Printable Version of Topic

Click here to view this topic in its original format

914World.com _ 914World Garage _ Six conversion value for insurance?

Posted by: Mark Henry Mar 29 2019, 07:31 PM

Just wondering what value we should be putting on /6 conversions these days? unsure.gif

My teen, if it was still a /4, I wouldn't even consider an offer under $25K Canadian, so about $18-19K USD. Not that I want to sell.

/6 core prices are way way up, and so are running engines, What about a fresh performance build?. I used to tell customers a conversion would run $30K (CAD) with engine. but I seriously doubt I could do that now.

My teen is a '74 (1.8 base) paint is (guessing) a 30 yr/old respray colour change, a 7/10 from chips and scratches only, but perfect OG body, perfect interior, Evil tranny, 5-bolt, fuchs , bilsteins, front suspension, etc
Engine 3.0, 2K miles, twinplug/MSD, webers, custom mahle pistons, web cams, fresh build, alumimum tank, etc

No clue what the replacement value for insurance would be..... confused24.gif
What do you think your /6 conversion is worth?

Posted by: Dion Mar 29 2019, 07:40 PM

Mark I have American Collectors Insurance
I put a value of my “project” at $40K. Sent them pics
of engine, wheels,etc.
They know I’m in restoration mode. All they asked
was pictures when complete to increase it.
I plan on upping that when it’s complete.

Posted by: worn Mar 29 2019, 07:42 PM

QUOTE(Mark Henry @ Mar 29 2019, 05:31 PM) *

Just wondering what value we should be putting on /6 conversions these days? unsure.gif

My teen, if it was still a /4, I wouldn't even consider an offer under $25K Canadian, so about $18-19K USD. Not that I want to sell.

/6 core prices are way way up, and so are running engines, What about a fresh performance build?. I used to tell customers a conversion would run $30K (CAD) with engine. but I seriously doubt I could do that now.

My teen is a '74 (1.8 base) paint is (guessing) a 30 yr/old respray colour change, a 7/10 from chips and scratches only, but perfect OG body, perfect interior, Evil tranny, 5-bolt, fuchs , bilsteins, front suspension, etc
Engine 3.0, 2K miles, twinplug/MSD, webers, custom mahle pistons, web cams, fresh build, alumimum tank, etc

No clue what the replacement value for insurance would be..... confused24.gif
What do you think your /6 conversion is worth?

Wouldn’t sell mine for 40k. Completely rust free after removal of said problems and the motor and the 911S brakes, etc. yours is worth more. Wouldn’t trade for a 911 of same year. Couldn’t have it built for that cost. They say that the value is what someone would pay. But what about what it would take for someone to sell.

Posted by: Mark Henry Mar 29 2019, 07:51 PM

agree.gif

I'm more worried about the other guy, fire, theft, etc.
I have Hagerty, I know it's way undervalued now.
$40K USD would be $53.5K Canadian.

Posted by: mepstein Mar 29 2019, 08:30 PM

When I built custom bikes at the bike shop, I would fill out a build sheet with every single part for the build. I would do the same if the customer's expensive bike was stolen and did one for myself when two of my bikes were taken. Unless you write it down, you will forget half the parts. First write down systems: Engine, trans, brakes, body, etc and then break down each system into smaller parts. You need a replacement value, not how much you paid after deals, swaps and stuff you already had. What will it cost to buy it all at retail or at least market rate. It will be shocking but without the build sheet, the insurance company will just rely on comps and that's hard to do accurately with a custom conversion. If you ever have to go the insurance route, your adjuster will have no clue about a six conversion so a build sheet with pics will help you get what you deserve. It helps if you can get an automotive shop to list all the parts and costs on their letterhead. Receipts are great as well but I don't keep them or have them to begin with.

Posted by: mlindner Mar 30 2019, 05:25 AM

Mark, mine is in the last stage of assembly. Two years ago after having it painted I had it insured for $35,000 agreed value. Same reason, fire, theft.....Not sure what final value we be. Best, MarkAttached Image

Posted by: mepstein Mar 30 2019, 06:31 AM

QUOTE(mlindner @ Mar 30 2019, 07:25 AM) *

Mark, mine is in the last stage of assembly. Two years ago after having it painted I had it insured for $35,000 agreed value. Same reason, fire, theft.....Not sure what final value we be. Best, MarkAttached Image

smilie_pokal.gif
I bet a car like this would cost $75k+ to replace.

Posted by: defianty Mar 30 2019, 07:11 AM

I've currently only got mine insured for 25K UKP (33K USD) at the moment which is the max Hagerty UK would insure a good condition 73 2.0L for. But hope to change that as soon as I get the car back from paint. Ideally I'm looking to double that figure at least.

Posted by: scallyk9 Mar 30 2019, 10:44 AM

My '74 3.2L conversion is insured with Hagerty for $40k USD, increased from $35k in 2017. With swapping in a 916 transaxle (Martin Bott), 911 axles, and Ben's SS heat exchangers and muffler, I'll still be under water in a loss.

Posted by: daytona Mar 30 2019, 02:30 PM

I have my 74 with 3.0L insured with Hagerty for 45K, but if I were to follow mepsteins build sheet suggestion I think I would have to increase the insured value. Better get on it.
Bill.

Posted by: raynekat Mar 30 2019, 03:31 PM

Get a professional appraisal...period.

Someone who is very knowledgeable in Porsches and the current cost of parts. We have a guy like that here in Portland.

Most of you guys will be too low on what you think your car is worth.

