X1/9 appraised today....

petex19

petex19

True Classic
I know an X owner is never completely done but I am finished enough that it is time to evaluate my efforts and protect my baby.

I had it appraised today and will have the results next week. Has anyone else ever had their X appraised ? I've read on other threads about people having agreed upon values of what their X is worth with their Insurance companies but unfortunately my Insurance company told me that without an appraisal they will only pay out book value if anything happened.

After the appraiser left I was sitting on my front porch starring out at my X and admiring how beautiful it looked through all the landscaping so I shot some photos. I spent hours yesteday detailing it and tried out a new wax that I bought at the Canadian International Auto Show this past winter called "Worlds Best Wax" I know it sounds cheesy for a company name but I did research on this product that is only available through their website or select Ferrari and Lamborghini dealerships and the reviews are incredible. The concentration level of Carnauba Wax is like five times the best stuff sold in local autoparts stores and it leaves no white residue like other waxes do.


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'PeteX1/9
 
Honda S2000...

I bought those over the winter. Thier from a Honda S2000 and fit amazing in an X. You sit a couple of inches higher but being 5'7" I don't mind that at all.



My little brother and I

URL=http://img522.imageshack.us/i/p4300267.jpg/]
p4300267.jpg
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You can see how incredible the seats fit even with the top on.



'PeteX1/9
 
State Farm will insure both of my Xs for 10,000 agreed value no questions asked for 12 bucks a month for each policy. My 850 is agreed at 10,000 for the same amount......:)
 
My Insurance is with State Farm....

Maybe it's a Canadian thing? Either way $10,000 wouldn't satisfy me.
I know a car is never worth what you've put into it but I'm hoping for $15,000 plus for the appraisal.

'PeteX1/9
 
I've always admired your car Peter

...from the first time I saw it at FFO last year.
Really nice work! Thanks for sharing. This fall, you've gotta find a colorful background and do some photo shootin'.
 
$10,360, minimum IMOH

And if you get that front hood to close properly it may go up to $10,368.
At any value - it's a great looking X. :clap:
 
I had mine appraised at $8,000 back in 2000 when I went with the Silver Wheels plan. That was with fresh paint, me re-doing the interior, and the panasport wheels similar to what's pictured in my sig. I'd think that your's has to be ~$12,000 at least.
 
Loose the ducktail and I'll appraise it at $12.5K...

HAHAHA...

Great work and beautiful as always Peter... I believe the last shot with the roof on and DIRECTLY lined up from the side really accentuates that ducktail which is the ONE feature I personally have a bit of trouble with. As Chip (Foose), Boyd (Coddington) and I have always said... we like to remove the "barbs" that "catch the eye". HA... everything just FLOWS until I get to the end and BUMP... there it is!

BTW... I do "know the feeling" about having difficulty tearing your eyes off it... I traveled up to Visalia CA about 150 miles north of my home to visit some friends... and was staying at a hotel with my brother... who was coming down from Oregon. While I started to check into my room... I glanced back at the car next to the pool and background and just stopped. It looked great. I threw my things in the room... went back to the pool and positioned my chair, umbrella and drink so I could just stare at the scenery... and the car! I must've sat out there two hours waiting for my brother to arrive... HA!
 
This is a long responce so go to the Fridge and get something to drink and get comfy

I am going to give you guys my honest evaluation on appraisals. There are many compensating factors on this subject.

1. Originality ( for some cars this matters and for others not so much)
2. Number of built and year model ( some years are worth more than others)
3. Modifications ( some are improvements over the original design and some are detracting or devaluing in the eyes of the General buying public and the appraiser. for example the large wheels on this car in question could be considered and improvement to the look but may actually devalue the car for the market. So they may become a liability on the checks and balances of the appraisal. )

4. History ( since the advent of Carfax if your car is newer than 1980 it is much easier to look up the cars history even if you have spotty records and see a general over view of what the car has been through. This could be a detriment to value if there are questions here. If its an early 70s car the fact there is no carfax could be a plus if the car has been restored and no one can look up the history. This works both ways too incase you have a perfect 88 model the carfax really could help determine value.

