Ferrari Mailing List: Re: Thoughts on diminished value

[Brian E. Buxton (BrianBuxton]

Until you get into $2-10,000 cars diminished value is a real thing and is recognized by insurance co's.  Usually 10-20% of the current resale value of the car is what is considered fair.  Low mileage / rarity / collectability / etc. can raise this percentage.  Calling the Spur a VW Phaeton dismisses the value.  The frame is a shared platform, but the engine, trans, brakes, suspension etc. is totally different.  And VW Phaeton's trade for under $10K.  Go find a Spur for that price with any mileage.  Same applies to Rolls Royce Ghosts and BMW 7-series.  Same applies to Escalades and Tahoe's - same chassis but the Escalade used different parts and is worth a lot more on the market.

Brian E. Buxton
Buxton Motorsports, Inc. | 301 North Royal Ave. | Buxton Plaza | Evansville, IN 47715-2866
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President, Brian Buxton Enterprises, Inc.
Nationwide Enclosed Auto Transportation

Founder & Past President
So. IN Region Porsche Club of America

On 1/12/17 7:02 PM, Erik Nielsen wrote:

It's a used VW Phaeton with the exclusive trim. It's just a used car.

Erik

Sent from my iPad

On Jan 12, 2017, at 1:43 PM, scott saidel <scott_saidel [at] hotmail.com> wrote:

Sort of a follow up to the carfax request.  

Client was sideswiped in a 2006 flying spur.  Required replacement of bumper cover and fender. Paint from nose to drivers side door. 

So, since I have the brain trust - looking to see if there is a valid basis for a diminished value claim.   Seems to me that at 50k miles and 10 years the cars is close to the bottom of its value range - limiting the value of the DV claim. 

Would appreciate your thoughts 

Thank you in advance 

Scottie

Sent from my iPhone
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