nukesec1

For insurance purposes......I had to get an appraisal on the Cutlass. I was VERY shocked! The licensed appraiser that appraised it owned a GM Dealership for 35 plus years and has restored (and owns) several Corvettes to Bloomington Gold Standards (Plus he currently owns my old '75 Chevelle Laguna S3 454/4spd). He crawled all over my Cutty. Not a nut or bolt unturned. And his final word was......"My mother had one of these....I don't think hers ever looked this good. Very good. Very, very good. I'm giving it A+ marks."

A+ marks was an appraisal of $15k. WOW! I'm shocked!

wolfman98

I assume you have the written appraisal. The car is obviously in very good condition and the only way to go from here is better and cleaner. Too many people don't care for their investment and they tend to depreciate. Like you said no bolt was left unchecked , an insurance appraiser is usually hard to please.

Oldsguy

Congrats!

agtw31

im curious,what did he say he based the appraisal value on?

why did you need an appraisal for insurance?

jeffreyalman

Sounds like your friend the appraiser did you a favor

But alas, mine are appraised for $20k ea and it means nothing unless they go up in smoke and are totalled or stolen which I do not want to happen (and that is only if they are stated value for insurance, and an appraisal was not needed to state the value)

Sorry to sound harsh but it means nothing if you are selling.

I tossed around the idea of selling the convertible a few months ago to try and save my house and listed it for $18k and got zero responses, not even an offer, and it is appraised for $20k

wolfman98

yeah this was for insurance which only covers you if it is destroyed or stolen But in case that did happen a high appraisal is good though your insurance will also be higher.as far as selling it you would rarely get what it is appraised at , the market determines that as well as it's condition.

agtw31

how this guy came up with a 15K appraisal figure for a 73 cutlass just cracks me up.
you can get a 100 point 73 hurst Olds for 15k.

i had this guy come from JJ Best to inspect a W-31 i sold a guy,because they were financing a portion of the sale price.

this inspector was a complete moron,didnt even know what he was looking at.

he told me my AM radio was worth $500,i told him id let him have it for $400 right now,let me get my tools

he didnt even look at the vin plate or the data plate,or check numbers,he just took about 10 pictures of the car,and had me take him for a ride in it.

he told me he gets $150 for each inspection,and of course,he also does appraisals.


classic car appraisals done by a car lot are worthless.unless it is detailed,and shows the reason for finding of value,such as actual previous sales of similar vehicles(not prices asked for)and is performed by a company that appraises cars,it is useless.

car dealers have no idea how to appraise an older car,they just throw a figure on a piece of paper they know you'd like to see,and crack you for at least $100

insurance companies laugh at appraisals by these guys.

ins.cos. pay you what they want to pay you. 99% of the time,if your car is damaged or stolen and recoverred,they don't want your car,they make you get it salvage titled,and cut you a check for nothing near what you thought you'd get.

adjusters make a commission based on a figure provided by the ins carrier on what they will pay.

the lower they settle for,the higher their commission.

dont like the amount they offer?get an attorney and get locked up in court for 5 years,after your attorney jams you with 5K in fees.