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What's It Worth?

mint 61

mint 61

Donation Time
Hi All,

My insurance guy wants a value on my 61 Alpine Series II. Pics Attached.
I'd say it's in very good-excellent condition, all original, runs well. I speculated about 6-7k, any better estimates? I'm also about to have new VB rims and tires on it as well. Thanks in advance.:cool:
 

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RootesRooter

RootesRooter

Donation Time
If you were to put it on eBay, your guess might be good. But if it got totaled and you wanted to find a close-to-identical replacement it might cost you a lot more. Classic car insurers know this and allow a much higher insurance value than a quick-sale value. I'd guess around $12K-$14K.

I assume you're going to use Hagerty or something similar. They're a lot cheaper but you need to consider possible driving limitations (mileage, no business use or commuting, etc.)

A friend was smacked by a red-light runner while driving his ragtop Mark Minx a couple of years ago. It too was in very good condition. The insurance company (I think it was Hagerty) paid close to $18K to restore it, including $4K just on the front grill straightening and re-chroming. Even tho its very rare (supposedly six known survivors of this particular year/model) I really wonder if there are any buyers out there who would pay $18K for it.
 
M

mattinoz

Donation Time
Yes insured value is tricky but I also think of it in terms of how much a substantial rebuild would cost rather than just it's re-sale value. Not that the numbers directly relate to your market, but I have insured one of my Alpines for $25K . I would not expect to get much more than 2/3 of that if I sold it.

In this country most states have what is called Club or Historic Vehicle registration where the owner buys a licence to drive their classic on a limited basis, being either 45 or 90 days per year. There is no restriction as to what reason you use it, but the driver must keep a logbook entry of each journey. The other advantage of this limited use is that insurance premiums are also reduced to reflect the reduced risk, i.e. not being on the road full time. The annual premium for the above Fully Comprehensive cover is around $160, a far cry from the over $600 need for a fully road registered vehicle.
 
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