Quote:
Originally Posted by Truetriplex
How does one go about determining a value to a kit car? I am concerned about having an appraisal done when there are so many variables. I have not found a source (similar to Kelley Blue Book or Collector Car Value Guide) that can help in this regards.
I am putting together a kit (Unique) using an original 65 427 side oiler with a HEH-BY toploader, original gauges, proper carb and distributor, and all the other items to keep the car as authentic looking as possible. Once I am done, for insurance purposes, how do I determine a fair value to the car? This is a very highend restoration.
Suggestions and input are very welcome
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I get asked this question at least once or twice a month. The bottom line is that regardless of what you have in to it, the replacement value will be dictated by the sum of the parts, plus the physical condition of the car, along with the quality of the build. Value does not get placed on having more original parts than another Cobra replica, and each car is appraised and valued on it's own merits. So, with that said, keep every receipt, every document, and when you are absolutely finished with the car, pay for a proper insurance appraisal. Then remember that the insurance appraisal is not a current (within 2-3 months in this case) market value, just the replacement value for insurance purposes only.
Hope you find this helpful.
Bill S.