Hello all,new guy from NJ here
February 16th, 2012, 12:07 PM
#1
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Hello all,new guy from NJ here
Hello everyone;
To think after owning my car for over a dozen years I just found this site a few nights ago while doing some research on my car.
My Olds is a Sapphire Blue w/ white top '68 "98" convertible which has been in the family since my father bought it new and the car I grew up in. About 11 years ago I had it stripped and painted original and a new top installed and over the years had some mechanicals taken care of. The car is all original and in excellent running condition and looks beautiful......this is not an ad to sell, just conversation.
In the spirit of complete honesty,the research I was doing was looking for similar cars which are for sale or that have sold at auction recently as I've been considering selling. I've begun to think I've lost interest in it as my time is so consumed w/ the kids and other areas of life. The car rarely leaves the garage and if I manage to put 300 miles on it a year, that's a lot. I've considered the history of the car and what it could mean to the kids in another 20 or so years but to be honest I'm not sure if I'm interested in keeping it around anymore and keeping up on the detailing and care. My days of car shows are very rare and way too far between these days.
Last year I did have the car appraised (mainly for ins purposes because they kept increasing the car's value every year) and the appraiser gave me a his thoughts on the car. Regardless of the rarity of the car (less than 4,000 made), part of his reasoning was it is not a vehicle that is widely sought after, his appraisal came in considerably under the NADA Classic Car Guide, (even the Average Retail, not to mention the High Retail) which I knew was already a bit skewed toward the high side. I know a car is only worth what the market bears but it's disappointing to see such a wide difference and confusing as to what to do as far as insuring it against damage even though the cost for a higher value isn't really that great.
It's nice to see a group dedicated to a car manufacturer that never should have been shut down as Olds was far better than Buick or Pontiac.
Looking around the website it's great to see so many good looking vehicles that are loved and cared for, maybe this is what my spirit needed to keep the ole' girl a bit longer,she has been in the family for soo long and when we do get to spend time together, it's makes the day that much better. Sometimes I get the feeling like she talks to me,especially on the open road,when there are no other cars around and I get a whisper in my ear saying "Let's run", "put the pedal down, open me up let me breathe and stretch my legs again".
Well, sorry to ramble guys (or gals if there are any out there) it seems this will be a nice place to drop in from time to time and hopefully I'll get a few pics up sometime soon. There are some questions I've been looking for answers to and this seems like a good place.
jerseymike
To think after owning my car for over a dozen years I just found this site a few nights ago while doing some research on my car.
My Olds is a Sapphire Blue w/ white top '68 "98" convertible which has been in the family since my father bought it new and the car I grew up in. About 11 years ago I had it stripped and painted original and a new top installed and over the years had some mechanicals taken care of. The car is all original and in excellent running condition and looks beautiful......this is not an ad to sell, just conversation.
In the spirit of complete honesty,the research I was doing was looking for similar cars which are for sale or that have sold at auction recently as I've been considering selling. I've begun to think I've lost interest in it as my time is so consumed w/ the kids and other areas of life. The car rarely leaves the garage and if I manage to put 300 miles on it a year, that's a lot. I've considered the history of the car and what it could mean to the kids in another 20 or so years but to be honest I'm not sure if I'm interested in keeping it around anymore and keeping up on the detailing and care. My days of car shows are very rare and way too far between these days.
Last year I did have the car appraised (mainly for ins purposes because they kept increasing the car's value every year) and the appraiser gave me a his thoughts on the car. Regardless of the rarity of the car (less than 4,000 made), part of his reasoning was it is not a vehicle that is widely sought after, his appraisal came in considerably under the NADA Classic Car Guide, (even the Average Retail, not to mention the High Retail) which I knew was already a bit skewed toward the high side. I know a car is only worth what the market bears but it's disappointing to see such a wide difference and confusing as to what to do as far as insuring it against damage even though the cost for a higher value isn't really that great.
It's nice to see a group dedicated to a car manufacturer that never should have been shut down as Olds was far better than Buick or Pontiac.
