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Thread: Salvage Value

  1. #1
    apriliaforum expert MamboItaliono's Avatar
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    Salvage Value

    I am anticipating my motorcycle being salvaged

    The bike is important to me for sentimental reasons, I got it from my brother (not Aprilia, 2012 BMW S1000RR)

    I want to buy it back, I am familiar with the crap-shoot of total loss valuations, but does anyone know how to ballpark salvage value?

    Any help would be appreciated
    Thanks!!!!

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  2. #2
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    Really depends on level of damage.

    This salvage auction site could give you some insight (this one is non-repairable and current bid when I looked was $375):
    https://www.salvagebikesauction.com/...anon-Tennessee

  3. #3
    apriliaforum expert MamboItaliono's Avatar
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    Almost no damage. Which is kinda what I'm afraid of, that the buy-back could be nearly as much as the total-loss amount

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  4. #4
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    The auction site lists the cash value of a 2012 BMW S1000RR at $19,128. How did what appears to be just cosmetic damage to the exhaust get up to over half the value of the bike? Is there something that the picture does not show or is the auction site listing the original MSRP and not the current value?

  5. #5
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    Did you ask them about not totalling the bike? Sometimes they'll work with you depending on you state's insurance regulations but I think a lot of insurance companies automatically gravitate towards a total loss with a motorcycle unless you intervene.

    My wife totaled our SV1000 but it was mechanically very repairable although the plastics were trashed and scuffs on the exhaust, bent rim (but still usable), etc. Knowing the cosmetics alone would total the bike, I inquired about not totalling it since it was still rideable and Progressive offered me the option of "Cosmetic Total Loss." This depends on state insurance laws so isn't available in all states but they are allowed to declare that when they believe the bike is only totalled visually and can be mechanically repaired below the threshold for a total loss. So they totalled the bike but did not brand the title as such (since it was mechanically ok) and allowed me to buy it back for $800, deducted from my payout. So I ended up getting a $3100 check after deductible and buyback and put maybe $300 into repairs.

    So IF this were an option, you'd get to keep the bike and still get the payout minus salvage value which means you'd still be getting a nice check after the deductible since the salvage value is still less than the value of the bike.

    Another option that I've done with my RSVR when I dropped it in gravel is to just suck up the repairs yourself if they're not too expensive to fix or you can live with them.

  6. #6
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    If damages are 80% more than actual cash value, they will total it.
    if there is the tiniest of knicks or a scratch on the frame, they will total it.

    what i would do and have done is take it to a shop and have thrm 'work' with you as to write up a rrpair estimate but do not total it, unless you want it totaled?

    since the shop did all the work, the adjuster wont spend too much time going over the bike and comparing the repair costs to his own.
    Current rigs:

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  7. #7
    Honest always, feared often Micah / AF1 Racing's Avatar
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    Generally speaking around here the insurance companies want approximately 20% of the value of an average example based on comparable sales.
    Diminished expectations is the key to happiness in life.

    Micah Shoemaker
    AF1 Racing
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    In Tampa the KBB on that bike is $11,200. What was the estimate for repairs? If there was as little damage as the picture indicates I may have forgone the insurance company and just replaced the nicked exhaust if that was at all possible. The picture appears to indicate another vehicle involved so that may have forced the incident to be reported to police and the insurance company tying your hands so to speak however I would have raised my objection to totaling the bike first off and let them know that was not an option.

  9. #9
    apriliaforum expert MamboItaliono's Avatar
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    Ok sorry for the delays - my computer can't log onto apriliaforum as of 18 hours ago, so trying to respond via phone and it isn't as easy:

    The old people in the photo on the phone looking at my bike are calling their agent after having just hit my parked motorcycle. Everything is amicable, and their agent is covering everything - so eating the repair cost myself is not an option, it's covered.

    With a BMW just plastics and levers alone it is very easy to reach 80% KBB/NADA value of the bike

    Current estimate is north of $10,000.00

    I liked the cosmetic salvage idea and I will ask about that. So far insurance has not informed me of the estimate nor their decision. I asked the shop directly for the estimate so that I could make the best possible plans based off of your guy's experience (like the cosmetic total loss)

    Micha, thank you - that sounds similar to the ball park I was thinking of 15%-40%. If it is 20% I would be content to take the buyback either as salvage or as cosmetic loss

    Their insurance doesn't know that I know the estimate yet. I didn't want to be broadsided and pressured into a bad decision

  10. #10
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    Quote Originally Posted by motoracerx View Post
    If damages are 80% more than actual cash value, they will total it.
    if there is the tiniest of knicks or a scratch on the frame, they will total it.

    what i would do and have done is take it to a shop and have thrm 'work' with you as to write up a rrpair estimate but do not total it, unless you want it totaled?

    since the shop did all the work, the adjuster wont spend too much time going over the bike and comparing the repair costs to his own.
    The percentage they total at depends on the state. Most aren't that high.


    Sent from my iPhone using Tapatalk

  11. #11
    apriliaforum expert ToraTora's Avatar
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    You can take a cosmetic allowance. Many time if there's a scratch, and it doesn't bother you, and doesn't effect the safety of the bike then you can take a cosmetic allowance, and not have that amount added up in the total repair costs, thus keeping it below the percentage (which I've found to be 70%), of what they determine to be the value of the bike.

    Before you let them do anything fight them on the value of the bike. Ask them how they came up with the value. Many times they will employ very questionable sources. I have them call up dealers and threaten them to give a low value. I'm not kidding they are down right nasty at times. But they have to tell you their sources, and you can call those sources and verify the legitimacy.

    Fight hard to raise the value of the bike. Everything is determined from there, and nothing else matters prior to getting this number as high as you can. Other things that can increase the value is location. For instance bikes in San Francisco tend to be worth more that bikes in other areas. You can use that to your advantage when fighting for the value of your bike.

    Once you are somewhat content with the agreed value then work on the cosmetic allowances to get the repair to an amount that doesn't total the bike. Be friendly, but know they are not your friend, and they are not looking out for your best interests.

    Also, what you purchase a salvage vehicle for is its forever value. If you repair it and make it whole it's still a salvaged bike that if you get hit again they wont pay out to cover above the salvage value, because that's a salvaged bike. Sure you might be able to sell the bike to someone for more, but that carries its own level of dishonesty.

  12. #12
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    Wise words. ^^

    No sympathy for insurance companies. You and your things are not in their best interest.


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  13. #13
    apriliaforum expert MamboItaliono's Avatar
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    Thank you very much. Theres a lot of knowledge there so I'll probably re-read it a few times to digest it all

  14. #14
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    Quote Originally Posted by MamboItaliono View Post
    Thank you very much. Theres a lot of knowledge there so I'll probably re-read it a few times to digest it all
    biggest thing as others have mentioned, is to fight for increasing the value. You can do some of the legwork yourself by hunting for sale ads and provide the highest starting prices. Kbb/nada serve as a guide, but are not the final determinations of value, the local market is. Use that to your advantage.

  15. #15
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    Quote Originally Posted by Pvster View Post
    biggest thing as others have mentioned, is to fight for increasing the value. You can do some of the legwork yourself by hunting for sale ads and provide the highest starting prices. Kbb/nada serve as a guide, but are not the final determinations of value, the local market is. Use that to your advantage.
    Though, if your local market is depressed (for whatever reason) you can also argue that the market is national, and use that to your advantage - for some vehicles, at least.

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