting of price as a function of supply and demand interacting. As you are all well aware as 2+2 owners, they are rare cars that just do not come up for sale all that often. And even when they do come up for sale, it's usually the "one that needs work" that is on 4 cinder blocks in someone's yard with the original engine and tranny missing and the interior rotted out. The people that restore their 2+2's to show condition or slightly below hold onto them.

For example, I just looked up the auction results on Barret Jackson's website (which the nice lady, Susan, told go back to 2001) and found the following:

1) 1967 - no 2+2's sold or listed in the auction archives
2) 1966 - no 2+2's sold or listed in the auction archives
3) 1965 - Listing of cars below
a. 1965 - 421 HO, Tri power, 4 speed, 8 lugs. Lot 99. Palm Beach 2010 Auction: $31,900
b. 1965 - 421, Tri Power, Auto, 8 lugs. Lot 337. Scottsdale 2003 Auction: $15,400

That's it. 2 cars in 10 years of auctions. Granted, the 421 HO car is rare, and the price paid reflects that, but still. It's hard to make any sort of price or maket assumptions based on 2 car sales, that don't have the same options, that aren't the same year I have. Further, Barret Jackson results should not be relied up on to set values, so this may have been an exercise in futility, but I'm not sure where else classic cars are traded so frequently where the data on price is published. It'd be nice if Ebay, or Hemmings, or PY had a data service like Barret Jackson where you could look at past Ebay sales, but I doubt they'd ever release such info. So the march continues...
Sixiller
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#66
Re:Stolen Car 7 Years, 6 Months ago  
The market prices for rarely traded cars like the 2+2 and others is hard to get a handle on. That's why you need to get an "agreed upon value" policy and take the quess work out of the equation. I overpaid the "market" for my current classic. Market = $7000 I paid $12,000 retail but it was what I personally was looking for at the time. I probably couldn't sell it for much over $7000 but I'm covered for $12,000.
BigBrother
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