'52 M38 Valuation

redvettemike · Post by **redvettemike** » Fri Jun 15, 2018 12:53 pm

We are working on a '52 Military Jeep. We need a valuation estimate for insurance purposes. I have not yet learned how to post photos on this site so no photos as of now. This Jeep is showing 19000+/- miles. It is really nice. cleaned up really well. We feel we will it running this next week. It is basically as produced, 66 years later. Original paint, it has basically no rust issues. All gauges are there. It was driving and when last put up maybe 5-7 years ago. Needs seat covers and tires (has the spare), new front glass. It has been kept under cover for most of it's life and that shows. It is a nice, nice Jeep. New paint would be nice but the original looks pretty good. Has a new gas tank but needs filter and sender. Has what I think is a military trailer hitch and front drawbar-also a military type (we think). Has a incorrect winch but we think had a Ramsey winch set up.
I have no idea what these military Jeeps are selling for. Serial number is MC55893. Thanks for any valuation thoughts. Mike

mdainsd · Post by **mdainsd** » Fri Jun 15, 2018 1:48 pm

photos are almost a must to be able to offer accurate estimates.

Is it still all 24V system, this makes a difference.

Post by **wesk** » Fri Jun 15, 2018 2:00 pm

Mike has the survey form I sent him. 70% of the retail value can be determined from the survey when he completes it. Pictures are an absolute requirement for any estimate of value as are running & driving performance numbers. Just what has been described could be anywhere from $4500 to $10,000. The truth is in the details. Most of the questions on ID of the jeep & it's equipment posted can be answered by reviewing all my related photo albums.

RonD2 · Post by **RonD2** » Fri Jun 15, 2018 2:21 pm

Hi Mike,
In my experience with this "hobby", my regular auto policy company didn't want to touch my 65 year old M38 with anything more than liability insurance, and they pushed back real hard not to do that. It doesn't fit their mold for property damage comprehensive coverage, I think because if it got in a wreck no body shop would take it, even if they could get parts for it. They'd insure it only if I used it strictly for car shows, parades, and the like. No general purpose driving to get coffee with the geezers for the pure enjoyment of it would be allowed. I didn't want to be restricted like that so they referred me to one of the classic, vintage, antique auto insurance carriers, and after researching this forum and others I settled on Hagarty, a pretty decent outfit.

Hagarty let me name my own value, no questions asked. And no restrictions on where, when, or how I drive it, just like a regular car. The premium is based on the value I gave them, more value = more premium. And the difference in premium between $8,000 to $10,000 (for example) wasn't much. I think it's very reasonable. Thankfully I haven't had any accidents to see how it would really work, but they're highly rated in the classic car insurance business.

If you get the same problem I have, it'll be the day you realize that sell it or wreck it, you'll never be able to get as much money out of it as you've put into it!

Good luck!

redvettemike · Post by **redvettemike** » Sat Jun 16, 2018 6:09 am

mdainsd wrote:photos are almost a must to be able to offer accurate estimates.

Is it still all 24V system, this makes a difference.

24V system is still in place. I am going to fill out the questionnaire and try to get my more computer capable gear head friend to help me with this photo posting. The deceased owner put it in his will that the oldest male sibling would inherit the Jeep. But only with the provision that the Jeep would always be under cover. They have done that since 2001 and that is why the vehicle is as nice as it is. Ownership is now passing to a grandson.

By the way there were some extra parts in the Jeep. The owners want me to help them sell them. 3 generator/regulators (one is new); 2 used distributors, 5 carbs (one new), two speedometers (one appears new with 0 miles).

The owners have gone to Hagerty and when ownership/title are straight Hagerty says they will insure.

Tks for the advice.
Mike

kenperkins · Post by **kenperkins** » Sat Jun 16, 2018 7:10 am

some of your spare parts could be quite valueable...know what you have before parting with them

redvettemike · Post by **redvettemike** » Sat Jun 16, 2018 7:52 am

kenperkins wrote:some of your spare parts could be quite valueable...know what you have before parting with them

Tks. I'll post some photos (when I learn how to do that.) I'll not part with any of these items before knowing some idea of their value.
Mike

radtech · Post by **radtech** » Sat Jun 16, 2018 2:53 pm

Parts being valuable,and getting that price for them is a different story unless you have years to wait for someone to come along that will pay your price.Most M38 parts are not that valuable unless thye are prototype parts for the first 6 prototypes.