Sample Typical Appraisal
Appraisal Report # 12345
of a
1968 Chevrolet El Camino
This report has been prepared for Xxx Yyyyyy :
A vehicle inspection and report
preparation has been undertaken by:
Mr Smith S.V.A.I.
XXXX YYYYY Drive
Calgary, Alberta
XXX YYY
(403) XXX-XXXX
Canadian Personal Property Appraisers Group C.P.P.A.G Trained
A current member and director of the Specialty Vehicle Appraisal Institute
S.V.A.I.
Page 1 of 16
Sample Typical Appraisal
Vehicle Specifications:
Year:
Make:
Model:
Body Style:
V.I.N. #
Odometer:
License #
Policy #
1968
Chevrolet
El Camino
2 Door Truck
134808BXXXXXX
42,193 miles
XXX YYY
Registered Owner: XXX YYY-XXXX
XXX yyyyyyyyy
ZZZZZZZ, Alberta
General Comments:
General Motors copied Ford’s lead and marketed the El Camino, which was part car with
comfortable appointments and part truck with an open truck bed. Examples today are
rare and make unique collector vehicles.
Appraisal Summary:
This truck has undergone some exterior reconditioning but remains very original. The
engine runs fine. The vehicle does show some interior and exterior aging and wear but is
overall in above average # 2 condition.
Appraised ( Fair Market ) Value : $ 16,900.00_ Cdn.,
Date of inspection and effective date of the appraisal __May 3, 2009_
Report Number _12345_
Signed:
Note: The appraised value may vary over time, especially if modifications are made to the vehicle. It
is recommended that periodic updates to the appraised value be made to ensure that the estimated
value noted above is an accurate reflection of current value. The appraised replacement value will
probably differ from market value. Due diligence has been applied to make the assessment as
accurate as possible using information presented to me at the time of the inspection. Value is
determined by the use of comparables and value guides, review of readily available sale / auction
results in North America and based on my experience in local sales and auctions of similar vehicles.
Unless otherwise stated the value shown is fair market value for insurance purposes to be applied on
collector vehicle policies having a 19A (appraised value) endorsement. The owner should verify that
the policy includes this endorsement in the contract.
Page 2 of 16
Sample Typical Appraisal
General Description and Condition:
1968 introduced a longer El Camino, based on the Chevelle station wagon / 4-door sedan
wheelbase. A new, high performance Super Sport 396 version was launched this year.
1969 models were very similar, but 1970 saw the availability of a new big block which
actually displaced 402 cubic inches, (although all emblems read 396). Chevrolet's largest
and most-powerful engine of the time was also put into a select few El Caminos. The LS6
454 engine, rated at 450 hp. 1969 also marked the first time that the Chevrolet 350 V-8
was used in an El Camino. The 1971 model saw reduced power and performance, along
with the rest of Chevrolet's line, as lower-octane unleaded fuel was mandated, and
emissions controls began to be felt. Single headlights replaced double for 1971, and the
grille came now to a point. Little changed but still lower power outputs were marketed
for 1972. A rebadged El Camino called the GMC Sprint debuted in 1971. This 1968 El
Camino has had some interior and exterior reconditioning and the engine appears to have
been rebuilt. Some interior components show some age and wear but the truck remains
in above average # 2 condition overall. (For a description of the various condition ratings
please refer to the end of this report.)
Although the truck is in the condition expected of a low mileage vehicle, the ongoing
mechanical and exterior / interior reconditioning of the vehicle suggests that the odometer
indication of 42,193 miles reflects the fact that the odometer has “turned over” once and
the actual distance the vehicle has seen is 142,193 miles.
Body and Trim and Glass:
The body panels on this truck are straight and free of accident damage or significant
corrosion. There were some paint bubbles on the trailing edges of both front fenders. All
panels were properly aligned with reasonable and uniform panel gaps and no pinch
points. There was some evidence of prior body work and minor body filler on the roof
(where the filler had cracked) and possibly on the lower rocker panels. All trim and
brightwork was intact and in very good condition with only minor fading due to age. The
front and rear bumpers were straight and free of accident damage or scrapes and the
chrome finish was excellent to very good as the front bumper appeared to be original
with some fading due to age while the rear bumper appeared to be rechromed or new.
