The value of a classic car is affected by its age, its current condition, the model, the manufacturer and whether it's authentic. Value is also determined by mileage and whether the vehicle has all its original equipment intact.
Usually, the older a classic car is, the more valuable it is. If two classic cars are the same model, the one that's older is often more valuable. Pristine classic cars that are ready to be driven are also more valuable than classic cars that need to be repaired. Buyers should consider the cost of refurbishing a classic vehicle when deciding how much to pay.
Examples of manufacturers that have made some of the most valuable classic cars include Rolls Royce, Ford, Dodge, GM and Porsche. Potential buyers can verify a car's authenticity by checking the VIN, RPO codes, casting number, date codes and rear end tags. For certain classic GM vehicles, potential buyers can verify the authenticity by inspecting the Protect-O-Plate number.
Buyers and sellers can also use a classic car price guide to determine how much a classic car is worth. Guides offer parameters for determining the overall value of a classic car since there may not be very much information available on the car.