1967 M38A1CDN2 Insurance value

[Retsarge]

Hi Guys
I have my 67 M38A1CDN2, 7105 96879 CFR 6707832, insured with Hagerty with a value of US $21,000. The jeep is fully restored and in great condition. I just received my annual renewal notice. The paperwork says that now is the time to review its value and make any changes needed. The renewal date is in july, so l have some time.
My question to everyone is, what is the approx current value of a CDN2? Should l increase its value and to what price? I have not seen another one up for sale in a long time. Any good thoughts on its insurance value. Thanks
Richard Mix

[maple_leaf_eh]

On line classified ads in Canada start about $1000 for the second worst rusted, abused and ignored M38A1 CDN Jeep ever advertised. The hopeful upper end for a restored and appointed example is now wavering around $25,000. Sellers on Kijiji either have no clue what they're selling and how to advertise, or they believe with all their greedy souls that their tarted up survivor or motor pool condition vehicle is the best one on the market.

I like Hagerty's condition ratings and MVPA's judging categories are a good start.

Good luck!

[maple_leaf_eh]

Richard, to add about the market. US prices will not look like Canadian prices. We don't have the wide variety of almost constant surplus disposals. Canadian collectors have had to nurse their modern vehicles to roadworthy and showable condition. Your pricing is in competition with USMC 1950s M38A1s etc. Lots of supply = lower prices. In our situation, limited supply = lower interest. Also, our riding season is May to September.

[rob love]

That $21,000 USD value would equal about 28,600 CDN $. I would suggest that is more than enough insurance for any M38A1 CDN2 unless it is very minty and very loaded with accessories like winch, radios and GPMG.



I have to disagree with Terry's equation of :

Lots of supply = lower prices. In our situation, limited supply = lower interest.

. Generally CMPs are a dog to resell, and you will have a hard time recouping your investment, but the iconic military jeep of any vintage is an easy sell here in Canada. There are plenty of people with more time than money who want such a toy.

[Bruce Parker (RIP)]

Originally Posted by rob love

Generally CMPs are a dog to resell, and you will have a hard time recouping your investment,.

Too true. Just too high to fit in a garage, getting on in years where their significance is being forgotten. Oh and noisy, slow and drafty to drive.

Add to that the cost of almost every part, equally divided between hard to find originals and even now sometimes hard to find common items that used to be available at UAP.

Just recently I found a list I had put together with estimated costs for what I needed for my HUW project. About 10-12 years ago 'all in' the outstanding need-to-buy items came to about $5000. Now, with most items on the list bought and installed, the REMAINING items I still need (that came to well less than $1000 on my old list) will set me back close to $3,000.

I estimate a ground up CMP restoration, not including labour, would be ~$20,000 to $25,000 to do and maybe get you $5,000 to $10,000 on a good day. Given that dynamic I can't see too many more of them being restored here. That, plus if the starting wreck hasn't been stored indoors there wouldn't be much left to restore.

[Retsarge]

Hi Guys
Thanks for your responses to my insurance value question. As l said l am not
really sure of the value of my CDN2. It is restored and in motor pool ready condition with all its Canadian parts, tall antenna mount, 3 fan belts ect. I have until the national convention to decide if l want to maybe raise or keep same value. Thanks for all the input.
Richard Mix Jr

M38A1CDN2
1967 Kaiser
7105 96879
CFR 6707832

M416
1967 Stevens
6P 6625