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Recently Sold Verts as Proof of Value

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    Recently Sold Verts as Proof of Value

    Looking to find some recently sold verts as evidence of my car's value as proof for insurance purpose.

    I know they will try to low ball me.

    How do I find records of sales that the insurance company will accept.

    Currently looking for my receipts with varying degrees of success.
    monoblanco
    www.passportsoccer.com

    #2


    monoblanco
    www.passportsoccer.com

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      #3
      Have a look here http://www.r3vlimited.com/board/showthread.php?t=384251

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        #4
        Thank you xGuido. Also finding that eBay and Bring a Trailer show more fair assessments of our car values today.
        Bid for the chance to own a 1987 BMW 325i Convertible 5-Speed at auction with Bring a Trailer, the home of the best vintage and classic cars online. Lot #2,852.


        Sent from my ONEPLUS A3000 using Tapatalk
        monoblanco
        www.passportsoccer.com

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          #5
          It is in Europe but nice ones are way beyond 15k

          BMW 3 Serie ➤ Bekijk het aanbod van vandaag! Occasions en nieuw. Elke deal een groot verschil. Dat is ② 2dehands Auto's.

          Op zoek naar een tweedehands BMW 320? Hier vind je de meest recente aanbiedingen op AutoScout24, de grootste online automarkt in Europa.
          Instagram : makeitsnap

          1985 e28 520i

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            #6
            damn. that looks like such an easy fix. any frame damage?

            i would get them to pay you out without totaling it. i would then go looking for a nice alpinweiß II fender.
            sigpic
            Gigitty Gigitty!!!!

            88 cabrio becoming alpina b6 3.5s transplanted s62
            92 Mtech 2 cabrio alpinweiss 770 code
            88 325ix coupe manual lachsilber/cardinal
            88 325ix coupe manual diamondschwartz/natur
            87 e30 m3 for parts lachsilber/cardinal(serial number 7)
            12 135i M sport cabrio grey/black

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              #7
              That's relatively minor damage. I would fight to keep a clean title.
              Build thread

              Bimmerlabs

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                #8
                It also may be a good idea in the future to have your can insured by a specialty company with an "agreed upon value" policy. The only issue with these is they are often designed for show cars or cars that are not driven on a regular basis and have mileage restriction. My E24 M6 is insured in this way. The company lets you set the value yourself, within reason I am sure, and in my case I just provided pictures to detail the condition of the car.

                The other good idea is to have the car independently appraised so if there is a catastrophic loss you have an independent appraisal assigning a more accurate value to your car. Book value of older cars does not necessarily reflect a true value. The book value on my M6 is no where near what these cars are currently selling for/valued at just because of their rarity and current demand.

                Insurance companies are there to make money and will want to pay you the very minimum. I learned this the hard way with a garage fire. In my case I hired an independent insurance guy and instead of $65,000 the insurance company originally wanted me to settle for I ended up with $95,000
                1986 E30 325E
                1989 E30 325iX
                2003 E54 X5.
                1993 Mercedes W124 300E
                1995 Mercedes W124 E320.
                2009 VW Touareg
                2007 Porsche Cayman S

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                  #9
                  My car was vandalized, the top was cut. These are M Technic evaluations I put together to argue the value. Tech 2 cars only.





                  E30 M Technic cars

                  Automatics

                  Currently listed
                  $11.000 White


                  2016
                  $7,300 White


                  2013
                  $10,800 White


                  2012
                  $5,500 White


                  2013
                  $12,800 White


                  2016
                  $10,000 White


                  2015
                  $7,800 White


                  2015
                  $5,500 needs restoration White


                  2015
                  $5,000 White


                  2013
                  $8,750 Red


                  2015 White
                  $9,000


                  2015
                  $6,800 White


                  2014
                  $7,500 White


                  2013
                  $7,000 White




                  Manuals

                  2015
                  $12,700 Red


                  2016
                  $11,000 White


                  2016
                  $12,000 White
                  bottom of the page


                  2015
                  $18,500 White


                  2015
                  $15,100 Black, manual swap


                  2013
                  $10,000 Black, true 5 speed, one of the 7 canadian black manual cars


                  2016
                  $32,000 White
                  Drive it hard. Maintain it well.


                  Convertible Technical & Discussion
                  A Topless Memorandum

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                    #10
                    not to shit on your parade, but when i wrecked mine the insurance said that the comparison cars had to be within a mileage radius of <50 miles. then they prceeded to show me cars in california that were cheap when i live in florida. GL man, insurance people are assholes.
                    Looking for a 3.46 or lower LSD. Lets make a deal.
                    LSx e36TI coming soon
                    Originally posted by s0urce
                    Man, she'd be so easy to rape

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                      #11
                      Agreed. Don't let the insurance take you for a ride. Just last month my 89 bronzit 325ic was hit in a parking lot, very similar damage to yours actually. I had a collector policy on it with stated value of $5k. They first said it was totaled and they would pay kbb price of $1800. I told them to find me ONE that was listed for sale for that much, let alone one with records, not overly modified or molested, had good condition interior and top, and no rust, is similar condition to mine pre-accident. I referenced some BAT listings and found 3 for sale, one for $5k and two for $9k. There were no others listed for sale locally. They retorted that "OK, if we look it up as a collector car classification, our new valuation is now $5075, and is no longer totaled. Our estimated repair cost for this is $1.9k, how would you like us to send you this payment?"

