Classic Car Appraisals
by Pat Goss
PAT GOSS: So, you’re thinking about buying a classic or collectible automobile, and you’re not quite sure what to look for when you’re looking at these vehicles. What should you do? Well, you should have the car appraised, and we have a certified appraiser, Mr. Jack Anderson, here with us today. Jack, welcome to Goss’ Garage.
JACK ANDERSON: Hi Pat and thank you for having me.
PAT GOSS: Absolutely. Alright now, tell me a little bit about what it is that you do.
JACK ANDERSON: Well, I am available to appraise collector vehicles, either to protect that owner’s financial investment in it or, in the case of someone that’s looking to purchase a collector vehicle, to do a pre-purchase inspection and appraisal to make sure that they are fully informed before they spend their hard-earned money on that car or truck.
PAT GOSS: Alright. Now, you used the word financial, uh, protection, here-- uh, explain that a little bit more.
JACK ANDERSON: Well, when you’re making an investment in a vehicle, like this ’55 Chevrolet, you want to make sure that if something happens to it, you will at least be paid for what that vehicle is worth in the marketplace, and that’s one of the primary reasons that individuals do hire people like me to perform these appraisals: to make sure they have adequate insurance coverage for them.
PAT GOSS: Okay, now I also suspect that you’re looking for things that might not be obvious to the layperson.
JACK ANDERSON: Exactly, um, one of the things, as an appraiser, is that you’re approaching each vehicle objectively. And you’re looking for basically the quality of the work that has been done and any work that might not really pass muster, that would be of a questionable nature. So all of that information gets shared with the client, so that they can make an informed decision.
PAT GOSS: So in other words, the old street sign on the floor board doesn’t...doesn’t work.
JACK ANDERSON: No, it would not. In fact, that would be a demerit, if you will, when it comes to not only the condition, but of the value of a car like this one.
PAT GOSS: Okay, now, if you had one single thing that you would advise people about as far as appraising is concerned, what would it be?
JACK ANDERSON: Make sure you hire an individual with the appropriate qualifications and experience to do this work. That person may have worked restoring or repairing cars, perhaps he or she has been a judge in nationally-competitive points shows, but those people who study and are prepared will be able to provide the service you would need when you’re looking to either protect your investment or possibly purchase one of these collector cars.
PAT GOSS: So they have to know the car that they’re appraising?
JACK ANDERSON: Absolutely, and before they go out to take a look at that vehicle, they’re learning as much as they can about it that they can apply at the scene.
PAT GOSS: Jack, thank you so much. And, if you have a question or a comment, drop me a line, right here at MotorWeek.