<Corvette Magazine
discrepancy
in perceived value," said appraiser Tony Monopoli. "An appraiser’s
job is to provide adequate proof of his findings to convince a deciding party,
whether it's a judge, insurer, lender or the IRS of a vehicle’s worth."
That appraisal, plus documentation, is essential to justify the claimed value
of any vintage Corvette. Even the members of the C5 Registry are aware that
the future value of their cars will be determined by documentation.
Choosing an appraiser should be done with the same
prudence as you would select an engine builder or a restorer. The credibility
of the appraiser will go a long way in determining how much your Corvette was
worth in the event of litigation or valuation. Ask for references to determine
the appraiser's past work and speak with his customers.
Many collector car insurance policies require an appraisal
only when the owner wants to insure the car for more than the insurance company’s
"threshold." Insurers use threshold policies for several reasons. The market
for collector insurance is very competitive and insurers tend to limit losses
on collectors in times of
The
engine and engine compartment are carefully examined and all numbers are checked
to verify they match. These numbers include not only casting and date codes
on the engine but also on the alternator, radiator and even the power steering
box.
