Appraisal Value vs. Market Reality

[Vett-Less]

Now that I am looking for a C3 when I ask what they would like to get for the vette, most of the time I get the following “It’s appraised at $$$$$”. Who in the hell would pay anywhere close or even half of the appraisal value of an old rotten vette? So how do you set a fair price for a said vette? As I have said on a previous thread I sold my BB 73 for $18,000 CND and the appraised value was $26,500 CND. I sold the 73-BB at a 47% discount vs. the apprised value. So should I discount the appraised value by 50%?

 

[red70vette]

Offer them what you are willing to pay. If that is not good enough walk away but leave your number. You will be surprised how many calls you will get after the seller realizes what reality is.

There is a saying in the car business " you should always ask for MSRP because you would be surprised at how many people say OK". If not you can always start to discount.

Remember if the car is a restored vette the owner probably has more than its value invested and is looking to recover it. You can't blame him for trying.

The car is only worth what someone is willing to pay for it. Make an offer that someone could be you.

 

[1BAD69]

Who in the hell would pay anywhere close or even half of the appraisal value of an old rotten vette?

Hi George...i guess you have your answer already..the guy that bought yours...he paid more than half the appraised value...

 

[Vett-Less]

Hi George...i guess you have your answer already..the guy that bought yours...he paid more than half the appraised value...

Bad69

If you know of any one selling a nice 68 to 73 vette in the Toronto area, ask them to drop me an email at nexxia03@yahoo.com

 

[dlrshort]

Hi, I recently went through an appraisal of my '71 LT-1. It appraised out at $30 K. But the appraiser told me that number is the 'the best of all worlds', that is, finding the right buyer with enough money who really wants your car in a strong market like the spring when every one is dreaming about cruising in a vette.
The reality is that I got 25.5K for the car in spite of all that.

That's why I remain,

Dlrshort

 

[1BAD69]

Bad69

If you know of any one selling a nice 68 to 73 vette in the Toronto area, ask them to drop me an email at nexxia03@yahoo.com

make me an offer...

 

[Vett-Less]

make me an offer...

Even though you have a nice 69, I am looking for a SB I found the BB a horror on fuel, I like crusing and using the vette on every nice day " no garage queen here" I was averaging around 8 miles to the gallon in the city and around 14 miles at a steady 70 miles an hour. Just a bit to costly.

 

[Vett-Less]

Hi, I recently went through an appraisal of my '71 LT-1. It appraised out at $30 K. But the appraiser told me that number is the 'the best of all worlds', that is, finding the right buyer with enough money who really wants your car in a strong market like the spring when every one is dreaming about cruising in a vette.
The reality is that I got 25.5K for the car in spite of all that.

That's why I remain,

Dlrshort

You did well you got very close to the aprased value.

 

[Bob Chadwick]

Appraised value is what the insurance company pays on an agreed value policy. Everybody else pays market value.

 

[hotmtrsports]

dlrshort:

I don't know, if an appraiser came up to me and said the value is only if the sky is blue with no clouds and the white cat has to pass by you at 2m, I'd look for another appraiser.

I think red70vette said it perfectly, offer what you want to pay. If they say no, leave your number. ALWAYS BE READY TO WALK AWAY. There are many out there for sale.

Chuck

 

[Tom73]

Even though you have a nice 69, I am looking for a SB I found the BB a horror on fuel, I like crusing and using the vette on every nice day " no garage queen here" I was averaging around 8 miles to the gallon in the city and around 14 miles at a stady 70 miles an hour. Just a bit to costly.

I have an L82 Auto and a 454 4-speed, both get withing 1-2 MPG of eachother

tom...

 

[tomzss]

Appraisal Value vs. Market Reality

I think you just have to find the right buyer.

I saw Vette-less' 73bb the day after he sold it. I would have certainly paid more than $18000 for it (sorry George) since it was exactly what I was looking for.

But buying has it's own problems. It took me a day to travel to see it only to find it was sold the day before. Like they say, timing is everything.

So if anyone knows of a nice BB C3 in that price range in Ontario, I'm still looking.

 

[Vett-Less]

Tom
Like you said timing is everything. The guy that bought my vette had no intention in buying the 1st vette he saw. His intention was to stop by and kick the tires and educate himself on C3 vettes. I would not allow him to test drive the vette thinking that he was just a tire kicker. I figured what are the odds of some one calling out of the blue and buying the vette after one viewing. He started the engine heard the monster engine run and he said I will take it. The price was fair as my father always said, “a good deal is when both parties don't get what they want" and as the Chinese say one bird in hand is worth more then 20 birds in bush. I wish you all the best in your search. If I do come across a nice vette I will drop you an email.