Posted by: thelogo Mar 30 2019, 03:48 PM

Conversion 50 k
As those can be replaced
You could build it for 50 right mark ?

Original and lets be honest
99k is a extremely reasonable number
Right ?

Posted by: EdwardBlume Mar 30 2019, 04:14 PM

It’s not how much it’s worth, it’s how much you want back if lost factoring in the odds of loss. The rest is self insured.

Posted by: dr914@autoatlanta.com Mar 30 2019, 04:29 PM

any decent six conversion (genuine five lug conversion, factory 911 engine, correct oil tank and heat exchangers). Nice paint and interior, is worth 50,000 to insure. These days just a great running original 911 engine is worth at least 15,000

Posted by: mepstein Mar 30 2019, 04:30 PM

QUOTE(thelogo @ Mar 30 2019, 05:48 PM) *

Conversion 50 k
As those can be replaced
You could build it for 50 right mark ?

Original and lets be honest
99k is a extremely reasonable number
Right ?


The guy who posted above you is laughing at $50K.

Posted by: worn Mar 30 2019, 04:42 PM

QUOTE(mlindner @ Mar 30 2019, 03:25 AM) *

Mark, mine is in the last stage of assembly. Two years ago after having it painted I had it insured for $35,000 agreed value. Same reason, fire, theft.....Not sure what final value we be. Best, MarkAttached Image

Taking it to Sugar River?

Posted by: Larmo63 Mar 30 2019, 07:13 PM

My '73 2.4S conversion narrow body hot rod is agreed value insured with Hagerty for $35K.

I'll up it to $40K next year, but how would I (or you) react if someone offered me (or you) a full $35-40K cash deal for the car, money on the barrel? Hmmm....

confused24.gif

Posted by: RickS Mar 30 2019, 10:24 PM

Only have mine at 30K agreed value. The conversion and all the upgrades cost that much. Bought it originally for 7K with a 2.0. Time to up it. A database of current sales prices by month (car year, unmolested, modified, 6 Conversion, original 6, sales price) would provide a range of real world values.

Attached Image

Posted by: Mark Henry Mar 31 2019, 07:09 AM

So here's my build sheet for 3.0 1974 914 six conversion, what's the engine and the rest of the drivetrain worth?

The build was well documented here's the thread http://www.914world.com/bbs2/index.php?act=ST&f=2&t=229913&st=0#entry1993833

Engine 3.0L, 70.4mm X 95mm, 10.5: 1 CR
Case, 1979, 3.0, serial # *6399XXX, 930/13, 930.101.104.4R, Supertec head studs
Crank, stock, std/std, polished and magnafluxed, converted to CW distributor drive gear.
Rods, stock, rebuilt big and small end, new bushings, ARP bolts and nuts.
Flywheel stock lightened, with custom 914-901 adapter ring, CSP 228mm bus HD pressure plate.
Full engine balance, pressure plate and adapter ring balanced separately and as a full complete assembly.
Main bearings, new glyco, DFL (Dry Film Lube) coated.
#8 Main bearing, original Porsche, DFL coated.
Rod bearings, new glyco, DFL coated.
Intermediate shaft bearings, new Porsche, DFL coated.
Gasket set, new nose and rear main seal, Supertec sealant kit.
Pump, stock, cooler stock 911 modified to 914/6 spec.
Pistons, Mahle, new, 3.0 custom RSR style, 10.5:1 CR, DFL coated skirts, ceramic coated tops, Goetze rings.
Cylinders, stock 3.0 nickasil, replated Milenium/LN engineering, stock gaskets, .025mm base gasket.
Heads, 3.0 big port, port work, twin plug.
Valves, stock size, exhaust new TRW sodium, intake new AE.
Valve springs, Eibach sport, retainers early stock, keepers stock modified
Ceramic chambers and exhaust ports.
Cams, WEB-CAM, 120/104, set at 5.2mm/.10 lash, 964 cores modified to 901 spec.
Towers, spray bars R&R, tapped and cleaned, rockers resurfaced, RSR rocker shaft seals.
Chains, new IWIS, new cam sprockets, keys and pins.
Tensioners, hydraulic, no fail modification.
906 style cylinder cooling deflectors.
Cooler, stock, 3.0, modified for 914.

Oil tank, DWD, aluminum, with console and neck
Custom breather tank and OE hose.
Oil, Brad Penn break in, Delo 400 15w40

Carburetors, Weber 40mm IDA, rebuilt, new carb kits, 34mm venturies, 135 main jets, F3 emulsion tubes, 180 air correction, 55 idle, Ported stock manifolds, custom phenolic spacers.
K&N filters and rain hats, Weber linkage
Walbro fuel pump and PMO regulator.

Distributor, PMS/Jarvis, CW, MSD internals, Jaguar XJS-12 cap (1989-1996), Jarvis rotor (RSR clone)
Plug wires custom labled twin plug, Patrick Motorsports
Ignition, MSD 6AL, twin MSD high vibration coils, max RPM 6800
Spark plugs, NGK BPR5ES (BPR6ES also available for tuning)

Headers, 914, 1-1/2” MSDS, ceramic coated
Muffler/collector Magnaflow custom stainless steel 2-1/2”
WMS O2 meter, wideband

Transmission
914, 901, side shift rebuilt, using good used parts
Gasket set, Elring
Gearing, custom, A,F,O,X, HB
Stub axles 108mm 911/901

