The only way to establish value is by comparing like examples sold in last 3 years factoring models, conditions, and locations into establishing your baseline.
I've used both successfully in conjunction with one another for things hard to get a market value on. If I have unusual or rare automobilia I want to sell, I make up a number I think it's worth and would be happy getting for it. I then put that number as the reserve on an auction and wait to see what happens. If the item goes through a few auctions unsold, I can use the highest bids as an indicator of estimated value. If bidding meets the reserve or goes over, the selling price is a new benchmark. I've only done this twice with professional cars, but both times my reserve was met, so I was happy to get better than what I thought they were worth. And there may be better ways, but this has always been pretty successful for me.Should I take it to eBay to establish the price, or do I reach into the thin air and pull one out?
First, the term invest insinuates intelligent cautious money decision making ability. Many people spend money illogically on cars and/or improvements than become dumbfounded later. Spending is different than investing.
Is there a "blue book" or such for the value of todays pro cars? How would one know what value to place if one were buying or selling?
Pretty much, yes.thanks for reply's. Maybe since their are pro car experts on this site, how about doing a combined effort on the Pro Car Estimated Value book? With a combined effort from people that have bought and sold, and keeps up with the trends from other auctions or something they have seen sold, could have a section on here that helps with a price or general estimate.
Of course there are always exception to the rules, and it changes by the minute, but I just think it might be a way to keep track of what the trends are on the price of todays market. If it was laid out like the Ambulance Mfg Assc, book, where its made up of the major coach builders, and years, and options, I would think it would be interesting and helpful. Of course it would be subject to ones interpretation of value or investment. Is this just a can of worms idea?
A lot has to do with the quality and number of pictures that are posted with the auction, along with the description of the vehicle. I have seen auctions where the seller refers to a minor problem, and then says it can be fixed easily and inexpensive. If that is the case, then why not fix it, and you don't have to mention it as a negative for the vehicle. The real reason is that it isn't easily repaired or the part is scarce, and costs a lot when you find one. I have seen many a description that I stop reading half way through because I know for the description that the car is a "pig".
Some of the best descriptions and pictures that I have seen for Professional Cars have been auctions by Bill Marcy. They are accurate, honest, and to the point, along with good pictures.
Sounds just like my wife!
What an amazing, sharp, analytical, resourceful, prudent, wily, logical, and grounded person she must be. How did you end up with her..?