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Post Info TOPIC: Market value vs Replacement value?
Pechetr


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Market value vs Replacement value?
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I am looking to advertise my 68 Beaumont over the next couple of weeks and am curious as to what I should list it at. It appraised last fall at 63k (replacement value) and I know I am not going to be asking that for it. The car is a resto mod and drives like a modern day automobile. My thoughts are around 35k.

Any advice would be greatly appreciated.

 

Some items to consider:

Body/paint is a 8.5/10

Interior 9/10

200-4r raptor tranny,

Upgraded brakes/steering/suspension

468 cu in aluminum heads/intake/water pump etc. 525hp and 550 ft lbs torque.



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trucker


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Just need a guy to love it that much I guess. Nice car,you may have a problem with the price. I suppose it's possible though.



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hwscowboy


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I always figure a car is worth about half the appraisal value since it is mostly for insurance purposes,So your definitely in the ball park with your price in my opinion.Now whether the market will support that price is another thing..The market seems to be extremely soft right now even in alberta.Lots of cars sitting on the market right now and the only thing selling seems to be in the under 10,000 range.But maybe someone out there needs to have it,good luck with the sale.

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Blackheart4355


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Well,

In a better market..ya you might get 35K for it..but not now...my advice is find another car of similar value that is for sale and offer a trade...

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Shawn D.

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1984 Buick Grand National

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Pechetr


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It is a numbers matching 327/250 hp car with original interior (re-dyed) and one paint job since new. Not the original color and the car is a base model with no AC, no PS/PB. The car is in relatively nice shape but has a few small stress cracks in the usual fiberglass areas.



-- Edited by Pechetr on Tuesday 28th of May 2013 03:58:16 PM

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Pechetr


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Thanks guys....I would start at 35k, probably let it go for somewhere around 31-32k. as for the trade notion, that is something I would be open to. I actually have a guy wanting to trade me for a 64 vette convertible.....I just wanted to get a sense of what peoples thoughts are on the market vs replacement value comparison. I know the market is a little soft right now, but it does seem to be recovering from 2008-2009....

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Leo2+2


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That could be an interesting trade. What condition is the Vette in?



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trucker


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Pechetr wrote:

It is a numbers matching 327/250 hp car with original interior (re-dyed) and one paint job since new. Not the original color and the car is a base model with no AC, no PS/PB. The car is in relatively nice shape but has a few small stress cracks in the usual fiberglass areas.



-- Edited by Pechetr on Tuesday 28th of May 2013 03:58:16 PM

 I would do that trade in a heartbeat.Love the 63-64 Vettes!



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67BBSD


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64 vette driver is easily seen as a mid $30,000 car obviuosly more if better but 250hp is bottom of the pack - I'd trade too



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trucker


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67BBSD wrote:

64 vette driver is easily seen as a mid $30,000 car obviuosly more if better but 250hp is bottom of the pack - I'd trade too

 And in my eyes a corvette is a better investment,as far as the car "hobby" goes.



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ak 67sd


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Based on the info we see here, that trade makes the most sense if you want the most value for your car... The Bette will also sell quicker, IMO.

ak

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Pechetr


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Yeah I am kind of in the same mindset as you guys. I want to see the car in person first as I need to know the extent of the "stress cracking". It was originally a California car, so the birdcage should be good. I will keep you posted....

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Blackheart4355


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Pechetr,

Good call on investigating further..if you know anyone in your local Corvette club who can go with you to check it out...that much the better..but again if it checks out and you like the car..I'd jump all over it...that being said..I'm NOT a Corvette guy and am a bit skeptical on the mid $30K value someone mentioned above..if it was a big block car maybe..but a 327 car..I would think high $20K's is more likely...but like I said not a Corvette guy so I could be off by a country mile!

Best of luck and I hope this all works out for you!

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Shawn D.

1967 Parisienne 2+2 Convertible SOLD!

1984 Buick Grand National

2012 F-150 Ecoboost FX4
Pechetr


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Well I am a corvette guy (had 4) but I prefer the newer ones. I actually traded my 2004 Z06 Vette straight up for my Beaumont. I am actually thinking of keeping the Beaumont for awhile now after driving it again the last few days... I did have a guy offer me a 68 Firebird straight across, all numbers matching, but some little things about the car didn't sit well with me.

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Bob F


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hwscowboy wrote:

I always figure a car is worth about half the appraisal value since it is mostly for insurance purposes

 Help me understand market value versus replacement value.  Every appraisal I've gotten in the past (for classic car insurance) has resulted in an amount that would be equivalent to what it would cost me to purchase a car in similar condition in today's market.  What does replacement value mean, I don't understand why you'd get an appraisal that is so high compared to what you'd sell the car for?  (Don't take it as a criticism or the wrong way, you have a really nice car)



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dualquadpete


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When i was in W.V. I asked a few "car guys" that had their ride for sale at a cruise in & car show later in week, if anything was selling down there. One guy said he's dropped the price 3 times on his Buick Regal & still not an offer!! Same story with a 34 Ford Street Rod that was nice & clean,state inspected & was down to just over $24G's well worth it IMOP. Guys at show couldn't believe that we don't have a annual inspection program here. I asked how much it cost to get a vehicle insp. & between $12 & $15 does it!! & that includes pulling at least 2 wheels, all elect. strg. & brakes ,glass, exhaust etc. Didn't sound too far off our Certification insp. here in Ont. but that only happens when it changes ownership!! Their lic. Tag & insp. sticker run out the same date. NO insp. papers, no Lic tag, & your parked as it's very visable that your out of date!!!

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Pechetr


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I am in no hurry and would prefer to wait for the right buyer rather than give it away. I am actually contemplating fabricating a custom console for the car now.

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67BBSD


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Bob F wrote:
hwscowboy wrote:

I always figure a car is worth about half the appraisal value since it is mostly for insurance purposes

 Help me understand market value versus replacement value.  Every appraisal I've gotten in the past (for classic car insurance) has resulted in an amount that would be equivalent to what it would cost me to purchase a car in similar condition in today's market.  What does replacement value mean, I don't understand why you'd get an appraisal that is so high compared to what you'd sell the car for?  (Don't take it as a criticism or the wrong way, you have a really nice car)

 you are correct - 'market value' is 'replacement value' if you were looking to 'replace' your vehicle in today's 'market' what would it cost to purchase a similar model in similar condition --- insurance companies call it ACV 'actual cash value' -- yes there are vehicles over appraised and yes some people think that because it cost 'x' amount of dollars to restore it to a certain condition that its worth that much - incorrect



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Pechetr


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67BBSD...Thanks for clearing it up for me. That actually helps.

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