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Kdancy
11-30-2005, 09:16 PM
I have a Stude friend that wants me to complete an appraisal form for his car. The question I have is this-- is the appraisal supposed to reflect the market value of the car or the cost to build it? The cost to build it far exceeds what I believe the market value to be.

53commander HDTP
53 Champion HDTP
61 Cursed Purple Hawk
64 Champ long bed V8
64 GT

Dick Steinkamp
11-30-2005, 09:48 PM
quote:Originally posted by Kdancy


I have a Stude friend that wants me to complete an appraisal form for his car. The question I have is this-- is the appraisal supposed to reflect the market value of the car or the cost to build it? The cost to build it far exceeds what I believe the market value to be.

53commander HDTP
53 Champion HDTP
61 Cursed Purple Hawk
64 Champ long bed V8
64 GT


Market value. Most build ups (restorations or modifieds/customs) cost the owner far more than the car is worth. This is especially true if a lot of the work is done by professionals.

I'm curious as to why your friend asked you to conduct the appraisal. Most insurance appraisals would only be valid if they were done by a professional appraiser. I've also never heard of an "appraisal form". What's the story?

-Dick-

studegary
11-30-2005, 09:49 PM
There are different appraisals, such as insurance and current value, but commonly an appraisal should reflect the current market value of a vehicle. This would be an amount that a willing seller and a willing buyer would find to be an agreeable amount. The cost to build has little to nothing to do with the value of a vehicle. There are Studebakers that you could spend $35K on that might only be worth $10K when they are finished. For example, it costs about the same to do a paint job or rechroming on an undesirable model as on a desirable model. Also, rarity usually has little correlation with market value. Look at the price of 1957 Chevrolets that GM made millions of and compare that to 1957 Studebaker sedans that they made relatively few of. Assuming that this "Stude friend" is a member of the Studebaker Drivers Club, SDC provides a free appraisal service to its members. Refer to any Turning Wheels.

bonehead007
11-30-2005, 10:07 PM
go to www.nada.com..click on consumer in the left column & look at the top for classic car. Then find your make, model & year. It gives you an general idea of what a restored, driver & basket case are worth..

bonehead007
11-30-2005, 10:08 PM
sorry, i have too much on the address line...

www.nada.com

Kdancy
12-01-2005, 06:52 AM
Thanks fellows. This is what I thought but I wanted to have some of your opinions in case he gets po'ed with me about it.

53commander HDTP
53 Champion HDTP
61 Cursed Purple Hawk
64 Champ long bed V8
64 GT

curt
12-01-2005, 08:08 AM
Try http://www.manheim.com They have a fair value scale.

curt
12-01-2005, 08:11 AM
Well, try http://www.manheimgold.com

Kdancy
12-01-2005, 01:36 PM
This is a modified 55 coupe. It has a chebby 350 crate motor with th350 trans and vintage air AC . 53 front end. Very nice straight body but not a "frame off" job. Over all very nice car but I don't think it would be worth nearly as much as he has in it.

53commander HDTP
53 Champion HDTP
61 Cursed Purple Hawk
64 Champ long bed V8
64 GT

studegary
12-01-2005, 04:18 PM
From your description, my guesstimate would be $17K to $18K. This is based on recent high bids and sales that I am aware of. Many people put much more in their cars and ask much more, but I am not aware of any of these selling for high prices. I am assuming either a sub-frame or a Mustang II front and a nice interior. If it doesn't have both of these, the guesstimate would be lower by $1K to $3K. I am not saying that these items are better than what Studebaker built into the car. I am referring to what the modified market expects and values. A nice '54 hardtop with sub-frame, 350, THM, etc. sold for $9K at the most recent Reno auction. Is he looking to sell the car or for an estimate for insurance purposes? He could run it on eBay with a high reserve and see how much it is bid up to. If he wants to sell it for a fair, current market price, have him contact me.

Kdancy
12-03-2005, 06:20 AM
Insurance purpose. He has over 50,000 in it. I had told him that he would be lucky to get 25,000 for it.

53commander HDTP
53 Champion HDTP
61 Cursed Purple Hawk
64 Champ long bed V8
64 GT

Transtar56
12-03-2005, 09:05 AM
Our specialty and antique insurance company (Gary Steeves Silver Wheels) has virtually ALL of the collector car bussiness in this area.
For good reason too, the prices are fair, no mileage restrictions,and any claims Ive heard of were dealt with to the satisfaction of the owner. Like one member who collects military vheicals and British Sports cars.
One day the tranny slipped out of gear on his truck and it rolled over a vintage MG.
My only problem has been with their appraisers.
Everytime I get a Stude appraised the same little dickhead shows up with a old car magazine under his arm that looks like something you'd buy off the newstand.
He dosen't think much of Studebakers anyway,its plain in his atttitude,and always comes in way under the NADA prices.He told me that my 56 Transtar must have had the engine replaced( it did,with a 63 259) because Studebaker never offered V-8's trucks in the fifties.
Lucky I remembered where the shop manual was so I could clue him in.
He restores Issettas (Steve Urkle cars) so you can tell the guys not right ,but Im going to find another guy to re-appraise mine all over.
Once I asked Gary Steeves what you needed to become a collector car appraiser and he said,"you can be one" and sent me a bunch of literature. Im not sure if Im an apprasier or not,but I think if I find out I am the values on my cars are going up.

studegary
12-03-2005, 02:24 PM
Robert/Transtar56 - Get an appraisal through SDC. It is one of the free benefits that you get for being an SDC member. Information is in any TW. Insurance companies seem to accept the SDC appraisals. Of course the more information and pictures that you can supply the appraiser, the better job he can do.

Transtar56
12-03-2005, 04:37 PM
This guy comes to the house,our I take the car to the Chev/Olds place he works,and he looks it all over.
I will definitly take your advive about SDC apprasials,should have done it a long time ago.
Why have a guy appraising your car who you know never thought they were worth much new?

65cruiser
12-07-2005, 03:00 PM
Contact: Bill Oliver, 20509 Toluca Ave. Torrance, CA 90503 (310) 542.8941

He appraised my Cruiser. I sent him a few pictures and a description of the car. He gave me a written appraisal that my insurance company accepted as an agreed value. He's with the SDC and it was free.

Mark


quote:Originally posted by Transtar56

This guy comes to the house,our I take the car to the Chev/Olds place he works,and he looks it all over.
I will definitly take your advive about SDC apprasials,should have done it a long time ago.
Why have a guy appraising your car who you know never thought they were worth much new?


________________________
Mark Anderson
1965 Cruiser
http://home.alltel.net/anderm

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