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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1937 Cord 812 and Its Political History 1937 Cord 812 and Its Political History

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The world’s most expensive car is at the center of a High Court battle between a dealer and an American collector, as a judge must decide who is entitled to the $48 million vehicle’s gearbox. Gregor Fisken, 55, a London classic supercar trader, bought the 1962 Ferrari 250 GTO in October 2017 on the understanding that its missing original gearbox would be sourced. However, when the seller, Bernard Carl, a Washington lawyer, failed to hand over the part, Mr Fisken sued for breach of contract.

What kind of auto insurance is right for you? What kind of auto insurance is right for you?

Daily driver (Stated Value) insurance is well suited for your daily driver car that is depreciating in value, but your custom or restored collector car that is going up in value, needs different (Agreed Value) insurance coverage. Do NOT lump your daily drivers and collector cars on the same policy! In the event of a claim for your collector car, you could be greatly disappointed!

Buying a pre-owned Porsche in Florida? Buying a pre-owned Porsche in Florida?

Search for it in one of the largest pre-owned Porsche markets in the world: South Florida. Roads always in great condition! No winter, snow, salt or sand. OK, there is sand on the beaches! When you find it, but before you buy it, get a pre-purchase inspection and appraisal! Call/text 786-853-0711

1969 Lamborghini Miura P400 S sells for $1.6 million in London 1969 Lamborghini Miura P400 S sells for $1.6 million in London

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Total Loss 'Supercar' in South Florida. Settlement is $4.7k higher than Ins. Co. offer! Total Loss 'Supercar' in South Florida. Settlement is $4.7k higher than Ins. Co. offer!

Is the Audi R8 a 'Supercar' or not? The debate still rages! If it's 'Totaled' in an accident in South Florida the insurance company may delay, deny or underpay your claim! Be aware of the 'Appraisal Clause' in your auto insurance policy! Get a Prior-to-loss Fair Market Value Appraisal and receive full compensation. Text/call 786-853-0711 for details.

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Thinking of buying a collector car?