5 (and Most importantly) Condition. ( To what extent has the mechanics been maintained or rebuilt and was it documented. To what extent is the interior and exterior, Does it have a 500 dollar paint job or a 5000 dollar paint job. Some appraisers are going to factor in how much it would cost to build a car to the standards of the one they are evaluating.

6 Comps (The biggest challenge with the X and its value is there are too many of them on the market that are still available for under 1000 dollars. If I sell my Dallara Fiat at auction this year and it brings 20,000 dollars it still can not be used as a comp for anyone elses car even another Dallara. When all of the price guides put these cars at between 2500 and 8000. With most of them evaluating the values at between 3500 and 5500. You also can not use European sales as comps. Because that is a different market segment and no appraiser would be allowed to use it. )

On this car I am going to be very honest and give my High Estimate valuation of 7000 dollars. Reasons are the wheels actually detract from the driving dynamic and overall marketability of the car and the interior albeit nice is not congruent with the original theme of the car. In other words this car has an identity crisis on its hand. It has ricer style wheels not vintage updates, It has ricer interior with the honda seats and other accessories yet it seems to want to be a rally car with its rally style head lights. Its year model is difficult to evaluate upon first glance because of the absence of bumpers. And since it has been customized to the point of the desired taste of its owner more than the desired taste of the majority of the buying public I could not in good faith give it a value of more than 7000 dollars.

Sorry Peter if this seems harsh but I just want to give you an honest opinion (which is what an appraisal is combined with attempting to find a similar car like yours to compare against). I have owned over 100 cars in my lifetime of just about every imaginable make. But don't take my word or opinion. I really am interested in what the appraiser sais. When you get the results. Lets see what the write up on the car looks like.. Who know we all may need to make a call to our insurance company...JJ

I purchased this car for 450 dollars in summer of 08 and sold it 60 days later for 5500 dollars and it was in amazing shape with leather and a quality 2 stage paint job. The leather was a great quality and the mileage was 87k original two owner car.

[ame="http://www.youtube.com/watch?v=jY6In7R-m18"]YouTube- 1985 Bertone Fiat x-19[/ame]

I purchased the Lancia scorpion for 925 dollars in Summer of 08 and sold it 6 months later for 12,600 but I dont believe that the value of the car is more than 8000.

[ame="http://www.youtube.com/watch?v=wEcbfRHYOJQ&feature=related"]YouTube- 76 Lancia Scorpion[/ame]
 
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Great car and worth every penny of a $18,000 appraisal here in Canada.... If its ever for sale just let me know...I love your customization...and your home landscaping looks as well kept as your car.

Mine (nothing like your beauty)was appraised almost 3 times what my American friends thought it would be appraised at, and in reality it will not sell for the appraised price but the appraisal was accepted by insurance as reasonable in the Canadian collector car market for a classic car insurance 19a full replacement policy.

I will be in Kingston in the next couple of weeks and would love to meet you and your car.

Paul





petex19 said:
I know an X owner is never completely done but I am finished enough that it is time to evaluate my efforts and protect my baby.

I had it appraised today and will have the results next week. Has anyone else ever had their X appraised ? I've read on other threads about people having agreed upon values of what their X is worth with their Insurance companies but unfortunately my Insurance company told me that without an appraisal they will only pay out book value if anything happened.

After the appraiser left I was sitting on my front porch starring out at my X and admiring how beautiful it looked through all the landscaping so I shot some photos. I spent hours yesteday detailing it and tried out a new wax that I bought at the Canadian International Auto Show this past winter called "Worlds Best Wax" I know it sounds cheesy for a company name but I did research on this product that is only available through their website or select Ferrari and Lamborghini dealerships and the reviews are incredible. The concentration level of Carnauba Wax is like five times the best stuff sold in local autoparts stores and it leaves no white residue like other waxes do.


