What is a cars true value?

hawkeye5766 · Canadian Poncho Superstar!

What is a cars true value?

Urban_suburban · Poncho Master!

A cars true value is what someone is willing to pay. The public drives prices by supply and demand. People want what is popular and that causes fluctuations in market price. I personally have my taste and its not the most expensive cars in the market as it is not the most popular. I would pay more for an original completely stock version than some of these high dollar resto mods that are fetching big money

My 2 cents... I look forward to reading other opinions and see the diversity of this topic

Pontiacanada · A Poncho Legend!

A timeless, tastefully done restoration (stock or custom) is worth far more in the long run than a car "done to personal taste" in my opinion.

I've seen some high-dollar, pristine cars that are hard to sell because of the personal nature of the restorations.

Canadian Poncho · A Poncho Legend!

To me an unrestored nice survivor is worth more than a restoration.

65Camino · Uber Guru

It's all about the marketing or presentation. There are so many parameters where one person would be willing to pay more for something. By bringing it to a bigger audience youre bringing more value to it.

MC · Canadian Poncho Superstar!

One thing about original/restored cars is that they appeal to the people who appreciate originality, but they are also a blank canvas for people who want to modify. I think they have a broader market than a car that has been personalized.

If you modify to your tastes, then you are only marketing to those with the same tastes as you, which can be hit and miss. If you find a buyer who would do it exactly the way you would, then you can probably score a lot of money from them. Most people would probably look at a modified car and start to list the changes they would make to bring it to their tastes - each one of those changes cost money so the value starts to drop.

Appraised value means next to nothing to me. I see all kinds of claims that cars have been appraised for this or that, but in the marketplace the actual selling prices are not anywhere near that. You can tell by the cars that are for sale at high prices forever, vs the ones that sell quickly.

In the end, it's all about whether a particular car appeals to somebody or not, and whether they have the money to spend on it. Nothing else matters.

OURWAGON · Guru

Appraised value means next to nothing to me.

APPRAISAL 40.000 SELL FOR 20.000

CAN NOT BASE A TRUE VALUE ON THAT.

MEANS NOTHING TO ME EITHER disbelief

Bill shuba · Guru

yep very interesting topic, I have been thinking of how far to go with the 69 2+2 when I get it home ..am I better off just cleaning up a few things and selling or go through the car motor ,paint ect ect

-- Edited by Bill shuba on Saturday 16th of February 2019 12:21:30 PM

68vert · Guru

Interesting topic as I'm currently looking for a car. In my humble opinion I really like original body and paint, what I love about older cars is the paint colours, trim, emblems etc. so to me those are the most valuable. As soon as the stock colour has been changed it lowers the value in my mind. My ideal would be a survivor with maybe fresh ORIGINAL colour and a few bolt ons like better brakes, suspension, wheels (stock type rally) and tires and ignition/fuel/exhaust upgrades. I certainly appreciate the skill and creativity to create a full on pro touring etc I just don't know that I could justify spending that much creating something I know will only appeal to a slim market. My problem is I always think about the Return on the money I'm putting in hence the reason I want to find the 'right' car I hope I'll keep for years rather than swapping them every couple years. That's my own issue though, not related to market value. That said it really is about supply and demand, part of the reason an equivalent Beaumont is likely worth less than a comparable Chevelle. We all know the Beaumont is actually MUCH more rare (production quantity wise) but a wider group including 99% of the USA, know what a Chevelle is but unless an enthusiast, not a Beaumont.

Bill shuba · Guru

just can't picture myself repainting my 69 limelight green as per original ,some of us older guys might like that color I think most younger don't.lots of work to change back,inside doors,trunk lid ect..someone did alot of work to change it to white alot easyier to just repaint white to clean it up..looking for help on that topic..limelight green ,or white ??

-- Edited by Bill shuba on Saturday 16th of February 2019 12:54:20 PM

Canadian Poncho · A Poncho Legend!

I like Limelight but I'm a bit biased. smile

66 Grande guy · Canadian Poncho Superstar!

To my way of thinking there are three types of value to anything you own and it applies to the cars as well.

1. Intrinsic value: This is how useful the item actually is. For a car you can drive anywhere, anytime, this is quite large. For a highly modified car that can only be driven on the nicest sunny days it's less, and for a trailer queen that value is pretty much nothing as you cannot drive it because of value number 2.

2. Resale value: Trailer queens and trophy cars have lots of this if they are exactly what the market of aging baby boomers with more money than brains or mechanical ability wants on a given day. This value is risky and subject to change especially with the change of social attitudes that have, for instance, made fur coats worthless and not welcome in public anymore (in cities anyway) as opposed to the status symbols they used to be. Due to the sanctimonious mob mentality these days, this devaluing will probably happen with our soon-to-be pariah fossil burners whether we like it or not or whether it makes any sense.

3. Sentimental/esthetic value: Does it make you happy? This is an individual call based on your life experience and will vary with every person for any number of reasons. (as per Todd's posting above.)

Have ! missed any?

The point is, you kind of have to weigh all these along with what it will cost you to buy/build/maintain and come up with your own judgment/decision. (which usually is impossible to explain to your wife).

