What Is the Value of My Antique Car?
Value is important whether you want to buy or sell an antique car. You particularly need to know the value of a vintage car before you can have it insured. Other people may offer you an opinion of what they think the car is worth, but its true value is what another person is willing to pay you to buy the car.
A licensed appraiser will begin by assessing the condition of the car. Look for a reputable appraiser who is a member of an antique car appraisal organization. Check with the Better Business Bureau or talk to other antique car enthusiasts and ask them for referrals. Once you get an appraisal, the final appraisal report should include lots of photos of the car and descriptive details about the interior, body, chassis, wheels and engine. The report should also identify the engine, body and serial numbers.
Like any other automobile, the value of an antique car is rated according to the car's interior and exterior condition. Inspect the overall condition, looking for signs of wear. A car that is in pristine original condition and looks like new receives the highest rating of Excellent. Vintage cars, which have been well-maintained in much of their original condition are rated as Fine. Cars that receive this second-highest rating, may have had some professional, high-quality restoration. Antique cars ranked as Very Good still operate, but may have been previously restored. A Good antique car can still be driven, but earlier restoration attempts may now be deteriorating. Minor work probably needs to be done or it may look like an amateur did the previous restoration. While the mileage of the car may be considered when assessing the condition of the car, it does not take priority. Most of time when a vintage car is restored, the odometer is set back to "0" so that a car's actual mileage remains unknown.
An antique car that no longer runs and needs complete restoration of the body, chassis and interior is still considered to be restorable, although the condition receives a low rating. A parts car is in extremely poor condition, is not operable, may have been wrecked and is considered to be good only for parts.
Probably the most important factor in determining the value of an antique car is based on how many of that particular make and model there are. The fewer the number of that particular kind of car, the more it will be worth. Collectors are especially interested in how many of a certain vintage car is still in circulation.
Researching old cars price guides can help you determine the value of an antique car. The Gold Book has been considered a pricing authority for classic and collector cars since the late 1960s. Prices are based on collector car auctions and cars sold by private owners. Book values, auction bids and prices advertised in the classified ads might all be considered when trying to arrive at the value of a car