[DML] Re: How does a company like Hemmings come up with such incorrect i
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[DML] Re: How does a company like Hemmings come up with such incorrect information?

If you do actually require an appraisel have the appraiser get in
touch with DMCH. They can provide enough background materiel to help
your appraiser set a value to the car. The way it is done is you take
a car in perfect or #1 condition and see what it sold for. A recent
auction is generally the best measure but private sales can be used
too. You then try to acertain the condition of the car being
appraised. For instance if a #1 car sold at a recent auction for
$37,000 and you have a #1 condition car then you can say that car is
worth $37,000. If the car you are trying to value is in less than #1
condition, say #2, then you would deduct a certain amount for what it
would take to get it from #2 condition to #1 condition. Most insurance
companies will insure up to $25,000 without an appraisel. They will
ask for some pictures to document it's condition at the time you
insure it. Most appraisers will purchase from auctioneers a book of
recent sales so they can see what the market is for a particular car.
This is what is known as "comps" or comparable sales. Before you go
spending money on an appraiser get some quotes from several insurance
companies. I tend to prefer Haggerty but there are many good ones. The
better ones advertise in Hemmings.
David Teitelbaum
vin 10757

--- In dmcnews@xxxxxxxxxxxxxxx, "John" <silversurfer@...> wrote:
> or is it just me?!!  
> I am planning on paying for a professional appraisal for insurance 
> purposes, and I hope they don't use this as a reference. Does anyone 
> have any suggestions if they come in "too low"
> http://tinyurl.com/7vj5y
> John
> #7009

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