Dear "The new Aston Martin" owners,
Y'all better be looking at all of your classic insurance policies right about
now and find out exactly how uninsured you are. As a professional classic car
appraiser, I have watched Big Healey prices rise consistantly with the cost to
completely restore one in, nationally speaking, overpriced Southern California.
Last year I valued an original owner late BJ8 that had been bolt-by-bolt
restored for the original (non-motorhead) lady owner at $63,000 even though she
paid a well-known LA Healey restorer $67,000+ to do the car. In the end, what
it was, was a REAL NICE BRG Healey with black trim and dull silver wire wheels.
I thought that the insurance company was gonna kick that back until those cars
sold at auction in the $80 - 90,000 range, then $63K didn't seem all that out
of line.....
As for how this affects the value of your particular car:
I guess that all of the restoration projects that I inspect, that are billed as
nice and priced at $32,000, will finally be worth the asking prices.
If you are revaluing your Healey, remember to add extra $$$ for flashy colour
and chrome wire wheels as these seem to be very important.
Originality - keep your car as original as possible - it is the next best thing
to flashy in the sales arena........
better both.....
Stop looking at auction prices as any sort of guide - eBay is a better
indicator.
Best way to value a classic sports car; add the cost of the core to the
estimated cost of restoration by a pro. Subtract this from the price of the
nicest one you can find in Hemmings,etc. This will, no doubt, be way less than
zero. And unless you are planning to do much of the work yourself and can
maintain pro quality, you can assume that the negative amount is what it costs
to play with cars ... hey, it cost for golf greens fees and flight lessons as
well, And if your car appreciates rapidly because Mr. Redhat buys one, hey,
sell it off and buy a ........ a .......... a .......... a, wait, I like THIS
car! and that is the point enjoy your Healey, but do make sure that your
values have been updated.
Best
Rick Feibusch
Venice, CA
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