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Old 09-08-2014, 07:27 PM   #1
Nabco
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Default Actual Car Value

I started down this line of thinking a few days ago when this thread was started...

http://www.fordbarn.com/forum/showth...ghlight=Afford

...some of the comments indicated even with as little that is left of the car there was still value in it, probably more than the asking price. I know the thinking is probably not logical but thought I would share anyway.

As a new "A" owner I've been spending a great deal of time browsing the catalogs and websites from Snyder's, Gaslight, etc. Looking at the prices for replacement parts, wheels, tires, engines, transmission, fenders, and everything else....just to buy 5 wheels with tires you are approaching $2,500.

So I decided to create a spreadsheet and go through the Synder's catalog starting with the first page of the "A" parts and put together a list of parts that are currently on my car and the associated costs to replace them.

For rebuilt parts that required a trade in to get the lower cost, I went with the lowest possible cost. It did not take very long to get over $15,000, that's where I stopped. Looking ahead in the catalog I saw it would be very easy to far exceed $20,000 in cost.

So right now I have my car insured for $15,000, it's pretty obvious that the costs of the parts far exceed that, has anyone else had these same thoughts.

I know it's not logical to think you could start ripping apart a car and sell the parts, not to mention the fact that it would be sacrilege to do so, I just find it interesting how things sold as a whole are sometimes less expensive then the sum of its parts.

Thanks for indulging me...

Nick
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Old 09-08-2014, 07:39 PM   #2
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Default Re: Actual Car Value

then when your done,, figure in the mechanical labor , paint / material etc...
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Old 09-08-2014, 07:46 PM   #3
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Default Re: Actual Car Value

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then when your done,, figure in the mechanical labor , paint / material etc...
Exactly...it crazy
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Old 09-08-2014, 07:56 PM   #4
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Default Re: Actual Car Value

thats why my tudor is insured for 65 k and thats tight...
you should at the minimum double what your investment is on agreed value
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Old 09-08-2014, 07:56 PM   #5
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Default Re: Actual Car Value

The sum of the parts is almost always greater than the whole.
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Old 09-08-2014, 08:00 PM   #6
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thats why my tudor is insured for 65 k and thats tight...
you should at the minimum double what your investment is on agreed value
So Mitch, are you saying that if agreed value is $15K the insurance companies will allow you to double that...sorry I'm confused (again)
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Old 09-08-2014, 08:02 PM   #7
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Default Re: Actual Car Value

I have been preaching exactly what just found out. Most Model-As on the road a grossly underinsured. Many hobbyists still feels like $100.00 is a large sum of money too.
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Old 09-08-2014, 08:03 PM   #8
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Default Re: Actual Car Value

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So Mitch, are you saying that if agreed value is $15K the insurance companies will allow you to double that...sorry I'm confused (again)
no if agreed value is 15k thats what you get max. now try and rebuild it for that.
what i am saying if you have 15k invested agreed value should be at the min double..
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Old 09-08-2014, 08:04 PM   #9
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Default Re: Actual Car Value

my current lucy restoration i have receipts for 40k not counting my time.... its not insured yet but will be shortly for about 85k
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Old 09-08-2014, 08:08 PM   #10
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Default Re: Actual Car Value

Thanks Mitch, learned something new again on the Barn, I'll be on the phone to State Farm in the morning.

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Old 09-08-2014, 09:15 PM   #11
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Default Re: Actual Car Value

I fully understand insuring for actual replacement cost, what YOU may personally have in a restoration, but what about this scenario.

A guy has a very, very nice '29 Tudor. Agreed value set at $15,000. Now, if the car is totaled and you take the 15 grand, couldn't you go out and buy ANOTHER really nice '28-'29 Tudor already finished for the same maybe even a little bit less money? And maybe you wouldn't want to fully restore the car that got clobbered anyway? Seems like there is no shortage of very nice Tudors in the $12,000 price range.