Looking around the website it's great to see so many good looking vehicles that are loved and cared for, maybe this is what my spirit needed to keep the ole' girl a bit longer,she has been in the family for soo long and when we do get to spend time together, it's makes the day that much better. Sometimes I get the feeling like she talks to me,especially on the open road,when there are no other cars around and I get a whisper in my ear saying "Let's run", "put the pedal down, open me up let me breathe and stretch my legs again".
Well, sorry to ramble guys (or gals if there are any out there) it seems this will be a nice place to drop in from time to time and hopefully I'll get a few pics up sometime soon. There are some questions I've been looking for answers to and this seems like a good place.
jerseymike
Welcome to our site!! Nice story - we do like to see pics on here, lol!!
February 16th, 2012, 01:37 PM
#5
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Join Date: Jun 2009
Location: southeastern Michigan
Posts: 14,160
Last year I did have the car appraised (mainly for ins purposes because they kept increasing the car's value every year) and the appraiser gave me a his thoughts on the car. Regardless of the rarity of the car (less than 4,000 made), part of his reasoning was it is not a vehicle that is widely sought after, his appraisal came in considerably under the NADA Classic Car Guide, (even the Average Retail, not to mention the High Retail) which I knew was already a bit skewed toward the high side.
First, your car isn't really "all original" anymore since you've had it repainted and a new top put on. I think most definitions of "original" would mean at least that the car still wears its original paint, even if it is a bit faded by now. Ditto for the top.
Doesn't mean your car isn't a wonderful car, and it sure sounds like one I'd like to own.
Getting back to its value, your appraiser is correct in that a car has to be seen as desirable in addition to being rare and in good condition to make it valuable. Your car is rare, and it is in good condition, but that doesn't automatically make a car highly sought-after.
On the other hand, full-size Olds convertibles from that era DO command some value, and, while you haven't actually stated what you think your car is worth and what your appraiser told you the car is worth, your car IS worth something.
The Old Cars Price Guide lists the value of a '68 Ninety-Eight convertible in #2 (showroom) condition at about $15,000. That's nothing to sneeze at. In #3 condition ("car show" but not showroom), the value shown is about $10,000.
If you were thinking it's worth tens of thousands of dollars, then, yes, you will be disappointed. Numbers-matching 442's command that kind of money. Mile-long luxury barges from the late '60s don't.
I'd be curious to know what your appraiser gave you as the car's value.
We'd also love to see some photos.
February 16th, 2012, 07:51 PM
#7
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Location: Brick,NJ
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Hey Jaunty75,
I should have known better than mention all origional w/o the quotes, I should have said restored stock, but it is origional matching using materials of the time of reconditioning.
As far as the appraisial, which was done 4/2010, listed as a #3 vehicle came to $12k. My statement or using the phrase disappointed in reference to how far off the NADA Guide can be. That guide listes the Avg. Retail @ $25,900 which is where I would consider this car to fall which also makes it difficult to be sure I have it properly insured.
When the car was first finished, I took the car to 3 different auto antique dealers and they all gave me the same ballpark figure for the car of $12k back in 2001 and 2 of the 3 were willing to purchase it for that amount at the time saying they knew they could get $14-$16k for it. This is going to sound nuts, but I feel bad for the car because of how well it has been cared for, the real value in it to me is its personal value and I'm at a cross roads now of what to do w/ her but at the same time I want to be sure she is properly covered in case of any incidents. As I said my Ins. Co. increases the value of the car by $500.00, they call it something like value appreciation so last year I dropped the value to $15k from I think around $22k because when I first insured it I went off the values I got from the dealers.
Well anyway.....thanks for the conversation and thank for listening. If anyone has thoughts on insurance tips I'm all ears and open to suggestions.
Also I just scanned in some picts so if I could get some idea how to post them I'd be happy to in the next day or so and if you could tell me how to use one w/ my name that would be cool too.
I should have known better than mention all origional w/o the quotes, I should have said restored stock, but it is origional matching using materials of the time of reconditioning.
As far as the appraisial, which was done 4/2010, listed as a #3 vehicle came to $12k. My statement or using the phrase disappointed in reference to how far off the NADA Guide can be. That guide listes the Avg. Retail @ $25,900 which is where I would consider this car to fall which also makes it difficult to be sure I have it properly insured.