-- Edited by 66 Grande guy on Saturday 16th of February 2019 05:20:12 PM

-- Edited by 66 Grande guy on Saturday 16th of February 2019 05:22:04 PM

Beau 69 · Addicted!

Value may have nothing to with price or cost. I's totally subjective. Emotion and sentiment can play a big part.

4SPEED427 · A Poncho Legend!

When I bought my car almost 3 years ago, I had it appraised.

The appraisal came in considerably under what I paid for it. And on top of that, I knew of someone (who stepped aside to let me buy it) who was willing to pay the asking price based on my evaluation of the car if I didn't buy it.

I told the appraiser his appraisal was ridiculous. For one thing, the car was worth at least as much as I had paid for it, because as soon as a car sells, that's is it's minimum value, because someone paid that for the car. Then I proceeded to tell him that I had been instructed to leave a deposit for the asking price (for the buyer who stepped aside to let me buy it) if I didn't buy it. That price was a bit higher than what I paid, so let's say his appraisal was 10K, let's say I paid 12K and let's say the other buyer was prepared to pay 13K. It's not hard to figure out the car is worth a minimum of 12K, and actually for sure is worth 13K because had I not bought it, it would have sold for 13K....

flatop · Addicted!

Curios to know the appraisers response to that logic Carl

ashmore · Guru

Welll I just sold an 81 c10 shortbox southern truck. I posted it on a Facebook page called maritime square bodies. I discovered that a professional appraisal is no longer necessary and a waste of money, just post it on Facebook or Kijiji and there are lots of people that can appraise it from their couch without ever seeing it. Also people get offended and sassy when you dont accept an offer of half your asking price. Anyway thankfully if you can tolerate the bs serious buyers and decent people do exist. So thanks for reading my rant. I think there are too many factors that affect the value of a vehicle and every individual will put a different worth on a vehicle depending on their personal preference. Some people even think rat rods are worth a fortune and I wouldnt own even though I appreciate the artistic value.

4SPEED427 · A Poncho Legend!

flatop wrote:

Curios to know the appraisers response to that logic Carl

Whoops, I should have finished the story! Instead I went for supper..... biggrin

When I explained it that way, he wrote me a new appraisal for the asking price of the car (the price the buyer who stepped aside was willing to pay if I told him it was a good value)

To me, it was ridiculous that I had to do that.

And to continue, I need to get a new appraisal this year. I already told the appraiser when I was on the phone with him the other day that I was not very happy how the last transaction went.

I'm not sure if I will use him again or try someone new. If I use the same one again, I am going to put pressure on him up front to let me know what he think. This next round the car will be a correctly dated 427 and a 4 speed (for the conversion I used original correct 66 4 speed parts) vs the last time when it was a 283 with 3 on the tree.

And that brings us back to the original intent of this thread when it was started-----was my car worth more with the matching 283/3 speed, or will it be worth more now with a 1966 era, casting/stamping number correct 427 and a speed conversion using entirely original GM parts except for the floor hump?

Bill shuba · Guru

yep thats a tough one Carl..love the way the car looks,no matter what motor or trans is in it ,,all depends on the buyer I quess..for me no matter what;;; I prefer a car that I can drive and enjoy slow and steady or fast its what one prefers I think your going to have a blast with the car when your done and the smile on your face will be the judge of what its worth

-- Edited by Bill shuba on Saturday 16th of February 2019 10:25:59 PM

hawkeye5766 · Canadian Poncho Superstar!

All great comments! Have to agree with Bill...the car is worth more to you because you'll enjoy driving it more. It's the fun/enjoyment factor...is a tire size change also in the works? smile Also think (personally) this will increase the value of the car. Buyers will be lined up to take her for a test drive!!! biggrin

4SPEED427 · A Poncho Legend!

hawkeye5766 wrote:

...is a tire size change also in the works?

Crazy as it sounds? No.

I want it to look like a complete grandpa car.

And I have no plans to abuse it. I mentioned the other night in a post a I made that I never pulled a full throttle shift with my factory 4 speed Grande Parisienne when it was a 396, nor after I put the 427 in. They just aren't the kind of cars to do that to. Now a big block 4 speed Acadian, or Beaumont or something else? Different story...

But I am sure the back tires will still be worn out before the fronts biggrin

Pritch · Guru

Yes, Jim, you have posed "quite an open question." No doubt, we have all entertained this question with regard to a number of topics, vehicles included. I firmly believe that there is no definitive answer because there are too many variables just as some of the earlier posts have identified. I suggest that the main problem exists because very few people share the same understanding or definition of the word original. I believe that a vehicle is original once. The minute a person changes even one bolt, let alone an engine, transmission, braking system, radio or whatever, the originality is gone. Period correct replacements or improvements are all fine and dandy but they do not make or keep the vehicle original since the vehicle was not actually "born" with this equipment. I suppose one could say that no one knows or even cares to know the difference, but the owner likely does. Now, of course there is another question. Why do we go to the bother, expense, joy, or even trouble to make these changes? Suggested answers to the previous question are infinite. Personal choice, opportunity, means by which to do so, bragging rights - and the list goes on and on. I am acutely aware of the appraised value of my '64 CS but am totally cognizant of the fact that I would likely never sell it for this appraised value even if I wanted to. Unlike some owners, I did not invest thousands of dollars into a 55 year old car with the thought of making a bunch of money. I did it because I wanted to. On a very personal note, I am of the opinion that my car, complete with its non-factory engine, non-factory paint, non-factory power brakes and steering, complete, new NOS interior, and factory 4 speed and tach, is actually priceless because I am going to pass it on to my son when the time is right. Definitely a good question!

hawkeye5766 · Canadian Poncho Superstar!

