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RACECAR GENESIS AND INHERENT MARKET VAGARIES

 

     A 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 and lore.
     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 followers.
     o Each follows its own individual design and power development evolution.
     o Each creates and celebrates its own heroes.
     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 our tradecraft.
     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.

 

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