Spare 2nd rebuilt transmission with stock 914/4 gearing

Axles, Sway-Away custom, part# 2420 directional L and R mark to the outside
CV, Lobro, G50 108mm modified to '1969-1974 spec grease seals
Rear hubs and stubs, 5-bolt Porsche,1972 911, new bearings
Bilstien, shocks, 140lb springs

Front struts, 914/6, Bilstien struts, 5-bolt hubs,
Turbo tie rods, ball joints, and bearings all new German.
Free Motion needle bearings for the front, Original Customs

Sway bars, Tarett front and stock rear

Front calipers, Brembo aluminum, Alpha Romeo GTV-6/Milano (1984-86), rebuilt with 911M kits
Front pads, 1971-72 bus modified,
Front rotor stock vented 914/6, drilled
Rear calipers, PMB V-calipers, stock 914/4 modified for vented rotor, stock rear pads.
Rear rotor stock vented 911, diameter reduced 5mm (10mm total)

Fuchs 1975 “020” 5-bolt Porsche refinished
Spare 944 turbo "outlaw" space saver,

Posted by: mepstein Mar 31 2019, 07:34 AM

Most of the big names charge $20-30k for a full engine overhaul - depending on parts used. That’s not including any real high end or exotic builds.

We had a customers car that had a stock 2.7 rebuilt for $22.5 that ran like crap. It still needed the CIS rebuilt. That cost another $1,500 in parts.


Like I said, the only way to get a true replacement cost is to write up every part and put a retail price next to it. Eye watering for sure.

Even your detailed list is incomplete. There are tons of gaskets, grommets, seals and hardware pieces that add up. Just the speedo, clutch, throttle and e- brake cables are ~$250 to replace.

Posted by: thelogo Mar 31 2019, 07:35 AM

QUOTE(mepstein @ Mar 30 2019, 03:30 PM) *

QUOTE(thelogo @ Mar 30 2019, 05:48 PM) *

Conversion 50 k
As those can be replaced
You could build it for 50 right mark ?

Original and lets be honest
99k is a extremely reasonable number
Right ?


The guy who posted above you is laughing at $50K.








You can call me crazy and those of you who know me
Know im fit for a straight jacket
But id drive my car with no insurance if i could .

The whole what if something happened is a ridiculous notion imho

Thats like someone saying boxing is dangerous.


When ever you climb in a ring, a old car , a ww1 fighter plane .

You acknowledge the risk , that is the thrill for some of us .
When i wash, walk ,train and socialize aggressive dogs.
I acknowledged that if i make a mistake that i could be bitten.

As moe green would say
" this is the business we've chosen"

Same as basketball. When i play hoops for 20 years
Im gonna expect some broken fingers, nose and sprained ankles.but the enjoyment i get is always more then the pain




When my old boss used to hire unqualified employees and something would happen .he would say o well thats what insurance is for . ( i was not a fan ) needless to say
That insurance was there to cover for people that cut corners .

Drive and enjoy your cars guys .

Something is not bueatiful because it lasts

Posted by: Mark Henry Mar 31 2019, 08:00 AM

QUOTE(mepstein @ Mar 31 2019, 09:34 AM) *


Like I said, the only way to get a true replacement cost is to write up every part and put a retail price next to it. Eye watering for sure.




That's another issue, what it cost me several years ago (2012-ish) or today?
Also when I bought everything the CAD and USD dollar was at par, today it's only .70 to the USD. And almost everything on my list has gone way up in price.

Core 3.0 $2K
Mahle 3.0 piston's were $1200 NIB and so was the plating, so $2400. Pistons believed to be from a race team for a backup engine and never used, took a chance and won. They look like RSR but are made for a stock head chamber, real RSR heads had smaller CC chambers, thus different CR pistons, logic on the guess being they were made for a RSR backup with stock heads.
I was offered $5K for the P&C kit on the bird when I showed off my goodies 5-6 years ago.

IPB Image

Posted by: mepstein Mar 31 2019, 09:08 AM

QUOTE(Mark Henry @ Mar 31 2019, 10:00 AM) *

QUOTE(mepstein @ Mar 31 2019, 09:34 AM) *


Like I said, the only way to get a true replacement cost is to write up every part and put a retail price next to it. Eye watering for sure.




That's another issue, what it cost me several years ago (2012-ish) or today?
Also when I bought everything the CAD and USD dollar was at par, today it's only .70 to the USD. And almost everything on my list has gone way up in price.

Core 3.0 $2K
Mahle 3.0 piston's were $1200 NIB and so was the plating, so $2400. Pistons believed to be from a race team for a backup engine and never used, took a chance and won. They look like RSR but are made for a stock head chamber, real RSR heads had smaller CC chambers, thus different CR pistons, logic on the guess being they were made for a RSR backup with stock heads.
I was offered $5K for the P&C kit on the bird when I showed off my goodies 5-6 years ago.

IPB Image

Today.
I believe a 917 was $35k from the factory in ‘69. Are you going to insure it for 35k or 4 mill.

Posted by: ConeDodger Mar 31 2019, 09:32 AM

I think $50K is the floor. The ceiling is where the discussion will vary as to which 6 conversion...

Posted by: DickSteinkamp Mar 31 2019, 10:05 AM

QUOTE(EdwardBlume @ Mar 30 2019, 03:14 PM) *

It’s not how much it’s worth, it’s how much you want back if lost factoring in the odds of loss. The rest is self insured.


X2...Most collector car insurers will write "agreed value" insurance for the amount you want to insure the car for (within reason). There is a trade off between potential loss and the premium they will charge depending on the amount of that loss. They know the numbers pretty well dry.gif

If you want a higher "agreed value" the premium will go up accordingly. You can generally determine what "agreed value" you want based on what you figure you have into the car and what your budget is for insurance. You may have to self insure a portion if there is a disconnect between the two.

