MILEAGE: For Collector Cars is not very important. Condition is the over riding determinant of value. Mileage may be part of evaluating condition, as for example, a documented low mileage original car. But many collector cars have been restored in the past and in many instances the odometers are set back to zero after a "Body-Off" complete nut and bolt restoration. In many cases it is impossible to get documentation of mileage, and true mileage is unknown.

OPTIONS: Major options and their values are listed as, Adds, or Deductions, Ded. Deductions for Right Hand Drive, RHD, apply only to LHD countries. In England, and other countries that drive on the right, RHD is not a deduction. Adds such as "3X" (multiply by 3) or 60% (increase by 60%) apply to typical performance coupe prices. Add the convertible difference after multiplying or increasing as indicated. Adds or deducts don't apply for features that are standard on a particular model.

CUSTOMIZED CARS: Mildly modified cars may be valued by subtracting the cost of returning them to their original form from the prices listed. Fully customized cars have their own individual appeal and are not priced in this guide.

KIT CARS: These vary so much as to features and build quality that it is impossible to value without a knowledgeable appraiser. Some replicas were produced in fair volume and to set standards and they have a recognized market value. The Shay replica Model A and the Excalibur are examples that have fairly well established values.

PARTS CARS: Incomplete, non-running, or "parts cars" are valued based on the worth of the parts, these are sometimes classified as #6.

CONDITION:The most important determinate of value is condition. Every car must be placed in the right condition category. The most common problem is placing a car in the next highest category. To a non-marque expert, an excellent car can easily be mistaken for a show car. The difference is in subtle and expensive details of originality. Both may have the same level of attractiveness to the untrained eye. Similarly the vast majority of cars at shows are "good" but from 20 feet away can easily be mis-classified as excellent. Be sure the vehicle is properly matched with the price levels as described.

SHOW- A recent restoration, or exceptionally rare well preserved original, of National show quality, rarely driven, usually trailered. Would be judged at 95 points or better at the National level by recognized Marque experts. For a car to be ranked in the show category it needs to have been judged to that standard in a National Show. Just because it is advertised as a body-off, perfect 100-point restoration, doesn't make it true. Only certification from a National show, using "originality" criteria can put a car in the show category. A perfect 100 point National Show Certified car may bring even higher prices.

EXCELLENT- A restored or extremely well preserved original, driven or rare occasions with care, complete and fully functional, a 90 to 95 point car. Would be a winner at many regional meets.

GOOD - Well maintained original or an earlier restoration showing normal wear and aging, presentable, drivable, complete and fully functional. Most "nice" cars are in this category.

FAIR - Essentially complete and functional. Missing no major parts. Suitable for restoration. Paint, chrome and bodywork showing age. Minor body or chassis rust. Drives, but engine, brakes, transmission not perfect.

To monitor the market, the editor attends the Monterey auctions and the Barrett-Jackson auction in Scottsdale as well as several other major auctions each year. These observations are added to the Gold Book database of selling prices from major US and European auctions. This database currently has over 24,000 prices and is linked to the Gold Book listings. A group of Gold Book reporters supplement published reports with first hand observations. These observations are added to the Gold Book database of selling prices from major US and many European collector auctions.

Research into current values is facilitated by a personal Automotive literature collection of 5,000 books and periodicals. Additionally, dozens of market letters and reports are followed to assess the latest market trends. Gold Book numbers are retail values based on actual auction transactions tempered by information from dealers and knowledgeable collectors. Values are maintained in tables linked to auction data and are adjusted to reflect market trends. An element of judgment is applied based on knowledge and experience so that abnormal sales do not distort values.

Values

I got the Condition right, why is the asking or selling price so much higher than the Value Guides?

1. AUCTION PRICE: Sometimes differs significantly from the values reported here. But that's what auctions are for, to get two determined and flush bidders wanting the same car. The results can be way over the auction house or value guide estimates.

2. ASKING PRICES:Especially from dealers will usually be higher. Asking prices are not selling prices. Hemmings and the local paper are full of ads that sometimes run for months, with hopelessly optimistic asking prices. Many of these high prices are based on what the person has "invested" in the car and its restoration. These costs have little bearing on market value.

3. CELEBRITY OWNERSHIP: Sometimes it strikes a cord with buyers and huge amounts are paid because of past ownership. Clearly ownership by well known or historically important people add more value, than ownership by an obscure English Lord. Well known provenance can also add value.

4. ORIGINALITY: Completely original and well-documented cars have sometimes found a market well above predicted values.