PFF - Pennock's Fiero Forum, PDA Edition

Valuing a 1987 convertible (Page 1/2)

87convert

JUL 27, 09:58 PM

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

Dennis LaGrua

JUL 28, 06:07 AM

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 "

2.5

JUL 28, 11:25 AM

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.

87convert

JUL 28, 01:24 PM

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

Dennis LaGrua

JUL 30, 10:39 AM

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.

87convert

JUL 30, 03:21 PM

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

Australian

AUG 02, 04:37 AM

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.

87convert

AUG 02, 09:22 PM

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

hnthomps

AUG 04, 08:29 AM

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

David Hambleton

AUG 04, 08:57 AM

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.