Posted by: wobbletop Mar 31 2019, 10:41 AM

I put mine at $65K canadian. Better safe than sorry.

Posted by: Mark Henry Mar 31 2019, 11:28 AM

QUOTE(mepstein @ Mar 31 2019, 11:08 AM) *

I believe a 917 was $35k from the factory in ‘69. Are you going to insure it for 35k or 4 mill.

Reasonable and realistic, the price I'd need to buy a similar replacement. I don't want it over or under insured.

QUOTE(ConeDodger @ Mar 31 2019, 11:32 AM) *

I think $50K is the floor. The ceiling is where the discussion will vary as to which 6 conversion...

With Canadian funny money that would be add 30%, so $65K CAD.
wobbletop's 914 conversion is a stock 3.0 engine, I think webers is the only mod and my car is in better overall shape than his.

QUOTE(wobbletop @ Mar 31 2019, 12:41 PM) *

I put mine at $65K canadian. Better safe than sorry.

Who with? Hagerty?
Cripes by that metric I'm way under insured. blink.gif

Posted by: mepstein Mar 31 2019, 11:40 AM

QUOTE(Mark Henry @ Mar 31 2019, 01:28 PM) *

QUOTE(mepstein @ Mar 31 2019, 11:08 AM) *

I believe a 917 was $35k from the factory in ‘69. Are you going to insure it for 35k or 4 mill.

Reasonable and realistic, the price I'd need to buy a similar replacement. I don't want it over or under insured.

QUOTE(ConeDodger @ Mar 31 2019, 11:32 AM) *

I think $50K is the floor. The ceiling is where the discussion will vary as to which 6 conversion...

With Canadian funny money that would be add 30%

QUOTE(wobbletop @ Mar 31 2019, 12:41 PM) *

I put mine at $65K canadian. Better safe than sorry.

Who with? Hagerty?
Cripes by that metric I'm way under insured. blink.gif

Yes, it sounds like you have a $30k engine +\-, let alone all the rest of the parts. A big brake 5 lug conversion can be $5-10k. It adds up fast and theft, collision or natural disaster can total it in a flash. I saw a trash truck back into the side of a a Prius at 10mph. The car was demolished. The truck driver just never saw the car. He was ready to drive away until someone stopped him.

Best thing you can do is have a talk with your insurance person and work out the details.

Posted by: Mark Henry Mar 31 2019, 11:50 AM

The other issue if the wife finds out what it's worth.... unsure.gif

Posted by: Coondog Mar 31 2019, 12:35 PM

Currently have mine at 50k, and will be raising it to 75k when I get it back from PMS.

Posted by: wobbletop Mar 31 2019, 01:17 PM

QUOTE(Mark Henry @ Mar 31 2019, 01:28 PM) *


Who with? Hagerty?
Cripes by that metric I'm way under insured. blink.gif


Correct. The last time I asked here, the consensus was around $50K US.

Posted by: horizontally-opposed Mar 31 2019, 10:43 PM

QUOTE(Mark Henry @ Mar 31 2019, 09:50 AM) *

The other issue if the wife finds out what it's worth.... unsure.gif


Lol.

Yep... agree.gif

Posted by: horizontally-opposed Mar 31 2019, 10:47 PM

QUOTE(wobbletop @ Mar 31 2019, 11:17 AM) *

Correct. The last time I asked here, the consensus was around $50K US.


The six conversion that opened my eyes to potential values was the flared white car that sold on BaT for $57k~. Yes, it was presented well and built out to broad tastes (well, as broad as it gets with 914s), but the engine pretty mild iirc.

QUOTE(Coondog @ Mar 31 2019, 10:35 AM) *

Currently have mine at 50k, and will be raising it to 75k when I get it back from PMS.


Hmm. Was thinking $35-50k is sort of the catchall for a nice six conversion, but what is the right number? What would it cost to replace? is probably the right question—and not would it cost to replace if you want to spend years and years on a project again.




Posted by: jagalyn Apr 1 2019, 01:34 AM

QUOTE(Mark Henry @ Mar 31 2019, 09:50 AM) *

The other issue if the wife finds out what it's worth.... unsure.gif


That's funny... so true.

Posted by: jagalyn Apr 1 2019, 07:36 AM

They say 'buy the best one you can afford'. The reason is because it cost less than buying a base car and restoring or converting it. A completed car is seldom worth the cost of it's parts once labor is factored in... especially if it's highly modified as it narrows the potential buyer pool.

I remember saying 'I wouldn't sell a car for less than $25,000' when I had no intention of selling it, but later when I decided to sell it, I had to accept what the 'market' would bear.

Converted sixes on Bat have been going for the low 20's without steel flares and as high as $67,500... but that is really the exception.

The market will determine what a car is worth when it is sold, but we all get to determine what it is worth while we own it and those two things can be quite different.

How do you place a value on blood, sweat and tears... especially when it's your own.



Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image


Posted by: mepstein Apr 1 2019, 07:38 AM

Never sell.

Posted by: jagalyn Apr 1 2019, 07:42 AM

QUOTE(mepstein @ Apr 1 2019, 05:38 AM) *

Never sell.


Yep... should have told me that 25 years and ten 914's ago.

