My appraisal - UPDATE

[blown motor]

I had to get a new appraisal for my 74 Challenger 340 automatic. The paint is shiny but there are some issues which are shown in the pictures. The chrome is excellent and so is the interior except I have never replaced the rear interior panels. It appraised at $32,500 CDN.

[Katfish]

That seems low?

[Jay Bee]

I agree with that being low. If you went to a Continental Currency Exchange outlet today that would be like $23,600.00USD.

[blown motor]

The car is shiny but under the shiny paint it's fugly. I've debated with myself often about getting it redone but I feel I would have to spend $20K to do it. In it's current state I can't consider it to be in excellent condition. Hagerty list a 74 with 360 4bbl in good condition at $22,100.

[RUNCHARGER]

Nope that's still low. I don't think Hagerty would be able to find a 74, 360 E-body in good shape for $22,100 either.

[Brads70]

Agreed! Too low! No way you could replace it for that kind of money. So if you get in a fender bender like I did and to paint the car they allowed 24 k , with your coverage they would write it off!
 Are you with Hagerty? I am and have agreed coverage for 60k, no appraisals required. I'd say more like 45-50 would be where you want to be? 

[blown motor]

Thanks for the input guys. I think I'll go it's a second opinion. This should be interesting.

[jimynick]

Who did the appraisal Murray? Mine was valued at $40k and I think that's a bit low myself. 

[anlauto]

Since switching to Hagerty I don't bother with appraisals....they are a waste of time...

[blown motor]

Who did the appraisal Murray? Mine was valued at $40k and I think that's a bit low myself. 

When was your's appraised @jimynick? If it as when you finished it that was a couple years ago. But your's is numbers matching isn't it? And a four speed.

I think, as Brad mentioned, I can't replace it for that kind of money.

[700 AKN]

When I purchased my AAR back 1n 1985 I never did any of the appraisal stuff.  I just went to get the ownership signed over and get it insured with Co-Operators.  This was 1985 so I was not thinking about value.  When they got the insurance calculated I was happy with the price and thought nothing more about it.  A few years later I found out that they had the car listed under "Valiant" and if I had an accident and the car was a right-off I would have received $2,000.00 Can.  That's when I decided to get it appraised. After the appraisal the price was higher, but did not appraise it every year.  Now that Hagerty just adjusts the value for fair market value I pay more each year for my cuda then my 2 every day vehicles combined.  Like everyone is saying your appraised value is very low.  Make sure it's not listed under Valiant!
    

[blown motor]

Well I went for another appraisal. I should have the results back within a week. The second appraiser seemed to be more thorough than the first one. This should be interesting.

[torredcuda]

Since switching to Hagerty I don't bother with appraisals....they are a waste of time...

When I dumped Hagerty and went to Grundy they didn`t need one either. I then asked to up my amount a year later and they just took a couple days to approve it with no issues.

[blown motor]

Well I bit the bullet and and paid for two new appraisals, one for the Challenger and one for the Charger. The new appraisal for the Challenger is $40,000 vs $32,500 from the first appraiser. I think that's more realistic. The appraisal for the Charger jumped $25,000 which I think is also more realistic but still not over inflated.

[dodj]

Since switching to Hagerty I don't bother with appraisals....they are a waste of time...

What do you do? Just tell them the value you would like?