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cobra value
How does one go about determining a value to a kit car? I am concerned about having an appraisal done when there are so many variables. I have not found a source (similar to Kelley Blue Book or Collector Car Value Guide) that can help in this regards.
I am putting together a kit (Unique) using an original 65 427 side oiler with a HEH-BY toploader, original gauges, proper carb and distributor, and all the other items to keep the car as authentic looking as possible. Once I am done, for insurance purposes, how do I determine a fair value to the car? This is a very highend restoration. Suggestions and input are very welcome |
The value is hard to determine every car is different and most buyers don't care how correct it is it seems most very nice cars all fall in the 35,000.00 to 45,000.00 range but the market changes constantly best thing is to add up what you have in it and insure it at that to protect your self and if you ever go to sell it price it with comparable cars.
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Hope you find this helpful. Bill S. |
I agree with Bill,
Replicas are worth the sum of their parts........ or what one will pay. I do differ with respect to authenticity portion. Cars that are clearly without identity crisis, ie: street interior with S/C stuff, tend to command greater prices. For example: (not picking on MFG just examples) ERA, street interior, 390, dual carbs, pipes, no roll bar, bolt on wheels, std jag rear, stripes will command less than equal ERA in full 427/428 street or S/C trim. CSX6000 car with a Boss 351 will not command the price of the same car sporting SO. Then again, all these fall into "Replicas are worth the sum of their parts"........ or what one will pay Guess pick the right manufacturer, make a plan, stick to your goal and enjoy.... |
Not so sure about your "sum of the parts" value. You can easily put $80k into a roller, drive it for 2,000 miles and it will be worth what other same manufacturer Cobras are selling for at the time. $80k in a Superformance will get you about $65k used. Take a look at Cobra Country or some other site selling Cobras and see what the same manufacturer Cobra is selling for. That's what your Cobra will be valued when you want to sell it or buy another. If you want to insure it for $80k to get your money out of it, that's OK too. It will cost you though.
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It's worth what someone is willing to pay for it. Watch 427 Cobra Country--Ford AC Cobra replica manufacturers SUPER-SITE, Mecum, etc., and see how much similar cars are selling for.
The value is also seasonal. A Cobra will sell for more in the spring than it will in the winter. |
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Bill S. |
I agree with bill I see all kinds of ridiculous asking prices for all kinds of things but you will also see them for years for sale until they just stop trying to sell them or lower the price
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MrMustang - Asking prices are known by looking at ads. How does one come by the selling prices?
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Bill S. |
While asking and selling prices establish the market price for vehicles up for sale or actually sold, there are other times an appraisal is needed (e.g. insurance). For those situations it may be worthwhile to engage a certified appraiser. Check out the 'Bureau of Certified Auto Appraisers' (Bureau of Certified Auto Appraisers - BOCAA) and/or 'The American Society of Certified Auto Appraisers' (Certified Auto Appraisers). Both of these have sections on their Web sites so you can find an appraiser in your area.
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Make sure they understand you want a "current market appraisal" (good for about 2-3 months), and not an "insurance appraisal". if the appraiser does not know the difference between the two, walk away and find another appraiser. Bill S. |
Truetriplex wants an appraisal for insurance only.
You need to find an appraiser who know the value of Cobra and that is hard to do. You can go to an appraiser who deals with custom cars, hot rod, etc and tell him how much you have spend on the car. He should work with you and give you a fair appraisal. Next is getting the insurance company to accept the amount of the appraisal. If you deal with someone like Robbin Terry of Midwest who understands Cobras it will be easier to insure for the amount you have invested. Midwest Classic Insurance You will pay premium on the dollar value of the car. The more value the more the dollar premium. Dwight |
If you're just looking at an insurance value - get a policy with a premium that's based on agreed value. Isn't it like life insurance? The more you want - the more you pay? Unique w/ side oiler is probably around $50K. I've got a Unique with a 427 Windsor stroker and it's insured for $40K.
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