Posted by: MoveQik Apr 1 2019, 09:54 AM

I have an agreed upon value with Hagerty of $55k. I made a full list of parts required specifically to rebuild my car as it sits...everything from oil tank, suspension, motor, body work, Fuchs etc....if you use retail prices for everything(I sent them links for the big ticket items), you get a big number quickly. Add in a reasonable amount of labor at a reputable shop and well....after awhile its gets depressing, LOL! Any who, Hagerty didn't argue at all. In the end, $55k still wouldn't be enough to build my car with today's prices on everything...

Posted by: horizontally-opposed Apr 1 2019, 10:16 AM

QUOTE(jagalyn @ Apr 1 2019, 05:36 AM) *

They say 'buy the best one you can afford'. The reason is because it cost less than buying a base car and restoring or converting it. A completed car is seldom worth the cost of it's parts once labor is factored in... especially if it's highly modified as it narrows the potential buyer pool.

I remember saying 'I wouldn't sell a car for less than $25,000' when I had no intention of selling it, but later when I decided to sell it, I had to accept what the 'market' would bear.

Converted sixes on Bat have been going for the low 20's without steel flares and as high as $67,500... but that is really the exception.

The market will determine what a car is worth when it is sold, but we all get to determine what it is worth while we own it and those two things can be quite different.

How do you place a value on blood, sweat and tears... especially when it's your own.



Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image

Attached Image


^ Good points.

Silver car @ $67k was a real six, iirc? I remember thinking it took a hit for being a 914-6 with bodywork that won't appeal to everyone, particularly as a rare 1972 car, rather than getting a premium as a four converted to a six?

If so, the outlier was the $52k car, which ended up higher with the fees included. Flares do seem to add value in the BaT arena. Wonder if we'll see that trend continue, increase, or decrease as the 914 continues to grow in popularity and recognition. Hard to argue with the looks of the GT flares, but I do like the tidy original fenders, too.

Posted by: mb911 Apr 1 2019, 10:19 AM

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.

Posted by: mepstein Apr 1 2019, 11:02 AM

QUOTE(mb911 @ Apr 1 2019, 12:19 PM) *

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.


Don't mix up replacement value with your cost to build. You might have been able to build your engine for $10K but if you try to buy the same from Henry, you pay what, $25K. You would be shooting yourself in the foot if you give the insurance companies the cheapest number possible. If you have a loss, they might come down from retail but it's sure better than coming down from wholesale.

My attorney always says the person with the most documentation wins. If you present documentation for what the car actually cost the average person, not the industry insider, (honestly of course) there is a better chance of actually receiving that money than hoping they find an acceptable value from their resources. Do you think the Early S 911 guys are using what they paid for the car $50K or what it would cost to replace - $200K.

If you suffer a loss and you feel the insurance company is paying you too much, you can always accept less laugh.gif

Posted by: Mark Henry Apr 1 2019, 08:51 PM

QUOTE(mepstein @ Apr 1 2019, 01:02 PM) *

QUOTE(mb911 @ Apr 1 2019, 12:19 PM) *

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.


Don't mix up replacement value with your cost to build. You might have been able to build your engine for $10K but if you try to buy the same from Henry, you pay what, $25K. You would be shooting yourself in the foot if you give the insurance companies the cheapest number possible. If you have a loss, they might come down from retail but it's sure better than coming down from wholesale.




agree.gif

My engine did cost me about $10K, but there was a lot of wheeling & dealing over 3-4 years to do it, plus all the labour, plus the Canadian dollar was at par at the time. For a customer who wants a done project in a couple months, same engine, $25K USD easy. And that's just the engine.

I want a replacement value that would get me a comparable 914/6 conversion.

engine $25K
my car $18K
suspension, brakes, bilstein struts, fuchs, etc., new tranny, /6 tank, etc... it's a freaking big list.
$12K?

There's $55k USD or for me it's$72K CAD, and not many nice /6 conversions come up for sale in these parts.

Posted by: mepstein Apr 1 2019, 09:01 PM

QUOTE(Mark Henry @ Apr 1 2019, 10:51 PM) *

QUOTE(mepstein @ Apr 1 2019, 01:02 PM) *

QUOTE(mb911 @ Apr 1 2019, 12:19 PM) *

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.


Don't mix up replacement value with your cost to build. You might have been able to build your engine for $10K but if you try to buy the same from Henry, you pay what, $25K. You would be shooting yourself in the foot if you give the insurance companies the cheapest number possible. If you have a loss, they might come down from retail but it's sure better than coming down from wholesale.




agree.gif

My engine did cost me about $10K, but there was a lot of wheeling & dealing over 3-4 years to do it, plus all the labour, plus the Canadian dollar was at par at the time. For a customer who wants a done project in a couple months, same engine, $25K USD easy. And that's just the engine.

I want a replacement value that would get me a comparable 914/6 conversion.

engine $25K
my car $18K
suspension, brakes, bilstein struts, fuchs, etc., new tranny, /6 tank, etc... it's a freaking big list.
$12K?

There's $55k USD or for me it's$72K CAD, and not many nice /6 conversions come up for sale in these parts.

Our shop is building at least a dozen $150-200K + project cars. At least 2 have $90K engines. If we went by book value, they'd be $40K each.

Posted by: Mark Henry Apr 1 2019, 09:06 PM

QUOTE(mepstein @ Apr 1 2019, 11:01 PM) *

QUOTE(Mark Henry @ Apr 1 2019, 10:51 PM) *

QUOTE(mepstein @ Apr 1 2019, 01:02 PM) *

QUOTE(mb911 @ Apr 1 2019, 12:19 PM) *

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.


