I stick my head outside to call my wife, and there's a guy in a nice suit drinking a glass of red wine going over my car.
(BTW,I was parked way out of sight from the attendees).

I said " you wanna buy it?" He said, "yes, do you know the owner?"

Umm...yes, I do.

The guy walks over to me, and has a Hagerty tag on his suit.

After some small talk, he asked my asking price.

$19,000.

He said for that car, in that condition, that price is within the acceptable range, and that the value has bottomed out and is posing to climb. He said the car is "significant" and Hagerty is aware of it.
Also, he said most of the mid level collector cars took a hit in the 1987 market crash, and haven't really recovered, but in a few years, Hagerty is looking for them to rise.

So...did we strike a deal?
Nope. He is restoring a 1984 Carrerra, but wants me to contact him with more details.

Guys- don't just go to local hot rod shows, get the to the BIG stuff! The REALLY big stuff and make yourself known!!

Exposure at shows, Press and PR is good for values.

I try to get my car out as much as possible for the same reason. Its in everyones best interest to get the cars out at shows in good condition.

Today, two judges met me as I pulled in and said "What a great car to have at this event".


This is at a show where Jim Glickenhaus has his Ferrari Enzo P4/5 that he comissioned Ferrari to build for him, as well as a Ferrari GTO and many other historic cars. Hell, even Bob D'Amato was invited to display his Cosworth!

Google that Glickenhaus guy....amazing.

My 85 is insured with Hag for $25K. There was no appraisal required, so it is also within their acceptable range. They knew exactly what the car was.

I had my car at a 'cars & coffee' a few weeks ago in the Detroit area. A guy pulled in next to me in a 69 Mangusta. We get talking and he loves the quattro. Knows all about them. Says he even knew the designer very well and helped him get the job with Audi! "Huh? You know Martin Smith?" Turns out the guy is Dick Ruzzin, retired Design Director of GM Europe.

Here's the crazy story on his Mangusta and how he acquired 40 years ago:

http://www.qv500.com/detomasoregistrymang0670.php<ul><li><a href="http://www.qv500.com/detomasoregistrymang0670.php">http://www.qv500.com/detomasoregistrymang0670.php</a</li></ul>

Make sure you read the fine print. If you don't have documentation qualifying the car's value, they will give you book value or agreed value, whichever is the least. They told me to keep up on the appraisals.
If you keep legitimate records of what collectors or enthusiasts are paying, that may help you as well.

There were a number of pretty "significant" cars there to say the least, very impressive. Sorry I missed your Ur-q. Is it weird that one of my favorite cars there was the Cosworth Escort...LOL


Cheers,
Jim

You're back to book value - i.e. $6000.

You're appraisals could cost you more than the $150/year policy.

The guy that did my appraisal is pretty accomplished. I got lucky in that regard.

of $19,000, and was paying premiums for that.
I was then made aware of the fact that the insurance company will only payout book value UNLESS you have a certified appraiser verify your stated value. Also, you must keep the appraisals current.
So, they will only payout the lowest figure.

Thats why I went with Hagerty, but I better research them more as well.

they will research the market to help you establish a reasonable agreed value, and will insure and pay out that value.
They will not, however, "over" insure a car.
If you want to insure your urq for $25,000, they will look to see if there has been any models simililar selling or sold for that amount, or within a reasonable distance from that amount.
No appraisal necessary.

I currently might be underinsured on that right now. Seems like every time I turn around the prices on various cars of various built quality and history keeps jumping around like a moving target.