Bad Trend listed in CPI Value Guide

[svt2205]

A while back I posted a comment on this and couldn't find it when I searched. But I just got my latest issue of the CPI Value Guide, and it again shows our 93's going down, significantly in value.

This time it shows a #2 car, in their opinion, the next best thing to new or fully restored as being worth only 13425 and #3 or good car at only 9600.

Last year at this time, their book showed these 2 at 18200 and 13000, respectively.

Am I missing something, our values aren't heading south, are they?


I worry about this only from an insurance perspective, as my cars stated or agreed value (never remember the right name) policy is based loosely on their listings.

 

[Cobra228]

I'm not certain how the values are esbablished with the CPI book but its printed by the same company I get my blackbooks from. If there sources are the same then I'm sure the data is a little small. They only ran a couple of 93's at manheim auctions last year. If memory serves me correctly two of them brought around 20 grand and a few other brought under 10 grand. I've been using ebay as a better judge of the true market for these cars but I'm not sure your insurance company would allow that when determining agreed value.

 

[Speedfreek]

Yes like said above the values of that book are determined by the #'s of vehicles that go thru the auction and actually sell. I'm gonna take one tomorrow. We will see what it does and I will report back.

 

[svt2205]

How did you determine their #'s are only from auctions?

Doubt any insurance company would use Ebay for value. Trouble with ebay is did the car really change hands in the end. So I don't trust it as a guide. But it does seem to show a more reasonable trend then the CPI guide does.

Oh well, my car rarely leaves the garage so I've got minimal risk. But can hear the insurance company at renewal time next year asking for me to accept a reduced stated or agreed value. Screw that....

 

[DAVESVT2000]

Oh well, my car rarely leaves the garage so I've got minimal risk. But can hear the insurance company at renewal time next year asking for me to accept a reduced stated or agreed value. Screw that....

Tell ya what Henry, if you get that frustrated, I'll take your car off your hands for you for CPI value..... :coolman:

 

[Speedfreek]

CPI is owned by blackbook which get there info from actual dealer auctions not Ebay auctions. The info they have is averaged every time a new book is published. If no examples have sold for them to do there average then they have nothing to look at and it drops. I took a 69k mile original 93 vibrant red car today with heads and a cam, very nice car original paint and interior in excellent shape but would be considered a #3 car or driver. it brought $14300 plus a $195 sale fee which puts them at almost $14500, and this was at a private dealer auction no individuals.

 

[Cobra228]

Speedfreak, was that Statesville? I'm sure I'll hear about your car from some of the carmax guys. I heard they ran a mint 84 SVO a few weeks ago but I dont think it sold.

 

[Speedfreek]

Yes it was statesville. The SVO I don't know who told you it was mint but my definition of mint must be a little different. It was descent but not mint. if it was mint my Cobra was showroom new. I'm gonna take a Yellow limited edition 93 with 18k miles next week and see what it does.

 

[dragrazor]

Do you guys think that the 93 cobras would be worth more if it were all original or modded? If it would bring more money modded, would it be safe to say that it would be because of the amount of money that was put into the car? Would an original cobra be worth more 10-15 years from now if it were left original versus modded?

 

[jspalmer01]

IMO......stock, low miles, and unmolested (original paint, never wrecked) worth the most. Lightly modded, lower miles, unmolested (original paint, never wrecked) with all the original parts with car next tier in value. Value declines from there based upon condition, mileage, extent of mods, etc. etc.

 

[svtdriven]

hehe, then according to that, mine, with 112k miles, been repainted twice(but still with all vin stickers), missing some original parts, and some permanent mods like welded on subframe connectors, will never really be worth more than 7000-9000. not for the next 10 years anyway.

 

[racerbox77]

I was worried about the value of our cars soley for insurance reasons. KBB says like $4700. Thats what Proggressive goes by. So I was paying an arm and a leg for an agreed value of $20000. Then I started shopping and found " I saved money on my car insurance!" LOl! I switched to Motorist and they are saving me about $75 a month, and the car is insured for $20000. No book value matters.

 

[svt2205]

How did they agree to 20K? Plus, saving 75 a month, how much are you paying? I'm only giving away about 350 a year.

 

[racerbox77]

How did they agree to 20K? Plus, saving 75 a month, how much are you paying? I'm only giving away about 350 a year.

They are charging me $450 a year for ful coverage with 250 deduc. and 50/100/50 with $20k agreed value because my car is in their book of collectables. As far as saving $75 a month thats total with all my cars.;-)

 

[mofugr]

I have Grundy Worldwide on my 93 Cobra, $21,000 stated and agreed value and pay about $325.00 per year.