Pennock's Fiero Forum
  General Fiero Chat
  Valuing a 1987 convertible

Post New Topic  Post A Reply
Email This Page to Someone! | Printable Version


next newest topic | next oldest topic
Valuing a 1987 convertible by 87convert
Started on: 07-27-2021 09:58 PM
Replies: 12 (324 views)
Last post by: 87convert on 08-08-2021 12:48 PM
87convert
Member
Posts: 539
From: Mesa, Az USA
Registered: Jun 2003


Feedback score: (2)
Leave feedback

Rate this member

Report this Post07-27-2021 09:58 PM Click Here to See the Profile for 87convertSend a Private Message to 87convertEdit/Delete MessageReply w/QuoteDirect Link to This Post
I have been the owner of this 1987 base model convertible for many years. It was built by Conversion Concepts in Ft Lauderdale Fla ( the same company that built the Holland Pontiac batch) and sold as new from a local dealership. I am the 3rd owner and have a documentation trail through the previous owners. Unfortunately none of the original purchase documents came with the car. My issue is I want to insure it as a collectible but have no idea what value to put on the car. The companies I have discussed the issue with were of no help, some not even being aware of these cars. So I am reaching out to any convertible owners to see how they valued and documented their cars.

Thanks;
Rolland
IP: Logged
PFF
System Bot
Dennis LaGrua
Member
Posts: 15139
From: Hillsborough, NJ U.S.A.
Registered: May 2000


Feedback score:    (13)
Leave feedback





Total ratings: 328
Rate this member

Report this Post07-28-2021 06:07 AM Click Here to See the Profile for Dennis LaGruaSend a Private Message to Dennis LaGruaEdit/Delete MessageReply w/QuoteDirect Link to This Post
I have a Fiero 85GT Convertible based on the Brisa/California Convertible kit. That kit alone cost me $2000 16 years ago so if you add in labor it was an expensive option.I would say Convertibles are certainly worth more than the base model value of the car that they are installed on. A guess; perhaps 2X the value of what the car would sell for in the condition that it is in or in reality what a buyer is willing to pay for it. You could also put it up for auction and see what it brings.

------------------
" THE BLACK PARALYZER" -87GT 3800SC Series III engine, custom ZZP /Frozen Boost Intercooler setup, 3.4" Pulley, Northstar TB, LS1 MAF, 3" Spintech/Hedman Exhaust, P-log Manifold, Autolite 104's, MSD wires, Custom CAI, 4T65eHD w. custom axles, Champion Radiator, S10 Brake Booster, HP Tuners VCM Suite.
"THE COLUSSUS"
87GT - ALL OUT 3.4L Turbocharged engine, Garrett Hybrid Turbo, MSD ign., modified TH125H
" ON THE LOOSE WITHOUT THE JUICE "

IP: Logged
2.5
Member
Posts: 43222
From: Southern MN
Registered: May 2007


Feedback score: (1)
Leave feedback





Total ratings: 184
Rate this member

Report this Post07-28-2021 11:25 AM Click Here to See the Profile for 2.5Send a Private Message to 2.5Edit/Delete MessageReply w/QuoteDirect Link to This Post
I would guess similar to a non convert, as long as the convertible parts do not make it any less watertight? Your market would be smaller maybe, but the folks that really want a convert might pay more. That is tricky.
IP: Logged
87convert
Member
Posts: 539
From: Mesa, Az USA
Registered: Jun 2003


Feedback score: (2)
Leave feedback

Rate this member

Report this Post07-28-2021 01:24 PM Click Here to See the Profile for 87convertSend a Private Message to 87convertEdit/Delete MessageReply w/QuoteDirect Link to This Post
I do have some Conversion Concepts sales material and the original markup on the version I have was 1.8x so that approach could work. Since they are no longer in business, it would not be possible to source any parts should the car be damaged in an accident. I did get a bid to replace the canvas top and plastic window which was $1500 assumnmg they could use the original for a pattern. However, sales numbers are very low for the 87 base model and I am not comfortable with a valuation less than $5000. I don't think you could buy one in my condition for that much.

So once again, any owners of Fiero convertibles out there willing to share their valuation and documentation required?