When the car was first finished, I took the car to 3 different auto antique dealers and they all gave me the same ballpark figure for the car of $12k back in 2001 and 2 of the 3 were willing to purchase it for that amount at the time saying they knew they could get $14-$16k for it. This is going to sound nuts, but I feel bad for the car because of how well it has been cared for, the real value in it to me is its personal value and I'm at a cross roads now of what to do w/ her but at the same time I want to be sure she is properly covered in case of any incidents. As I said my Ins. Co. increases the value of the car by $500.00, they call it something like value appreciation so last year I dropped the value to $15k from I think around $22k because when I first insured it I went off the values I got from the dealers.
Well anyway.....thanks for the conversation and thank for listening. If anyone has thoughts on insurance tips I'm all ears and open to suggestions.
Also I just scanned in some picts so if I could get some idea how to post them I'd be happy to in the next day or so and if you could tell me how to use one w/ my name that would be cool too.
February 16th, 2012, 08:35 PM
#8
Just an Olds Guy
Join Date: Jul 2008
Location: Edmonton, AB. And "I am Can 'eh' jun - eh"
Posts: 24,525
jerseymike, welcome to C.O.
Interesting story. Although my car is a 72 Cutlass S I am a huge 98 fan. I'm so glad you have kept it alive and preserved it to your satisfaction. I wouldn't be too concerned about valuations on it; you seem to have a realistic handle on what you would sell it for when/if the time comes. The good thing is you don't have to sell it. I think if you look at the overall market, there are getting to be less of these cars surviviing in whatever shape you want to describe. And you know that in terms of production and the big car market, most of them take a $hit kicking just because of today's overall market preference for intermediate classes.
Like you, I had an appraisal done (mine was in 2008) and the valuation was lower than I thought it would be. There were considerably more A bodies made than B/C though. And there's an emerging/developing market for aftermarket supplies that is catering more to A bodies than B/C. Just out of curiosity, did you get references on the appraiser before he did the eval? Based on past experience (3 appraisals) some seem to know the vehicles/market and do real research before submitting their work. Others don't seem to know much about the vehicle except what they read in books. It really helps to have lived through the days these cars were new.
Hope you can afford to keep it for the kids. If you get tired of detailing it, what better project to get them interested in cars than to help you with the grunt work.
One other thing you might want to look at - Wild About Cars website. Worth the clik of a mouse my friend. Link is attached to my sig line.
Interesting story. Although my car is a 72 Cutlass S I am a huge 98 fan. I'm so glad you have kept it alive and preserved it to your satisfaction. I wouldn't be too concerned about valuations on it; you seem to have a realistic handle on what you would sell it for when/if the time comes. The good thing is you don't have to sell it. I think if you look at the overall market, there are getting to be less of these cars surviviing in whatever shape you want to describe. And you know that in terms of production and the big car market, most of them take a $hit kicking just because of today's overall market preference for intermediate classes.
Like you, I had an appraisal done (mine was in 2008) and the valuation was lower than I thought it would be. There were considerably more A bodies made than B/C though. And there's an emerging/developing market for aftermarket supplies that is catering more to A bodies than B/C. Just out of curiosity, did you get references on the appraiser before he did the eval? Based on past experience (3 appraisals) some seem to know the vehicles/market and do real research before submitting their work. Others don't seem to know much about the vehicle except what they read in books. It really helps to have lived through the days these cars were new.
Hope you can afford to keep it for the kids. If you get tired of detailing it, what better project to get them interested in cars than to help you with the grunt work.
One other thing you might want to look at - Wild About Cars website. Worth the clik of a mouse my friend. Link is attached to my sig line.
February 16th, 2012, 09:04 PM
#9
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Location: Brick,NJ
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Hi Allen, I only had the 1 appraisial done and to be honest I cannot remember how I came across the (older) gentleman who did it,but I have to say he was very knowledgeable and emailed me his qualifications/resume and we spoke on the phone a copuple times before we did the appraisial so I did feel comfortable with the process. I've learned how not to see things thru rose colored glasses and I know my 98 has its flaws but the valuation process can get a bit overwhelming so I'm not too concerned except for the insurance.
