[xj-s] RE: Classics

XJ-S
1

The appraisal was done by a local well known and recognized (by our
insurance co.'s) appraisal service.
As I said, there is NO WAY I could hope to sell the vehicle for this. And,
even if there were a complete loss, I’d most certainly have a fight on my
hands… But, having a few sheets of paper with the “Stamp of Approval” on
em, will sure make things a lot easier…> * ----------

  • From: Gregory Wells[SMTP:cvwest@worldnet.att.net]
  • Sent: Tuesday, September 07, 1999 8:45 AM
  • To: Mackie, Tom (Fire Hall 1)
  • Subject: Re: Classics
  • Tom,
  • The problem is, who did the appraisal? Remember one sale does not a
    market
  • value establish!
  • We had a long thread about this sort of thing over on the British
    list. If
  • the appraisal is not done by an individual with the proper
    credentials, it
  • isn’t worth a whole lot more than the paper its printed on.
  • Look for appraisers who are members of one of the industry
    organizations,
  • such as the American Society of Appraisers, and who are prepared to
  • demonstrate their methodology for establishing value. Certification
    as an
  • expert witness for the Federal court system is a major plus.
  • I would be very curious to know the bona fides of the appraiser who
    rated
  • your 1976 XJ-S for $21,500 in 1994. If you suffered a total loss of
    this
  • vehicle, and this appraiser was placed on the stand to substantiate
    his
  • opinion of value, the insurance company’s attorneys would make his
    life
  • very difficult, I’d bet.
  • Best regards,
  • Gregory Wells
  • Coventry West, Inc.

  • From: Mackie, Tom (Fire Hall 1) <@Mackie_Tom_Fire_Hall>

  • To: ‘xj-s@jag-lovers.org’

  • Cc: ‘cvwest@worldnet.att.net’

  • Subject: Classics

  • Date: Saturday, September 04, 1999 8:49 PM

  • Just a thought… The one thing the PO of my 76 XJ-S did was
    have it

  • professionally appraised. The value on the appraisal done in 1994
    set

  • the

  • value at $21,500.00 There is NO WAY I could currently hope to
    sell the

  • vehicle for anything close to that value. But, should an accident
    or

  • other

  • mishap occur, I should have a good start on getting decent
    compensation.

  • Also, it seems to me that as long as magazines keep telling
    people

  • these cars can be had for “Cheap”, it forces or holds the price
    down.

  • Let’s

  • face it, if we could create a world wide conspiracy to sell our
    cars for

  • no

  • less that twice what we would currently expect to be able to sell
    them

  • for…

  • Sales would most certainly drop for a period, but eventually, they
    start

  • to

  • move at this new higher price. That new higher price eventually
    gets

  • accepted as the norm and things continue on… In fact, I have
    seen many

  • times in the past that the mear rumour of rising prices is enough
    to

  • cause

  • it to become reality as people react to it. Some simply
    purchasing one

  • in

  • the belief they can make a quick buck. One example of this has
    occured

  • right in my home city during the last month. I saw an add for an
    84 XJ-S

  • Convertable, $14,000.00 Sold in 1 day. Within one week, the same
    car is

  • again advertised for sale. Now sale price listed as $28,000.00

  • Not bad for a 1 week turn around… but, a perfect example.
    Would

  • have been a great time to be selling as people tend to compare to
    other

  • “Similar” vehicles currently listed…

  • Hmm… Here’s a twisted thought… Anyone wishing to sell
    their car,

  • sould take out 3 or 4 adds, all with different (much higher)
    prices…

  • That

  • should almost guarantee the quick sale of yours… :slight_smile:

    • Subject: Re: [xj-s] Classics
    • I just have to add my views here.
    • Many states have regulations invoking when a car is eligible
      for

  • antique or

    • classic car license plates, usually after 25 years or so.
    • I believe that the term classic is loosely defined in the UK
      in

  • terms of

    • cars, as is vintage, veteran, post-vintage thoroughbred,
      etc. These

  • refer

    • there to year ranges only (someone in the UK please jump in
      here).
    • What we should be using is the term “collectible (or
      collectable).”

  • Thirty

    • years from now will an XJ-S be collectible? I should think
      so. Will

  • they be

    • worth $50,000+ (adjusted for inflation)? Probably not. Why?
      Simple

  • supply

    • and demand - pretty good supply and not a terrific demand.
      Not like

  • the

    • supply and demand ratio for, say, an AC Cobra.
    • All cars experience a depreciation/appreciation curve from
      the time

  • they

    • are new. This usually bottoms out 12-15 years after a car is

  • produced. The

    • truly great cars appreciate up the other side of the curve
      far

  • beyond their

    • original cost (don’t forget to look at this in real money
      adjusting

  • for

    • inflation). As nice as we feel XJ6/3 or XJ-S Jags are, they
      haven’t

  • even

    • gotten close to their original costs.
    • One further point: I can’t think of too many postwar car
      which have
    • appreciated well beyond their original costs that aren’t
      open cars

  • or a

    • high performance models.