Rolland
IP: Logged
Dennis LaGrua
Member
Posts: 15139
From: Hillsborough, NJ U.S.A.
Registered: May 2000


Feedback score:    (13)
Leave feedback





Total ratings: 328
Rate this member

Report this Post07-30-2021 10:39 AM Click Here to See the Profile for Dennis LaGruaSend a Private Message to Dennis LaGruaEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 87convert:

I do have some Conversion Concepts sales material and the original markup on the version I have was 1.8x so that approach could work. Since they are no longer in business, it would not be possible to source any parts should the car be damaged in an accident. I did get a bid to replace the canvas top and plastic window which was $1500 assuming they could use the original for a pattern. However, sales numbers are very low for the 87 base model and I am not comfortable with a valuation less than $5000. I don't think you could buy one in my condition for that much.

So once again, any owners of Fiero convertibles out there willing to share their valuation and documentation required?

Rolland

Posting pictures might allow the Fiero owners here to provide an honest opinions on what your car is worth. I don't believe that we have more than a few convertible owners on this forum but there are a few appraisers here. If it needs a new top and other work it will figure into the value. Powertrain is also a factor. It sounds like you have a 2M4. Options also influence value. If you wish to post pictures, just sign in and click on the upload image button, then find the location on your computer, select it and post it here.

------------------
" THE BLACK PARALYZER" -87GT 3800SC Series III engine, custom ZZP /Frozen Boost Intercooler setup, 3.4" Pulley, Northstar TB, LS1 MAF, 3" Spintech/Hedman Exhaust, P-log Manifold, Autolite 104's, MSD wires, Custom CAI, 4T65eHD w. custom axles, Champion Radiator, S10 Brake Booster, HP Tuners VCM Suite.
"THE COLUSSUS"
87GT - ALL OUT 3.4L Turbocharged engine, Garrett Hybrid Turbo, MSD ign., modified TH125H
" ON THE LOOSE WITHOUT THE JUICE "

IP: Logged
87convert
Member
Posts: 539
From: Mesa, Az USA
Registered: Jun 2003


Feedback score: (2)
Leave feedback

Rate this member

Report this Post07-30-2021 03:21 PM Click Here to See the Profile for 87convertSend a Private Message to 87convertEdit/Delete MessageReply w/QuoteDirect Link to This Post
I am looking for what current owners have their cars insured for. The car it self is in very good condition with no rust and minimum wear on the interior. If I had a sense of what others have successfully negotiated with classic care insurance companies I would have a basis to begin such discussions with my insurer (Haggerty). Unfortunately I lost all of my pictures in a recent hard drive crash. I searched here and could not find a picture of it. I will have to wait until the project i the driveway is done to take some more pictures.

Rolland
IP: Logged
Australian
Member
Posts: 4701
From: Sydney Australia
Registered: Sep 2004


Feedback score: (3)
Leave feedback

Rate this member

Report this Post08-02-2021 04:37 AM Click Here to See the Profile for AustralianClick Here to visit Australian's HomePageSend a Private Message to AustralianEdit/Delete MessageReply w/QuoteDirect Link to This Post
It has no more value than any 87 fiero only original cars as an insurance company just sees that any damage will be a write off you aren't insuring it to be repaired you're insuring that you are covered against other claims and to be compensated for loss. Insurance won't involve repairs of your old car.
IP: Logged
87convert
Member
Posts: 539
From: Mesa, Az USA
Registered: Jun 2003


Feedback score: (2)
Leave feedback

Rate this member

Report this Post08-02-2021 09:22 PM Click Here to See the Profile for 87convertSend a Private Message to 87convertEdit/Delete MessageReply w/QuoteDirect Link to This Post
I carry declared value classic policies for my collectible cars. I am currently negotiating with Haggerty ( who insures 3 of my clasics) on how to declare a value for a coach built, low production number car, namely my 87 convertible built by Conversions Concepts. These policies pay up to the declared value for repairs or replacement of the vehicle. Since these cars are so rare Haggerty does not have any information about them Even auctions have turned up very little. I have provided them with documentation about Conversion Concepts and they are familiar with their conversions on some cars but not the Fiero. I have the dealer sticker indicating that the total cost to drive one off of the lot was 1.8x the base model price. Unfortunately I have very little else other than 2 bills of sale from previous owners.

