Help with valuation / any experts?
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
Help with valuation / any experts?
My insurance company is offering me $10K for my totaled 2006 AMG Wagon. (one owner, no mods, almost never even in the rain, 75K miles....). I ran the auction results for 2005 / 2006 / 2007 wagons on Bringatrailer to get a decent 14 month sampling. Average miles was 66K, but average auction closure was $33K.
I refused their first offer, then sent them the data. The responded with same offer, and said "we don't consider auction sites". (Convenient) and said they based their valuation on calling 2 local MB dealers and talking to sales. (Seriously) because they could not find ANY transactions in their normal channels.
I've responded back that Bringatrailer is the accurate marketplace for these enthusiast cars. I'll likely have to have an independent appraiser - but - are their any dealers that specialize in this market? I know with our Vipers, we could go to Woodhouse, or Viper Exchange to get recognized experts in that speciality market, or some of the parts businesses that cater to the enthusiasts to help provide valuation details as an "expert".
Do we have any of those specific to these supercharged cars?
Thanks in advance. I hate insurance companies - especially since I was 100% in the right and minding my own damn business.
I refused their first offer, then sent them the data. The responded with same offer, and said "we don't consider auction sites". (Convenient) and said they based their valuation on calling 2 local MB dealers and talking to sales. (Seriously) because they could not find ANY transactions in their normal channels.
I've responded back that Bringatrailer is the accurate marketplace for these enthusiast cars. I'll likely have to have an independent appraiser - but - are their any dealers that specialize in this market? I know with our Vipers, we could go to Woodhouse, or Viper Exchange to get recognized experts in that speciality market, or some of the parts businesses that cater to the enthusiasts to help provide valuation details as an "expert".
Do we have any of those specific to these supercharged cars?
Thanks in advance. I hate insurance companies - especially since I was 100% in the right and minding my own damn business.
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2005 E55 AMG
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
There is a form you can fill out with the Year, Make, Model of your vehicle and they will get back to you. That or you might just try calling them. You could also try Grundy as well: https://www.grundy.com/
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From: America
1999 C43 AMG, 2005 E55 Wagon
This happened when we totaled my 99 C43 AMG. First offer from insurance was $1,700...
I escalated and held firm and they eventually came back with $6k, which was enough to fund the repairs so I walked.
But it's a whole new level with the wagon. I'm expecting to get shafted if I total it. Best of luck to you. Again, hope the car doesn't get scrapped or stripped for parts. It can be saved.
I escalated and held firm and they eventually came back with $6k, which was enough to fund the repairs so I walked.
But it's a whole new level with the wagon. I'm expecting to get shafted if I total it. Best of luck to you. Again, hope the car doesn't get scrapped or stripped for parts. It can be saved.
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
It's totaled - they are taking it. Hopefully someone buys it and rebuilds.
I have a plan - independent appraiser of my choice and then, if not satisfied - I'll go to the insurance commissioner. I am simply asking for the amount to make me whole. - pre-accident that was NOT MY FAULT. They may not like it - but these cars are selling for about $30K.
Will keep ya'll posted. And if the car goes for auction - where it is.
I have a plan - independent appraiser of my choice and then, if not satisfied - I'll go to the insurance commissioner. I am simply asking for the amount to make me whole. - pre-accident that was NOT MY FAULT. They may not like it - but these cars are selling for about $30K.
Will keep ya'll posted. And if the car goes for auction - where it is.
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From: Snohomish Co.
E55 AMG
I think your back, and neck are really painful lately. Just from reading your posts, I feel that the headaches, and blurred vision is getting worse. Do you get dizzy when you stand up? I thought so. 
Kelly Blue at $17,300-18,335 in the northwest.
Kelly Blue at $17,300-18,335 in the northwest.
Last edited by Bankroll; Dec 20, 2019 at 09:16 PM.
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From: America
1999 C43 AMG, 2005 E55 Wagon
Totaled means they take it, yes. And then they immediately offer to sell it back to you at an extreme discount.
In my 99 C43 example, they offered me $6k payout. They offered to sell me the car back for $300. So I bought it back. I spent 5k fixing it.
They will offer to sell you the E55 wagon back for pennies. If you do so, you'll turn a profit selling it to some shop or Youtube channel who will happily save it.
In my 99 C43 example, they offered me $6k payout. They offered to sell me the car back for $300. So I bought it back. I spent 5k fixing it.
They will offer to sell you the E55 wagon back for pennies. If you do so, you'll turn a profit selling it to some shop or Youtube channel who will happily save it.
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2003 e55 AMG
On a 13 year old car, you’re probably stuck. In terms of actuarial book value, a 13 year old car is still a 13 year old car. They don’t care about what “market” values are for these wagons. Given the cost of the OEM aluminum body panel repairs, it’s clearly cheaper for them to total it and cut their losses. They ain’t spending big bucks repairing a 13 year old car using required new OEM aluminum panels.