                      FYI, stated value is only a value limit cap, if it is not accurate to the market appreciation, insurance will only pay you for the lesser of the two numbers, stated value versus actual market value.

                      Then I went and got 3 different repair shop quotes. insurance estimated repair didn't include hood or busted grill, etc. Was a total lowball. I got a high quote from a premier BMW only body shop and a medium (low side but very accurate IMHO) from a general European car body shop.

                      Insurance came out and supplemented their first repair estimate with the details from the European body shop. Then I agreed to them sending me that final payment amount to repair.

                      Catch 22 however is just filing a claim will likely show up on vin records in the future, I tried but not hard enough to get them to compensate me for lost future equity due to having an accident on the vin history. So I'm taking the money, buying an accident free example and swapping over the best condition parts and giving a fresh paint job to the replacement vert. Then i will crush the bronzit when I'm done stripping it.

                      Side thought, when registering the replacement, I'm going to claim the highest purchase price I can without effecting my sales tax, because these registration stated values is exactly the first thing that the insurance companies go to (as well as kbb) in order to tabulate their "market value".

                      Basically we as a community need to start being more honest when we register our cars' stated purchase price. I'm guilty of it too in the past, trying to just limit my taxable value yet ultimately hamstringing the accuracy of the enthusiast market value.

                      You pay a premium for insurance to "make you whole" after an incident, hold those bastard's feet to the fire!
                      ...what hasn’t been done to an m20 yet?

                      m20 Oil Stencil

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                        #12
                        Originally posted by LEANE30 View Post
                        I had a collector policy on it with stated value of $5k. They first said it was totaled and they would pay kbb price of $1800...

                        FYI, stated value is only a value limit cap, if it is not accurate to the market appreciation, insurance will only pay you for the lesser of the two numbers, stated value versus actual market value.
                        That is correct, and something that a lot of car enthusiasts learn the hard way. Insurance companies, of course, are not eager to inform you of this. Stated value can actually be used as a way to claim a lower value for your vehicle and reduce your premium.

                        The type of insurance that collectors/enthusiasts should actually be seeking is an "agreed value" policy, which does not roll back to the perceived actual cash value. Here's Hagerty's description of the difference: https://www.hagerty.com/articles-vid...value-coverage
                        drvn2wn

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                          #13
                          Originally posted by DRVN2WN View Post
                          Stated value can actually be used as a way to claim a lower value for your vehicle and reduce your premium.

                          The type of insurance that collectors/enthusiasts should actually be seeking is an "agreed value" policy, which does not roll back to the perceived actual cash value.
                          All correct. When I was insuring my Touring with Liberty Mutual, I asked for agreed value. They said they could offer it, and then the phone agent probably made a mistake and explained that not only did I need to get an appraisal (not required by Hagerty), but a total loss would be the lesser of FMV or agreed value. I told him that was not actually an agreed value policy, and his response was, "Yeah, you're right".

                          One thing I don't like about Hagerty is all the restrictions. Grundy lets you drive the car to work and drive more miles annually. I will be switching to them when my Hagerty policies expire.

                          Cory
                          1992 325i Cabrio
                          1988 320i Touring
                          2000 M5
                          1977 530i
                          2015 328i - Euro Delivery/Performance Center Delivery
                          BMWCCA
                          E30CCA

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                            #14
                            I just signed papers today to switch up my insurance policies to a different carrier. Havent decided what to do with the collectors policy on my 84 yet, might have to take a look at Grundy!

                            No real reason to wait till a policy renewal, it'll all get prorated and refunded accordingly if I understood it all correctly.

                            Bye bye, Allstate. Hope you thoroughly enjoyed giving me the run around on my car and home claims in 2016. LOL. - I do not recommend Allstate, to anyone, period.
                            ...what hasn’t been done to an m20 yet?

                            m20 Oil Stencil

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                              #15
                              Originally posted by LEANE30 View Post
                              No real reason to wait till a policy renewal, it'll all get prorated and refunded accordingly if I understood it all correctly.

                              Also correct. I am just sick of dealing with insurance and want to focus on other things for a while.

                              Cory


                              Sent from my iPad using Tapatalk
                              1992 325i Cabrio
                              1988 320i Touring
                              2000 M5
                              1977 530i
                              2015 328i - Euro Delivery/Performance Center Delivery
                              BMWCCA
                              E30CCA

                              Comment

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