June, 2010

How to Get an Accurate Classic Car Appraisal   (From The New York Times)

A classic car appraisal can be done using a systematic process to make sure
that all factors that affect its value and pricing are considered. If you are looking
into buying or selling a classic, it is important that you are able to have an
accurate car appraisal first. Here are some of the steps that you can follow to
appraise the value of a classic automobile.

Step 1: Furnish a Classic car Appraisal Guide
First off, you can purchase a classic car value or pricing guide. A guide like this
usually offers clear terms and information about the various cars how much they
would be worth in different conditions. You would find out that two cars of the
same model could have very different values based on their conditions.

Step 2: Assess the Condition of the Classic Car
Classic automobiles are usually rated using a scale of 1 through 5, with 1 as the
best condition that a classic car can have. A condition 1 car would make a great
show car. However, most classic cars which are displayed at shows are in
condition 2 or condition 3. Classic automobiles which are regularly used by their
owners would be in condition 3 or condition 4. Condition 5 classic cars might not
be drivable.

Step 3: Originality matters
The closer the classic car to its pristine original condition, the higher its value would be. To be more valuable, it should also have all its original parts and equipment. This could also include the quality of the parts of the car, which may depend on its make and manufacturer. Also remember that although having custom paint, refurbished interiors, tricked out wheels and modified engines could make a classic car faster and more comfortable to drive, they could easily decrease the overall value of the car.

Step 4: Approximate the Rarity of the car
The rarer the model of the car is, the higher its value would be. For instance, a car manufacturer may have made numerous models of a car in a year but only a couple hundred have a particular feature or engine. This makes that couple hundred rare models, making them more valuable.

Step 5: You can Hire a Classic car Appraising Professional
If you find yourself overwhelmed on how you could determine the value of a particular classic car, you can always get the assistance of a professional. You can search for some reputable appraisers online with The American Society of Certified Auto Appraisers or you can ask for recommendations from other classic car collectors and enthusiasts. You can also bring your car to a classic automobile show or event. Most of these shows and events have some appraisers on hand for guest exhibitors.