How Do You Estimate the Values of Classic Cars?


Quick Answer

Determine the value of a classic car by rating its condition on several factors, then finding its market value through publications or online appraisal tools from related organizations, such as the National Automobile Dealer's Association. Several aspects of the interior, exterior, engine, exhaust and authenticity contribute to condition ratings.

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Full Answer

Rate 20 aspects of the classic car on a scale of one to five, then add the totals to obtain an overall condition. Rate the interior of the car, including seats, steering wheel and dash, as well as exterior factors, such as paint quality, condition of lights and body damage. Additionally, rate classic car's odometer readings, brake and clutch pedal conditions, and exhaust and engine system operational status, along with the authenticity of the paint, parts and accessories on the vehicle.

The NADA offers publications and a website that supply market value prices that are low, average or high, based on a classic car's condition. The low value price is offered for vehicles that are mechanically functional but need minor reconditioning and may have detractions due to a poor remodeling job. The company offers an average value price for classic cars that are all original or for proper restorations that are in good overall condition and completely operable. The NADA provides a high value price for classic cars that are in excellent overall condition, with all original parts and showing minimal wear.

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