CAA Classic and Collector Vehicle Appraisal 2

Question 1

A restorer claims a full 'rotisserie restoration' was performed on a 1965 Mustang fastback. Which documentation would BEST support this claim during appraisal?

Accepted Answer

Dated invoices from qualified shops, before/after photographs, and parts receipts

Answer

Dated invoices, shop records, and photographic evidence provide verifiable third-party documentation of the restoration scope, which is far more defensible in an appraisal than owner statements or club letters.

Question 2

Which body style designation typically commands the highest premium in the muscle car collector market when all other factors are equal?

Accepted Answer

2-door hardtop convertible

Answer

Convertibles consistently command the highest premiums in the muscle car market due to their lower original production numbers, greater perceived desirability, and stronger collector demand.

Question 3

When appraising a classic vehicle for insurance purposes, 'agreed value' coverage differs from 'stated value' coverage in that agreed value:

Accepted Answer

Guarantees payment of the full insured amount in the event of a total loss

Answer

Agreed value policies guarantee the full insured amount is paid upon total loss without depreciation deductions, unlike stated value policies that may pay only ACV if it is lower than the stated amount.

Question 4

A CAA appraiser is asked to value a 1970 Plymouth Hemi 'Cuda convertible. The primary challenge that makes this appraisal especially complex is:

Accepted Answer

Extremely low production numbers mean very few true comparable sales exist

Answer

With only a handful of Hemi 'Cuda convertibles ever produced, genuine comparable sales are exceedingly rare, requiring appraisers to use adjustments, related comparables, and market trend analysis rather than direct comps.

Question 5

The 'Bloomington Gold' certification for a Corvette primarily affects appraised value by:

Accepted Answer

Confirming factory-correct components and finish quality through a recognized judging standard

Answer

Bloomington Gold is a prestigious judging program that certifies Corvette authenticity and correctness, and certification from recognized concours events significantly supports and enhances appraised value in the collector market.

CAA - Certified Automotive Appraiser Practice Test

CAA - Certified Automotive Appraiser Practice Test

CAA Classic and Collector Vehicle Appraisal 2