Classic and Vintage Bicycles: What's it Worth? Appraisals and Inquiries - '86 Miyata 610 in Hit-&-Run
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06-28-11, 04:47 PM
Hi there. I was struck by a truck that ran a red light a couple weeks ago while on my Miyata 610. The guy was nice enough to slow down while I rolled over his hood before he sped away. I did, however, manage to get the license plate # and have hired an attorney. I suffered no serious injuries; just bruised ribs, sore neck, and a lot of scrapes and bruises. So far I still don't know the status of his insurance or lack thereof but my attorney asked me about the value of my bike. Mine is the only one I have seen for sell here in Austin so I really don't know. I saw a frame exactly like it with only a few components go on ebay for 380. Mine was all original (except the tires of course) from '86. As far as I can tell the fork is bent, the catilever break boss is broken off, and the break lever is bent. I haven't seen any obvious structural damage to the frame but the chain is twisted up on the outside of the freewheel in such a way that it seems like only magic could do it. I haven't had time to unravel it because i was out of town for a week but I am sure it has eaten into the steel pretty bad. I miss it so much and it was highly prized for me because it was original. I am really into old things and proud to keep them nice. Even if the frame isn't damaged, it still sucks to have to put a mismatching fork on it. It had no rust and only a couple of tiny paint scratches before the accident. What do you think it is was worth?
06-28-11, 08:46 PM
take it to a bike shop - ask how much it would be for an entry level steel framed touring bike...(not cheap...) just a thought.
06-29-11, 09:53 PM
Thanks for the reply. I am taking it tomorrow and the ones I have already talked to said that they write an official estimate of repair or, if the frame is gone, then they quote the price of a similar new bike. For anyone in the same situation the shops said this is the proper legal process and the estimate would have to be notarized. However, I can only speak for Texas.
3373jones, thanks for the reply.
06-30-11, 06:26 AM
Given the circumstances, I would insist on being made whole, without ANY compromise to the quality or originality of the bike.
Since your LBS cannot "undo" the paint damage (even a Cycle art quality repaint would devalue the bike) nor replace the fork from stock, I would have them write an estimate for replacement of the damaged components by sourcing another identical parts bike, in exactly the same color and condition.
PS - It is extremely probable that your frame is bent. Normally a frame does not tangle it up with a TRUCK and survive unscathed. However- some LBS's are incapable of determining if a frame is bent - much less repair one. (I learned this the hard way.)
06-30-11, 06:39 AM
my daughter had a single speed built up with an old Stella frame I bought for 30 dollars. Just a few parts but a set of those neon green deep V rims *maybe worth 2-300 dollars* It was crushed while chained up by her apartment by a delivery truck. They said they'd replace it. She took it to Revolution Cycles and they quoted, to replace these days it would be about 900 dollar dollars (basically they'd replace with a Surly single speed. they spec'ed out a bike, built it, and sent the bill to the delivery company's insurance co. Actually the bike was more like $1k. NOt a classic, but she got her money's worth .
06-30-11, 07:36 AM
If you haven't already, see a physician about your injuries, if for no other purpose than third-party documentation. Photograph any visible injury. Ask your attorney about things like lost time (especially if you missed any work, even for your doctor's appointment), pain and suffering, etc. Judges hate hit and run drivers and insurance companies know this. Rather than risk having a hanging judge slap on a big punative settlement, they will likely want to settle out of court. I'm not suggesting an inflated claim or exaggerating your losses, but someone who runs a red light, causes damage and injury, then takes off like a scared rabbit, deserves to be held accountable for all actual damages as well as a reasonable punative smack for the trouble he caused you.
Here's hoping all turns out well for you.
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