Don't mix up replacement value with your cost to build. You might have been able to build your engine for $10K but if you try to buy the same from Henry, you pay what, $25K. You would be shooting yourself in the foot if you give the insurance companies the cheapest number possible. If you have a loss, they might come down from retail but it's sure better than coming down from wholesale.




agree.gif

My engine did cost me about $10K, but there was a lot of wheeling & dealing over 3-4 years to do it, plus all the labour, plus the Canadian dollar was at par at the time. For a customer who wants a done project in a couple months, same engine, $25K USD easy. And that's just the engine.

I want a replacement value that would get me a comparable 914/6 conversion.

engine $25K
my car $18K
suspension, brakes, bilstein struts, fuchs, etc., new tranny, /6 tank, etc... it's a freaking big list.
$12K?

There's $55k USD or for me it's$72K CAD, and not many nice /6 conversions come up for sale in these parts.

Our shop is building at least a dozen $150-200K + project cars. At least 2 have $90K engines. If we went by book value, they'd be $40K each.

So are you saying I'm low?
I think I am but I want a realistic replacement value.

Posted by: mepstein Apr 1 2019, 09:27 PM

QUOTE(Mark Henry @ Apr 1 2019, 11:06 PM) *

QUOTE(mepstein @ Apr 1 2019, 11:01 PM) *

QUOTE(Mark Henry @ Apr 1 2019, 10:51 PM) *

QUOTE(mepstein @ Apr 1 2019, 01:02 PM) *

QUOTE(mb911 @ Apr 1 2019, 12:19 PM) *

So I wonder what I should insure my project for? If complete cars are selling for 50k plus I probably have 25-30k project car? Sum of parts of course.


Don't mix up replacement value with your cost to build. You might have been able to build your engine for $10K but if you try to buy the same from Henry, you pay what, $25K. You would be shooting yourself in the foot if you give the insurance companies the cheapest number possible. If you have a loss, they might come down from retail but it's sure better than coming down from wholesale.




agree.gif

My engine did cost me about $10K, but there was a lot of wheeling & dealing over 3-4 years to do it, plus all the labour, plus the Canadian dollar was at par at the time. For a customer who wants a done project in a couple months, same engine, $25K USD easy. And that's just the engine.

I want a replacement value that would get me a comparable 914/6 conversion.

engine $25K
my car $18K
suspension, brakes, bilstein struts, fuchs, etc., new tranny, /6 tank, etc... it's a freaking big list.
$12K?

There's $55k USD or for me it's$72K CAD, and not many nice /6 conversions come up for sale in these parts.

Our shop is building at least a dozen $150-200K + project cars. At least 2 have $90K engines. If we went by book value, they'd be $40K each.

So are you saying I'm low?
I think I am but I want a realistic replacement value.

Those are 911's. I think you have to take your time and price it out. You don't have to insure for full retail but it's good to know where you stand.

Ex - rennshifter, jwest linkage, custom knob, custom shift rod. - $1K
oil system - lines, cooler, bypass plate, thermostat, oil tank, console, filler, hardline,
dipstick, $2K easy
SS heat exchangers, SS exhaust, hanger, cable, flapper boxes, hardware, gaskets,
hoses, etc, etc, $3-4K
rebuilt trans, clutch, flywheel, pressure plate, 911 trans stubs, sway away axles, 911
hub stubs, 911 cv's, 911 hubs, 914 bearings, hardware, etc... $?

it adds up so fast.

Posted by: JRust Apr 1 2019, 09:51 PM

With insurance like you said. IT isn't what you could sell your car for. It is replacement value. Replacement value if you have it done at a shop. When you customize your car. Say with a conversion. You are not going to find the same car for sale. While a bit more likely with a 6 conversion. You still have to price it if you were having it built. Hell I have my Subaru conversion insured for 50k & my appraisal is for more. I plan to up it to 75k once my current drivetrain upgrade is done. Some might say I'm on crack. Could I build one for less? Absolutely. Could I have a bare metal, ground up restore, metal gt flares installed, new gorgeous paint, chassis stiffening, 911 upgrade suspension, custom welding & parts up the wazu, Custom wiring galore, motor rebuilt & upgraded, New larger turbo, uprgaded every part of the fuel system, all new gauges plus all new rubber. There isn't anything that hasn't been redone with newer better parts. Could that all be done by a shop for less? Not in today's market. Could I sell my car for 75k? Hell no. Would I if I could? for 75k HELL YES. Would I sell it for my current 50k insured value? I'd say no but I would probably at least consider the possibility. Answer would still probably be hell no. Would all depend where I was at in life & what I really needed.

So there is my 2 cents on the subject. Which isn't a six conversion at all. I thought it might help put some of the six conversion guys in perspective though. A Porsche six conversion with the same upgrades is worth more

Posted by: roblav1 Apr 2 2019, 09:38 AM

Concur at least $50k US for a good 6 conversion.
BTW Mark, hope you like those webcams... I just noticed yours are what I just ordered for my 930/02 engine.

Posted by: Mark Henry Apr 2 2019, 10:39 AM

QUOTE(roblav1 @ Apr 2 2019, 11:38 AM) *

Concur at least $50k US for a good 6 conversion.
BTW Mark, hope you like those webcams... I just noticed yours are what I just ordered for my 930/02 engine.

Good choice I like them, good grunt, but totally streetable.
What pistons? JE? this won't work with stock slugs. Likes CR, 9.5 single plug, 10.5+ twin plug.