The owner indicated that all lights are operational and there were no cracks or scratches
in the lens of the headlights or tail lights. There were minor scratches in the side glass
from raising and lowering the windows. The windows cranked up and down easily
without binding. The rear glass and windshield was free of cracks or chips and the front
windshield did not show any minor pitting from road grit. The truck bed area was clean
with the floor showing some scratches and paint chips from light hauling. A vinyl bed
cover was in place to protect the box area. The truck bed floor was free of corrosion.
The hood and tailgate as well as both doors opened and closed easily without binding or
sagging. The rubber door seals looked new and showed no aging and wear.
Paint:
The truck has been repainted a metallic red or bronze colour. Quality of the prep work is
good with no sanding marks but there was some minor overspray on trim or rubber seals.
The colour has good shine and lustre and the finish has minimal dust or orange peel in the
Page 3 of 16
Sample Typical Appraisal
surface. It has accumulated some minor paint chips and scratches, some of which have
been touched up with a slightly different shade of red.
Wheels and Tires:
This El Camino had new rally style rims on all four corners, with trim rings and hub caps.
These are in very good condition with no corrosion or curb damage and minimal aging.
The wheels hold Widetrack Radial S/R radials that are P235 60R15 in size. These tires
are new and show no significant wear or unusual wear patterns that might indicate a prior
maintenance or mechanical problem. There was no spare in the truck bed.
Interior and Instruments:
This intermediate sized truck seats two or three with front bucket seats separated by a
transmission tunnel and no rear bench seat. Door sill plates are original and show typical
minor scuffing and fading. The kick panels show no cracks in the plastic. The carpet has
rubber throw mats to protect the floor covering, which shows minimal aging or wear.
The door panels appear original and are free of cracks or holes in the vinyl cover or arm
rests, but the Malibu insignia on the driver’s door was missing. Front bucket seats have
been refinished and show no fading, cracks, tears or split seams in the cloth. The
headliner is in very good condition with no sags, holes or tears in the fabric but the
courtesy light lens was missing. There was some noticeable sun / heat damage to the
dash pad and some aging and cracks were apparent. The instrument cluster and steering
column are original and have not been modified. The steering wheel is a small diameter
Grant GT replacement and free of wear or cracks in the rim. The truck is nicely equipped
with driver’s convenience options including dual chromed side view mirrors, a day/night
rear view mirror, heater / defroster, wipers / washer, ashtray and lighter with courtesy
lights. The instrument cluster contains the factory installed speedometer and fuel level
gauge, with warning lights. Under the dash panel, an air pressure gauge monitored the
pressure in the rear air suspension system. The truck also has power steering.
Audio:
The vehicle has the original audio system mounted in the dash panel. No other
aftermarket stereo enhancements were found at the time of the inspection.
Engine and Power Train:
The 327 cubic inch GM V8 engine appeared to be original with some appearance
enhancements in terms of chromed valve covers and an open style air breather with a
chromed lid. There was some accumulated grime and rust on a the lower block
components, and some paint chips but the engine looked well cared for with new looking
performance plug wires and a wiring harness that appeared unmolested. In addition belts
and hoses showed minimal aging or wear. It started easily and ran smoothly with no
unusual noise or smoke that might indicate a hidden maintenance or mechanical problem.
The induction system consisted of the original Quadrajet 4v carburetor on a cast iron
intake manifold. No performance upgrades were noted. The cooling system was stock
with a belt driven fan. There were one or two drops of oil on the underside pans but no
indication of any significant fluid leaks. Power is fed through a stock Saginaw four speed
manual transmission to the original rear end.
Page 4 of 16
Sample Typical Appraisal
Suspension/Brakes:
The vehicle retains its original configuration for suspension and four wheel drum braking
systems. The suspension was firm with no sagging. No modifications were found aside
from the fact that the rear shocks were air pressure operated to control ride height and
other components appeared to be reconditioned as needed. These critical systems appear
to be in good working condition with no apparent problems. This summary is not a
safety inspection and this report is not a qualification of the mechanical integrity of the
components, but is only reporting on the visual state of what was present.
Frame/Exhaust:
The frame and undercarriage have been cleaned and not undercoated for protection.
There is no indication of any road hazard damage on underside panels but there is some
general surface rust in areas where the paint or undercoat is thin or has become loose.
