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Discussion Starter #1
Hello BB,

I am hoping to get one last Alfa for my collection. I may have an opportunity to purchase one with 19,000 miles, original condition, no rust, runs perfect and is a CA car. The owner wants $7,500.00. I have not looked at the car yet to see if this is really the situation. Does this sound like a reasonable price? It is cream exterior with black interior. I will repaint to silver and most likely restore to stock condition.
 

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It sounds like a time warp, and if so, it's cheap... I would bet that if he took it to an auction he would easily double his asking price...

Best regards,
 

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Discussion Starter #3
78 Spyder

Most likely I am missing something. I did not go look at it yet since it is not close to my home. I think the price is fair for a 1978. I don't think its worth more than $7,500 since anyone with $ will go for a series 1 if they are going to restore it. JMO.:)
 

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I don't think you are necessarily missing anything... Prices of Spiders are always all over the map, so you are right in evaluating this car on it's own merits. Just for fun, I did a quick internet search to see if there was anything that could serve as a gauge... I haven't bought a SCM guide in a while so I just took a stab and I found these NADA guides for classics. I haven't seen one of these in ages, and I don't really place that much weight on guides anyway, but for the sake of curiosity and to get someone else's perspective, have a look at what I found: 1978 Alfa Romeo 2000 Spider Veloce 2 Door Convertible price report at NADAguides.com

I did not enter any options or mileage, and of course without seeing the car one can't really tell if the description "one with 19,000 miles, original condition, no rust, runs perfect and is a CA car" is a fair portrayal. (I did take this description to mean that, if accurate, it would be a car that is more on the rare and high-end of the spectrum.)

Now, if you do buy this car, I do expect you to post pics! :)

Best regards,
 

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Discussion Starter #5
1978 Spyder

Thanks for the additional information. I am actively looking for a 78 spyder but in no rush. I am still playing with my other project to complete the fine details. I will definately post pictures of the spyder but I don't think I am going to post the restoration process this time around. :)
 

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... but I don't think I am going to post the restoration process this time around. :)
I hear you, and understand... I followed the thread on your other project with great interest and enjoyed every update. I'm sure this project will be just as special. I've been a big fan of the Spiders for pretty much forever, so I'll certainly appreciate anything you choose to post.

Best regards,
 

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I think I need to increase the insurance on mine...

Hmm....interesting. Now that my 1978 is fully restored, maybe I need to increase the insurance? Do you guys really think a nice one is worth as much as $15,000 (twice the asking price someone mentioned)? That link someone posted shows over $13,000 at the high end. I would have guessed mine is worth in the $6,000 to $7,500 range. I have it insured for $7,500. Here are some pictures of the car, for reference.... It has 97,000 miles on it. Engine rebuilt less than 400 miles ago. Runs beautifully. Obviously, there's a difference between 19,000 miles and 97,000 miles--but maybe that one really has 119,000 miles? :)

Thanks for opinions

Colin
Chocolate Brown 1978 Spider
 

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A fully restored Spider will easily fetch over $7500. The series 2b Spiders ('75-'78), with the smog pump and black rubber bumpers do lag behind in prices to the other Spiders, but they are still every bit a Spider. It is expensive to restore any Spider, and one never recovers the total amount of the restoration cost, but $7500 will not replace your car. The guides are for nice drivers, and if I were you, I would insure it for at least the top of the buying guide figure. If your car is in exceptional condition, then I would increase its replacement value beyond what the guide suggests.

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Colin:

I would insure it for what you have in it. I wouldn't go below $10k. And I wouldn't go above my total investment to bring it to that condition. For example....my 78 is insured for $18k. And if I followed my own advice, I should probably raise it some more. Look at the situation as if the car was totaled. What would it take to make you whole financially? I think when you sit down and add it all up, you'll be surprised with just how much you likely have in the car already.

Best Regards,
John M
 

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Thanks for the advice guys. I figure I've spent about $8,150 in the past year just for the restoration (new paint, engine rebulid, new carpets). Insured at $7,500 is probably too low. I think I'll go call Hagerty....

Colin

[Edit: Just upped the coverage. Thanks guys.]
 

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I have mine with Hagerty for more than $12K and it is no where near as nice as yours...(sure hope she did not hear THAT)
 
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