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Hows this difference in low/average/high retail work?
#1
Now I realize that the true value of any car, or anything else for that fact, is what someone is willing to pay. That being said, I usually use NADAGUIDES to get a rough idea of a cars value but I've always been a little confused as to how they figure the difference between Low, Average and High retail. I understand how to categorize a car to be in the Low, Average or High retail category, what I don't under stand is how these values can vary so much from one car to another in the difference in Low and High.

Here is an example:

My 1973 Mach 1 Q code has a NADAGUIDES low retail value of roughly $12,000 and a high retail of roughly $40,000. The 1967 fastback I was comparing it to has a low retail of $17,000 and a high retail of $30,000. So basically the 67 is worth more in rough shape and the 73 is worth more is great shape. It also was the case with my 64 1/2 convertible. It has a low retail of $14,000 and a high retail of $39,000.

What makes a car worth less in low retail condition and worth more in great condition? Is it that the 67 fastback is worth more in crappy condition because it is easier to find more 73's in crappy condition than 67's and easier to find more 67's in great condition than 73's? A supply and demand thing?

Also, where is the best place to get a general idea of the value on classic cars? Most of the time when I want a realistic value I'll go to eBay completed sales and see what people are actually paying.

Thanks

1965 D Code
[Image: 64-dcode-200x83.jpg]
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#2
I understand what you mean and actually, i have another complain about this kind of general value thing...

First yes... i think what makes a low retail car value more or less is either how common is the car in that condition and/or how much demand does it have... Another factors can affect that and i think this kinda enterprices that work valuing thing may be consider other facts... But in a common sence thought i think the offer/demand is what gives a car the initial value... The more cars in that condition are in the market, the more competitive sell condition exists and that concludes on a price fight and that gives you a lower final price...

I dont think this guys are so much into classic car value per se, they just work with any car in the market the same way, taking into account the same parameters in my opinion... That is why maybe they "mistake" here and there... I personally dont think a 67 fastback worth almost 10K less than a 64 vert...

When it comes to high retail value i just wonder what they search especificly to determine if a car is better than other.. specially in classic cars... Anyhow, for me a simple math is how much does it take to "restore" an specific car, plus the average retail that car has... Here in Uruguay this kinda numbers has nothing to do with our reality of course and that´s something that this kind of enterprices doesn´t specify... In here, there´s no mustang in driving condition that worth less than 20K... even a 1997 or 98 V6 worth that kind of money... Any "classic" mustang that is "restored" (that means shinny paint in my country) worth 30K easily...

Condition in a country that is not USA or close is another issue... In south america we dont have access to NOS parts for instance... We can buy Ebay stuff if the price doesn´t go high than 50 bucks and the shipping always costs as much as the part so, if you apply that in the years of existance of our mustangs it is an easy find that there´s not even 1 mustang 100% original... My 72 is for sure the best mustang in my country because it hasn´t have accidents or engine swaps in his life... You guys have a lot better conditioned cars there and that gives you a high retail diferent than what a high retail would mean in here...

So... if you are in America then this values can be applied but i won't trust them blind in classic cars... If you´re buying a Honda Civic then yes... Those cars are just right to apply a math method to determine the right price... In our cars, any buyier will apreciate certain things and dismiss others... Every car has pros and cons and the right next owner is the one who´s willing to pay what the actual owner thinks about his cars value...



Damián Cool

[Image: 120x45bk1ani.gif]
Vote For 7173Mustangs.Com Every Day!
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#3
Like everything else SUPPLY and DEMAND
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#4
Detector;42971 Wrote:Now I realize that the true value of any car, or anything else for that fact, is what someone is willing to pay. That being said, I usually use NADAGUIDES to get a rough idea of a cars value but I've always been a little confused as to how they figure the difference between Low, Average and High retail. I understand how to categorize a car to be in the Low, Average or High retail category, what I don't under stand is how these values can vary so much from one car to another in the difference in Low and High.

Here is an example:

My 1973 Mach 1 Q code has a NADAGUIDES low retail value of roughly $12,000 and a high retail of roughly $40,000. The 1967 fastback I was comparing it to has a low retail of $17,000 and a high retail of $30,000. So basically the 67 is worth more in rough shape and the 73 is worth more is great shape. It also was the case with my 64 1/2 convertible. It has a low retail of $14,000 and a high retail of $39,000.

What makes a car worth less in low retail condition and worth more in great condition? Is it that the 67 fastback is worth more in crappy condition because it is easier to find more 73's in crappy condition than 67's and easier to find more 67's in great condition than 73's? A supply and demand thing?

Also, where is the best place to get a general idea of the value on classic cars? Most of the time when I want a realistic value I'll go to eBay completed sales and see what people are actually paying.

