Vintage Cars: Definitions by age or quality, 67 ford fairlane, antique automobile club

Question
Jeff:  Would you please tell me the definitions or qualifications of an antique, vintage and classic cars?  Most things have to be a hundred years old to be antique, but I understand that's not so with vehicles.  Also if they haven't been overhauled, but still barely run, do they still hold their value or only in the heart of the visionary?  I know you can't price anything you can't see either, but I was told something that barely runs, just like eleven more on my friends property, a '67 Ford Fairlane was given a tax value of over $5,000.  I would appreciate an answer to this very basic question.  Thanks

Answer
I could create an entire WEBSITE around this question, as no one can agree as to just exactly what a "classic" or "antique" vehicle is.  Do we go by a legal definition?  You'll find that all 50 states have a different idea as to what is an "antique vehicle," so you'll find little more than confusing information if you go down that path.  What do the experts say? The Classic Car Club of America maintains a detailed list of what they feel are classics, yet the Antique Automobile Club of America says it's any car 25 or more years old.  So much for them.  To make it even worse, the definitions have been moving targets for some time now; there was a time when most experts agreed a classic was any car built before WWII, but now those same people include all cars built through 1948.  Most everyone today agrees that the original 2-seat Thunderbird is a classic, but 30 years ago the experts called it a "milestone" car, and refused to acknowledge it as anything else.  To me, a classic is any car that added something to the advancement of the automobile industry, either through technology, engineering, cultural importance or styling.  A 1965 Ford Mustang is a classic; a 1978 Ford Fairmont is not, and probably never will be.

As for the '67 Fairlane, I'd need a lot more info.  You state it and eleven more are "on a friend's property," as opposed to "stored in a friend's garage or barn."  Are you trying to tell me these have all been sitting in a field for a number of years, pretty much rotting away?  That does nothing for the value of ANY vehicle, regardless of rarity.  If the model in question is a '67 Fairlane 4-door sedan with few options, then a "field car" might be worth 1/10th of the number you mentioned.  On the other hand, if it's a Fairlane 500 GT convertible with all the right options, then $5,000 just might be a bargain.  But as always, I do not appraise vehicles that I can't see in person, so please don't ask me to in this case.