Advice for dealing with Antique Vehicle Estate

[Guest AlCapone]

just remember the Internet ( and this site ) is full of experts and self professed experts that don't know sheep sh*t from licorice balls. I would spend the money on a licensed appraiser who is recognized by the insurance industry. Wayne

[CarlLaFong]

I think, for simplicity and ease, eBay is the best bet. Despite all of the detractors and nay sayers, You will get fair market value on any car that you sell there. This is not to say that there will be a successful sale every time. Sometimes items don't meet reserve. Just get a good feel for what the cars are worth and set your reserve accordingly. A few hours of research will give you an idea of what your cars are going for in today's market. While I do not have the experience of many of the folks here, I have had quite a few eBay transactions, including selling almost all of my cars and bikes. Never a problem and I got a fair price for each one of them. You can fiddle fart around with appraisers, auction houses, self proclaimed experts and the like but, for each one, that is money that you can deduct from your bottom line. If you have something extraordinarily rare, like a Duesy or a Bugatti, then expert help may be required. For ordinary cars, I would take the DIY approach.

[victorialynn2]

Based on everyone's very much appreciated advice, this is the plan:

1) Go through cars one by one with dad including his documentation, looking for associated parts , etc. make extensive notes and record any provenance or other knowledge he has of them. My dad will enjoy this as he is happy I'm taking an interest in an important part of his life.

2) Attend local car shows and continue to research here and other sites to gain knowledge of industry.

3) See if he can get them running or hire someone to help. Clean them up. (Lots of experience here. Lol)

4) Research solds on eBay and other sites to get a baseline value. (While teaching my 79 year old dad to use an iPad. ). View currently active sales to gauge competition.

5) Post here for additional feedback with complete info and good photos.

6) Evaluate info to either establish insurance/estate value or reserve price.

7) For ones to be sold, post on eBay with appropriate reserve, post link eBay here if allowed or without link, network with locals, people he knows, to market car and locate potential buyers. Not necessarily in that order.

8) For ones he won't sell, this will be invaluable info to be updated when the time comes to settle his estate. Update insurance if necessary.

9) Follow a similar process for his parts, tools and real estate.

10) Write a book on my experiences with dealing with elder abuse, dementia and settling estates such as this to create awareness. (Ok, I'm kidding about this but I may create a memoir for my family and to remember this special time with my father. I have relocated to the middle of nowhere, 2000 miles from family and friends, am putting my career and the rest of my life on hold for this, so I have plenty of free time. I wouldn't have it any other way.)

Anything I missed? Thank you all for your help and I hope I have your continued assistance to help make the rest of my fathers life as enjoyable as possible while doing my best to preserve his (relatively small) estate should he need it for his care in the future. (Which is very likely.) I hope to meet lots of interesting people along the way and engage in lots of mutually beneficial transactions.

God Bless

Edited October 13, 2014 by victorialynn2 (see edit history)

[Harold]

One item that hasn't been mentioned is that you should consult with an eldercare attorney about financial strategies for your father's future. The last thing you need is for the IRS or another government agency to come in and decide that he (or his estate) owes a lot more money than you think. It's a sneaky last shot at grabbing people's wealth and many people have been unpleasantly surprised when it happens.

[victorialynn2]

Hi Harold. Good point and I have retained one who specializes in this and comes highly recommended.

[nick8086]

http://books.google.com/books?id=6irIRsyozpAC&pg=PA248&lpg=PA248&dq=1953+kaiser+dragon+price+guide&source=bl&ots=M59s6nltPb&sig=RAVjRzY3hvDyeUDHwRbCEfxkYw8&hl=en&sa=X&ei=kkq7U9H7KOXC8QGJioHQAw&ved=0CCYQ6AEwAjgK#v=onepage&q=1953%20kaiser%20dragon%20price%20guide&f=false

You could pick up this book..

Scroll to the top..

Edited October 14, 2014 by nick8086 (see edit history)

[Guest AlCapone]

Yes she could buy the suggested book but does she have the automotive knowledge to assess the category of condition ! I doubt it and I don't believe it is doing her father justice to place the burden of evaluation. On her shoulders. I can buy a medical book and attempt to evaluate my medical condition but I don't because I know a trained professional doctor is better qualified !

Wayne

[nick8086]

I don't have the automotive knowledge. But I do like this book.

[victorialynn2]

My father does subscribe to that publication. Also, I just paid a mechanic to go through my personal car before it was driven 2000 miles to where I am. I am sure I'm competent to pay for one to check out the cars if my father and I find it necessary.