Best way to tell value

[Guest twoska]

I looked at all the sites that list values (low/middle/high) like nada but there is such a difference in what they say. What is a good guide to go by? I looked for similar cars for sale. Is that a good way to go?

My dad passed away. He had a 1967 Buick Electra 225 convertible in decent, not great, shape. Interior was just redone. I would like to know what the market value is (or anywhere close) so I can purchase it from my mom or let her know so she can sell it.

Thanks for the help. This is a great resource.

She wants to sell either way. If I could give her a ballpark that would help her. I will take pictures this week and post them. Thanks

Edited September 22, 2010 by twoska (see edit history)

[Thriller]

Sorry to hear of your loss.

One of the issues with price guides is that they are guides, not a definitive answer. Different methods, condition ratings, and sources result in the guides being different.

There is a magazine type published called Old Car Reports Price Guide. I have the August issue.

#1 - $26000 - this is basically a perfect show car that rides in enclosed trailers

#2 - 18200 - among the nicest cars you would generally see

#3 - 11700 - good condition, everything works, but not perfect

#4 - 5200 - generally functional, but clearly needs work - proverbial 20 footer

#5 - 3120 - restorable car, definitely not just a parts car

Again, this is another guideline to use. If you pick up a copy (generally major book stores), there is a more detailed version of the condition guide.

There are also local and regional issues that come into play. For instance, the same car may command more money in a large city where there are potentially more buyers than compared to an isolated rural environment, depending in part on how it is advertised.

The best way, particularly if there are other family members involved, would be to spend a bit of money (probably under $200) to have the car appraised. If you go this route, ensure that the appraiser knows you are looking for fair market value, not an inflated price for insurance purposes.

Good luck.

[Dave Mellor NJ]

That is good advice,Derek. Just don't go by what you see on TV or you'll be sadly disappointed

[Guest twoska]

Thank you.

This is good advice. I'll try to find a local appraiser. I will post some pics this week too.

[joe_padavano]

The problem with these old car price sources is that with a few exceptions (Camaros, Mustangs, Tri-five Chevies, etc), there really aren't enough cars sold to get a statistically valid price model, particularly with all the various models and options for a particular car line. Add to that the fact that the majority of this data comes from auctions, which are not the real world. As noted, use them for a guideline only, particularly if you have an unusual or relatively unpopular model.

I like to check Ebay for completed auctions, since the price only matters if cash changes hands. Asking prices are irrelevant. If you go to the "Advanced Search" function on Ebay, you can search for completed auctions, which gives you items sold in the last 30 days that meet your search criteria. One thing I've noticed when doing this with Olds 442s is that the high dollar cars rarely sell and even if they do, they are often relisted a week or two later.

[JZRIV]

I never use the price guides because they are often incorrect when it comes to Buicks.

Like Joe mentioned, start watching ebay's completed auctions for similar models that sold and you'll begin to get an idea. Check the ones that don't sell and see what the highest bid was.

There are a lot of variables that will affect the value. A solid mostly rust free body will be the biggest benefit......or the worst enemy of price if its rusty.

[Guest my3buicks]

If time is on your side, watching ebay for similar cars is a good guage of what your car is really worth. Check past auctions also.

You can also list your car on ebay with a high reserve and see where it ends up, if you list it a couple times and it bids to about the same figure, then you can pretty much figure that is the cars TRUE value. You will have a little in listing fees but it could be money well spent.

[60FlatTop]

The best thing to do is spend the money for a knowledgeable appraisal. The car will sell quickly when priced right.

Fishing for a price or asking for offers in most cases scares off the real buyers. The bottom feeders show up and low ball an owner into depression. I have seen a lot of "inherited" cars rot into the ground due to uniformed pricing.

As for the TV auctions, I will stick to watching professional wrestling. There is more reality in the wrestling.

Bernie