The car I just bought this week is a mint 2003 e55 sedan with 72K miles. Has a rebuilt title because a year ago, a truck backed into it at 3 mph in a parking lot and crumpled the corner of the hood and front part of fender. Thats it. Parking lot fender bender. Car was totaled out and branded with a salvage title.
Luckily for me, the rebuilt title badge of shame significantly dropped the market value of the car. Like a big scarlet letter. But the repaired car is dang near perfect inside and out.
I’m curious what type and to what extent damage your car has sustained.
The car I just bought this week is a mint 2003 e55 sedan with 72K miles. Has a rebuilt title because a year ago, a truck backed into it at 3 mph in a parking lot and crumpled the corner of the hood and front part of fender. Thats it. Parking lot fender bender. Car was totaled out and branded with a salvage title.
Luckily for me, the rebuilt title badge of shame significantly dropped the market value of the car. Like a big scarlet letter. But the repaired car is dang near perfect inside and out.
I’m curious what type and to what extent damage your car has sustained.
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From: DownEast Maine
CLS 55 AMG E500 ML320
When the moose totaled mine, they based the value on what they sold for recently in my area. Since it's a rare car, the local area expanded until they found some. Since yours is even more rare, they will have to search farther away. I think it's the law from what they told me at the time.
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
What at they think it's worth is irrelevant. I should be made whole from where I was pre-accident. That concept is the guiding principle on insurance. And if they can't bring my car back (repair), then they need to either find me a replacement or give me enough money so that I could replace it with a similar car. We'll see how it goes. Waiting on response from Hagerty, and thanks for the KBB tip.
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2003 e55 AMG
Unfortunately, they’re viewpoint on the situation is the inverse of your’s. They think what YOUR notion of the car’s worth is irrelevant. They are in the business of making money, not spending it. Please don’t feel as though I am being disparaging of you. I’m just objectively saying what I presume is the most likely situation.
Regardless of what you think your car is “worth”, there is an actuarial book value on it based on its age. It is practically impossible to place an arbitrary value on a car based on what is deemed “collector” value with standard insurance. Can you imagine the chaos it would create with the subjectiveness of it all.
This is why collector insurance is different, and why you can basically set whatever agreed upon value you want, and the premium then reflects that. But then the caveat becomes that you can only drive it so many miles, you can’t drive it to work or for errands, it has to be garaged, etc.
It’s frustrating because you can’t replace your car. I get it. But the reality is that it is a 13 year old car, just like any other 13 year old car. At least from the perspective of the insurance company.
There’s an old Greek saying my dad used to always tell me which loosely translates into: “The owl thinks her kids are the most beautiful in the forest”.
From the insurance company’s perspective, you’re the owl. Sorry for your misfortune. As fellow car enthusiasts, we feel your pain. Good luck and best wishes on any recourse.
Regardless of what you think your car is “worth”, there is an actuarial book value on it based on its age. It is practically impossible to place an arbitrary value on a car based on what is deemed “collector” value with standard insurance. Can you imagine the chaos it would create with the subjectiveness of it all.
This is why collector insurance is different, and why you can basically set whatever agreed upon value you want, and the premium then reflects that. But then the caveat becomes that you can only drive it so many miles, you can’t drive it to work or for errands, it has to be garaged, etc.
It’s frustrating because you can’t replace your car. I get it. But the reality is that it is a 13 year old car, just like any other 13 year old car. At least from the perspective of the insurance company.
There’s an old Greek saying my dad used to always tell me which loosely translates into: “The owl thinks her kids are the most beautiful in the forest”.
From the insurance company’s perspective, you’re the owl. Sorry for your misfortune. As fellow car enthusiasts, we feel your pain. Good luck and best wishes on any recourse.
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
agree that this isn't about emotion - but it is about making me whole. The problem with the cars is that there are so few, valuation is a challenge. I would content that sales are the rate measure of value - not my sentiment. I totally get that everyone thinks "their xyz " is worth more than it is. I am simply basing my valuation on completed sales of like vehicles in the recent months. Not my feelings.
We'll see what we end up with. The car is rare, and I have stated value on other vehicles -but I don't think I need stated value / collector car insurance on a $25K - $30K car. There's a car for sale right now that is already at $24,500 with similar miles, more interior wear and fairly modified (which I consider a detractor). So - I think the replacement cost bears out in the market. Additionally, I was not at fault.
We'll see what we end up with. The car is rare, and I have stated value on other vehicles -but I don't think I need stated value / collector car insurance on a $25K - $30K car. There's a car for sale right now that is already at $24,500 with similar miles, more interior wear and fairly modified (which I consider a detractor). So - I think the replacement cost bears out in the market. Additionally, I was not at fault.
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From: Rutherfordton, NC
2005 E55 2005 E500 4Matic
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shrimp boat
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2006 E55 Wagon (RIP), 2019 E63S Wagon (Sold) 2023 AMG GT634S
Should arrive before New Years....
