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post #4 of (permalink) Old 05-18-2019, 06:32 AM Thread Starter
IRONBLOCK
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Join Date: Feb 2008
Location: Georgia
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Yes SOLD for 120K -according to BidFax. I just heard Sam Crac say that repaired exotics with a salvage title typically lose only about 20% of their resale value -compared with about 50% for more pedestrian vehicles. This car really did not look all that bad but it is hard to tell if any work has been done on a car to make the damage appear to be less than it really is. Here is a good example of what to watch out for -on this ACR Viper:


My second Alfa Romeo S2 spider had a salvage title. I ended up trading it for my 1966 Duetto back in 1984! So I am not opposed to buying a car with a salvage title.

The insurance company has an obligation to return a car to it's original, pre-collision condition. While damaged, it does not look (from the photos) like it would take anything close to 250K to repair the damage. The Copart listing showed an estimated value of $337,840 and that repair costs were estimated to be 252,808. My suspicion was that the insurance companies estimated value for the 'wreck' was 85,032. If that is the case, perhaps they came out better than they expected. Once repaired the owner would probably sue the insurance company for diminished value. It seems that for most body shops, an estimate is just a starting point. Perhaps the insurance company just wanted to 'off' the car to avoid a long series of checks and potential law suits.

The engine would start and run but I was interested in the complete package. It concerned me that the car was on wheel dollies and makes me think there may be damage to the transmission, since the car could not be rolled around on it's own tires and wheels. Years from now, when an 8C is worth a fortune; I'll have a story to tell about the one that I could have bought for only 120K. Perhaps I'll write a book about the Cobra in a box that I could have bought for 18K. Today that car, a 289 Cobra 'Team' car that raced at the '24 hours of Le mans' with Ford sponsorship is probably worth +5M. The chairs and flares 246 GTS Dino could be had for 63K when I looked at it. Almost overnight they went to 300K, then 400...I suspect this will be another one of those -'shoulda, coulda, woulda' cars.

Mark
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