How to Value an Antique Car

By: Carl Phillips

How much is your antique car worth?

Every year more become classified as antique or collector cars.
With so many antique cars on the market these days, it's getting
harder and harder to keep track of market prices. Luckily there
are a number of guidelines you can follow to come up with a fair
price for a classic automobile.

Antique car prices are determined by a number of factors, but
the most important one is supply and demand. The more popular a
car is and the less of them that are on the road, the greater
its market value. Forget about how much the car sold for
originally. Forget about how much money has been put into
restoring a car. None of that matters. How popular is the car
and how many are there? That's the most important question of
all to ask.

So how can you determine supply and demand? Where can you find a
price list for antique cars? If you want to buy a used car, you
can go to the Kelley Blue Book, the standard authority for used
car prices in the country. Is there something similar for
classic cars?

Fortunately there is. The Gold Book has been around for nearly
40 years, and similarly to Kelley's Blue Book, it is the defacto
standard for antique and classic car prices. They not only
monitor auctions all over the U.S. but also monitor private
transactions between individuals - as long as they can be
verified. They also have a web site where you can use there
on-line search tool to find the sold prices for thousands of
antique makes and models. This can give you a good baseline as
to what others think the car is worth.

What is the condition of the car. This is not as much of a
factor as supply and demand but it is nevertheless an important
factor. First off, you can ignore the odometer readings. Many
antique cars, especially those that have had significant
restoration work done on them, have simply had their odometers
rolled back to zero. Unless you're a mechanic yourself, bring
one along to evaluate the physical condition of the car. Listen
to the engine, check the wiring, inspect the engine mount and
ignition systems, take it out for a test run. Any problems will
normally cause the evaluation price to be adjusted downwards.

Has a celebrity owned the car? Celebrity ownership raises the
price of everything. That the bid price of a piece of chewing
gum spit out by Britney Spears reached $14,000, tells you what
celebrity ownership can do to the price of a classic car. If you
are buying a classic car from someone who claims it was owned by
a celebrity, be sure to get some sort of document of
authenticity - as there is no shortage of shysters willing to
take your money.

And lastly, keep in mind that collecting antique cars usually
turns into a lifetime hobby. You'll no doubt meet fellow
collectors at future auctions and events that can give you
further advice about not only valuating antique cars but also
can help you find some really great deals.

Article Source: https://www.collectibles-articles.com

Carl Phllips writes about antique car collectors and other auto related topics on his website. He is an author and regular contributor to www.antiquecarcollectors.com.

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