Thinking of Selling. Advice?

[bbulkley]

About 7 years ago I bought my dad's old 911 from him. I always loved the car and I wanted to keep it in the family. He bought it new, drove it for a few years, and since then it sat mostly unused. With 911 values going up like they have, I'm no longer comfortable driving the car, which means it sits in my garage untouched (other than the regular drive around the block to keep everything moving). That makes the car an investment, and I'm tempted to sell and diversify.

It's a 1973 911S Targa with 43k miles. It's not all original, but it is very well kept. It had a bare metal respray in the 90's, I replaced the muffler when I bought it (my father had the rest of the exhaust replaced with stainless steel when he bought it), and the hood emblem and targa top material were replaced in the 80's. I also replaced some worn items: shocks, firewall insulation, tires. My dad had the car lowered when new to European spec. Otherwise the car is as-delivered (which means it has a silly dealer installed stereo). It's never been in an accident, there are no scratches on the current paint, and I can't see any evidence of rust. The glass is all perfect. I have all the documentation, service records, original window sticker, and a bunch of other stuff. The spare is even an original tire (used).

I love the car, but I just can't risk driving it now. I don't know what it's worth, although my best guess is around 100k. The first step would obviously be a proper appraisal. Before I do that though, I just thought I'd see if anyone has any advice. What would you do? I don't necessarily need the money, but it's not a small amount to me either. I'm pretty torn at the moment.

[pu911rsr]

I'd say keep unless you have a pressing need for $$$. Given the current rate of appreciation - there aren't any better places to have money right now. You get a ton inquiries to sell based on this ad. If you sell you can't ever replace. Drive the damn thing it's a car.
Phil

[Christian Guthrie]

Use the Hagerty Valuation Tool, insure it through Hagerty and drive it. If something happens to it, you're covered.

[jaudette3]

I'd say keep unless you have a pressing need for $$$. Given the current rate of appreciation - there aren't any better places to have money right now. You get a ton inquiries to sell based on this ad. If you sell you can't ever replace. Drive the damn thing it's a car.
Phil

Totally agree.

John

[bbulkley]

Drive the damn thing it's a car.
Phil

I hear you - I just have this overriding fear that someone will plow into me, and then I have a 1 accident car that's worth a lot less. Sure, Hagerty will pay for repairs, but if it's not totaled they don't pay for diminished value.

But yes, I feel bad that I don't drive it. Love the car.

[bbulkley]

Use the Hagerty Valuation Tool, insure it through Hagerty and drive it. If something happens to it, you're covered.

Hypothetically, wouldn't it be worth less if I had some repairs done? Maybe I'm wrong about that. If so, it would be a relief. It's insured through Hagerty and I'd be happy to drive it if I knew I was really protected.

[Rookie_912]

Keep it even if you do not drive it. You can't diversify anything better than a Porsche especially if you do not need the money. I am sure by now you have been PMed like crazy for pictures and what not but your initial guess on $ might even be lower if what you describe is true. Original owner minimal modification 73 911S Targa in the condition describe above in today's market can fetch 100K+ especially with all the documentation. You will not be able to buy another one again. My $0.02 but I would be wrong. Everyone here would love to see a picture though.

[beh911]

Sounds like you need to sell it, if all you are worried about is 'value'

[Rookie_912]

BTW did you get my PM? Heheheheh.... ;-P

[CidTito]

Hypothetically, wouldn't it be worth less if I had some repairs done? Maybe I'm wrong about that. If so, it would be a relief. It's insured through Hagerty and I'd be happy to drive it if I knew I was really protected.

I too would just drive it.... technically its a car, and then there is the possibility that nothing will happen to it.

key things I worry about my targa

- where i park it
- weather, avoid leaving it in rain, don't drive in snow, don't drive in scorching sun, avoid salty air, don't drive in fog, ...blah blah... j/k
- make sure that it is always mechanically in sound condition
- keep it insured - with enough value to make sure it cannot be easily totaled.

Hagerty Vintage Policy has some rules that won't apply to everyone....
- The vintage 911 has to be a second car (You must insure a primary car listing you as the main driver)
- This its parked in garage you privately own, cannot be a common garage even if there is a guard that knows your car.
- good clean record.

I live in an urban environment, and I don't qualify for 1 or 2. So I insure through Geico that then has their "favorite" body shops that guarantees their work forever. You can easily option to take your car to where Hagerty suggests repair as well.