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'PeteX1/9
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Thanks for your confidence.....

I appreciate everyones feedback and I do not take offense to any of the remarks as I do understand that everyone is entitled to thier own opinion. I really don't know what to expect from the appraiser. I gave him a very thorough list of everything I've put into the car with the amount spent and place purchased and gave him a couple of X1/9 comparibles although no other one is quite done like mine because of the big wheels and everything else but recently an original X1/9 was For sale in Toronto for $12,500 and I printed off the listing for the Eurosport that was originally asking $23,000 and had bidding upto $13,000 although it didn't sell I just wanted to demonstrate to the appraiser that X1/9's can value well over $10,000 so we'll see.

As for "Mityfun", I would love for you to visit me so let me know when you are planning to be in Kingston. I start holidays next Sunday and will be off for three weeks so anytime.
Are you bringing your X ?

'PeteX1/9
 
I love the car, minus the wheels. I gotta say they just aren't my taste but I can get on board with the rest.

As for the appraisal, I was under the impression that it was based on what it would cost, to re-create the same car?

Let say, for me to buy and X and turn it into exactly what Pete has. That value, I'm sure other things come into play. But each and every car IS different.
 
Mine was appraised at 5500 for the silver wheels plan, but mines no show piece.
For the silver wheels, he looked in a guide and I believe an 82 x was listed as
excellent - 7500
fair - 5500
poor - 2500
 
Just curious JJ.What is your opinion based on? How do you come about with this knowledge of where or how an appraisil will go? Again, just curious. I for one have no idea what to expect. I hope its up there, at least 10 due to the effort and quaility workmanship on the car. I must agree though, in my own opinion that the wheels dont fit the car. If it was mine there are only 3 things I would have done different. It is a beautiful car though.
 
I base these on the fact that I worked closely with an appraiser for 5 years and know a lot about how that business works. That and having purchased and sold well over 100 cars in the last 20 years. I have had more collector car insurance policies than Fingers and toes. So I guess I have some experience with it.. I guess you could say I am immersed in the value trends of certain cars. I have owned 9 Xs but then again most of us here have owned at least 3... I keep falling into the trap of buying a cheap X and then poring thousands of dollars into it and not getting what I put back. I had over 10,000 dollars in that Yellow x that I had several years ago. I ended up taking 3700 dollars for it after attempting to sell it for a over a year.. It took me over a year to negotiate an agreed value policy on that Fiat 850 spyder that I own. And they only gave me 10,000 on it. When I still think it is worth much more...After all I have all the receipts on the car since the early 70s..
 
Interesting....

Again, I understand that everyone has thier own opinion but I started competing last year in Car shows and have been amongst cars valued up to $250,000 + (Original Shelby Cobras) and at every Car show or local show and shine the first thing that anyone ever comments on is how incredible my wheels look and then the paint job and then they look at everything else. I agree that the wheels are not period correct for the car but maybe you just have to see them in person because they look amazing on the car and have been told that by everyone that has ever seen my car.

'PeteX1/9
 
petex19 said:
Again, I understand that everyone has thier own opinion but I started competing last year in Car shows and have been amongst cars valued up to $250,000 + (Original Shelby Cobras) and at every Car show or local show and shine the first thing that anyone ever comments on is how incredible my wheels look and then the paint job and then they look at everything else. I agree that the wheels are not period correct for the car but maybe you just have to see them in person because they look amazing on the car and have been told that by everyone that has ever seen my car.

'PeteX1/9
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I love the wheels...they make the car look so current and relevant.

Can't wait to see in person. Pete, I will pm you when I will be passing thru Kingston (business in Brockville, Lanark County and Prescott and Russel) and if weather is forecast dry I will bring either my Lancia or my X.
 
Pete it was just my opinion, it means nothing to anyone but me. They are nice looking wheels. I just tend to go down a different road.Your car is way nicer then either of mine. I think you did an awesome job.
 
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