Posted by: roblav1 Apr 2 2019, 10:59 AM

JE 9.5:1. This engine has the lighter 2.7 6 bolt crank, large intake port, and clockwise distributor. Nice mix.
Glad you like them... I wanted an agressive street cam and was concerned I overdid it.

Posted by: Retroracer Apr 2 2019, 11:43 AM

My Insurance renewal came up last month; but this thread has got me thinking I need to re-think the insured value on the GT tribute. When I started getting parts sourced and the donor car purchased for the project in the 2013-ish timeframe, used prices were VERY different than today. I now worry (as Mark pointed out) that even just getting a shopping list together for used, good component parts in need of rebuild / refurb won't cover the $36K current insured value - let alone getting them refurbed and actually nailing the thing together. And paint. And roll cage install. And 7&8 Fuchs. And.... etc.

Good conversation here.

- Tony

Posted by: larryM Apr 2 2019, 02:42 PM

QUOTE(dr914@autoatlanta.com @ Mar 30 2019, 03:29 PM) *

any decent six conversion ... Nice paint and interior, is worth 50,000 to insure. These days just a great running original 911 engine is worth at least 15,000


this is from Hagerty Articles 2016

"Mecum offered a 914 upgraded to 2.2-liter six-cylinder power with 40mm Weber carburetors, Recaro seats, fender flares, Momo steering wheel and five-lug Fuchs alloy wheels at Houston in April. The trouble was that it wasn’t what it wanted to be – a 914/6. The bidders quit at $39,000, a telling contrast not only between real and make-believe 914/6s, but also the perils of spending vast amounts of money to make a 914 into a 914/6."

i guess that so long as we are willing to pay whatever the fee is, they'll insure for whatever we want to say, market value being irrelevant?

- kind'a like on Antiques Roadshow where they say "recommend to insure for $$xxxxx" vs giving the person a "well advertised auction estimate value" or "value in a high end retail store"

similarly, like jewelry which is also highly valued for insurance purposes - you can go get a diamond ring at Costco for about half of what the included paper suggesting the "insurance value" says

relevant thread here -
http://forums.pelicanparts.com/porsche-914-914-6-technical-forum/1018162-let-s-start-tracking-914-6-conversion-values.html

which most of you are likely tracking?






Posted by: mepstein Apr 2 2019, 03:14 PM

A Singer is just a modified 964. 964 vin. If it gets stolen or damaged, do you want the 964 price or the Singer price?

Posted by: 11tenths Apr 2 2019, 03:17 PM

What's the purpose of having insurance- is it not to be able to get another replacement car for the one you've lost? NOW, not another 5 year project, you've already invested your time.

As far as documentation- spend some time on Patrick Motorsports' site and tick all the boxes to build a conversion, like the guy I bought my car from did... I was astounded. blink.gif

I don't know about you, but I'm getting older everyday- I'd want to be able to buy a replacement car I could be proud of right away.

-Harry

Posted by: bbrock Apr 3 2019, 07:08 PM

FYI, I just bought a Hagerty policy yesterday for my resto project. They offer a comprehensive only policy for cars not registered and under restoration or storage. $132 for the year for an agreed value of $25K including an endorsement that automatically increases the agreed value by 10% per month. I thought that was pretty good and figured I'd mention it since I wasn't aware you could get comp only until I did some digging and it won't turn up using the online quote tool.

Posted by: 11tenths Apr 4 2019, 10:07 AM

They should call it "Jackstand Insurance". I could have saved 1/2 my premium for the 5 yrs the car was in the garage.

-Harry

Posted by: Chris914n6 Apr 4 2019, 12:01 PM

I just did a spreadsheet for mine. Started with the Hagerty FAIR baseline 75 1.8L; added 911 parts, new parts & conversion parts with reasonable labor rates and ended up near $25k. I think a full resto would put me $40k+.

I won't be building a replacement... taking too long to build this one.

Posted by: Mark Henry Apr 5 2019, 04:11 PM

QUOTE(Chris914n6 @ Apr 4 2019, 02:01 PM) *

I just did a spreadsheet for mine. Started with the Hagerty FAIR baseline 75 1.8L; added 911 parts, new parts & conversion parts with reasonable labor rates and ended up near $25k. I think a full resto would put me $40k+.

I won't be building a replacement... taking too long to build this one.


Just did hagerty Canada calculator, '74 1,8 #2 excellent condition is $38,100, so $28500 usd. I know that takes a hit for the conversion the the 911 goodies, but the those goodies have big $ value.

Posted by: thelogo Apr 5 2019, 04:18 PM

- spend some time on Patrick Motorsports' site and tick all the boxes to build a conversion, like the guy I bought my car from did... I was astounded. blink.gif











Hell yes i would love to do that but if you have to ask how much. .... As the saying go's

(? You got a 914)

Posted by: thelogo Apr 6 2019, 12:42 PM

https://orangecounty.craigslist.org/cto/d/orange-1973-porsche-914/6858973305.html


50 $ stirthepot.gif

Posted by: larryM Apr 13 2019, 12:51 PM


just did a search on 914/6 values - since 2012 it seems they have increased 150% per Hagerty

http://www.914world.com/bbs2/index.php?act=ST&f=2&t=337403&st=0#entry2704935

maybe that holds for conversions as well?

fwiw found this nice 3.2 conversion in 2014 for $35K ask - said $70K in rcpts
https://bringatrailer.com/2014/01/11/3-2l-swapped-porsche-914-6-cylinder-conversion/
http://forums.pelicanparts.com/porsche-cars-sale/790877-914-6-gt-built-g-fordahl.html


Posted by: Mark Henry Apr 14 2019, 07:27 AM

Appraised, insurance, build receipts and selling price are all different values.
I want it insured enough so that I could easily buy a finished comparable 914/6 conversion, I'm not into starting another project.

