Eljay

So for the fun of I check my car to see what they say.

1970 LS5 4-speed convertible

#1 $119,000 !!
#2 $79,300
#3 $44,400
I'm not sure where they get these numbers, my car is #2.25 but from what I have seen $50 K would be pushing it. If the $119 was close to real I could get a $15,000 paint job and still be in good shape.

Faster Rat

Where did you get the 2.25 from?

stingraymyway

It is a matter of perspective, and location. Car would never bring those prices in the area I live in. Out West, possibly.

71 Green 454

Interesting, I just checked Hagerty for my '71 LS5 4 speed convertible with my value adjustments:

#1 $101,450
#2 $67,550
#3 $48,150
#4 $31,550

If my original paint was repainted, I'm sure I would be in the hole. $40K would be pushing it for a '71 LS5 4 speed 55K miles convertible.

Faster Rat

These condition numbers obviously refer to complete, authentic, non-butchered cars without any stories...or aftermarket/Chinese parts installed. Most of us think our cars are better than they actually are. However, inflation has been skyrocketing and a rising tide lifts all boats. Instead of being in denial, we C3 owners should all be glad that our desirable cars are helping us to keep pace. Better use of our money than sitting in a bank account drawing no interest.

joewill

The definition of condition is what the major factor is.. Drop what you think your car condition is by 1 and that is what you might get for your car.

Hagerty is lots closer to reality than NADA.. at least.
I will take condition 3 money for my car any time...even though I think it is closer to a 2

CanadaGrant

Below is a free Corvette valuations phone app that is kind of interesting from corvettedna.com.

http://corvettedna.com/#/homePage

Eljay

I feel my car is somewhere between 2 and 3. When people see it at shows they think it is perfect but on close examination there are a lot of flaws. The price guide makes no mention of original drive train or not.

Fredtoo

I think the assumption is an original one. Hagerty is a Collector Car insurance co.

lvmyvt76

the monthly payment is probably the factor, I can insure my 76 with State Farm for any amount, as long as i make the monthly payment. They of course want pictures and will check the speedo for miles per year put on. The Year of Manufacture plates that I use already limit that!

BBCorv70

Not necessarily. I dropped Hagerty a note a few years ago asking whether their pricing assumed 'numbers matching'. They played down the matching numbers, said it may keep the car from ever reaching #1 class but didn't matter so much to people looking for a classic car to drive. Seemed strange. I'd guess the don't track that attribute when gathering sales prices for the different levels? Could be NOMs fall into class 4? I don't see how a NOM would ever get to class 2 or 1.

Eljay

Other types of NOM cars seen to bring pretty strong numbers, IE Hemi cars, COPO cars and some of the clones.

car junkie

It's a safe bet that all price guides are BS.

I've been looking at price guides for decades for very old and almost new cars, there is a disconnect from the guide values and reality. When these outfits can claim value ranges on rare old cars that you almost never see for sale at any price, you got to get a little suspicious. Recently I was shopping for a few year old car and checked into Kelly Blue Book, the reality is these same cars were selling on average 2 to 3K less than KBB.

It's be a while since I looked at Hagerty but aren't those guides for suggested insurance values? It's common practice to insure at a higher replacement costs than actual market values. Restoring these old cars always costs more than the market value.

vettebuyer6369

This is where I think Hagertys guides fail. If they don’t acknowledge the originality hit on Corvette value as compared to the lack thereof on other makes like Camaros and Mopars, then they lose a lot of credibility on their knowledge base. It’s one thing to highly value an expensive restomod that can be supported, but quite another to not clarify the difference between most original and nonoriginal cars.

I was using their guide yesterday as a reference on an appraisal as there no good source out there, and on one mid year model they allowed added value on for some options but not others, while they failed to even differentiate between coupes and convertibles.

It’s a ballpark like many guides, but many of the numbers are not supportable at all. Like NADA and Barrett Jackson, it makes some car owners think their cars are worth way more than they are and makes some sales difficult.

But, it’s put out by an insurance company and if they cover cars at these valuations, then good for the owners.

71 Green 454

When I switched to Hagerty insurance last year, I was offered an agreed amount of $50K for my '71 LS5 Convertible after sending lots of photos to the agent. I settled for a $40K coverage. Looking at Corvette for sale ads over several years, it seems like $35K is tops for a '71 LS5 4 speed Convertible/Hardtop. Not sure if original condition with 55K miles helps or hurts the selling value.

ajrothm

WOW I'm surprised you couldn't get more then $40k coverage for yours. I have $50k declared value coverage from Hagerty on my 71' and yours is much nicer then mine..

Mine goes to paint next month, and when I get it back, I'll be upping my coverage to $70k....(at my expense ofcourse).

71 Green 454

After seeing the detailed photos of my car, the Hagerty agent offered to insure it for $50K, but I thought $40K was plenty of coverage. The real value is when I try to sell and it still looks like it's a buyers market. I'm afraid that the demand is shrinking.

Duke94

Nice looking car. Love the green.