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Joined: Aug 2015
Posts: 62
Shade Tree Mechanic
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Shade Tree Mechanic
Joined: Aug 2015
Posts: 62 |
How do we arrive at a value and asking price for our Chevrolets?
Is there a guide or process already outlined here or elsewhere?
What are some publications used to determine values and asking price?
What are strategies long-time enthusiasts use to determine value and asking prices?
After we determine the asking price what are factors that determine selling price?
Hopefully opinions, strategies, new ideas and brainstorming here will serve as a general guide to values.
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Joined: Jan 2002
Posts: 30,701 Likes: 141
ChatMaster - 25,000
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ChatMaster - 25,000
Joined: Jan 2002
Posts: 30,701 Likes: 141 |
The "Old Cars" price guide is about the only price guide.
Gene Schneider
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Joined: Nov 2002
Posts: 7,472 Likes: 26
ChatMaster - 7,000
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ChatMaster - 7,000
Joined: Nov 2002
Posts: 7,472 Likes: 26 |
Some insurance companies have guides but they are just that as value is determined by many factors-condition-model-rarity etc . You can also check past auction sales and classic car online seller listings for sold vehicles. The biggest factor in determining selling price is the desire of the seller and buyer.
Steve D
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Joined: Jun 2018
Posts: 470 Likes: 33
Backyard Mechanic
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Backyard Mechanic
Joined: Jun 2018
Posts: 470 Likes: 33 |
I have seen a few different ways people value their cars. Allot depends on if it is for insurance, owner, your a seller or a buyer.
Insurance companies like Hargerty often have a range that they will give you insurance for before they need an inspection of the car. If the insurance is based on full value of the car you pick something in their range and your premium is based on that. Make sure to check back and adjust this if your car goes up in value.
For Sellers I have seen many that value it to include the restoration cost or improvements that they have made. They are looking for the best price they can get.
Buyers will look at a car and take a value and then subtract whatever they think needs to be changed to make it the way they want it. For example the seller may have placed a perfectly good interior in the car but it is an incorrect color for the year, this may de-value the car to someone that wants it restored to factory condition. The buyer may see the car as worth less than a real market value due to what they want to do to it.
Owners can be all over the place. How much sentimental value is in the car? Do they understand that the market may have taken a dive and it is not worth what it was when they bought it? $10000 in parts does not increase the value by $10000. Do they see the same model on Barret Jackson and think theirs could go for that price.
When I look at a car for a project the value is the potential to meet my needs + what I can find on market value - required repairs. When I say potential to meet my needs I include what will it take for me to get the car where I want it. If the car is going to cost a fortune in parts I consider that in the price to.
Perhaps one item that is overlooked when getting a car is what is the value of the non-economical factors it could bring you. If this is a father son project and it can be done with your skill level you are investing in years of experiences. Is it your escape to relax a little each day? Hard to place a price on this.
While there is a monitory value to these old cars you will never get the amount of money out of one that you put into it. Count the value as the time spent with it and with the people you were with because of it.
I have found that having an old car is a constant project that is never done. I think that is a good thing. Keeps me learning new things. Having two from different eras is just a form of higher education.
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4 members like this:
JoelWeeks, olddominion, Dave39MD, Clement |
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