If you’re the proud owner of a vintage model or desire to be one, understanding how classic car valuation works can influence decisions linked to your investment.
One way or another, purchasing a classic car is an investment. For some, it represents a lifelong dream and a big item on their bucket list, while for others, it’s approached pragmatically as a long term tool for wealth generation. Either way, there’s a special little kick that owning a classic car delivers and can only be explained properly by those who have one in their possession.
According to Money Mag, investing in cars is an asset class that has quietly risen 467% in just ten short years. As many have seen, vehicles can double in value in as little as twelve months providing that you choose the right model and the condition that the vehicle is in. However, just because a car has a few years on the clock doesn’t mean that it’s a worthy investment. A classic car can range anywhere between a few thousand dollars and a few million, so understanding the process of classic car valuation is crucial when both buying and selling these types of vehicles – but how exactly does one go about it?
The Process Of Evaluating A Classic Car
The classic car market in Australia has low spreads and volatility, but with high liquidity. The prices are barely affected by supply and demand, as there’s simply not enough of these vintage vehicles still around, especially those considered to be of both high value and high quality.
Although the concept of classic car valuation can seem intimidating and daunting to some people, the good news is that it’s actually quite straightforward. By definition, a valuation is an estimation of the monetary worth of something, especially one carried out by a professional valuer. In contrast, evaluation is the process of actually doing so. Instead of making financial decisions based on guesswork, undertaking a classic car valuation can give both buyers and sellers all the information that they need to make smart and savvy choices while still allowing room for their shared love of classic cars.
As a starting point, many classic car lovers often turn to online classified sites such as CarSales and Drive to conduct a wide variety of research, such as cars listed for sale, where they’re located, and an approximate price guide. While these sites also offer free car market valuation services, be warned – they’re only an estimate.
Lots of factors go into determining a car’s value, such as the make and model, kilometres, engine type and more. However, the condition of the classic car in question is a hugely influential factor in determining how much it’s truly worth, which is something that a free online calculator simply can’t factor in. Thus, if you’re serious about classic car valuation, it’s worth enlisting the services of a professional car valuator to physically take a look at your prized possession in person. Not only are they experts in their field, but they can provide you with invaluable information that may influence your decision to buy or sell.
How To Get Your Hands On A Classic Car
Meeting a fellow vintage auto enthusiast can feel a bit like finding a needle in a haystack, but rest assured that Classic’s Garage understands the thrill more than most. Having spent forty years collecting anything and everything from matchbox cars to hub caps, he’s successfully followed his passion to source, collect and stock beautiful and low mileage classic automobiles from around the world. With extensive experience in the automotive industry, it was only a matter of time before Wayne expanded on his love of vintage, iconic vehicles to share his knowledge and passion with the public.
Although his passion is for automobiles built before 1978, with a particular love for Buicks, Cadillacs, Lincolns, Oldsmobiles and even Fords, Wayne is just as passionate about the stories of the owners. Just like the cars, he has found that his fellow classic car enthusiasts all have wildly different attractions and logic behind their passion or hobby, and this often translates into how the car is presented. If it’s even remotely different, rare or just plain unusual, Wayne will overcome the relevant logistical and geographical challenges of bringing the cars to his showroom in Australia.
Classic’s Garage is a showroom conveniently located at Seventeen Mile Rocks, that specialises in the restoration and sales of vintage automobiles. In fact, he’s got a medley of fully restored models in stock right now, which can be viewed online via Wayne’s Collection. If you’re on the hunt for Brisbane classic cars – quite simply, Wayne is your man. If you would like to arrange a viewing or inspect any other of our classic vehicles, please get in touch with us today.