The value of a classic car is determined not only by its type. There are also other factors that influence the prices and that can make the difference between a fair price and a not so attractive price. The dilemma comes with the territory for both sellers and buyers. That’s why either you decide to buy a classic car or want to sell one you should have an idea of the way a classic car’s value is estimated.
The process is similar to the method used to price any other car, but there are a few differences that make pricing a classic car a bit more complex. First of all you should know there are a lot of guides that you can buy or access online that can help you determine the right price. These guides take into consideration the year, the model and the condition of the car and offer you an idea of the price you should ask or consider to pay.
Secondly, you should try to find as much information as possible about the systems used to rate classic cars. The most common methods are the 6 category system and the 100 points system. The first one considers six categories of conditions that define a classic car. Each of the categories is then rated with a number from 1 to 6, where 1 means best condition and 6 worst possible condition. The 100 points system approaches the subject slightly differently, considering that 100 points should be granted for a car in perfect condition. Any kind of flaws result in a loss of points that is proportional to the severity of the problem.
Thirdly, you should pick one of the systems described above, the one that best fits your car and that makes pricing the classic car an easier task for you. To do so, you should take an objective look at the interior and the exterior of the car. Performance and mechanical issues should be also part of your agenda, because it will determine if your car is functional. That aspect will reflect the price!
Moreover, if you discover that your car is actually a rare or a unique car you should consider a higher price. Usually, classic cars that are harder to find or have been produced at their time in a limited edition are more valuable the more common ones. That’s why you should pay attention and look for special designs, classic car accessories or colors that make your car unique.
Last, but not least you should remember to add extra value if your car has any original or authentic car features or parts. If your car has not been restored at all or if only some of the parts were replaced you should know that the price is usually higher. The originality can refer to the paint of the car or to important parts of the car, like the engine. Either way, car collectors will be thrilled to hear such good news and will be willing to pay the extra dollar.
Pricing a classic car can prove to be a serious task. Nowadays, with the development of the classic car market, car collectors are interested in proofs of originality. But no matter the situation, any classic car deserves a fair deal and there are a lot of tools that can help you get the price right.