What's it worth?

[Redmist]

The last of the NZ AW11 face lifts must be worth something extra.

[Roman]

I understand the frustrations, but you cant expect this thread to be an authority on what cars are worth when there's such a massive bias towards them being worth heaps by everyone who posts here.

A lot of people with older cars seem to think that their maintenance items count towards the cars value, or that the car will make them money back one day...

Cars have to be the worst investment possible

I agree that specialised insurance is the only practical option for especially mint examples of some of the older models.

To somewhat contribute to the thread however,

I bought a green gen 1 NA SW20 for $3400 I think it was, 160km on the clock in probably 2003-2004. At the time, car yards had auto gen 1 SW20s for about the $5-6k mark.

Then I bought 2011 an auto gen 1 NA SW20 for $500 with 200k on the clock.

In probably year 2000 or so, a pair of guys I knew bought an AE86 and a supercharged AW11 as cheap beaters for sub $1000, and gravel bashed them to an ignoble death.

Times have changed since for the better since then I guess, haha.

[mickeyduck]

you cant expect this thread to be an authority on what cars are worth when there's such a massive bias towards them being worth heaps by everyone who posts here.

Perhaps we should ask the question on a muscle car forum as well, just to even things up? I own a race worked '66 Holden - does that counter my pro-Jappa bias?

I'm asking MR2 owners on this forum, because it's full of MR2 owners. Seems like a good place to find them...

If we can accumulate info on what people have paid for an MR2 then we will get a better bead on what they are worth.

And whether the club can get to be a valuation authority for insurance purposes, I have no idea as yet cos I don't know what's involved. But if so, it'd surely be a good thing for MR2 owners...?

And that's all I'm seeking to do here mate - help MR2 owners.

I've asked for people to post what they paid for their MR2 cos no-one's going to pay more than they think it's worth.

I've also asked for people to post screen shots of other people's MR2's for sale on Trademe. No bias there, except that some of those cars may or may not sell at the asking price... But so what, it gives us an indication.

And it's true that some folk (as you've pointed out) will never recognise the value of an MR2 and simply trash them - but I personally don't have a problem with MR2 owners regarding their cars as things of special value. Bias? Hell yeah I'm biased. And proud of it. I love these cars...!

[Redmist]

Roman you are right maintenance does not add any extra value to the car above market price.
I will use my latest ride as an example. Charlie you are asking us to post what we paid for our cars as an example of their worth.
Mine is one of several examples that would devalue ever car with in that model range, yep ever mr2 N/a up to 87 is worth less than $1000, could even de-value the rest of the 87+ n/a's. Getting it home, running and re vinning is maintenance, $800 spent and its still a $1000 car.
I also know of a $500 SW20 GTS + maintance. Cleaned up it turned out to be a very nice care.
At the moment there is a $3500 AW11sc in reasonable condition on TM.

I think the question should be is,"When buying a MR2, what is the top dollar you are prepared to pay?

[Redmist]

I put this up as an example. Please post what you think this is worth.

[mickeyduck]

I think the question should be is,"When buying a MR2, what is the top dollar you are prepared to pay?

a.k.a. "how much did you pay for your MR2" cos you're not going to cough up more than you are prepared to pay.

Though you're right, a bargain hunter like yourself might pick one up cheap then invest in restoring it...

I'm guessing that unlike yourself (and a wee collection of like minded folk here) most people probably just buy their car and drive the thing though.

You're perhaps a tad more inclined to work on your car than most I'd imagine John (telescopes aside)... More likely to sniff out a bargain then restore it at minimal cost, cos you're a cunning chap and you know what you're doing. In fact if this were a science experiment you'd likely be excluded from the result set as being something of an anomaly, a tad too far off the median... That's a complement by the way...

I'm so hanging out to see that 7AG whatever it's gonna be going...

Hmmm... maybe another question we should ask, to go with yours John, is "how much would it take to part with your MR2?" Like, what would you want for the Red Mist if you sold it? Hmmm...

[Redmist]

I have a couple of figures in mind of what I would like and settle for to make a sale but the real worth is in the buyers eyes, hence the question. The average car has to have a point of difference to get top dollar, otherwise their expected value is not as high as their actual value.
Another question: Has the bargains actually reflected true market value?

[Joel]

This looks like a bargain compared to everything else online at the moment.

http://www.trademe.co.nz/a.aspx?id=561049926" onclick="window.open(this.href);return false;

[flying_wedge]

This looks like a bargain compared to everything else online at the moment.

http://www.trademe.co.nz/a.aspx?id=561049926" onclick="window.open(this.href);return false;

Thats because it has that awful midnight blue interior

[mickeyduck]

This looks like a bargain compared to everything else online at the moment.

http://www.trademe.co.nz/a.aspx?id=561049926" onclick="window.open(this.href);return false;

Thats because it has that awful midnight blue interior

Yeah, ripped that outta my tin-top, hated it.

Still looking for a set of good black face-lift electric door cards...

[wellyclimb]

Excellent thread!! Have just insured our AW11 for $7000 agreed value (Paid $6500 for it last year), but as usual that is only agreed and we would be likely to get very little if they decided to pay out the market value instead.

Does anyone know of any reliable dealers in Wellington who would do an AW11 estimate, taking into account the very low km's and excellent condition?

Also, where are all the AW11's hiding in Wellington? I drive mine most days and am always looking out for others around.
We have been trying to get to the runs but something always comes up!!

P.S. Will post a photo of MR2 later tonight.

[pauln]

Excellent thread!! Have just insured our AW11 for $7000 agreed value (Paid $6500 for it last year), but as usual that is only agreed and we would be likely to get very little if they decided to pay out the market value instead.

Does anyone know of any reliable dealers in Wellington who would do an AW11 estimate, taking into account the very low km's and excellent condition?

Also, where are all the AW11's hiding in Wellington? I drive mine most days and am always looking out for others around.
We have been trying to get to the runs but something always comes up!!

P.S. Will post a photo of MR2 later tonight.

Hi looking forward to photo

[Grrrrrrr!]

Excellent thread!! Have just insured our AW11 for $7000 agreed value (Paid $6500 for it last year), but as usual that is only agreed and we would be likely to get very little if they decided to pay out the market value instead.

Eh? If its an agreed value policy then they have to pay the "agreed value" if the car is written off. If its a market value/sum insured policy then you will get SFA if its written off unless you can put up a good fight and prove its market value was higher (up to the insured value on the policy)

[wellyclimb]

I agree, however the guy from AMI specifically said that for our policy agreed value is NOT guaranteed and they can choose to pay out market value instead. The only way to be guaranteed they will pay out the agreed value is if we have a letter from an approved appraiser stating what it is worth. I always thought agreed value was agreed value, but he has stated this is not the case.

[Benckj]

I've just gone through this exercise with AMI after they dropped my car value down to $10k even after I had an valuation for $15. The valuations are only good for 2 years then they reduce your car back down to what they consider market price. So you either have to get another valuation or accept what they give you. Difficult to find an assessor who can fairly value the cars as they have limited cars to compare domestically. The part which really annoys me is that regardless of what they drop you value down to the premiums stay the same.