[DML] Re: [DMLWhats a Delorean Worth?

["David Teitelbaum" <jtrealty@xxxxxxxxxxx>]

It is interesting that this subject just came up. I just spoke to
Haggerty about insuring my Delorean. I have a policy now with an
agreed upon value of $20,000. At the time I got it (several years
back, like maybe 8?) to get more they wanted a bunch of pictures and a
professional appraisel. It would have also doubled my premium to go
from 20K to 30K.  Now when I spoke with them THEY suggested I increase
it to 25K or 30K. No appraisel, and for 25K it would add around $67
and to get to 30K from 20K $136. No appraisel, no pictures. When I
asked why he said they follow the auctions and recently Deloreans in
#1-2 condition are averaging 28K. It seems the values of our cars is
slowly rising and you should make sure that your insurance is set at
the correct value for your car. Do not start to think that YOUR car is
worth $28,000. This is for the better examples of a Delorean. Any
appraiser will start out with that number and, just like in concours
judging, any defects will reduce the value. Also, agreed upon value is
not necesaraly the market price. The old, tired, neglected cars will
go down in value as the costs of repairing (parts and labor) go up.
This also has the effect of pushing up the price for the well taken
care of cars since they do not need the repairs. The more the public
sees Deloreans and interest increases also has a positive effect on
values as more people consider buying one. Ken's show has many
indirect positive effects such as showcasing the Delorean Marque and
having our own National event. You never can tell where the next great
piece of publicity comes from and the enormous benefits it can
achieve. Keeping a car "bone stock" is still the best value. No one
ever gives MORE for a modified car generally, at least not enough to
cover the additional costs of the things you added. For instance I do
not think I would pay any more, if between 2 identical cars, 1 had
cruise control and the other did not. Just my Humble Opinion.
David Teitelbaum
vin 10757  


--- In dmcnews@xxxxxxxxxxxxxxx, "Dave Swingle" <swingle@xxxx> wrote:
> My guess is that all the stuff you have added, in particular the EFI 
> conversion, is scaring off anyone who is unfamiliar with the car, or 
> looks at the modifications as something that would be a maintenance 
> nightmare. My guess is that if someone took that into a DMC shop for 
> repairs, even they would not touch it. The advertising medium you 
> have chosen is not attracting people like list-members who have more 
> than passing familiarity with the DeLorean. 
> 
> With most cars, modifications either have no impact or even detract 
> from the price for this reason. I hate to say it but you'd be better 
> off returning the car to stock and selling off the modifications 
> (seats, EFI etc) separately to people who already own the cars and 
> understand the value of your engineering work. I see this happen in 
> the BMW circles all the time. 
> 





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