Carl Stevenson wrote:
flatop wrote:

Curios to know the appraisers response to that logic Carl

Whoops, I should have finished the story! Instead I went for supper.....

When I explained it that way, he wrote me a new appraisal for the asking price of the car (the price the buyer who stepped aside was willing to pay if I told him it was a good value)

To me, it was ridiculous that I had to do that.

And to continue, I need to get a new appraisal this year. I already told the appraiser when I was on the phone with him the other day that I was not very happy how the last transaction went.

I'm not sure if I will use him again or try someone new. If I use the same one again, I am going to put pressure on him up front to let me know what he think. This next round the car will be a correctly dated 427 and a 4 speed (for the conversion I used original correct 66 4 speed parts) vs the last time when it was a 283 with 3 on the tree.

And that brings us back to the original intent of this thread when it was started-----was my car worth more with the matching 283/3 speed, or will it be worth more now with a 1966 era, casting/stamping number correct 427 and a speed conversion using entirely original GM parts except for the floor hump?

Is this appraiser a car guy? Does he research comparable cars and what they've sold for? If he couldn't find a comparable that should tell him something! My appraiser has been in the industry(icbc adjuster for part of it) for 40 years and is also a car guy. I received a full write up on my car,along with comparable's and with photo's of mine and ones that had sold. All upgrades/mods were listed..about 12 pages in all. A very thorough appraisal...although...I'd still never get what it was appraised at. He even states his work history!

4SPEED427 · A Poncho Legend!

Yes, I've known him about 35 years. I got to know him through Acadians/Novas. And yes, he said he couldn't find any comparables. And yes, to me, that certainly does say something!

I did suggest that an identical 66 Biscayne would certainly bring a lot more than what he appraised mine at, and I honestly think that if mine is worth less than a comparable Biscayne, it's not by much. Heck, I know a guy who paid more for a 66 Biscayne 6 cylinder post car about 10 years ago, and all he bought it for was the solid rust free body. He stripped the car!

The bottom line is, most of us likely don't care what the appraiser says our car is worth because we're not looking to sell the car. We just want to make sure we're covered in case of a loss.

When we bought our cottage 10 years ago, a guy told me he didn't think it was a very good investment. I told him I didn't care if tomorrow it was only worth a dollar because to me it's worth a million $. And a lot of us feel that way about our cars. As long as we have a car that we love, we don't care what it's worth to anyone else.

68vert · Guru

Bill shuba wrote:
just can't picture myself repainting my 69 limelight green as per original ,some of us older guys might like that color I think most younger don't.lots of work to change back,inside doors,trunk lid ect..someone did alot of work to change it to white alot easyier to just repaint white to clean it up..looking for help on that topic..limelight green ,or white ??

-- Edited by Bill shuba on Saturday 16th of February 2019 12:54:20 PM

I like the Limelight Green too, another unique classic colour IMHO. My post certainly wasn't meant to say any car that's had the colour change isnt valuable, simply my preference. One of my concern is when a colour change ISN'T done fully and you can see original colour under hood, trunk, etc. which doesn't appear to be the case with your car so as others mentioned, the value is how it makes YOU feel!

hawkeye5766 · Canadian Poncho Superstar!

Carl Stevenson wrote:
Yes, I've known him about 35 years. I got to know him through Acadians/Novas. And yes, he said he couldn't find any comparables. And yes, to me, that certainly does say something!

I did suggest that an identical 66 Biscayne would certainly bring a lot more than what he appraised mine at, and I honestly think that if mine is worth less than a comparable Biscayne, it's not by much. Heck, I know a guy who paid more for a 66 Biscayne 6 cylinder post car about 10 years ago, and all he bought it for was the solid rust free body. He stripped the car!

The bottom line is, most of us likely don't care what the appraiser says our car is worth because we're not looking to sell the car. We just want to make sure we're covered in case of a loss.

When we bought our cottage 10 years ago, a guy told me he didn't think it was a very good investment. I told him I didn't care if tomorrow it was only worth a dollar because to me it's worth a million $. And a lot of us feel that way about our cars. As long as we have a car that we love, we don't care what it's worth to anyone else.

Guess that's why I've had my 57 for 35 years,not the value......but the enjoyment...and that is the value to me(priceless)! Could always sell...but would just spend on something else and probably not have as much fun! Been offered a healthy dollar for it more than once,but after all these years..it's a part of me. Will go to my son...teens driving stick! smile

Image may contain: 1 person, car and outdoor