What does a valuation report actually mean? This is a report drawn up by a recognized appraiser. You can compare it with your appraisal report when buying a new home. The recognized appraiser reviews the entire state of the modern car, youngtimer or oldtimer. They’ll look at the interior and exterior of the vehicle. The condition of the subframe / frame and the sheet metal.
They’ll also look at the technical condition of the vehicle (modern car, youngtimer, oldtimer). The history of the car and upgrades are included in this report.
The valuation report will also state if the vehicle has matching numbers. Meaning that is has been checked if the gearbox and engine are original to the vehicle. This is very important information from an investors point of view.
The valuation report is an official report and indicates the current value of your modern car, youngtimer or oldtimer.
Let's say you have an oldtimer or youngtimer in superb condition and you get in a collision. Because your vehicle is in mint condition, the current value of your beloved youngtimer or oldtimer will be higher than the average daily value in general. Thanks to the valuation report, there is no discussion concerning the daily value of your youngtimer or oldtimer with the insurance company. Your valuation report is leading in this. The valuation report may generally not be older than 2 years.
You have a modern luxury car / sports car that you have always maintained by the official dealer. You have never saved money on official spare parts for maintenance.
You have done a preservation treatment for the paint by an professional to extend the lifetime. The model you have is limited.
Again, the daily value will be higher than the standard general. In the event of a collision, the insurance will generally pay you the standard value if you do not have a valuation report. With an official valuation report by an official appraiser you can cover this discussion and the insurance will have to pay based on the valuation report.
In addition to the insurance technical benefits, an appraisal report will also benefit the sale of your modern car, youngtimer or oldtimer