If you have a classic car and want to sell it, or you want to buy a classic car, you need to estimate the value of the car. The value of classic cars can fluctuate greatly at different times and between locations. Since the car is not worth anything more than what someone will pay for it, you can never know the actual value until you sell it. However, you can use a few tools to help estimate how much it might cost.
Research how much similar cars have recently sold for. Talk to professional dealers and ask what price they ask for similar cars. Look in car appraisal guides. Purchase car magazines to read the classified advertisements and check the prices.
Inspect the car and determine its condition. Cars are rated as either excellent, very good, good, fair or as a parts car. An excellent car is in near mint condition. A very good car just has some minor scratches or mechanical problems. A good car requires slightly more work, but should still be driveable. A fair car needs substantial restoration work. A parts car can not reasonably be restored. The worse the condition of the car, the lower the estimated value.
Inspect the car for any customization. If you or someone else has customized the car, it loses value. Buyers usually want classic cars to have the parts and options that came with the car. Adding power steering to a Model T is convenient, but it lowers the value for a collector.
Inspect the car and determine if any original optional parts are in it. A car with a stock engine is not worth as much as a car with an optional, super-charged engine, as long as the optional engine was an option available at the time the car was manufactured.
Research how rare the car is in the condition it is in with the options included. Look on the Internet to see how many of the cars were made with those options. Talk to other classic car enthusiasts; they may know about the make and model of the car.
