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e-bay/ and value of Spitfires

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rich wino Richard Ruggiero
wallingford, CT, USA   USA
Is it just me or do the asking prices on e-bay for Triumphs and MGs seem a bit high for this time of year. I know some are from dealers and some of the cars look nice but I think the prices would be high in the high of the season. I am the original owner of a 79 spit. It now has 9000 miles no dents original paint like new car. I have it insured with Hagerty for 10,000 $ and was wondering if I should increase that.

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MHKflyer52 Avatar
MHKflyer52 Martin Keller
Ventura, CA, USA   USA
Hello Richard,

Two questions I ask my self when that issue comes up for me.
1. Can the vehicle be replaced with like kind for the insured amount?
2. Is the cost of the policy reasonable and will the insurance company pay full value for a replacement of like kind.

One thing to consider, people are becoming aware of how easy and fun these little cars we care for are to own and drive and if something dose happen and a loss is incurred it is not the national debt or the gdp of some small countries like some of the sports cars that are out there.
Hope this helps.
cool smiley



Martin Keller
Ventura, CA.
1971 Triumph GT6 (A work always in progress.)

tim65mgb Avatar
tim65mgb Silver Member Tim Guntly
Cherry Valley, IL, USA   USA
I had a 1980 mgb with 9800 miles on it. I did a chrome bumper conversion. I couldn't get more that $6500 for it. I think the ebay prices are at times are bogus and should not be an indicator of value.

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spitfire50 Avatar
spitfire50 Paul Mugford
Rochester, N.H., USA   USA
In reply to # 1593829 by tim65mgb I had a 1980 mgb with 9800 miles on it. I did a chrome bumper conversion. I couldn't get more that $6500 for it. I think the ebay prices are at times are bogus and should not be an indicator of value.

^ This ^
The only eBay prices that have any meaning are those for completed sales. Even some of those are questionable as an actual transfer of ownership may not really occur, only a paper sale to show a dollar amount for future purposes.
All the best,
Paul

Mrace777 Steve N
Bellbrook, OH, USA   USA
People can ask for what they ever they like. The key is to search on sales complete, and even then you dont know for sure if the sale went through.

rich wino Richard Ruggiero
wallingford, CT, USA   USA
Maybe in the next couple of days I will get together some photos of my car and post them with some info. I know the car to me has the sentimental value witch never comes into play because I got the car brand new. But I am thinking that I would like to get more than the 10,000 if it is totaled.

Wolfcreek Steve Steve P
Central, WI, USA   USA
1937 Dodge Magnum "The Dodge"
1947 Unknown Unknown "My Autocar"
1980 Triumph Spitfire 1500 "Vicki's Little Red Car"
Buy "agreed upon value" insurance in the amount you think your vehicle is worth! Never believe the prices on Ebay. Half the stuff there is only there to prove to someones wife that he can't get what it's worth, so he can keep it.

TheZster Avatar
TheZster Steven Z
SAINT LOUIS, MO, USA   USA
1978 Triumph 1500 "BLK-BRY"
In reply to # 1593863 by rich wino Maybe in the next couple of days I will get together some photos of my car and post them with some info. I know the car to me has the sentimental value witch never comes into play because I got the car brand new. But I am thinking that I would like to get more than the 10,000 if it is totaled.

Good luck with that!!! My insurance company (USAA - one of the best in the world)…. will only cover blue book - unless I take out a special (sub- policy) that requires evaluations, estimates, etc., as a classic..... Really and truly - for me - with maybe 10K invested and a $5K replacement policy.... it's not worth the hassle and "to be determined" issues - should it get totaled....

I did review my policy after reading your post... and couldn't find the "sentimental value" clause anywhere.... (Take that in the spirit intended... LOL)….

Personally - I would review - line by line - your policy with Hagerty..... If you drive off a bridge - are they going to cut you a check for $10K?? Often times the fine print is a touch different than the title on the policy......

Z

Doug in Vegas Avatar
Doug in Vegas Douglas D
Las Vegas, NV, USA   USA
In reply to # 1593786 by rich wino I think the prices would be high in the high of the season.

Dreaming of summer in the middle of winter goes back to the cave man.

DerbyRam54 Neville Wardle
Branford, CT, USA   USA
If you want to see some amazing asking prices you can do worse than look at Hemmings. In the realm of Triumph there has been an advert (online only, not in print version) for a Stag with an asking price of $67,500. I don't think any Stag on the planet is worth that, and neither does anybody else because that ad has been running for well over a year if not two.

I love to leaf through the print version to laugh at the prices of marque after marque before concluding that my rubber bumper Spitfire and rubber bumper MGB are worth very little to the rest of the world but are priceless in my eyes because of all the fun I've had over the past 30 odd years (and some years were odder than others).

Steven made a good point about what a Hagerty policy (or, presumably, policies issued by similar companies) would exclude. Before my eyes glazed over at all the not heretofores and not withstandings I was able to glean that you are expected to have a vehicle that is your primary vehicle and covered by the usual policy and that any kind of competitive usage (at least in CT) is absolutely not covered. I didn't see any exclusions for driving off bridges unless of course you were doing that as part of some competitive event.

They do say that they do not restrict usage to parades or car shows and that they want you to have fun with it. I presume for most of us this would exclude driving to work or to the grocery store, neither of which could remotely be considered fun.

It's also worth noting that the declared value of the car does not increase unless you request an increase. I imagine that a valuation outside the norm for a given vehicle might result in some sort of request for evidence to support the valuation. The Hagerty website has valuation tools but right now they appear to be perplexed by Triumphs since I couldn't get any results from it.

Disclosure: no relationship with Hagery other than customer for longer than I can remember. Oh, they did provide free roadside assistance coverage for the Reliability Run the club organized last September, not that it was needed of course. smileys with beer

Falkon Avatar
Falkon Al Martin
Appleton, WI, USA   USA
Spitfires just aren't worth that much. Worth being defined as what you can ACTUALLY sell it to someone for.

Fishplate Jeff Scarbrough
Athens, GA, USA   USA
In reply to # 1593902 by DerbyRam54
They do say that they do not restrict usage to parades or car shows and that they want you to have fun with it. I presume for most of us this would exclude driving to work or to the grocery store, neither of which could remotely be considered fun.

Every time I drive my Spitfire to the grocery store, I get a big stupid grin on my face. Your smileage may vary.

spitlist Avatar
spitlist Joe Curry
Sahuarita, Sahuarita, AZ, USA   USA
The value of any Spitfire (or any other car for that matter) is in whatever a particular person is willing to pay. Selling one for top dollar will mean finding the right person who is a determined and motivated buyer. My son sold his Mk2 a few years ago after advertising it on EBAY and not getting any bids that met his reserve. He was contacted by said motivated buyer a short time later and agreed upon the price of $12,500.

rich wino Richard Ruggiero
wallingford, CT, USA   USA
Thank you all for your well thought out answers.

clifish Avatar
clifish Cliff Deger
St. James, NY, USA   USA
Agreed value collectors car insurance like American collectors car insurance...tell them what you want to insure it for and they give you a price. I don't think $13K for an original owner spitfire is out of the question for them, they may question it if you say $30 grand but in the teens I don't think it will be a problem.



74 TR6 - Carbs by POOLBOY
81 Corvette

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