If any one can chime in on their declared value policies on a Fiero Converson Concepts car I would really appreciate it.

Thanks;
Rolland
IP: Logged
hnthomps
Member
Posts: 5728
From: Columbia, SC
Registered: Jul 2003


Feedback score:    (18)
Leave feedback





Total ratings: 51
Rate this member

Report this Post08-04-2021 08:29 AM Click Here to See the Profile for hnthompsSend a Private Message to hnthompsEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 87convert:

I carry declared value classic policies for my collectible cars. I am currently negotiating with Haggerty ( who insures 3 of my clasics) on how to declare a value for a coach built, low production number car, namely my 87 convertible built by Conversions Concepts. These policies pay up to the declared value for repairs or replacement of the vehicle. Since these cars are so rare Haggerty does not have any information about them Even auctions have turned up very little. I have provided them with documentation about Conversion Concepts and they are familiar with their conversions on some cars but not the Fiero. I have the dealer sticker indicating that the total cost to drive one off of the lot was 1.8x the base model price. Unfortunately I have very little else other than 2 bills of sale from previous owners.

If any one can chime in on their declared value policies on a Fiero Converson Concepts car I would really appreciate it.

Thanks;
Rolland


I have also used a Declared/Agreed Upon Value to insure some of my cars with Haggerty. All of them are Pontiac Meras with some modifications (mainly engine). All I had to do was pick a number and take some photos and they insured it for $50K with no additional questions.

Pick a value that you are comfortable with and submit it to the insurance company. Do not be surprised if they accept your value since their premium quote will be based on the value assigned.

Nelson

IP: Logged
David Hambleton
Member
Posts: 1580
From: Stoney Creek Ontario Canada
Registered: Nov 2012


Feedback score: N/A
Leave feedback

Rate this member

Report this Post08-04-2021 08:57 AM Click Here to See the Profile for David HambletonSend a Private Message to David HambletonEdit/Delete MessageReply w/QuoteDirect Link to This Post
A local guy had two very well done convertibles a few years ago that were insured for about $40,000 each, and he paid insurance premiums commensurate with the appraisals.
He traded them in on a Jeep, and they were on sales sites for a few years languishing around $12,000 each.
IP: Logged
Mark A. Klein
Member
Posts: 608
From: Pleasantville IA
Registered: Aug 2002


Feedback score: N/A
Leave feedback

Rate this member

Report this Post08-07-2021 11:01 PM Click Here to See the Profile for Mark A. KleinSend a Private Message to Mark A. KleinEdit/Delete MessageReply w/QuoteDirect Link to This Post
Didn't the Factory convertible only sell for around $12,000 when GM sold it at Hagerty's? I would pay $18,000 - $20,000 for THAT car. I even sat in it once. But realistically it is worth $7000 - $12,000 depending on condition and mileage.
IP: Logged
PFF
System Bot
Patrick
Member
Posts: 36248
From: Vancouver, British Columbia, Canada
Registered: Apr 99


Feedback score: (1)
Leave feedback





Total ratings: 458
Rate this member

Report this Post08-07-2021 11:50 PM Click Here to See the Profile for PatrickSend a Private Message to PatrickEdit/Delete MessageReply w/QuoteDirect Link to This Post
 
quote
Originally posted by 87convert:

Unfortunately I lost all of my pictures in a recent hard drive crash. I searched here and could not find a picture of it.


Is this your '87?



IP: Logged
87convert
Member
Posts: 539
From: Mesa, Az USA
Registered: Jun 2003


Feedback score: (2)
Leave feedback

Rate this member

Report this Post08-08-2021 12:48 PM Click Here to See the Profile for 87convertSend a Private Message to 87convertEdit/Delete MessageReply w/QuoteDirect Link to This Post
Yup that is it. Ono of the BOPCGMC shows in Scottsdale in years past.

Rolland
IP: Logged

next newest topic | next oldest topic

All times are ET (US)

Post New Topic  Post A Reply
Hop to:

Contact Us | Back To Main Page

Advertizing on PFF | Fiero Parts Vendors
PFF Merchandise | Fiero Gallery | Ogre's Cave
Real-Time Chat | Fiero Related Auctions on eBay



Copyright (c) 1999, C. Pennock