| steve-cook | -- 06-03-2012 @ 7:34 AM |
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Has anyone ever had an appraisal performed how did you know the person performing the appraisal was legitimate is there a professional organization that someones credentials can be verified
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| CharlieStephens | -- 06-03-2012 @ 9:00 AM |
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Steve, You should add your general location to your profile and also to your post (in a case like this post where this information is necessary for a response). If someone knows a good appraiser they probably won't spend the time looking up their phone number since you probably don't live close and it would just be a waste of time. If you live in California an appraiser in Florida won't be useful. What do you need the appraisal for? There are price books out there that will work in some situations but not be accurate enough for others. Charlie Stephens This message was edited by CharlieStephens on 6-3-12 @ 9:01 AM
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| steve-cook | -- 06-03-2012 @ 9:41 AM |
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I currently reside in Raleigh NC (added to profile). My question was more general question for example, If I were interested in a car in California and wanted an accurate appraisal of the cars value for purchase what professional organization would be the best organization to contact. Appraisal could be quite subjective. Some people are looking to increase their insurance value some are looking to purchase a vehicle. Is it all original or a historic hot rod or a street rod how is the real value put on a car. I see some cars on Barrett Jackson that are very nice but am amazed what they are selling for xxx,xxx then I see some on the internet that appear as nice or nicer with a much lower asking price I seem to have a hard time putting a price on my own car I guess the true value is what someone will pay lately that seems to be very little when I am selling and much higher when I look to purchase. Anyway I am wondering is there a organization that tries to corral some of the values in some reasonable way or are values on cars like a poker match and it just depends on who flinches first.
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| supereal | -- 06-03-2012 @ 10:06 AM |
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Appraisals are probably not worth the cost unless you have a Rolls, Ferrari, etc. Determining value of a vehicle is never definitive, as the actual value is when the car changes hands between two willing parties. Auctions, such as Barrett-Jackson have little or no meaning to the old car hobby at large. Those cars are professionally groomed for the sale, which caters to the well heeled. There are several price guides, such as Old Cars Weekly, and others, and a good summmary of actual sales by Hagerty Insurance Company. At present, the old car hobby is suffering from the weak economy, and sales tend to reflect the need of sellers to raise cash. The best advice is to wait until the market recovers, unless you are a buyer. Old cars should always be purchased for the fun of using them. Most experienced in the hobby know that old cars are seldom a monetary investment. If you are a newcomer to the hobby, and a Club member, use your member roster and enlist the opinion of someone who has been thru the process. This message was edited by supereal on 6-3-12 @ 10:08 AM
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| alanwoodieman | -- 06-03-2012 @ 10:53 AM |
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I paid for a professional appraisal from a national company and when I received the car it was not what the appraiser said it was, If I wanted to do something like this again, I would spend the money to go see the car unless I could get a local club member to go look at it with a list of questions from me. sort of a wish list
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| ford38v8 | -- 06-03-2012 @ 1:04 PM |
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As others have advised, an appraiser is of little use to you unless your only consideration was the price you might pay for a car. Appraisers are not going to advise on how accurate a restoration is, what it would take to restore a car or know what your skills are to do so. They advise only on a monetary value, and actually specialize in insurance value, and in that way are useful to collectors. No wish list you could think of could substitute for your actually being there to see what you are buying. If you aren't thoroughly schooled in what you can expect to see, enlist someone to go with you, or get hold of a local club where the car is located and hope to find someone there you can count on to advise of the condition and negotiate in your stead. In gaining the experience you need to determine what to look for in a car, you will get a handle on what to pay for a car in various states of repair. A very rare car in poor shape, you will find, is worth much less than a common car in Dearborn condition, and conversely, many Touring CLass cars are worth more than a Dearborn car. Value is dependent on many factors, and someone else's value is not your value. Alan This message was edited by ford38v8 on 6-3-12 @ 1:15 PM
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| CharlieStephens | -- 06-03-2012 @ 5:59 PM |
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Steve, Have you ever read the "Old Cars Price Guide"? I wouldn't depend on it to buy or sell a car but it is probably a good first cut. Charlie Stephens This message was edited by CharlieStephens on 6-3-12 @ 6:07 PM
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| trjford8 | -- 06-03-2012 @ 6:52 PM |
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Steve, appraisers can "appraise" a car , but that does not mean they know what to look for on a specific car when they are hired by a buyer. They are like an "all purpose spray gun". It will spray paint , but not good for specific types of paint. If you are looking for a specific type or make of car seek out someone who knows about those cars. Pay the person to go with you to look at the car before you buy it. This will not cost you anymore than an appraisal and you will get expert advice from a person who is familiar with that type of car. If you are a buyer you want that experience to be positive when you buy the car. Never buy a car without looking at it yourself and if you are new to the hobby always have a second opinion. A small investment in hiring a knowledgeable person can save you thousands of dollars down the road.
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| TomO | -- 06-04-2012 @ 8:12 AM |
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Steve, There is an organization that qualified appraisers belong to called the American Society of Appraisers. Most insurance companies require an appraiser to belong to it or a similar organization. Some appraisers specialize in appraising a car for insurance purposes, others in damage assessment and others in pre-purchase inspections. The best advice I can give you to help select an appraiser that will give you the information that you need is ask for samples of his work and references. Most appraisers state that determining a value is an art not a science. In the fine print you will see a statement that says this report is the opinion of the appraiser on the specified date and location of the appraisal. I was looking at a car that was 1,000 miles away and the owner provided photos showed a car that would be a high Old Cars Price guide of 3 or a low 2. I contacted 5 appraisers before I found one that was qualified to look at the car and give me an accurate description. He supplied me with 150 photos of the car and a 2 page report describing all of the photos. He uploaded the photos while he was close to the car, in case I needed a better photo of an area or a photo of an area that I felt would better define the car. His photos showed the car to be of slightly lower quality than the seller had represented, more like a solid to low number 3. I think that I was lucky in finding this guy after only checking out 5. Tom
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| nelsb01 | -- 06-05-2012 @ 9:51 AM |
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Don't want to sound like a commercial here, but we have a very good vehicle appraiser right in our own Club. I would suggest you reference the March April 2012 issue of the V-8 TIMES. Page 107. Might answer some of your questions if you contacted him.
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