Classic car appraisal: What your car is worth
Classic car appraisal: What your car is worth
The most important facts in brief:
a classic car appraisal determines the current market value of the vehicle and documents factors such as condition, originality and rarity
It is carried out exclusively by professional experts
A classic car appraisal is required for the following cases: Car insurance, purchase and sale of a classic car, value retention and documentation and as proof of originality
The costs for an appraisal vary from approx. 80 to 500 €, but can also be calculated for rare collector's models depending on the effort involved.
Classic car appraisal is the basis for the value retention and safety of the respective vehicle
What is a classic car appraisal?
Classic cars are usually not just a hobby, but also a capital investment for many enthusiasts. If you want to buy, sell, insure or simply know the value of a classic car, a professional valuation is essential. A classic car valuation is a detailed assessment of a historic vehicle by an expert. It serves to determine the current market value of the vehicle and documents factors such as condition, originality and rarity. In addition to the market value, the replacement value or restoration value can also be determined. This is important, for example, in the case of insurance issues or claims.
Why do I need a classic car valuation report?
A classic car valuation is essential for the following cases:
Motor vehicle insurance cover: In order to adequately insure the classic car, a current valuation report is usually required. This ensures that the actual value of the vehicle is reimbursed in the event of damage. If only standard insurance is taken out for a classic car, it is possible that only the current value will be reimbursed.
Buying and selling classic cars: A professional valuation report is also required when buying and selling a classic car. It offers transparency with regard to the condition of the vehicle and can also be used as a basis for argumentation in price negotiations.
Value retention and documentation: A classic car appraisal is a valuable document for the long-term value development of your vehicle. Especially with regular maintenance and restoration, a documented increase in value can be important to prove the long-term success of the investment.
Proof of originality: The originality of a classic car has a considerable influence on its value. A valuation report contains a detailed analysis of which parts are still original and whether restoration work has been carried out professionally. Although classic car appraisals do not have a fixed period of validity, it is advisable to update them every two to three years. In this way, the value development of the classic car can be fully documented.
How does a classic car appraisal work?
The valuation report is prepared by a certified expert who specializes in historic vehicles. Always make sure that the appraiser is reputable. They should take a close look at your classic car and examine the bodywork, interior, engine, chassis and paintwork in detail. The condition of the classic car will also be assessed. The quality of the vehicle is assessed on the basis of condition grades (usually from 1 to 5). A score of “1” means a flawless vehicle, “5” indicates a need for restoration. Any previous damage or other special features, such as restoration work, previous owners or even the model history, are also documented in the assessment and determination of these condition grades. Documents, invoices and restoration reports must be submitted. Finally, the expert will compare the classic car with similar models on the market to determine the current value.
The result is a detailed report that clearly shows the value of the vehicle.
Costs for a classic car valuation report
Classic car valuations are available in different versions. An appraisal in accordance with § 23 StVZO is available from as little as 80 euros, while brief appraisals for classic cars start at 90 euros. Comprehensive valuations can cost up to 500 euros. For very rare models, the costs are calculated on a time and material basis. These costs are incurred because intensive research into the vehicle in question is required in advance and is not something that can simply be done. However, investing in a classic car valuation is definitely worthwhile, as it provides clarity and certainty regarding the value and condition of the classic car.