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73tiiDavidPA

Hagerty and Valuation

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Hello All,

I recently reviewed and upped the valuation of the tii from 15k to 25k. I've owned it for 20 years now and never really think about value / investment. I'm sort of torn between "wow, that's insane" and "on the perfect day with the perfect buyer perhaps sometime in the near future". I don't want to be crazy stupid and think my car is worth a mint, but after reading the tii restoration story and seeing prices of turbos, and thinking what it would cost to buy a similar car, I don't think I'm too crazy. My initial thought was 20k, but I also think it would be hard to find an original survivor tii for that.

The car is a survivor, non-sunroof, original paint, non-cracked dash, good interior (the AC is not functioning), original - not repo - alloys, blows a little smoke past the valves, has that wonderful little crunch coming down into 2nd gear, and has numerous little scratches and dings (which I don't plan on fixing ever). the ODO reads 36,xxx (135,xxx) and it runs well. It has no rust and it straight.

I've posted some photos, so go ahead and let me know if I'm insane.

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Original and unmolested and no rust?

I say 15k-20k for the right buyer who is looking for an original.

A low mile Tii just went for $37,500 per the Roundel...

These are getting harder and harder to find in original shape... not many left like that.

I would pay that as I have already spent that on mine and it is far from original...

And the AC system is very simple.... a little work and you could fix the leak...

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I had my mostly original 68 2002 on an agreed upon Hagerty policy insured for $12K, and then this happened in 2008. The estimates for repair were more than my policy would cover. Fortunately, the other driver's insurance company was fair and paid out a settlement which allowed me to repair the car. So, if you like your car, you should be thinking about total replacement cost and I think at least 25K would make you "whole" in the event of a catastrophic loss. If this doesn't scare you into upping your valuation folks, I don't know what will!

3.jpg

And just so you know, it all worked out in the end, here is the repaired car--everything out back was replaced with the exception of the gascap, badges and driver's quarter panel:

IMG_0083.jpg

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I think you'd be hard-pressed to replace your car for <$20K.

You can get it appraised of course, if you wish. Then again, you can probably find an appraiser who would value it at $10K or $30K also!

;-)

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David, I have the equivalent of your car here in CA, except that it is Malaga rather than Verona. Original paint, original interior (with upgraded Recaros, however), original engine and drivetrain, and original alloy wheels. It also shows total mileage of 136,000. I recently upped its value to $20k, but I'm thinking maybe it should go up another $5k based on the accident photos in this thread. Who knows?

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yes DavidPA, insure for $28,000 replacement value

your seats are fagged as well as the carpet,

and you should rip out all A/C parts, install

non-a/c consol, and then never drive while

anyone else is out on the road

either replace the seats with crisp correct E21

sport seats or have a professional restore

your seats with BMWOriginal material so they

don't look 'stuffed'. The original seat route is not

the best if you enjoy driving over 45 mph because they

offer ZERO side support

Yours is a very nice car. -=Like=-

t_dscn0391_237.jpg

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I agree with CD. With the pricing going up on tii's $28K is a good valuation. Your car is an excellent example of an unmolested tii.

I have a fully restored 73 tii and I would not consider a $25k offer.

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Don't ever list your car For Sale for just $25K. It will be gone in a minute and you'll spend the rest of your life kicking yourself in the butt.

VERY nice car you have.

mac.

P.S. Wouldn't you like to see the Tii that the ROUNDEL reported sold for $37500? .............. and didn't Paul Cain sell a '72 Tii he comprehensively went through for $38K a year or two ago (in just ONE day)?

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This is a good thread! Thanks for bringing it up Dave! My coverage is too low on all my '02's, especially the tii's! Gonna correct that!

As for the tii in the current Roundel article, I don't think the origiinal block was even installed (it came with the car, but the upgraded block stayed in the car I believe). That's a nice car, but I wouldn't call it "original"...$37k is very strong money!

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I don't think $25K is unreasonable.

I think 6 months ago, I might have thought it was too high. But I have to change that mindset.

I just upped mine a few months ago to $15K, and that might be on the low side. I'll put it on my list of things to do. Glad you asked the question to get the perspective - I should have done that.

Scott

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Guest schnelltii

My question is this....This is my first 02 and after some rust repair done at my hands, a rocker panel replacement (that came out quite well I must say) some suspension and wheel upgrades, and E-21 Recaros. I had Hagerty insure it for 17k. I only sent them a few pictures and nobody came out to inspect the car. I assume the price I insured it for sets the premium. If I was to "up" the value that would up my premium??? But judging how inexpensive the premium is to begin with how much more could it possibly go up? It seems safe to say I could insure it for 25k and only pay another $70-80 a year. Am I missing something? Seems like a no brainer. Ohhhh and its a 74tii

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Hagerty will happily cover the car for the increased value, and pass on a higher premium! My tii is insured with them for $28K presently. I plan to check with American Collector to see their rates before upping the value and renewing with Hagerty next month.

I had my car appraised locally when I initially took out the Hagerty policy in 2002.

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John,

I've had American Collectors Ins for a long time, and they have been very fair to deal with! I'd recommend you at least get a quote from them.

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I have never had Hagerty ask for an professional valuation. I have insured 10 or so cars with them that ranged from 90k to 15k and in the case of the higher value stuff, I updated it it every 24 mos or so. I had good service from them the one time I filed a claim (piece of a cinder block broke a windshield and scaped up my roof, claim was 3800). Remember all insurance is risk management....cost vs. risk. As these cars get more valuable, both increase.

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