Koederz Karz banner
Home      Rules for Appraisal      Services      Appraisal Examples      Links      Contact Us
  rules for appraisal      

What is Fair Market Value?

Black's Law Dictionary defines Fair Market Value as "The price a willing and knowledgeable buyer would pay a willing and knowledgeable seller, neither party being under duress and both having a reasonable knowledge of relevant facts . . ."

Make sure you know all the relevant facts!

t-bucket racer  

Why have an appraisal?

  • Before buying or selling a vehicle
  • When securing collateral for a loan
  • Diminished value after an accident
  • Collision and repair estimates
  • Estate planning and resolution
  • When shopping for insurance
  • When dividing assets for a divorce
  • When determining import or export duties
  • Donations
  • During restoration of a vehicle
  • To know the true "Market Value" of a vehicle


race car chassis  

There are six grading descriptions . . .

Excellent: Restored to current maximum professional standards of quality in every area.

Fine: Well-restored, or a combination of superior restoration and excellent original.

Very Good: Completely operable original or "older" restoration: showing wear.

Good: A drivable vehicle needing no, or only minor work to be functional.

Restorable: Needs complete restoration of body, chassis and interior.

Parts Car: May or may not be running, but is weathered, wrecked and/or stripped to the point of being useful primarily for parts.

race car body  
Copyright, all rights reserved 2010, Koederz Karz