When should you get an appraisal? 

 Some say every 3 years, others will tell you once a year and others will say "What?" There's no formula for having an antique car appraised, no specific timeline or other fixed date unless it is an investment vehicle. Remember, Investment grade vehicles are either #1 cars or extremely rare, highly appreciating autos. They are trailered to car shows or parked in static display in private collections.

These cars are not washed and waxed, they are cleaned and dusted. They are rarely if ever driven and are maintained where they reside. The frequency that you would appraise an investment vehicle really depends on how active you are in acquiring and trading.

As a general rule, it is recommended every 3 years. This is just maintaining your portfolio. If you buy and sell for a profit or as a profession, it's every time it changes hands or goes for sale. If you never intend to sell it, an appraisal should be done at the advent of any legal instrument such as the writing of a will, marriage, divorce, change of insurer and the like. An appraisal would also be in order upon completion of a major service or repair.

Appraisals related to market fluctuation should only be done at the time of sale or on investment vehicles. Remember that if you devalue a car and the price goes back up, you will need another appraisal or succumb to a 28% tax on your profit. Only investors or dealers can write of deprecation loss. If you are a collector, it is not to your benefit to lower the value for tax losses you won't receive. It doesn't matter from a tax standpoint until you sell the car for more than you purchased it for.
 
It can also be false economy to appraise with market fluctuations because it may affect your asking price and, you guessed it, you're going to need another appraisal. In short, unless you're an investor or a dealer, there isn't a need for an appraisal unless you are buying, selling or have a legal matter that would require it. As an investor it should be anywhere from 1 to 3 years.
 
Dealers would obviously be more frequent and they kind of do their own thing. When buying from a dealer, absolutely call for an appraisal, especially if you don't agree with what they present. If they won't agree to an independent appraisal, walk away. They're hiding something.
 
A summary/ACV appraisal is best for most collectors, or self-contained is also suitable. Online or hypothetical appraisal is not recommended. Have someone who knows put eyes on it in person, that's the safest bet.
 
 

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