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Our nationwide association of appraisers is made up of very experienced automotive hobbyists who also are automobile appraisers. As a group we specialize in appraising antique/classic/collectable vehicles. Some of our Certified Appraisers also do Diminished Value, Fraud, and Lemon Law appraisals. All of I-VAN’s Certified Appraisers guarantee no conflict of interest because we do not: restore, buy/sell, paint, fix, transport, export, or insure, etc any old cars for a living…we are hobbyists first and foremost - we own the types of cars we appraise. Why Have Your Vehicle Appraised?1) Insurance: Protect your
investment of Time and Money. There
are a great many insurance companies that will cover your collector car with
Comprehensive and Collision coverage. However,
many will tell you that your vehicle will be covered for “actual cash value”
or “book value” (ie: they decide what your vehicle is “worth” at the
time of a claim) unless you provide an appraisal.
The best way to be sure that your car is protected properly is to have a
professional appraisal on file with your insurance company and have an
endorsement to your policy indicating the type and/or amount of coverage your
vehicle has. Not all companies
offer this coverage; however, our appraisals are accepted by all insurance
companies that do offer this coverage. Our
appraisal will also be of immense help if you’re hit by the driver of some
other insurance company or if that driver is uninsured.
Without an appraisal an unqualified person who is unfamiliar with your
vehicle may be determining how much you’re going to collect at the time of a
loss. Important: did you know that
during restoration in your own garage your vehicle is NOT covered for fire/theft
under your homeowners policy? (only your automobile policy protects your car) Protect
your investment! 2)
Selling
a Collector Vehicle: An appraisal can be a tremendous help when selling a
collector vehicle. First, it
eliminates a lot of haggling or “negotiating” because the vehicle’s market
value has been established. Secondly,
offering the vehicle for sale at 5-10% below the appraised value makes a
prospective buyer think he’s getting quite a bargain.
Third, a qualified buyer can use the appraisal to get a loan from his
bank, and other lending institutions, to assist in buying your vehicle (many
financial institutions will loan up to 80%
of our appraised value). 3)
Collateral: The value of your collector vehicle helps to increase your
“net worth”. One of our
appraisers used his 1935
Lincoln V-12 seven passenger sedan as partial collateral to build a house. 4)
Donation/Gift: The IRS requires an appraisal for any gift to a charity or
eligible museum, etc. Further, the
appraiser must complete and sign the appropriate IRS forms before you can take a
tax deduction for your donation. We
have helped many museums and charities receive vehicle donations and helped the
donors receive their proper tax deduction with the correct paperwork. 5)
Estate: Because your collector vehicle has value it is part of your
estate. Our appraisal helps prevent
your heirs from being “ripped off” when they try to sell your vehicles).
It will also help your heirs determine how to divide your estate fairly.
Larger estates facing estate taxes can protect against overpayment of
taxes. 6)
Divorce: Yes, the “D word”. Don’t
ever let a court or some attorney determine what your vehicle is worth. 7)
Buying
a Collector Vehicle: A pre-purchase appraisal could protect you against overpaying
for a vehicle. It can also make a
seller more reasonable in the asking price.
Our appraisal establishes the loan value if you’re going to finance part
of this purchase. 8)
Claim
Settlement: If you’re arguing with an insurance company over the value
of your vehicle after a loss then my appraisal NOW can be a big help.
It’s not as easy to appraise a vehicle after an accident, fire, etc but
it can be done if not too much time has gone by. 9)
Fraud: Did you buy a vehicle “sight unseen” or over the internet
and, when you received it, believe that you have been cheated?
Our appraisal can help build your case.
Did you buy a vehicle because the owner said “matching numbers” and
find out later that it’s not? Was the vehicle advertised as having never been in an
accident and you’ve discovered otherwise.
Did you discover flood damage? 10)
Substandard
Restoration: Did
you pay for a prize winning restoration only to find out that the only prize you
will win is the “booby prize”? Does
the paint come off in the rain? Is
the chrome peeling three months later? Collector Vehicles Appraised Last Month
Other Recent Collector Vehicle Appraisals
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