Appraising a Harley Davidson

Discussion in 'General Harley Davidson Topic' started by Randall K. Wilson, Oct 4, 2008.

  1. Randall K. Wilson

    Randall K. Wilson Junior Member

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    I met a gent today at the Harley shop who is a "Professional Motorcycle Appraiser". He does not work at the Harley shop, he was there to meet a future client. This gent says he has been performing this service since 1969. He was at the dealer to meet a man who had just bought a custom chopper. Hence he was going to appraise it. Cost for this service $150.00

    I told him that I have not had my Harley appraised. He took a glance at my bike and said..."if it ever gets stolen...you will be crying the blues."

    I will admit...I am ignorant about the details of my insurance policy...:dknow

    According to him he has appraised bike that were valued at $80,000.00 That was the most expensive one that he has appraised and many at 50K

    As I hung around the shop the gent finally showed up to have his chopper appraised. The appraiser spent about an hour carefully looking at the bike and writing down all kinds of details about it on a tablet. I assume to go back to his office and type up the official appraisal. However...oddly I don't think he took a photo of the bike...which kind of surprised me?

    Is there anyone in our lovely forum that has had their Harley appraised? If so has it paid off in the long run?:newsmile093: Do you recommend such a gesture?

    Please respond.
     
  2. Dr. Dolittle

    Dr. Dolittle Experienced Member Staff Member Moderator Contributor

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    I have not but it seems like if you keep meticulous records of all accessories and modifications along with pictures, this would accomplish the same thing for a lot less than $150. Not sure how insurance companies look at this. Looking forward to seeing other replies.
     
  3. Tigg

    Tigg Junior Member

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    In my opinion getting your modern Harley appraised is like paying someone tor read the kelly bluebook to you. The shop will only give you what they want on a trade in. Take the bluebook value add how much you put into in goodies and thats what it is insured for essentialy what would it cost to replace. as your bike ages it depreciates so you don't want to insure a 2000 RK for the same ammount as a 2009 with the same add ons. Apprasials are more for things like if you would be a lucky stiff and have something like a mint condition 1960 Panhead :32:. I can't think anymore I have the image of that pan in my head .
     
  4. glider

    glider Veteran Member

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    I agree with Tigg here. Appraisal of the newer bikes is a waste of money. Retain your chrome and add on receipts and insure it for it's worth and then go ride it. Most insurance policies cover a specific amount of accessories over and above the bike itself. If you are over that amount, check with your insurance company for additional coverage.

    Any trade ins are only going to get wholesale price regardless of the extras so remove what you can and sell it separately. If a dealer offers you more for the extras, don't be fooled by this, they will make it up elsewhere on the sale of the new bike.
     
  5. DDogg

    DDogg Junior Member

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    I also agree. Keep all receipts and take a picture if the accessorie(s) warrant it. If you've got 10 grand into the bike, your insurance company better know it. Appraisal of your Harley is impossible. What's it worth to you. That's the appraisal.
     
  6. DDogg

    DDogg Junior Member

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    Oh I agree Smitty901. What I was refering to is the Bike's worth. And if it's worth 10 grand more, then YES, you insure the bike for 10 grand more. Would it be appraised that way? That's what I was getting at.
     
  7. whatyardwork

    whatyardwork Banned

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    When buying a "custom" chopper or any other custom vehicle an appraisal such as the one you described is essential.There is no book value available or base price to go on in the event of a loss.
    For the rest of us average Joe's its pretty much useless.Harleys have book values as a baseline value and insurance companies have there own appraisers who will be the ones assesing your bikes worth in the event of a loss.The best thing you can do after adding the extras is notify your insurance company and ask for a pre insurance inspection.They will tell you its not required if you already have a policy or are purchasing a new vehicle.Simply state that you would feel more comfortable having this done.
    A pre insurance inspection is free in most states and is used by insurers when a policy is purchased for a used vehicle requiring full coverage.They use this to get out of paying for pre existing damage on older vehicles as well as document vehicles in perfect condition with "additional equiptment".Have photo copies of your reciepts ready,make sure they write your add ons down.A couple of pictures and youre done.They get a copy, you get a copy and the indipendent inspection sight retains a copy.Also, keep in mind you wont find the words "Book Value" in any policy I have read and if you do it will be followed by "to be used as a guide".My policy clearly states replacement value.This means if the book says your scoot is worth $8000.00 and the best 3 adds for a similar bike for sale are at $10500.00.Replacement value becomes $10500.00.I currently have my friends totaled 99 Dyna sitting in my barn.She is recieving a check for $10800.00.
     
  8. Randall K. Wilson

    Randall K. Wilson Junior Member

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    I know a gent who has a couple of basic Harleys. He went through a divorce and had to get his cycles appraised. Hence, an appraisal must account for something.

    Oh, he still has the 2 cycles..and a new wife to boot. A happy gent he is today.
     
  9. cdn-bigfoot

    cdn-bigfoot Junior Member

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    In this particular situation you find someone to appraise the 2 bikes at about $1000 each!
    She gets the sewing machine and the Hoover... call it even!
     
  10. Randall K. Wilson

    Randall K. Wilson Junior Member

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    Your dream'in...it ain't gonna happen. Don't know from experience, but I have heard all the horror stories...