1968 How do you determine the value of a 68 H.C.S.?

[clubpro]

I am needing to update the value of my High Country for my insurance and have looked at the NADA report (which is a joke in my opinion) and I have looked at the Hagerty Value Guide which I also question because they show the Cal Special valued higher than the High Country.

The question I have is how do you determine the value on a car that you never see for sale? I haven't seen a 68 High Country come up for sale on any of the websites except for Guyman selling his on this website and I am looking at them all of the time. I asked my insurance guy this simple question "how do you place a value on something you can't replace?" He couldn't answer the question. If the car was stolen or heaven forbid totaled I could not go out and buy another one tomorrow so how do you determine a value?

Cheers,

Ron

 

[stangfan]

Do you have a good appraiser in your area?

 

[Don]

I am needing to update the value of my High Country for my insurance and have looked at the NADA report (which is a joke in my opinion) and I have looked at the Hagerty Value Guide which I also question because they show the Cal Special valued higher than the High Country.

The question I have is how do you determine the value on a car that you never see for sale? I haven't seen a 68 High Country come up for sale on any of the websites except for Guyman selling his on this website and I am looking at them all of the time. I asked my insurance guy this simple question "how do you place a value on something you can't replace?" He couldn't answer the question. If the car was stolen or heaven forbid totaled I could not go out and buy another one tomorrow so how do you determine a value?

Cheers,

Ron

Definitely a gray area and tough thing to figure out. Probably the only thing an insurance company will accept is an appraisal and there is no guarantee they will accept the appraised value. Another rub is that even though you may insure for the appraised value there is also no guarantee that a settlement will be based on that value unless that is spelled out in the policy.

 

[dalorzo_f]

Unfortunately the sentimental/enthusiast perceived value of the "rare" car often does not translate into $$.

While there are a few who know and love them, from a truly "collectable" status they are not really a big $/high demand car... The fact the fewer HCSs were made makes them, overall, somewhat less desirable (counterintuitive) as most people don't know what they are and the vast majority really would not pay more for a HCS over a similar GT/CS. (the rarity of two stickers on the scoops is not really a big dollar divider between the two '68 variants IMO).

You probably would have a very hard time replacing a Pacer or Gremlin in clean condition too, so sadly the "I can't find another" really does not factor into the "value" from an insurance standpoint... Insurance is financial reimbursement for loss, not a guarantee of getting the exact same thing back. House burns down, you build a new one, not the exact same one... and all the personal contents are gone. Unfortunately similar with a car if it is totalled...

As noted get agreed/guaranteed value, as appraisal numbers aren't worth much if the policy is not written to provide that as a stated payout in the event of loss.

It seems to be, in general, that a GT/CS or HCS brings ~10-15% more than a similar coupe. A "rarer" car may bring a premium, e.g. big blocks, as a true "one of.." that makes a difference to value...

 

[CougarCJ]

It seems to be, in general, that a GT/CS or HCS brings ~10-15% more than a similar coupe.

I disagree with the above.
Hagerty Values a GT/CS about 18% over a similar coupe.
Nada Values a GT/CS about 31% over a similar coupe.

Since I got into these cars, my feeling has been that a GT/CS or HCS is 20-25% over a 'like-kind-quality' 1968 Mustang Coupe, exactly equipped. i.e. 289, C-4, Power steering, etc.

 

[dalorzo_f]

Cool... higher is better to me, my car is "worth more"...estimate is only based on cars I have seen.

... and anyone that thinks NADA values have any semblance to reality is kidding themselves... not clue what Ouiji board they use.. kinda similar to using Barrett-Jackson as the benchmark for market value IMO...

 

[Ruppstang]

I am needing to update the value of my High Country for my insurance and have looked at the NADA report (which is a joke in my opinion) and I have looked at the Hagerty Value Guide which I also question because they show the Cal Special valued higher than the High Country.

The question I have is how do you determine the value on a car that you never see for sale? I haven't seen a 68 High Country come up for sale on any of the websites except for Guyman selling his on this website and I am looking at them all of the time. I asked my insurance guy this simple question "how do you place a value on something you can't replace?" He couldn't answer the question. If the car was stolen or heaven forbid totaled I could not go out and buy another one tomorrow so how do you determine a value?

Cheers,

Ron

Ron I do not put a lot of stock in those appraisal sites epically on rare or seldom sold vehicles. Their system of averaging the number of vehicles sold works pretty well on newer vehicles where large volumes turn over each year.
I usually total the cost of what I have invested then factor some HCS or GTCS with similar options current sales. Then purchase a agreed value policy in the amount that I would be satisfied with in event of a total loss. Most companies that sell agreed value insurance will let you set the amount within reason.
I have some where around 55K invested in our HCS and have it insured for 35K.
I believe that a HCS should have a slightly higher value based on the low number of them. IMHO I do not believe that a serious collector would be unaware of the rarity of a HCS. It could be true of a average Joe but he is not the purchaser I would be looking for any way.
This site has done wonders in many ways in educating many about these wonder cars.
Good luck Marty

 

[robert campbell]

+1 to Marty. Purchase a value for total loss. Certainly you can't purchase $50k coverage for a beat up Yugo, but Hagerty seems very easy to deal with. Hagerty balances out your requested value based on a local appraisal, market value (not that reliable in my mind) and some good pictures of your car. I have both my cars valued at $30k. If totally gone, that is not anywhere what I have in them, but would allow me a good start on another one and fits into the value that Hagerty would cover for these cars.

I have a couple local guys that deal in nice newer used vehicles, but have roots in the old stuff for appraisals. They have a good feel and in most cases will be higher than you would suspect. And if they know you they will work with the value with your input. And you should look at updating it if the market goes crazy, but in my experience the market has been somewhat stable on our cars.

Rob