Finding Collector Car Bargains

If you'd love to have a '57 T-Bird convertible, a Mach I Mustang fastback, or even an old Model T, one of the best places to find excellent collector car bargains is through local estate or probate auctions.  These are often posted in the local classifieds and may be well worth the visit.  If a professional auctioneer is hired, there will generally be a preview list of some of the significant assets, such as classic cars, that are for sale.

There are many estates in which there is a lot of debt that the estate needs to pay off as soon as possible.  In these cases, you'll find screaming bargains.  If the deceased had a collection of antique cars, the estate might sell them at a fraction of their value in order to generate fast cash.  You might also find a wealth of hard-to-find parts and accessories if the deceased actively restored cars for fun or profit.

Determining the Value of a Collector Car

There are some great online resources to get a quick estimate of the value of a collector car that you are considering purchasing.  The first place that most people think of to get the value of a used car is Kelley's Blue Book, at www.kbb.com.  The problem, particularly if you're looking for antique car values or collector car values, is that the Kelley's online version starts with the year 1986.

Blurb Alert! Find the latest collector car auctions by using the search function on the top of this page.  It will pull up current auctions on eBay, plus great books and other links.

A lesser known but outstanding alternative is NADA Guides, at www.nadaguides.com.  To determine your classic car value, simply type in your zip code, the year and make of the car you are interested in, and accessories.  NADA will give you low end, medium and high end retail values for the collector car.

The value of your collector car will, of course, be affected by the car's mechanical and body condition.  Unless you are an automotive expert, you should see if you can have the collector car inspected by a mechanic.  For example, if an antique automobile has been sitting around for awhile, pack rats may have chewed up the wiring.  There could be serious problems that are not immediately apparent, which is why it is a good idea to have a mechanic take a look.

Ask for the Antique Car's History

Someone who is serious about antique car restoration usually keeps detailed records about the condition of the car when it was purchased, the parts that were installed, and other repairs.  If you're going to buy a collector car or antique automobile at an estate auction or elsewhere, ask if the paperwork is available.  Having the car's history will be important in maintaining your classic car's investment value.

 "Finding Collector Car Bargains" contributed by Marc Smith