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They work off a history of mid to high end auction results as well as past agreed upon values in the insurance market. From what I've checked over the years they seem reasonable, if anything a little conservative.
I just ran my Corvette through their calculator and it came in within a couple thousand of an independent appraisal I recently had done. If nothing else, it will give you a ballpark value.
My '66 Coronet is insured for $78,200 based on a Haggerty valuation, but I don't think it would pull that in the market place. You could probably reduce that figure by $20-25K.
My '66 Coronet is insured for $78,200 based on a Haggerty valuation, but I don't think it would pull that in the market place. You could probably reduce that figure by $20-25K.