Posted by: sharper Apr 16 2019, 09:58 AM

Sounds like I have mine under insured compared to most everyone else. I've got it insured for $20k with Hagerty.

Posted by: mzapisek Apr 16 2019, 10:06 AM

I just bumped mine up from 35K to 60K with Hagerty. No questions asked cost another $140 a year.

Posted by: dwelle Aug 8 2019, 01:47 PM

i have a thread going over on pelican regarding valuation of my -6 conversion for insurance purposes. it dawned on me the good folks over here would be a great resource, so i'm reviving this thread. i really need to spend more time over here.

thoughts are appreciated...

http://forums.pelicanparts.com/porsche-marketplace-discussion/1036902-thoughts-914-6-value.html

Attached Image
Attached Image
Attached Image
Attached Image

Posted by: thelogo Aug 8 2019, 05:50 PM

Agreed value is the way .

Insurance co dont give a damn about

Really nice 6 conversion vs run of the mill conversions

They dont really know these cars as its not a 911
So you are literally educating the insurance co. on the value as you see it . not as they do yellowsleep[1].gif

To them its just a modified volkswagen

Posted by: horizontally-opposed Aug 8 2019, 06:21 PM

^ Agree with those who say agreed value is the way to go, which reminds me I need to review my coverage.

But one example of a six conversion that sticks did well is this car—it has a very tame engine but was presented well and seemed to check the visual boxes for a lot of people…more so than many of the modified 914s that come to market.
https://bringatrailer.com/listing/1975-porsche-914-6-gt/

There have been others that went for less, both on BaT and elsewhere.

As to agreed value, the poles would appear to be a realistic price when selling and a realistic price to build another one, if either are desirable scenarios. It's hard to imagine no 914 in the picture, but if mine were gone tomorrow, its replacement might not be a 914 (because my particular car is sentimental to me), so the price of something that might replace it is another marker to consider—and in my case lower than the cost to build another one. Just my .02...

Posted by: Coondog Aug 8 2019, 06:25 PM

Your policy cost is based on the value that you state backed up with your build receipts. Thinking your in the 100K plus neighborhood.

American Collectors Car Ins. Policy’s are based on stated value.

Posted by: rgalla9146 Aug 9 2019, 05:30 AM

Hagerty agreed to 50K on my conversion without any question.
The rep said 'no problem' we've seen standard 1975s sell for 50k
IF I did have a claim I doubt I'd have to show receipts.

Posted by: mepstein Aug 9 2019, 08:28 AM

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.


Posted by: Cairo94507 Aug 9 2019, 08:55 AM

I agree agreed upon value is the only way to go. When I spoke with Haggerty they said they would insure my car for $135K w/o having to discuss it further. Once I have the car home I will speak with them again and present documentation and photos and see what they say.

I just know if some dipshit 16-year-old in a raised 4X4 or 600 HP Mustang is driving down the road while texting, listening to music with headphones on while drinking a McFlurry and chatting with his friends and rear ends my Six, I want to have no issues and be able to have it repaired perfectly by Kent and the rest of the Justice League. beerchug.gif

Posted by: Mark Henry Aug 9 2019, 03:59 PM

QUOTE(mepstein @ Aug 9 2019, 10:28 AM) *

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.


agree.gif
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

Posted by: mepstein Aug 9 2019, 05:57 PM

QUOTE(Mark Henry @ Aug 9 2019, 05:59 PM) *

QUOTE(mepstein @ Aug 9 2019, 10:28 AM) *

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.


agree.gif
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

A shop in Philly PA charged our customer $22k to rebuild a 2.7 and it ran like crap until we sent out the WUR & FD to Tony Donato for a real rebuild.

I just insured one of my motorcycles for $16k. I have about 6 into it and market value is about 12 but just because my guy restored and painted the gas tank for 400 (hand painted pin stripes) doesn’t mean it’s not a $1,500 job.

Posted by: Mark Henry Aug 10 2019, 06:59 AM

QUOTE(mepstein @ Aug 9 2019, 07:57 PM) *

QUOTE(Mark Henry @ Aug 9 2019, 05:59 PM) *

QUOTE(mepstein @ Aug 9 2019, 10:28 AM) *

You need to insure it for what a good shop would charge to build you one from scratch, not what you paid over a 10 year time frame, chasing down deals and doing a bunch of work yourself.
At least get an understanding what that shop built number is even if you agree on less with your insurance.


agree.gif
I built my twin plug 3.0 for just over $10K, mostly through wheeling and dealing plus the Canadian/US dollar was at par when I bought most of the parts. Took me almost 8 years.
If you come to my shop today I doubt if I could do similar for less than $30K and that's not including most of the rest of the stuff needed to get it in the 914.

A shop in Philly PA charged our customer $22k to rebuild a 2.7 and it ran like crap until we sent out the WUR & FD to Tony Donato for a real rebuild.

I just insured one of my motorcycles for $16k. I have about 6 into it and market value is about 12 but just because my guy restored and painted the gas tank for 400 (hand painted pin stripes) doesn’t mean it’s not a $1,500 job.


I've pretty well stopped building long blocks, I have to install, tune, sort and test drive the engines I build to be sure it's done right.

Powered by Invision Power Board (http://www.invisionboard.com)
© Invision Power Services (http://www.invisionpower.com)