fair value of 59

[Nathan P.]

I don't know if this is the place to be asking this question and I don't mean to offend anyone but here goes. My wife and I seperated 1 1/2 years ago and at the time she told me that my 59 vette would not be a part of it because it belonged to my brother and I should keep it on my side of the family well you all know what happened next now that we are actually getting divorced, which brings me to my question how do I go about getting a fair value on my baby.

[Robert B.]

Re: fair value of 59

Sorry to hear about your problems, but I don't think its very expensive to get a certified/licensed appraiser to fix a value. Just be cautious as I believe they tend to appraise a little high. I'd tell them what the appraisal is for.

Someone else might chime in on an appraiser that they could recommend in your area if you mention where you are from. Good luck!

[Kenneth B.]

Re: fair value of 59

Sounds like her friend or lawyer got to her. It happens all the time. Call a Corvette dealer & ask what the will pay for the Corvette. The price to split is what the car is worth in a fire sale not what a pie in the sky appraisel would be. It's only worth what someone will pay now. GOOD LUCK You will need it. Many of us have been down that road.

[Terry M.]

Re: fair value of 59

The most recent issue of Hemmings Classic Car has a article on this very issue. October 2012 Page 16. The piece is by Lawrence Savell and called The Explored LaSalle.

He cites a decision of the Appellate Court of Illinois regarding a court case filed December 23, 2011. The dispute was over the value of a 1929 LaSalle. At the initial divorce hearing the husband testified to the value of the car as $20,000. The husband's experience of following the market value of old cars for 35 years and purchasing the LaSalle for $12,000 in 1997 lead to the 2011 valuation. The wife provided no counter evidence, but subsequent to the lower court's decision that agreed with the husband's assessment she appealed stating the lower court should have ordered the car sold and the assets disbursed.

The Appellate court upheld the lower court citing the husbands experience and the lack of counter testimony from the wife at the time of the lower court hearing.

Since all this was in Illinois if you live in another state you would need legal counsel to tell you if any of this applies to you. In the mean time I would suggest you get some "expert" evaluation -- either an appraiser or an offer from a local Corvette shop. You might expect your wife to get some expert evaluation as well, especially if she does not agree with your evaluation.

I am not a lawyer, and do not offer legal advice, and I didn't stay at a Holiday Inn last night.

[Paul J.]

Re: fair value of 59

Guys, I think Terry is the only one who noticed that Ronald lives in Alaska. I'll be surprised if he can find a knowledgeable appraiser close by, or a dealer that knows anything about a 59 Corvette.

Ronald, try the sites listed in Post #2 in the link below. They'll give you some ideas of the value. Be sure to study the pictures and descriptions carefully. The value changes greatly depending upon condition. In addition, remember that the sites that are selling cars are listing the asking price.

https://www.forums.ncrs.org/showthread.php?81584-What-s-it-worth-and-what-to-look-for&highlight=sales sites&uid=7896

Paul

[Terry M.]

Re: fair value of 59

Guys, I think Terry is the only one who noticed that Ronald lives in Alaska. I'll be surprised if he can find a knowledgeable appraiser close by, or a dealer that knows anything about a 59 Corvette.

Ronald, try the sites listed in Post #2 in the link below. They'll give you some ideas of the value. Be sure to study the pictures and descriptions carefully. The value changes greatly depending upon condition. In addition, remember that the sites that are selling cars are listing the asking price.

https://www.forums.ncrs.org/showthread.php?81584-What-s-it-worth-and-what-to-look-for&highlight=sales sites&uid=7896

Paul

Actually Paul, I didn't notice where Ronald lives, but that certainly will complicate his options depending on where in Alaska he lives. Not all of that state is wilderness. I merely wanted to share the guts of that article that seemed so appropriate to the discussion and to point out that he needs some concrete basis for his evaluation.

[John F.]

Re: fair value of 59

I agree with above to take to the nearest Chevy dealer. See what they will give you right now. Sell it to them for that price, take your half of the settlement, then try to buy it back if you want it that bad.

[Donald H.]

Re: fair value of 59

Take a look at Hagerty Insurance website. There is a tab at the top labeled Valuation Tools. This tool provides a valuation over time for a selected vehicle. It will at lease provide somthing that may be more realistic that what your wifes lawyer might come up with. And it is from a recognized organization.