Valuation Reports for Classic Cars

Originality as well as a good condition of care and preservation are becoming increasingly important for classic cars. “Old sheet metal” is enjoying increasing popularity – and the condition of the vehicle “under the facade” is of crucial importance. It is therefore important to have the condition and value of the classic car determined by a Classic Data expert and to update this documentation regularly. Such a Classic Data valuation report ranges from a short valuation to a detailed report comprising several pages with detailed photo documentation.

Areas of Application of Reports for Classic Cars

Purchase and Sale of a Classic Car

When buying a classic car, it is now common practice to present or create a Classic Data valuation report for the vehicle. Buyers and sellers often value such a report as it helps to document any existing (hidden) defects as well as the originality and condition of the vehicle at the time of handover. It is not uncommon for the Classic Data expert to be commissioned to carry out an assessment in advance in order to have a solid basis for price negotiations.

Restoration and Repairs

In addition to a restoration or repair of the classic car, it is often a good idea to prepare an appraisal. The report from a Classic Data expert not only serves to document the “before and after condition”, but also to provide information about the quality of the repair or restoration, the costs of any necessary rectification of defects or even the costs of replacement parts.

Valuation incase of Theft or Fire

If the classic car is stolen or destroyed, the question arises as to the value of what was “gone”. Here too, a Classic Data appraisal is helpful – with regard to the question of the amount of damage that occurred as well as the value of the vehicle before the damage occurred.

Assessment of Accident Damage

Classic cars are often driven significantly less than “ordinary” everyday cars, but are usually driven much more carefully in traffic. Nevertheless, even classic cars are sometimes involved in traffic accidents – and then it is even more important to have a competent Classic Data damage assessor on hand. In addition to simply determining the damage and the effort required to repair the damage, statements by the expert on the so-called mercantile reduction in value that occurred as a result of the accident are particularly important. This refers to the damage caused by the fact that the classic car or vehicle will have the “blemish” of an accident car in the future and that a lower price may therefore be achieved in the event of a sale.

Scope of Assessment

Short appraisal or detailed report?

The so-called Classic Data short reviews for classic cars are very popular – because they are inexpensive and uncomplicated. However, their informative value is limited and is limited to a mere rough external inspection by the expert. More precise statements about the condition and substance of the vehicle are therefore not to be expected. Therefore, such reports only serve as an “insurance classification”, but not as a basis for buying or selling the vehicle. It is therefore advisable to first base the insurance classification on a detailed Classic Data valuation report, which can then be updated by a short Classic Data report if necessary. Otherwise, there is a risk of a rude awakening in the event of damage.