Sadly, I'm the former owner of an Orient Blue 2004 330CiC ZHP convertible, may she rest in peace. I was the second owner, acquiring it in April 2007. The first owner leased it for2 years 10 months & about 30k miles. It had not been abused.
It was a joy to drive. Twisty roads like the Back of the Dragon, Devil's Backbone, or Spearfish Canyon and numerous 2800+ mile cross-country trips for another 156k miles. I was planning on keeping it until... Friday night before New Year's an inattentive driver ran into the back end while I was stopped in a line of traffic waiting for a red light to change. Pushed me into the car in front & hit me at least twice before he gave up all his momentum!
I turned down the insurance company's first offer which was $8287. With the repair estimate of about $7400 an automatic total loss.
I came up with a group of eight "comparables". None were a complete match but a closer start than Audatex had used. Throwing out the overly ambitious high of $49K+ and the low, averaging the remaining six gave an average price of $14,300. I gave all of this to the insurance company along with side-by-side build list comparisons pulled from BMWVIN.com
The insurance company had an independent appraiser take a second look and magically came up with $10,900. Just over the 75% repair-to-value threshold for it not to be a total. But with electrical & mechanical unknowns not covered by the estimate, even if they came up several thousand, it's still a total.
I really don't believe in coincidences. Plus, none of the "comparables" they used had the "high performance" option, much less the rest of the package! I have VINs and side-by-side comparisons for all but one "comparable" used in both valuations. Mine had all the extras except nav & CD changer. High Performance package including engine mods & ZHP only exhaust system, Premium package (leather, Harman Kardon sound system), Cold Weather package (heated seats & mirrors, headlight washers), Hot Climate option, M sport suspension mods, M series aero package, M sport steering wheel, adaptive self-leveling Xenon headlights, big wide staggered 18 inch option M series alloy wheels & new Michelin tires, speed sensitive power steering.... I wasn't going to race it and bought it BECAUSE it had everything that an M3 had except the big engine. It was my daily driver & I even WANTED the automatic transmission for Atlanta, Phoenix, Washington DC type traffic! Comfortable! Handled great!! Quicker than it needed to be for streets or open roads!!!
It was well maintained and that's documented in the Carfax report pulled by the appraiser. Almost all of the maintenance and repairs were documented there. I have all the records from my ownership period.
There was no consideration in either appraisal that it was one of the few (hundred??) 2004 ZHP convertibles built. Rare and getting rarer by the day! They did add a bit for the "performance" option as if you could add that to a generic 330 convertible and turn it into a ZHP.
Should I pretend I'm happy with their check for $10,900 plus taxes or get another appraisal? I've already cashed the check but have reserved the right to have my own appraisal. I have until March 15th to get it done if I go that route. I used up some time acquiring something to drive.
If the consensus is that it's worth spending $$ on my own appraisal, any recommendations on an appraiser familiar with ZHPs, likely to have a higher opinion of what they are really worth, and willing to work with the insurance company's independent appraiser?
Any and all help appreciated!!
BTW, I enjoyed the ZHP is nothing special video!
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Originally Posted by slater
