GENESIS AND INHERENT MARKET VAGARIES
few notes about the nature of racecars are in order for the benefit
of the third-party reader. What follows is a brief description
of what the professional racecar appraiser faces when valuing
each project. Racing motor vehicle genesis can spring from any
one of several origins: an automobile manufacturer, a factory-sponsored
independent racing team, an independent team or private individual.
Commercial sponsors and endorsements play a big part in the financial
picture. Also, nationally renowned drivers, regional favorites
and names nobody remembers all add to this collage of the motor
racing sport of which the car is just one aspect. A final element
is the diversity of racetracks, each with its own unique characteristics
Does the driver win because of
the car or does the car lose because of the driver? Or, does
the car win in spite of the driver? Some drivers pay to race
their cars; others get paid to race, while others get paid just
to exhibit their cars. Classes and divisions further segment
within racing disciplines. Vehicles can be built to compete in
professional drag racing, Indy or Champ Car, Sports Car and stock
car events plus a myriad of other straight-line and circuit activities.
o Each has its own fan base and
o Each follows its own individual
design and power development evolution.
o Each creates and celebrates its
My point is that while the layman
sees them all as racecars, and while owners value them as specifically
prepared individual competition vehicles, the appraiser must
take a broader generic view at the whole lot in order to compare
similar assessable elements and their probable affect on value.
Because there are only mechanical standards which separate the
disciplines, it is not always possible for the appraiser to use
"apples for apples" comparisons for these unique vehicles.
Another somewhat recent phenomenon
affecting our process is the growing number of nearly faultless
re-creations. Newly-built "one-offs" of storied but
non-existent race cars, are being commissioned by hardcore enthusiast/collectors.
Such vehicles emerge with remarkable attention to detail and
build quality. While they might not have original's "patina",
valuation of such re-constructed racers must still reflect a
measure of the "as-raced" car's provenance. Building
the appropriate "case" for value is critical here.
Thus, frequently, the appraiser
must employ an equivalent comparison and adjust for other value
considerations by dollar and percentage adjustments. Market barometers
include racing and hobby periodicals, "track talk",
auction results and prior appraisals of similar vehicles. It
is the ability to evaluate this "mix" that both makes
appraising racecars, or re-creations thereof, difficult and defines
As one might imagine provenance
has a great affect on racecar value. Thus vehicles with significant
and similar provenance will be considered as comparables. Southwest
Valuations appraisers have a 36-year record of writing accurate
value opinions for racecars which have competed in virtually
all motor sports disciplines.
Apprasial Sample 1 - COVER
Apprasial Sample 2 - PAGE
1 - TABLE OF CONTENTS
Apprasial Sample 4 - PAGES
4 & 5 - UNIQUE ATTRIBUTES
Apprasial Sample 5 - PAGES
6 & 7 - VALUATION CONCLUSION
Apprasial Sample 6 - PAGE
19 - Curriculum Vitae of Jon W. Lundberg, Sr.
Apprasial Sample 7 - PAGE
24 - FINAL PAGE OF REPORT
This report in total and in part
is restricted to use by the named client and/or the intended
user(s) designated herein and may not be further distributed
or employed for any purpose other than the intended use specified
without the written approval of the appraiser.