NADA Has increased values of classics!

[d.reese 13]

Had a guy ask at the show how much a car like ours was worth and I quoted NADA.com from recent weeks. Then got home and checked last night, found our cars have gained 7000 to 8000 on high end, feels better than my freakin 401!

[Pakrat 1,043]

I did notice a spike the other day but not like you are seeing, my car has less options though probably. The last check I had done was in February which hadn't changed since last fall, but as of May 1st it went up about 3-4k on the high end.

[69 scj coupe 10]

Yep, according to NADA my 69 scj coupe has gone from $26K to $31K if in top shape. They also say you should be able to find one of the other 51 scj coupes for under 10 grand if it is complete and needing restoration. I sure would like to find some of those $10,000 scj coupes.

[Pakrat 1,043]

Amazing how being a coupe drags the value down eh?:tongue_smilie:

 

Yeah it's obviously flawed where low number marti report type cars come in to play but it is unfortunately about the only tool we have aside from a Kelly bluebook and it's nice when you have one of the majority cars and it works in your favor. The only way to know for sure is to have an appraisal done in writing.

 

As barrett jackson has proved time and time again these cars are worth exactly what someone is willing to pay for them.

[d.reese 13]

I don' get it either, the coupes where suposed to be lighter and faster cause of that?

Some of my freinds had one and they really made tough looking cars back in my day. Jacked up a little in the rear with the wide tires and all. I can't figure it out, I been thinking of doing a 67 or a 68 coupe PAK.

[69 scj coupe 10]

It's not all coupes that take a hit. NADA list my 66 KGT coupe at $41,000 if in #1 condition. I think that is fair if not alittle high. It's just the 69/70 cj coupes that don't get any respect from NADA. OK rant over. I just ought to be happy that all the cars I own were bought for way under NADA pricing.

 

Larry

[69grandecj 0]

Yeah - no respect.

[stlpipeman 10]

Man.... There's not much sellin' around here, I dunno.

[coz 108]

Pipeman has it right - nothing much is selling and the car is worth exactly what someone will pay for it. Nothing more.... These days it does not matter what NADA lists, the market will not bear those prices. Plus using NADA is really lame for our type cars. NADA would be great if you are planning to trade it in but who in their right mind would do that?

 

You want a true determination of what you car is worth - find one that just sold (not just listed on Ebay) and there is the base.

 

And no knock on Coupes but they just aren't as desireable as FB's, verts, special equipped, etc... They weren't back then and they aren't now.

 

I went to a couple of auctions recently looking for my Vert and it was surprising what people THINK their cars are worth. People have to stop watching Barrett Jackson.... At one point up in Carlisle I watched 20 plus cars go across the floor w/o coming close to the reserve. Made for a very boring day....

[bnickel 10,004]

well in my case NADA is fairly close to what i think my car should sell for, a little low but not by a whole lot. they have a seperate listing for the GT now but the price isn't much different than a regular coupe....i think they are still using that worthless 10% factor they always had before which isn't even close IMO. hell the GT fastbacks and verts are bringing from $35-50K for an M code or S code and the CJ cars are way above that

[Cheo69GT 1]

Now, with NADA pricing them somewhat high. What do you do about classic insurance? Would they get close to NADA for replacement? Hagerty agrees to value (mostly what you think). So, should we increase our replacement value (and, premium costs), based on NADA?

[bnickel 10,004]

i would say that you should probably update your coverage every couple of years anyway.

[Pakrat 1,043]

From someone who got their car totalled I couldn't agree more, I certainly should have upped mine sooner. Fortunately I didn't have to rely on my insurance to settle but if I did I might have gotten shafted a few grand. I still say if your car is in good shape and of any value that you should get an appraisal first and then decide on insurance value. If I would of had to have a salvage title on my car like some states I would have moved on so then it becomes an issue of replacement value not actual value.

[coz 108]

I review and update my insurance every year. Last year Hagerty actually contacted me to bump up the agreed replacement value. Right now I am insured for 50k and it costs under $400 a year. Wish my other cars were that cheap to insure.....

 

And to clarify, I wasn't knocking those that follow NADA pricing - just pointing out that I doubt those numbers are followed as closely as say a car that's only 5 years old. NADA is great for ballparking trade in and sell by owner cars but I would not use them for price outs or insurance numbers unless someone is low balling the price below the NADA value for a classic or unique vehicle.