The price of history
New research suggests that a car lacking in history or paperwork could lose at least 15 per cent – and as much as 40 per cent – of its value.
The study conducted by specialist company, De Bowers Motor Files reveals that a lack of history or paperwork can reduce the price of a classic car by between an estimated 30-40 per cent, and that of a high end collectable car by as much as 10-15 per cent.
Paul Campbell, of Manor Classic Cars in North Yorkshire, says: ‘Assuming that there is a decent amount of invoices, receipts, and build records, the collation of that car’s history in a neat and formatted manner could easily increase the value of a car.’
De Bowers Motor Files managing director, Kim De Bowers adds: ‘Make copies of legal documents in case of fire, or other loss and keep your own notes on the car with regard to any event that the car has experienced.’
However, CCW’s markets editor Richard Barnett says: ‘Losing 30-40 per cent sounds quite high to me. When it comes to cheaper classic cars, surely it’s more likely that people will buy on what they can see of the car, rather than what’s in the history file?’ ❚ www.debowers.co.uk