HMMWV prices are sure coming up

M1165A1

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New York
Saw an M1165A1 I wanted sell earlier today on the govplanet, hammer price $45,400. Adding premium of 15% that’s $52,210, and with GA sales tax of 8% = $56,376!!!

I paid less than half that for about the same thing in February. A second slightly newer M1165A1 (but with more issues) sold for $39K at the hammer price.

 

D6T

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Vermont
I’m curious what this means and what the long-term market effect will be.

Thus, I’m concerned about the insurance aspect of military vehicles, and their value increases, in general.

I wonder if it’s a bad sign for the insurance industry yet good for someone else? Besides collectors.

Here’s my tale that got me thinking:

When I first switched my M1009 insurance to Hagerty four years ago, I declared a value of $6k based on what I had invested. I needed to take photos and describe the work done to it.

A couple years later, and with the K5 market heating up in general, I looked into raising the coverage to $10k. My wife didn’t agree with my idea and the resulting increased premium, so I didn’t follow through. They still would have wanted photos and receipts and whatnot.

At the beginning of this summer my insurance agent cold called me trying to get me to increase coverages— I insure all of my autos and house through him. I half-jokingly asked about increasing the M1009 coverage to $15k based on the red hot K5 market and additional work I’ve done. He typed in some numbers, said “ok” “, and gave me a very competitive quote. Frankly it was almost criminally cheap compared to what I was quoted on $10k coverage just a couple years ago. And he said coverage could begin immediately with a click of his mouse, right then and there, no photos or receipts required, he would bill me later. I declined but it had me both stunned and somewhat worried about the world. I forgot all about that until just now, seeing those values soar (as well as K5/M1009 values), and wondering what the consequences could be.
 

Mattguy

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Indiana
I think the pricing has gone nuts because of all the YouTubers who have purchased Humvees. The amount of free coverage gov planet got just from Westin on when he picked his up in yermo was over 2.2 million views.. I'm sure he got a few people interested in buying. And you also have the people who bid and never pay. I've seen a few Humvees go back on the block from Yermo.

Sent from my SM-G991U using Tapatalk
 

kendelrio

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Alexandria, La
It isn't just MVs. I bought my truck a month ago to replace the one destroyed by Ida.

2019 Ram Warlock a month ago was 38k and change.

Checked it yesterday and it's 47k and change. Instant equity!

As far as my 5 ton goes, I declared its value at 23k for replacement, it costs me $19.00/month with towing and thats for comprehensive.... 🤷‍♂️
 

Sigi

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Portland
Seems like late model 4 seat turbos are what people are bidding up. 2 seat 6.5 NAs 1123s can still be had between 10-15k. Big difference in bidding depending on if the truck comes up early or late at auction day.
 

NDT

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Camp Wood/LC, TX
I think the pricing has gone nuts because of all the YouTubers who have purchased Humvees. The amount of free coverage gov planet got just from Westin on when he picked his up in yermo was over 2.2 million views.. I'm sure he got a few people interested in buying. And you also have the people who bid and never pay. I've seen a few Humvees go back on the block from Yermo.

Sent from my SM-G991U using Tapatalk
Yeah even I wasted 15 minutes of my life watching that shitshow
 

blutow

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Location
austin
2 seat 6.5 NAs 1123s can still be had between 10-15k. Big difference in bidding depending on if the truck comes up early or late at auction day.
I bought a decent looking 2 man a little over a month ago for just under 10k, but even the basic 2 man trucks look like they are shooting up. Here are a couple that sold yesterday for 16k and 19k, just basic trucks. Pretty clean, but they still have some obvious issues plus the unknowns. With auction fees and delivery, these are going higher than similar private market trucks that you can actually check out before purchasing and you don't have to mess with registration/EUC/waiting. I do agree that time of day matters. If there are multiple similar trucks going the same day, try to get a truck in the middle of the pack from a timing standpoint.


 
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