R3VLimited Forums

Go Back   R3VLimited Forums > E30 Technical Forums > Convertible Technical & Discussion

Reply
 
Thread Tools
Old 02-10-2017, 08:44 PM   #1
monoblanco
Wrencher
 
Join Date: Mar 2008
Location: san diego
Posts: 297
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
monoblanco is offline   Reply With Quote
Old 02-10-2017, 08:54 PM   #2
monoblanco
Wrencher
 
Join Date: Mar 2008
Location: san diego
Posts: 297


__________________
monoblanco
www.passportsoccer.com
monoblanco is offline   Reply With Quote
Old 02-10-2017, 09:16 PM   #3
iXguido
E30 Addict
 
Join Date: Nov 2009
Location: BC, Canada
Posts: 490
Have a look here http://www.r3vlimited.com/board/showthread.php?t=384251
iXguido is offline   Reply With Quote
Old 02-11-2017, 08:41 AM   #4
monoblanco
Wrencher
 
Join Date: Mar 2008
Location: san diego
Posts: 297
Thank you xGuido. Also finding that eBay and Bring a Trailer show more fair assessments of our car values today.
http://bringatrailer.com/listing/1987-bmw-325i-7/

Sent from my ONEPLUS A3000 using Tapatalk
__________________
monoblanco
www.passportsoccer.com
monoblanco is offline   Reply With Quote
Old 02-11-2017, 09:35 AM   #5
bostonvert
Advanced Member
 
Join Date: Oct 2015
Location: Belgium, near Brussels
Posts: 191
It is in Europe but nice ones are way beyond 15k

https://www.2dehands.be/autos/bmw/3-...331535000.html
http://nl.ww3.autoscout24.be/classif...044?asrc=st|as
__________________
Instagram : makeitsnap

1985 e28 520i
1997 Volvo v70 classic
bostonvert is offline   Reply With Quote
Old 02-11-2017, 10:32 AM   #6
flyboyx
R3V OG
 
flyboyx's Avatar
 
Join Date: Sep 2008
Location: Houston, tx
Posts: 6,565
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.
__________________

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
flyboyx is offline   Reply With Quote
Old 02-14-2017, 09:03 PM   #7
nando
Moderator
 
nando's Avatar
 
Join Date: Nov 2003
Location: bellingham, wa
Posts: 32,465
That's relatively minor damage. I would fight to keep a clean title.
nando is offline   Reply With Quote
Old 02-17-2017, 03:39 AM   #8
MSGGrunt
Member
 
MSGGrunt's Avatar
 
Join Date: Aug 2016
Location: Western, MA
Posts: 71
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
__________________
1990 E30 325i Convertible. 100% Stock.
1987 E24 M6.
2003 E54 X5.
1992 Mercedes W201 190e.
1994 Mercedes W124 E320.
MSGGrunt is offline   Reply With Quote
Old 02-18-2017, 01:02 AM   #9
mr2peak
R3VLimited
 
mr2peak's Avatar
 
Join Date: Aug 2008
Location: Bay Area
Posts: 2,278
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
http://savannah.craigslist.org/cto/5866483651.html

2016
$7,300 White
http://www.r3vlimited.com/board/showthread.php?t=388223

2013
$10,800 White
http://www.r3vlimited.com/board/showthread.php?t=296460

2012
$5,500 White
http://www.r3vlimited.com/board/show...ht=e30+technic

2013
$12,800 White
http://www.r3vlimited.com/board/show...ht=e30+technic

2016
$10,000 White
https://www.panjo.com/buy/1992-325ic..._content=title

2015
$7,800 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2015
$5,500 needs restoration White
http://www.r3vlimited.com/board/show...ighlight=mtech

2015
$5,000 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2013
$8,750 Red
http://www.r3vlimited.com/board/show...ighlight=mtech

2015 White
$9,000
http://www.r3vlimited.com/board/show...ighlight=mtech

2015
$6,800 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2014
$7,500 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2013
$7,000 White
http://www.r3vlimited.com/board/showthread.php?t=286565



Manuals

2015
$12,700 Red
http://www.ebay.com/itm/1991-BMW-3-S...vip=true&rt=nc

2016
$11,000 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2016
$12,000 White
bottom of the page
http://www.r3vlimited.com/board/show...t=mtech&page=2

2015
$18,500 White
http://www.r3vlimited.com/board/show...ighlight=mtech

2015
$15,100 Black, manual swap
http://www.ebay.com/itm/291352316611...TQ:MOTORS:1123

2013
$10,000 Black, true 5 speed, one of the 7 canadian black manual cars
http://www.r3vlimited.com/board/show...ighlight=mtech

2016
$32,000 White
http://www.r3vlimited.com/board/showthread.php?t=396446
__________________
Drive it hard. Maintain it well.


Convertible Technical & Discussion
A Topless Memorandum
mr2peak is offline   Reply With Quote
Old 02-19-2017, 01:21 AM   #10
325_e30
R3VLimited
 
325_e30's Avatar
 
Join Date: Jan 2008
Location: Miami/Leer/Papenburg/Amsterdam
Posts: 2,480
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
Quote:
Originally Posted by s0urce View Post
Man, she'd be so easy to rape
325_e30 is offline   Reply With Quote
Old 03-01-2017, 08:34 AM   #11
LEANE30
Mod Crazy
 
LEANE30's Avatar
 
Join Date: Apr 2006
Location: 6305 ft above sea level
Posts: 795
Send a message via AIM to LEANE30
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!
__________________
...because that is what the e30 dream is all about, blowing a load of money effort skill talent and time on a stupid fucking car project instead of making a real impact on the world within the miniscule pathetically short lifespans we hope to squander on petty self centered toys.

m20 oil pan baffle extension plate stencil/cut file PDF
LEANE30 is offline   Reply With Quote
Old 03-01-2017, 08:55 AM   #12
DRVN2WN
Noobie
 
DRVN2WN's Avatar
 
Join Date: Jan 2017
Location: OK
Posts: 16
Quote:
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
DRVN2WN is offline   Reply With Quote
Old 03-02-2017, 07:24 AM   #13
cory58
E30 Addict
 
Join Date: Dec 2007
Location: Charlotte, NC
Posts: 412
Quote:
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 'vert
1988 320i Touring
1977 530i
2015 328i - Euro Delivery/Performance Center Delivery
2001 325i - R.I.P.
BMWCCA
E30CCA
cory58 is offline   Reply With Quote
Old 03-13-2017, 11:26 PM   #14
LEANE30
Mod Crazy
 
LEANE30's Avatar
 
Join Date: Apr 2006
Location: 6305 ft above sea level
Posts: 795
Send a message via AIM to LEANE30
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.
LEANE30 is offline   Reply With Quote
Old 03-14-2017, 03:52 AM   #15
cory58
E30 Addict
 
Join Date: Dec 2007
Location: Charlotte, NC
Posts: 412
Quote:
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 'vert
1988 320i Touring
1977 530i
2015 328i - Euro Delivery/Performance Center Delivery
2001 325i - R.I.P.
BMWCCA
E30CCA
cory58 is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -7. The time now is 06:11 PM.


Powered by vBulletin® Version 3.8.9
Copyright ©2000 - 2017, vBulletin Solutions, Inc.
Copyright 2004 - 2020 R3VLimited LLC