Just looking at it differently. The insurance game is a game of chance anyway. And was it worth dumping $65,000 plus into a car that's worth maybe $15,000 tops when you're done?? Any accountant/economist would have us locked up for looking at money that way and we're all guilty to some extent.
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Old 09-08-2014, 09:28 PM   #12
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Default Re: Actual Car Value

take that 15k car that you had for lets say 10 years and now add up all your receipts and labor time on all the improvements that were done to it over the course of your ownership to date...
now for an extra approx 150.00 premium you could have had 35k coverage

Last edited by Mitch//pa; 09-08-2014 at 09:33 PM.
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Old 09-08-2014, 10:09 PM   #13
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Default Re: Actual Car Value

This is one of the reasons I tell people. That want one car and that's it. To not restore one. But to go and buy one done. Because very few even the insurance guy. Have no idea what all goes into a car.
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Old 09-08-2014, 10:21 PM   #14
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then there is always the challenge to find a restored car that doesn't need work
restored car mean many different things
like this recent thread
https://fordbarn.com/forum/showthread.php?t=148897
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Old 09-08-2014, 10:41 PM   #15
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Default Re: Actual Car Value

AAA only asked, "How much do you want to insure it for"? IF YOU GOT THE PREMIUM CASH, THEY GOT THE COVERAGE!
As Glen Blue said, "If you're gonna' PLAY, you gotta' PAY"!!----Otherwise, get a "RADIO-FLYER", with a lot of PATINA & GOOD TIRES!
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Old 09-08-2014, 10:58 PM   #16
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Default Re: Actual Car Value

Quote:
Originally Posted by Nabco View Post
I started down this line of thinking a few days ago when this thread was started...

http://www.fordbarn.com/forum/showth...ghlight=Afford

...some of the comments indicated even with as little that is left of the car there was still value in it, probably more than the asking price. I know the thinking is probably not logical but thought I would share anyway.

As a new "A" owner I've been spending a great deal of time browsing the catalogs and websites from Snyder's, Gaslight, etc. Looking at the prices for replacement parts, wheels, tires, engines, transmission, fenders, and everything else....just to buy 5 wheels with tires you are approaching $2,500.

So I decided to create a spreadsheet and go through the Synder's catalog starting with the first page of the "A" parts and put together a list of parts that are currently on my car and the associated costs to replace them.

For rebuilt parts that required a trade in to get the lower cost, I went with the lowest possible cost. It did not take very long to get over $15,000, that's where I stopped. Looking ahead in the catalog I saw it would be very easy to far exceed $20,000 in cost.

So right now I have my car insured for $15,000, it's pretty obvious that the costs of the parts far exceed that, has anyone else had these same thoughts.

I know it's not logical to think you could start ripping apart a car and sell the parts, not to mention the fact that it would be sacrilege to do so, I just find it interesting how things sold as a whole are sometimes less expensive then the sum of its parts.

Thanks for indulging me...

Nick
I don't believe that at all.

I was considering wrecking out my original unrestored phaeton and I added up all the ebay selling prices of each bit and it was way below what the whole car was worth as a whole.
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Old 09-09-2014, 01:10 AM   #17
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Default Re: Actual Car Value

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I don't believe that at all.

I was considering wrecking out my original unrestored phaeton and I added up all the ebay selling prices of each bit and it was way below what the whole car was worth as a whole.
I think the same way. Plus the fact if you part out a car, there will always be a lot of parts left unsold.
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Old 09-09-2014, 03:18 AM   #18
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Default Re: Actual Car Value

Agreed- the parts are not going to bring anywhere close to what one might want for them. Is a perfect front fender worth 1000.?
sure it is-but try and get that for one......................

I agree with Blue-plenty of A's to be had reasonably, so unless you've owned it since you were 12 years old and have your all in it, keep a "fair" amount of insurance on it, but dont go nutz!

Are we talking average A or fine points judging? big difference and two totally different topics............
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Old 09-09-2014, 05:22 AM   #19
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Default Re: Actual Car Value

Quote:
Originally Posted by Mitch//pa View Post
then there is always the challenge to find a restored car that doesn't need work
restored car mean many different things
like this recent thread
https://fordbarn.com/forum/showthread.php?t=148897

Yes, there are different definitions for the term, restored.
Such as the funny, 95 percent restored :-)
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Old 09-09-2014, 07:16 AM   #20
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Default Re: Actual Car Value

My truck was a "basket case" when I got it over 40 years ago. I did everything but rebuild the engine (James Rogers) and spray the final paint (Rich Rodgers). For me it was really a "hobby car" and not an investment. I thoroughly enjoyed the restoration/preservation process (except for maybe the E-brake return springs) and learning about Model As. While I looked for the best price on parts, I soon learned that I would generally pay the going rate for quality with a few "bargains" here and there. I kept track of what I spent and have it insured for a little more than what I have into it overall. My time is not included because I probably would have otherwise spent it fishing, and not making money anyway.

Having said that, when asked, I encourage those interested in getting a Model A to find one that is as complete as you can afford, and start from there (something I've heard on the Barn from some of the more "seasoned" members).

Enjoy
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