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Old 11-20-2014, 11:55 AM   #1
ricochetrider OP
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Vintage Bike Value Assessment/Appraisal?

OR:

How do we nail a real world value for our vintage motorcycles?

I'm not talking about emotional value;
As in "this was my dad's bike and now it's mine".

Or some BS trumped up imaginary value;
As in " I have over 11,000.00 in tasty farkles on this bike".

But. Real, hard value as if maybe something catastrophic happens, like a fire, or theft- some kind of total-loss incident that cannot be overcome or reversed.
HOW do you KNOW what it's really gonna cost, say to replace it as it is, in the exact same condition (minus *farkles*) as your beloved classic or vintage machine is right now.

Say you want to do like me, and insure your bike for an "agreed value"- in theory, I suppose this means if I insure my bike at an agreed [replacement] value of, say,
10 grand, in a total-loss situation, that's what they'll give me?

But is there anyone who will look seriously at our bikes and definitively assign a real-world VALUE to them?
A appraisal company maybe?

Come on ADVriders...
Whatcha got?
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Old 11-20-2014, 12:41 PM   #2
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Over here in the UK, we use the owners club, the insurance company like to have a good photo of the bike accompanied by a valuation letter from the marque specialist of the relevent owners club.

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Old 11-20-2014, 01:41 PM   #3
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Hmmm.

I did a fast internet search and came up with several appraisal services and at least one insurance company who will,appraise then insure your vintage bikes- but they seem a little picky- no custom bikes (choppers- as listed on their guidelines)...
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Old 11-20-2014, 02:57 PM   #4
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Real world value = what it will sell for now. Do an Ebay search, save it, and run the search daily for a week or two. Like it or not, that's the value.
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Old 11-21-2014, 09:46 AM   #5
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ebay is fine for ordinary bikes, rarer ones not so good - I kept a search going for my bike for over a year without a completed ebay UK sale: the only one listed had a starting price of £12k and, not surprisingly, didn't get any bids

Owners clubs, marque or model forums and specialist mechanics are all worth talking to - not only can they value your bike but the gossip over who has actually paid what is invaluable, especially in these days of optimistic asking prices
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Old 11-23-2014, 02:30 PM   #6
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Ebay is NOT a way to tell what your bike's value is. Of course many bikes are "worth" what a given person will pay you on a given day...
But that's not how to determine if you have enough insurance on it, nor is it a benchmark to determine if you'll get paid enough for it if something should happen to it under some pone else's care..
Like if it were to be used in a film shoot, or displayed in a museum, or whatever.
I'm talking about an appraisal, not a "sale on ebay value".
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Old 11-25-2014, 04:15 PM   #7
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Where are you? To do an appraisal, the appraiser will need to see the bike personally.
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Old 11-26-2014, 08:37 AM   #8
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I insure all my vintage motorcycles through Hagerty, which is an insurance company specializing in vintage vehicles. They use this guide to put a ceiling on a maximum stated value. Since it is the most accurate guide I'm sure other vintage specialty companies may also use it.
If you have a specialty bike, such as used in a movie or owned by a celebrity, that is the only reason you'd probably need an appraiser as your own personal connection or customizing doesn't mean anything.

I also keep a copy of it handy anytime I'm at an auction or even checking bikes on ebay.
Although it is, as the book says only a guide, they use many sources such as auctions, collectors and vintage dealers to gather data for them. You can actually sign up to be a data gatherer for certain marques if you wish.
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Old 11-26-2014, 09:11 AM   #9
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Our club uses Bonhams consultant Paul d'Orléans when we need to
get an appraisal ... guess he charges a couple hundred bucks for one.

You can reach him through his blog:

http://thevintagent.blogspot.com/

I'd say he's the man to go to if your bike is rare or
valuable or obscure ...

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Old 11-26-2014, 01:07 PM   #10
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I'd be interested to know how close the Hagerty guide gets to the prices bikes actually realise when sold - the last time I heard of an insurance company (not Hagerty) quoting "an industry guide" to values they were laughably underpriced (eg valuing a Jota at $2000 when they were regularly selling for $12000) and it took legal action before the insurance company revised their valuation upwards...

The whole point of insurance is to put you back in the position you were before the claim so if it costs $10000 to replace your classic with a similar bike then that's what your insurance company should pay, assuming you had given them all the information to price the risk appropriately
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Old 11-26-2014, 01:57 PM   #11
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Quote:
Originally Posted by sfc1k View Post
I'd be interested to know how close the Hagerty guide gets to the prices bikes actually realise when sold - the last time I heard of an insurance company (not Hagerty) quoting "an industry guide" to values they were laughably underpriced (eg valuing a Jota at $2000 when they were regularly selling for $12000) and it took legal action before the insurance company revised their valuation upwards...
First of all the guide I listed is not connected to Hagerty. It is just the guide they use to avoid a stated value being unrealistic to the possibility there could be fraud committed.
I just looked up the Laverda Jota you mentioned in my guide pictured above and the top limit on it is exactly $12,000. Not bad.
I know all models aren't dead on, but for a guide it is hands down better than any I've seen.

Edit: I'm not connected to Hagerty, although I use them to insure about 75 of my classic bikes. I see and talk to them often as they are at all the major shows and auctions around the country.
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Old 11-26-2014, 02:37 PM   #12
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glad to hear it's pretty good - way out valuations aren't too bad a problem if you know what your bike is (roughly) worth as you're not obliged to accept any offer & you can (in the UK anyway) haggle with an insurance company: as soon as I realised I was going to make a claim on my SFC I started keeping an eye on the market so that when they offered me £2500 I could demonstrate that £5000 was more like it.

On the other hand, I'd worry about someone who had cause to claim and was unaware of the state of the market: I can think of a couple of lovely old gents with massively valuable old bikes who have no inkling of the value as they've had them for years and have no plan to sell them. If you've had your AJS 7R for 45 years you may well be a touch surprised at what it turns out to be worth.

I've never insured with Hagerty but they seemed pretty switched on when we spoke to them at a British show a couple of years ago - unfortunately they don't insure modern enough bikes to cover the daily drivers so we were cheaper staying with our existing insurer
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