northernz Posted May 11, 2015 Share #1 Posted May 11, 2015 Hey all, I just got an email from Mike at Whitehead performance. He is having my restored 1971 blue on blue 240Z appraised so I can update my insurance. I don't have the report in hand yet but it's going to be valued north of $50,000!!!!! I know I wouldn't get that price in a sale, but for insurance coverage thats great news! I'll be interested to see the report, It may be time for a review of your agreed value with your insurance company! Mark 2 Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/ Share on other sites More sharing options...
Montezuma Posted May 11, 2015 Share #2 Posted May 11, 2015 Wow that is impressive. I am doing a 71 Blue on Blue right now. I am doing it complete but not a restorage but more of a refresh to a resto-mod. It will have a top notch paint job and all new blue interior, When the car is done is will go up for sale I am hoping for $13 to $15K. Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469579 Share on other sites More sharing options...
psdenno Posted May 12, 2015 Share #3 Posted May 12, 2015 Hey all, I just got an email from Mike at Whitehead performance. He is having my restored 1971 blue on blue 240Z appraised so I can update my insurance. I don't have the report in hand yet but it's going to be valued north of $50,000!!!!! I know I wouldn't get that price in a sale, but for insurance coverage thats great news! I'll be interested to see the report, It may be time for a review of your agreed value with your insurance company! Mark How does $50K compare to what you thought it might be appraised for? ​ BTW, just paid my annual collector car insurance premium today. Value must be going up since the annual premium sure is Dennis Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469584 Share on other sites More sharing options...
northernz Posted May 12, 2015 Author Share #4 Posted May 12, 2015 I was hoping for 30,000 tops! Nice to know that I will be able to recoup my costs in the event of a total loss. According to Mike, the appraiser said that it was a very clean nearly showroom condition car, and that Zeds in this condition go for 50,000 or more. Not sure where he got those numbers, but I'll take it to the Insurers that's for sure!Montezuma, maybe you should aim a little higher on the resale of your car. Would love to see some pictures of itMark Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469594 Share on other sites More sharing options...
lcord Posted May 12, 2015 Share #5 Posted May 12, 2015 Do you have to specifically have to register your car as an antique with the DMV to get that type of coverage or just a standard registration for your insurance company to pay that kind of money in case of an accident? I have mine covered for $30k, but I don't think it's registered as a classic or antique.Thanks Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469615 Share on other sites More sharing options...
psdenno Posted May 12, 2015 Share #6 Posted May 12, 2015 Do you have to specifically have to register your car as an antique with the DMV to get that type of coverage or just a standard registration for your insurance company to pay that kind of money in case of an accident? I have mine covered for $30k, but I don't think it's registered as a classic or antique.ThanksI have three cars insured with "classic car" coverage. Only one has historic car CA license plates. No need to designate your car as historic. You just have to live with the limits a classic policy places on vehicle use - like annual miles driven, garaged, not used as daily driver.Dennis Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469617 Share on other sites More sharing options...
Sean240Z Posted May 12, 2015 Share #7 Posted May 12, 2015 Just saw this thread after I posted the Hagerty Price Guide for a 1973 240z here: http://www.classiczcars.com/topic/51469-hagerty-price-guide-1973-240z/ Looks like the value of the 240z has jumped 35% since January! Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469624 Share on other sites More sharing options...
bartsscooterservice Posted May 12, 2015 Share #8 Posted May 12, 2015 It's going up on Hagerty to now... 30K condition 2 Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469630 Share on other sites More sharing options...
siteunseen Posted May 12, 2015 Share #9 Posted May 12, 2015 Is this the car that was recently stolen and found in a field? I might not look too hard for $50K. Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469632 Share on other sites More sharing options...
sdyck Posted May 12, 2015 Share #10 Posted May 12, 2015 Doesn't a higher valuation mean higher premiums? I think I'd want it as close to replacement value as possible. $50k should cover a condition 1 trailer queen. Nice validation of the value of the restoration though, pics are looking great in your other thread, you must be itching to go for a drive!! Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469649 Share on other sites More sharing options...
Patcon Posted May 13, 2015 Share #11 Posted May 13, 2015 This is sort of what I am seeing in the project car prices too. What I was hedging at in "$4000 for this" thread. I believe the days of a cheap Z car project are coming to an end. Bitter sweet, would be nice to get the recognition of how great these cars are and the dollars to justify saving them, but I like my cheap Z car projects. Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469676 Share on other sites More sharing options...
northernz Posted May 13, 2015 Author Share #12 Posted May 13, 2015 Premium will no doubt be higher, but I have not spoken to the Insurance compay yet. I insure the car as a daily driver , but after it is parked for the winter I drop the comprehensive and collision, which saves some money. As Mike said, I am one of the first to have an appraised value that is more than the cost of restoration! This is not the car that was stolen, but they are both currently at the same shop!As for "itching for a drive", that is the biggest understatement of the year!!! I saw the Garage Squad 240Z episode on TV today, and the sound of that sweet engine had me climbing the walls in anticipation! Link to comment https://www.classiczcars.com/topic/51467-fantastic-appraisal/#findComment-469681 Share on other sites More sharing options...
Yarb
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