Need a Value for Insurance and Some day Sale

[jumpmaster54]

No offense taken, but your post only throws outs unknown statements. Please explain?

Several thousands were spent on paint, sealings the aluminum for proper painting, replacing any thing needed for paint, correct paint etc.

Many more thousands spent on correct parts from rovers north.

I guess I should have stated on frame restoration, not frame off and not total restoration. Better than some I have seen for sale etc. I was thinking a value of $16-17 compared to the 1967 109 with defender front on ebay stating restoration yet resto-mod. Hope this clarifies that I was not trying to deceive anyone etc. I do know what all went in to this 109 and what amazing shape it was when started.

Stan

[jac04]

Please explain?

First, for insurance value, determine a value that YOU are comfortable with. Forget about what anyone else says and forget about what you see on eBay. If you ask what people think retail value is, it will depend upon who you ask, and how knowledgeable they are about Rovers and vehicles in general (and how much money they have to spend, and how bad they want to purchase the vehicle, and do they like the color, and do they want a 109, etc.).

As for the paint job, I'm sure it looks nice, but unless you remove all the trim, lights, etc. it is impossible to properly paint the vehicle. All the taped edges will be potential starting points for paint failure. Things like this can have a huge impact on retail value.

[jumpmaster54]

OK got it. I plan on keeping it but you never know.. Thanks

Stan

[amcordo]

I searched on your posts to see if I could find any pictures of your vehicle and came up with the pictures from the paint job. No offense meant Stan, but there is a big difference between a "no expense spared" restoration and what was done to your vehicle:

Wow. Such a nice thing to say.

[bmohan55]

Just my .02 to the O.P.....you used the term "investment". Unless you really bought well "usually" the best you would do is to get your money back when it comes time to sell. I feel it's best to look at these trucks as a hobby & learning experiance and enjoy them at that. I'm finding out the hard way the the money you "invest" into it will not necessary be realized at the time of sell...and don't even think about recouping labor!

For insurance purposes I'd attempt to insure it for what you have into it, but that may only work if you have collector car insurance and then you are restricted in it's usage.

In short, insure it for as much as you are comfortable with, enjoy it and when you sell it, it will pass on to the next owner in better shape than what you started with.

[disco2hse]

Just to toss in a different view. I would suggest there is no relationship between what you spent on your vehicle, its retail value, and its insurable value.

However much you have chosen to spend on improving your vehicle is a reflection of the passion you hold for it, and the depth of your pockets allow you to express your passion in a manner you deem to be fitting. However, in the retail market, the buyer will pay you the current worth of the vehicle, not what you spent on it. Except in rare occasions, the money spent on the full restoration/improvement of a motor vehicle will not be returned at sale time.

So, the general rule is, if it is really important to have a figure you consider to be accurate, get a qualified valuer to assess its worth. Realise that is a snapshot of the vehicle's worth and the figure will change over time. Otherwise, do as the rest of us and scan through the local for sale columns and build a general picture of what you think it is worth comparing those factors that are important, your vehicle's strengths and weaknesses against those you find in others.

So far as insurance is concerned. The advice to get an agreed value policy is good advice. They tend to be more expensive, but in the event that you need to make the claim, you will be happier with type of policy than if you have an incident and have to start haggling with the insurer over how much your vehicle is worth. Chances are, they probably won't even have it on their database to make the call and will try to cut their loss as much as they can.

Usually, in that type of agreed policy, you insure for more than the retail value. Include in it your recovery gear, tools, etc.

[jumpmaster54]

I searched and searched to find an original NADA 109 that was in great shape from the start. I waited until I found one with the original frame (no rust) and the original drive train.

I settled on a 1967 6 cylinder 109 Station Wagon 5 door and if the Register is correct, most 1967 NADA were modified with new and non-rover motors. Mine is also a LOW Serial #21. All I did is use original or Rovers North parts to replace seats, seatbelts etc. IN my opinion it seems rare as only 800 plus a few were made.

I do understand most vehicles are only worth what people will pay and I do only hope to enjoy my rover and at best just recoup my total spent. Not trying to make money off my rover.

Thanks to most for being professional and respectful. I choose to always be the same.

Stan