Thanks
Unfortunately the Nada books are just a GUIDE if you look in the front of the book there are many variables to take into consideration when putting a value on a car. A few are rarity..condition..prior repairs..documented history..etc. As a licensed appraiser for many years I can tell you that there are FEW cars that even come close to being worth what the Nada guides have for prices. Ebay is the worst place ever to get a realistic price on a car..The reason being is that you have no way to confirm that in fact the deal was consummated on a completed auction. Just because it says it's completed doesn't mean the deal went through. I follow ebay & you see the same cars being consistently being re-listed for non payment. On top of that you have a ton of shill bidding going on. The best judge to put a true value on a car is a licensed appraiser with experience in classic cars doing a through inspection appraisal. I laugh when I see the junk listed on ebay where the seller puts in the nada value..It's worthless & means nothing without an inspection..But they all think they have gold based on that book. Read the front sometime..It's a real eye opener.


LOVE OF BEAUTY IS TASTE..THE CREATION OF BEAUTY IS ART
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#5
[/quote]
Unfortunately the Nada books are just a GUIDE if you look in the front of the book there are many variables to take into consideration when putting a value on a car. A few are rarity..condition..prior repairs..documented history..etc. As a licensed appraiser for many years I can tell you that there are FEW cars that even come close to being worth what the Nada guides have for prices. Ebay is the worst place ever to get a realistic price on a car..The reason being is that you have no way to confirm that in fact the deal was consummated on a completed auction. Just because it says it's completed doesn't mean the deal went through. I follow ebay & you see the same cars being consistently being re-listed for non payment. On top of that you have a ton of shill bidding going on. The best judge to put a true value on a car is a licensed appraiser with experience in classic cars doing a through inspection appraisal. I laugh when I see the junk listed on ebay where the seller puts in the nada value..It's worthless & means nothing without an inspection..But they all think they have gold based on that book. Read the front sometime..It's a real eye opener.


[/quote]

What is my car worth, good question. Eventually I will need to get it appraised.
I would never sell the car so its true value is a moot point. Only want to get
out of it what I have spent on the restoration. The higher the value the higher
the insurance. The car has a new interior, substantial suspension work, a new engine with matching casting numbers that match the frame and is period
correct for the drive train. According to Marti, this '71 M-code Grandé with a
toploader was one of one hundred built. So it is rare but rare is a relative term.
"Rare" means nothing if nobody is looking for one.

mike

[Image: 1_11_11_13_11_50_27.png]
  Reply
#6
Unfortunately the Nada books are just a GUIDE if you look in the front of the book there are many variables to take into consideration when putting a value on a car. A few are rarity..condition..prior repairs..documented history..etc. As a licensed appraiser for many years I can tell you that there are FEW cars that even come close to being worth what the Nada guides have for prices. Ebay is the worst place ever to get a realistic price on a car..The reason being is that you have no way to confirm that in fact the deal was consummated on a completed auction. Just because it says it's completed doesn't mean the deal went through. I follow ebay & you see the same cars being consistently being re-listed for non payment. On top of that you have a ton of shill bidding going on. The best judge to put a true value on a car is a licensed appraiser with experience in classic cars doing a through inspection appraisal. I laugh when I see the junk listed on ebay where the seller puts in the nada value..It's worthless & means nothing without an inspection..But they all think they have gold based on that book. Read the front sometime..It's a real eye opener.


[/quote]

What is my car worth, good question. Eventually I will need to get it appraised.
I would never sell the car so its true value is a moot point. Only want to get
out of it what I have spent on the restoration. The higher the value the higher
the insurance. The car has a new interior, substantial suspension work, a new engine with matching casting numbers that match the frame and is period
correct for the drive train. According to Marti, this '71 M-code Grandé with a
toploader was one of one hundred built. So it is rare but rare is a relative term.
"Rare" means nothing if nobody is looking for one.

mike

[/quote]
As many NEWBIES have found out the hard way it's very rare that you will ever see back your restoration cost. Many have also UNDER ESTIMATED what it really costs to truly restore a car which is why you see so many UNFINISHED project cars for sale. It's really a shame since many a restorable car have been turned into pure junk by people who wanted to get into the hobby but once in.. found out it takes deep pockets(even with someone who is capable of doing the work themselves)..dedication & perseverance to do a quality restoration..What is a car is worth? who knows ? as they say "there's a ass for every seat" Don't get sucked in to ebay prices..auction prices..Nada prices..Only the person buying it can truly tell you what it's worth TO THEM.
a perfect example would be me selling my 71 camaro ss/rs I ask 60,000 A guy shows up & tells me I will give you 60 because your car is exactly like the car my dad had & It's his 70th birthday next week I've looked at 20 other cars & I have to have THIS car as a gift to him..Why did I get 60 ? Because to the BUYER it was worth 60 The buyer was well to do & the extra money meant nothing to him vs having the car as a present...You never know what a buyer has in his head at the time of sale.

LOVE OF BEAUTY IS TASTE..THE CREATION OF BEAUTY IS ART
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