Buying or Selling a Classic Car? You'll Want to Determine its Fair Market Value
Whether you’re buying or selling a classic car, you will want to determine its fair market value. Publications such as the Old Car Buyers Guide, Hemmings or NADA's Classic, Collectible and Special Interest Car Appraisal Guide & Directory are a good place to start. Their price guides rate a car's value using 6 categories according to their conditions that range from “pristine” to “basket case”.
To appraise your car and determine what category it fits into, rate each of the following items on a scale of one to five, using five as the maximum value.
Then total your points for all 20 categories. Compare the points you have given the car to the 100 point maximum. Use this six category valuation to determine the car's market value.
HOOD AND TRUNK
Inspect and Rate the Paint, Glass and Trim
Inspect and Rate the Interior
Dashboard and Instrument Panel
Inspect and Rate the Mechanics
The Odometers Recorded Mileage
Breaks and Steering
Rating the Authenticity, Special Features and Desirability