Thinking of buying a collector car?

 

We recently conducted a Pre-Purchase Inspection and Fair Market value appraisal on this excellent 1956 Ford Thunderbird leaving its owner of 53 years and relocating across the country.

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Whether you are buying a collector car from a dealer or private seller, and have the possibility of bringing in an appraiser to look at the car, it really behooves you to do so.  

An appraiser acts as a second set of eyes that will make sure the car is exactly as described in the dealer’s sales literature or private owner’s claims. An appraiser also functions as an important reality check: reining in your emotions is important to make sure you’re not overcome with the excitement of getting a classic car and end up with an overpriced toy needing more work and money than you’re comfortable with. Additionally, an appraiser can run similar year, make, model, condition and mileage comps that have recently sold to determine the accurate current Fair Market Value (FMV). 

To find a good appraiser, ask for recommendations at local car clubs or classic car dealers.

In addition to hiring an appraiser, you will also be well served by taking the car to a mechanic who can make sure it runs correctly too.  Engine compression and/or leak down tests are worthwhile investments.  Happy hunting!

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Thinking of buying a collector car?