I've tried taking it to sporting events wher emy kids are playing and find myself worring the whole time some kids is gonna end up scratching it or some dingbat will park next to it even thought I parked well out of the way of all other vehicles. I've enven been afraid of taking up 2 spots because someone might get pissed and intentionally squeeze in....Guess I'm a bit paranoid but I've been to car shows and seen people in action who are pretty clueless.
I've tried taking it to sporting events wher emy kids are playing and find myself worring the whole time some kids is gonna end up scratching it or some dingbat will park next to it even thought I parked well out of the way of all other vehicles. I've enven been afraid of taking up 2 spots because someone might get pissed and intentionally squeeze in....Guess I'm a bit paranoid but I've been to car shows and seen people in action who are pretty clueless.
February 16th, 2012, 09:37 PM
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February 16th, 2012, 09:48 PM
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scan0006.jpg
scan0007.jpg
These were taken in April of '01 when she had her facelift and the day she came home. Since then I had new springs and shock installed so her rear sits a bit more level and doesn't droop.
scan0007.jpg
These were taken in April of '01 when she had her facelift and the day she came home. Since then I had new springs and shock installed so her rear sits a bit more level and doesn't droop.
February 17th, 2012, 04:52 AM
#13
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As far as the appraisial, which was done 4/2010, listed as a #3 vehicle came to $12k. My statement or using the phrase disappointed in reference to how far off the NADA Guide can be. That guide listes the Avg. Retail @ $25,900 which is where I would consider this car to fall which also makes it difficult to be sure I have it properly insured.
This is going to sound nuts, but I feel bad for the car because of how well it has been cared for, the real value in it to me is its personal value and I'm at a cross roads now of what to do w/ her
February 17th, 2012, 04:55 AM
#14
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She's a beauty in those photos.
I know what you mean about fear of damage. You just can't leave it unattended if you're going to be worrying. Just drive it to cruise around, stop at the ice cream stand, take it to car shows where you'll always be right next to it, and that sort of thing.
I know what you mean about fear of damage. You just can't leave it unattended if you're going to be worrying. Just drive it to cruise around, stop at the ice cream stand, take it to car shows where you'll always be right next to it, and that sort of thing.
February 17th, 2012, 10:09 AM
#15
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Join Date: Apr 2010
Location: Connecticut
Posts: 1,471
Attachment 40740
Attachment 40741
These were taken in April of '01 when she had her facelift and the day she came home. Since then I had new springs and shock installed so her rear sits a bit more level and doesn't droop.
Attachment 40741
These were taken in April of '01 when she had her facelift and the day she came home. Since then I had new springs and shock installed so her rear sits a bit more level and doesn't droop.
Hang on to that car...it doesn't have to be the most valuable car on paper to hold plenty of value to you! Keep it and enjoy it!
February 17th, 2012, 05:51 PM
#16
Just an Olds Guy
Join Date: Jul 2008
Location: Edmonton, AB. And "I am Can 'eh' jun - eh"
Posts: 24,525
Anyway for the price I pay for insurance on a classic, it's cheap. And it's full replacement value. There is a clause in my insurance that I can't take the car to some place/event and park it where it's out of eyesight. So that's not a problem for me.
Looked at your pics. You sir, have a gorgeous Land Yacht there. I'd sail that beauty anywhere with pride and a big smile! I have always loved those big cars.
February 17th, 2012, 06:27 PM
#17
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Hi Allan, thanks for the compliment. As far as the discussion on value, I hope it has been a misunderstanding, I don't believe my car is way undervalued and I can see things for what they really are. While I do believe my car is an "average retail" (NADA terminology) vehicle and fits their explaination of such a car, I don't feel as though I'm being ripped off or anything. It's just nice to know what the value is in case the ins is ever needed to be used.
My Ins Co actually encourages people to drive their vehicles and I believe I get up to 5k miles a year of usage. They say "they understand people want to use their cars for other trips than just car shows" or something along those lines.
My Ins Co actually encourages people to drive their vehicles and I believe I get up to 5k miles a year of usage. They say "they understand people want to use their cars for other trips than just car shows" or something along those lines.
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