Classic Auto Appraiser

The Right Appraiser

For the majority of us, our collector car will be the second most valuable asset that we own right behind our home, for many others their collector vehicle will be the most valuable asset that we possess. Finding someone that can accurately calculate and document a value for that collector vehicle is absolutely vital in order to properly protect that asset.

Remember, when you have your car professionally appraised for whatever reason, you are buying more than just the paperwork in that appraisal document, you are also buying the reputation, credibility and most important of all the experience of the appraiser that you hired.

Remember, the appraisers responsibility does not end when he or she hands you the appraisal document, on the contrary, they also have the responsibility to back up that appraisal document perhaps years down the road when the value of that vehicle comes into question after an insurance claim, dispute or one of the many legal situations that might question that value.

The first thing that you should look when choosing an automobile appraiser is for an appraiser that has been in business for at least 10 years. The car appraisal business is one of those businesses in which a lot of people enter into it thinking that it is an easy way to supplement their income or write off their car hobby, but soon realize that it is not that easy and quietly quit leaving you with a worthless document. You need someone with a track record, someone that will more than likely still be in business a few years from now in order to back up his or her documentation when and if you need it.

Before hiring anyone to appraise your collector car, unless you have used them before or already know of that person, always, always ask the actual person that is coming out to inspect your collector car to either fax or email you their own personal resume if it is not posted online. If you're not completely blown away with that resume or if it shows less than 10 years experience in the field appraising cars, keep looking!

If the appraiser claims to be a 'certified appraiser', ALWAYS ask how long ago they were certified, and who certified them. Ask for the resume of the appraiser that signed the certificate. Remember, a certificate signed only a year ago by someone with little or no credibility is just a worthless piece of paper.

When I started appraising cars back 22 years ago, realizing that it was the only way to properly learn the business, I took a one year long apprenticeship with what was then one of the largest appraisal companies in California. I was formerly trained to appraise every type of automobile possible, as well as attending several binding arbitrations and court hearings before I called myself an appraiser.

Just think about this, your one hundred thousand dollar '40 Ford Coupe Street Rod is wrecked or stolen a few months after it was appraised, the insurance company, as they obviously will, now take a really close look at the appraisal document that you previously handed them before writing you out that big check. They now hire their own expert to look over your appraisal report or, if this imaginary '40 Ford Coupe was wrecked and still available for inspection, they will travel to it and now take a close professional look at whatever remains of your Street Rod.

If the expert hired by the insurance company comes up with a lesser value for that wrecked or stolen '40 Ford Coupe, you have a serious problem. Your appraiser will be asked to participate in either a legal binding arbitration, or perhaps in a proper court hearing as an expert witness. I think you can see where I'm going here, if your part time appraiser did not serve a professional one year long apprenticeship in order to properly learn his trade or if he or she has only a year or two's experience, when his or her report is compared with an appraisal document compiled by a true expert that has appraised 10-20 vehicles per week as a full time job for the past 10 or 20 years, obviously the judge or jury will be very skeptical of the validity of your appraisal report, and you will no doubt lose the case!

Let's imagine that the appraised value this hypothetical stolen or damaged '40 Ford Coupe Street Rod is disputed by the insurance company, as they often now is in this tough economy. The adjuster will no doubt ask your appraiser "What qualifies you to be able to put an accurate value on this automobile"? We all know the truthful answer to that devastating question, "just a few days of formal training on a handful of vehicles as well as little or no experience"!

The end result will be that you just lost your case, your car and your money! On the other hand, if your award winning classic or customized car had been inspected by Classic Auto Appraiser, we could have absolutely dazzled the opposing council with an absolutely unparalleled resume.

If you're looking for someone to accurately inspect an appraise your prized automotive investment, make sure you find someone experienced and qualified, obtain their resume and, don't just believe what they have written on it, ask for referrals, make phone calls, and check them out thoroughly. Remember your car may depend on it!

1. How long ago were you formally trained to appraise collector vehicles?
2. How long was the training process?
3. Who trained you?
4. What experience did your trainer have?
5. How long have you been appraising collector vehicle?
6. Is appraising collector vehicles your full time job?
7. Will you be the actual person compiling the appraisal report, or will you be passing the information that you have collected onto someone else?
8. Will the appraiser that inspects my vehicle be the same person that researches, compiles and prints out my appraisal reports?
9. How many insurance arbitrations have you participated in?
10. How many times have you been cross- examined on the witness stand when giving expert testimony concerning appraisals of collector vehicles?
11. Can you give me the names and contact information for some of the lawyers that you have been retained by?
12. Have any articles been published about you and your appraisal services in any national automotive magazines?
13. Can you give me the names and phone numbers 6 well known restoration shops or custom car builders in your area that I can contact for your referral?
14. Finally, can you please fax or email me the resume of the person that will be inspecting my collector vehicle?

 

Remember, your collector car is one of your most valuable assets, just as you wouldn't hire a lawyer, an accountant, a doctor or any other professional person with minimal training and limited experience for an important task, don't hire a part time amateur to evaluate your automobile!