Book values are, by and large, not applicable to classic cars, hot rods, etc. because the variance in such prices is simply too great to make average values meaningful (not to mention that the distribution of sale values is likely not normal). IMO, the best way to "valuate" a car is to examine the "asking" price of known cars (i.e. you need to see and inspect cars that are for sale) and link that with actual selling prices of the same cars.
Here's an example...I saw a '70 AAR 'cuda at the Daytona show this weekend listed at $68K!!!! The information sheet said that the car was "fully restored". Well, I can tell you that there were problems with that car that showed the restoration was poorly done or old or both. For example, the doors sagged relative to the rear quarters. The tail panel was not aligned properly. The decklid was poorly aligned. The chrome on the interior roof light bezel had rust pits. Geeezzzzzz....for that money, I would expect the car to be much "tighter" than it was! Of course, some might argue that the alignment issues and such "replicate" how the cars came from the factory...to which is call BS! If you are doing a complete restoration, that stuff needs to be spot on. Survivor cars can get away with runs in the paint and misaligned body parts, but not "restorations". Heck, there was a tor-red '70 'cuda FS, don't know how much the asking price was, where plug welds weren't ground flush, the tail panel had a rot hole, the rear valance was wavey, and the trunk extensions had sheet metal screws attaching them to the lower quarters!!!!!! The car looked great from 10 foot, but those things show you that the "restoration" was done by a hack!
Also, remember, the ASKING PRICE is typically NOT the SELLING PRICE! Don't get fooled into thinkning that the asking price of cars in the classic autotrader represent the actual value of these cars! Many cars are listed for months before the sellers give up and either drastically lower the price or just say, "If I can't get what I want for the car, I'll keep it!"
My
