How accurate is the Hagerty Valuation tool?

[moparedtn]

Hagerty needs to get their act together on these cars real values IMHO.

Again, refer to my post above - Hagerty pays a dozen people just to "compile auction results, asking prices,
and private sales activity."
If that ain't "getting their act together", I don't know what is...but it's sure more accurate than anything a single
private human is going to come up with doing their own research.
Being the largest collector car insurance company and having over a million customers, it behooves them to be
as accurate as possible on vehicle values, as they do write stated replacement value policies every day.
It just makes sense for them to be good at it - and they're damn good at it.

 

[XS22J8R]

OK, you are right, I am wrong. Hagerty has the values on '70 Coronet RT convertibles nailed down to a tee thanks to their hard working staff of a dozen experts.
So I am sitting here with $5000 in crisp Benjamin's as a finders fee, awaiting you to find me a concours '70 Coronet R/T convertible for $60,200. I am heading out to gas up my Ram right now to head down to Tennessee to personally hand you that money and thank you personally for your help, because I am not finding any to buy at that price. None even close.
Can you provide me the details on these cars for sale and your address so I can stop by with my rig on my trek to pick up my new ride?

 

[autoxcuda]

Again, refer to my post above - Hagerty pays a dozen people just to "compile auction results, asking prices,
and private sales activity."
If that ain't "getting their act together", I don't know what is...but it's sure more accurate than anything a single
private human is going to come up with doing their own research.
Being the largest collector car insurance company and having over a million customers, it behooves them to be
as accurate as possible on vehicle values, as they do write stated replacement value policies every day.
It just makes sense for them to be good at it - and they're damn good at it.

There is a huge spectrum of collector cars for a dozen people to track. I think it can get you in the ball park. Some circumstances more than the others. But it's not the end all. Not buying their sales pitch.

A person invested decades into a very specific era and model can't be matched by a dozen people covering every vehicle built for 100 years (1886-1986) plus newer specialty vehicles.

They are not damn good at every car evaluation it and they basically admit it. Another post here stated Hagerty asked for appraisal. The valuation tool doesn't cover many aspects effecting value. Like specific options, colors, special models, survivors... It's just left out. They don't attempt to touch it.

They only take their tool to a certain degree of detail and accuracy.

 

[moparedtn]

They only take their tool to a certain degree of detail and accuracy.

Of course - and as the preeminent insurer of such vehicles, that means accuracy to the point they maintain profit margin
on underwriting our policies. If I ask for $80k "stated value" on my $40k car, they're gonna know that's unacceptable and
will refuse the policy, for example.

 

[XS22J8R]

Here’s another data point a Mopar collector friend of mine reminded me of. He said it was for sale at Mopars in the Park for $80,000 and someone quickly scooped it up. Soon afterwards it showed up at Volo, and it didn’t linger there for too long before it sold. His recollection was that Volo was asking $139,999. Someone made a profitable flip!
1970 Dodge Coronet
Did the buyer overpay? Possibly. By a factor of 2? No.
I thought the last couple years taught us everything we need to know about the downside of blindly following what experts say? Well, not everyone, I often still see someone driving alone in a car or riding a bike wearing a mask.

 

[autoxcuda]

Here’s another data point a Mopar collector friend of mine reminded me of. He said it was for sale at Mopars in the Park for $80,000 and someone quickly scooped it up. Soon afterwards it showed up at Volo, and it didn’t linger there for too long before it sold. His recollection was that Volo was asking $139,999. Someone made a profitable flip!
1970 Dodge Coronet
Did the buyer overpay? Possibly. By a factor of 2? No.
I thought the last couple years taught us everything we need to know about the downside of blindly following what experts say? Well, not everyone, I often still see someone driving alone in a car or riding a bike wearing a mask.

Wow, that car has a lot going for it. Yellow, 4spd dana, number motor, buildsheet... 4-speed is BIG. Lots of interested buyers. Funny how there are detailed and significant pictures for that car, but other cars they sell have 20 pictures of the same taillight

Of course, just because Volo asked $139K doesn't mean they got near that. $20K even $15K would still be a nice profit.

Friend sold Superbird through RK Motor (or one of it's past names). They get him all pumped up with a high asking price. So, they get the consignment AND the car on site. Then after a while they grind you down to lower the price after no movement. Ended up trading two lesser cars that they said could sell easier. It sorta worked out in end. But what a fiasco!

 

[Nxcoupe]

With the 70 you love it or hate it. I love my Bee

Friends of mine used to call them ugly bees. Lol. I told them to each his own, I like them.

 

[Nick2317]

I have a 70 coronet r/t convertible and their valuation tool from what I recall was a joke