38897RE: Re: [classicrv] RE: RE: Re: Advise on buying a Older RV
- Oct 12, 2013If you look at the average condition of a given model year vehicle on the road...when it gets to 21 years old (in my case), surely the average condition is a poor paint job...in which case, one with a good paint job should be worth appreciably more, right? Certainly not worth $3000 more, but surely more valuable. Much like one with a freshly rebuilt transmission compared to one with 200k original miles just waiting to fail. If you're shopping for a house and find two 30-year old homes side by side that are identical, but one has replacement windows a year old...is the one not worth more?I think the average condition argument make sense up to a certain age...but in my mind, there comes a point where specific condition makes a difference. How does one insure a fully-restored classic mustang compared to one that looks like crap because nothing has ever been done to it...?Wesley
From: firstname.lastname@example.org [mailto:email@example.com] On Behalf Of Henry Blair Jr.
Sent: Wednesday, October 09, 2013 9:45 PM
Subject: RE: Re: [classicrv] RE: RE: Re: Advise on buying a Older RV
I am with the insurance company on this one. The premium is actuarially calculated on the condition of cars of this model on the road. If you want to insure for more, companies like Haggerty are glad to do it. It is a hard lesson to learn, but what you spend on a vehicle is one of the least influential factors in determining it's value.
Once, years ago, when Barrett was still alive, I was near the auctioneers at Barrett Jackson when a particularly undesirable car came up. The bidding went far above any reasonable estimated value. The bidders were about 25 to 30 years apart in age. One auctioneer said to another, off mike, "The old guy was introduced to the joys of sex in the back seat of a car like this when it was new, and the young fellow had the same experience when it was a beater. " I know that to be the case of the young bidder. I met him later in a bar. This is a hard component of value to insure.
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