Posted by: Phil's Classic Chevys | February 11, 2012

Determining the Value of the 1957 Bel Air Convertible – Part Two, Preliminary Valuation

After determining the condition of the Bel Air under the guidelines of the two pricing guides, it’s now time to put a number on the car.

Let’s first take a look at the NADA Guide.

According to NADA, the High Retail Value of a 1957 Bel Air convertible is $96,000.  The car is equipped with the “Power-Pack” option, which adds ten percent,  for a total of $105,600.  For future reference, the Average Value of the Bel Air is $66,600 according to NADA.

Now, looking at the “Old  Cars Report Price Guide” a 1957 Bel Air convertible in Number 2 conditiion is priced at $71,050.  This price guide adds fifteen percent for the “Power-Pack” option for a total of $81,700.  A Number 3 car is priced at $52,530.  

Summarizing, based on the condition of the car as previously determined, the maximum value of the Bel Air ranges between $81,700 and $105,600.  Since an honest appraisal puts the car somewhere within the chosen condition range but not necessarily at the top in all criteria, it is worthwhile to look at the next lower category which ranges from $52,530 to $66,600.  So, stepping back and realistically looking  at the numbers in the reference sources and a less biased opinion of the car, the actual market price is probably best seen as the average of the two condition values or $67,115 to $86,100.

We are closing in on a value for the car, but some additional information will be needed to arrive at an accurate final market price.  Next we’ll research reputable classic car websites and auction results to see if our range is realistic.

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