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Thread: Z8 Valuation Disconnect ($60K v. $150K)

  1. #1
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    Z8 Valuation Disconnect ($60K v. $150K)

    Just for interest I looked up the 2001 Z8 value in the Kelly Bluebook. They reported a value of around $60K. Then I went to the Dupont Registry and did the same thing and found Z8's at around $120K - $158K. That is some big difference. I have Agreed Value insurance on my Z8. Warning to all that do not have such insurance. If the insurance company declares a Z8 totalled and goes by the Bluebook, good luck using that money to purchase another Z8.

    Jay in Southeast Florida
    Z8 #436
    License Plate: MYBMW Z8
    Eisenmann Mufflers
    Dinan Performance Software

  2. #2
    Z8Mania
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    My insurance company wanted to insure me for $83k. I said but I want to insure for enough that I could go out and get a pristine example. So Im getting it raised to something in the 130 range.

  3. #3
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    I have agreed value insurance of $145,000 on mine for that very reason. I am assuming that I might have to travel across the country to check out a replacement vehicle then have it shipped across the country. So I decided to insure the car for the agreed value of $145K.

    Jay in Southeast Florida
    Z8 #436
    License Plate: MYBMW Z8
    Eisenmann Mufflers
    Dinan Performance Software

  4. #4
    Z8Mania
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    Sounds like a good number to me.

  5. #5

    Taking the bull by the horns...

    So after a very nice chat with Aaron at Hoovers who own and publish KBB he has promised to investigate this issue, and either have the Z8 removed from the KBB listings as it is so obviously incorrectly listed, or have have the valuations adjusted.

    Being able to show him his own page here where there isn't a Z8 listed under 129,000 helped.
    Andrew Macpherson

    Expert Z8 Inspections, with full support for both Z8 sale and purchases.

  6. #6
    Z8 Ate My Homework! Norcal's Avatar
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    Is it possible they use some automated/predetermined depreciation percentage? It would be labor intensive to follow every car listed, but, that is what they should do.

  7. #7
    Quote Originally Posted by macfly View Post
    So after a very nice chat with Aaron at Hoovers who own and publish KBB he has promised to investigate this issue, and either have the Z8 removed from the KBB listings as it is so obviously incorrectly listed, or have have the valuations adjusted.

    Being able to show him his own page here where there isn't a Z8 listed under 129,000 helped.
    Going by that, it would appear that prices/values had not only firmed up, but are actually going up. I hope they all sell for the asking price.

    A big thanks Andrew for getting on the horn and doing something. I would have just said oh well KBB is wrong and moved on.
    C.A. Cardenas (AKA Dan)
    2003 (last one?) Z8 - Hellrot / Sport Rot
    Original Owner - Munich Tourist Delivery
    -- Others --
    1988 M6 - 32K mi. - Original Owner
    1989 DINAN 750iL - 73K mi. - Original Owner
    1998 M3 - 63K mi. - Original Owner
    2015 X5 (F15) Diesel - Daily Driver

  8. #8
    Administrator thegunguy's Avatar
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    Well done, Andrew. Who are the other common value references? NADA?
    thegunguy

  9. #9
    Z8 Madness
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    Thanks Andrew.

    I think the history of cars sold on this forum as well as various discussions and facts archived here will be infinitely valuable to us if the unfortunate thing happens. I refuse to take out an agreed-to-value policy as I'm of the opinion that if necessary one should be able to use available data to establish the "true" market value.

    I did fight that battle with Mercury a few years back when my wife totaled her car and reached a what I considered very reasonable outcome -- despite a few rounds of negotiations.
    62050 - Z8

  10. #10
    Administrator thegunguy's Avatar
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    I'm with you, the "book" value needs to be addressed to match the actual market. Otherwise, what's the point of using the reference. That's why I was pleased to see that Andrew took a step to help with this.

    I'm also with you on not needing special insurance to cover the car. However with the cost of search/transportation, mods, etc. to replace my car, even with a corrected book value, I'd be down quite a bit if my car was ever destroyed. Sadly, the goal of the insurer is to collect as much as possible and pay out as little as possible, naturally putting us at odds. It seems that an agreed value policy merely avoids the battle/negotiation. I don't carry it at this point either, and I too am fundamentally against it. That being said, I really need to better investigate all the options and how my current insurer would handle the matter. I've invested a lot in my car in both time and money, and I'd hate to retrace my steps one day.
    thegunguy

  11. #11
    Z8 Madness
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    You make some great points. Ultimately, an agreed value policy with no gimmicks and a reasonable (say 30% more than a standard policy) will be worth it. I just haven't had the time to research it.

    One other concern is that with an agreed value policy, there might be an incentive on the part of the insurer to repair despite extensive damage.
    62050 - Z8

  12. #12
    Z8Mania
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    The problem with using "market" numbers is how many Z8s trade in a year? What is the market? Its hard to have a truly efficient market like with say a Toyota. This is a special car and each one is almost a market onto itself- not truly but you get the idea. For cars like this I like agreed value- sure it costs a bit more but it gives peace of mind, its worth it to me.