One undercarriage picture seems to show that a repair patch panel has been welded in
place. The exhaust system is unmodified with cast iron manifolds and dual downpipes
and performance mufflers. There is no indication of any leaks in the system and when
the engine was idling the exhaust sound was normal.
The odometer reading is 42,193 miles. It is possible the odometer has “turned over” once
and the actual mileage on the chassis is higher.
Page 5 of 16
Sample Typical Appraisal
Decoding the VIN number and Body Tag Numbers:
The VIN number 134808BXXXXXX may be decoded as follows
1
= Chevrolet Division of General Motors
34 = Chevrolet El Camino body series V8
80 = Two Door pickup sedan
8
= 1968 Model Year
B
= Baltimore MD assembly plant code
XXXXXX = Sequential Production Number
Determination of approximate market value and Insurance replacement value.
Vehicle Type 1968 Chevrolet El Camino
Collector Car Market Review
Hagerty CTM Guide
NADA Guide
Old Car Guide
Canadian web sales
Average of above
Above
Average
Condition
19,665
20,200
18,500
17,710
Comments
A clean truck showing some age and wear.
17,100 plus 15 % for 327 V8 and 4 speed
16,100 – plus 10 % for 4 speed
$ 20,000 – 1968 Chevrolet El Camino rebuilt 454 V8 Auto, recently
restored, almost finished, (780) 489-7742
$ 20,000 – 1968 Chevrolet El Camino 307 V8 Auto, new15 “ wheels
& tires, new paint tonneau cover Edmonton AB (780) 984-1485
$ 18,000 – 1968 Chevrolet El Camino 327 - 4 Speed, very very good driver, new
interior, original paint Saskatoon Sask (306) 649-4966
$ 16,000 – 1968 Chevrolet El Camino, 327 Auto, very good condition throughout
Summerside PEI (902) 888-2678
$ 18,400
Approx Cdn Market Value $$
$ 18,400.00
This is the approximate fair market value for an above average
condition vehicle in essentially the stock or factory
configuration but showing some minor age and wear. The
estimation is based on available reference guides and where
possible on local sale/auction activity.
Other Factors Considered
Rarity
Originality
Reworked / Replacement Parts
that would add to or take away
from the market value expected
for an “above average”
condition vehicle.
Fair market Value
(500)
(1,000)
$ 16,900.00
Total El Camino production in 1968 = 41,791 trucks
Some modifications from original
Powertrain Upgrades: Engine appears in above average condition
Brakes & Suspension: Appear to be in above average condition
Interior: Dash cracked otherwise in above average condition
Bodywork: Some paint bubbles on front fenders, undercarriage rust
Paint: Minimal aging – in above average condition
This is the appraised value for insurance purposes
Note that many factors are considered to determine replacement value. Some details may
not be presented in this report but a copy of the relevant information is kept in my files
and is available on request. The fair market value may differ from the invoiced cost of the
vehicle, especially if it has been extensively modified or restored.
Page 6 of 16
Sample Typical Appraisal
The engine may be a replacement 327 cid GM V8. It has been rebuilt to factory
specifications and has no modifications or performance upgrades. The engine started
easily and ran smoothly with no unusual noise or smoke that might indicate a hidden
mechanical or maintenance problem.
Page 7 of 16
Sample Typical Appraisal
The front and rear bumpers are straight and free of accident damage or corrosion. The
chrome finish on the rear bumper is excellent and appears to have been rechromed. Front
and rear lights are free of cracks or chips. The owner indicates that all lights are
operational. The vinyl tonneau cover shows no aging or wear.
Page 8 of 16
Sample Typical Appraisal
The side panels are free of corrosion and accident damage. The paint is very good with a
good shine present. All trim appears to be intact and in very good condition although the
rocker trim might benefit from a good polish. The glass is also very good with no
significant flaws.
Page 9 of 16
Sample Typical Appraisal
Exterior panel fit is very good with uniform gaps and no pinch points. Doors open and
close easily, with no sagging or binding. The side windows crank up and down easily
without binding. Door panels are free of holes or tears in the vinyl.
Page 10 of 16
Sample Typical Appraisal
The front seats are in excellent condition and show very little aging or wear. Similarly,
the interior overall is in very good condition, with steering wheel, and instrument cluster
showing minimal aging or wear. The dash was cracked however due sun or heat damage.
Page 11 of 16
Sample Typical Appraisal
With the pattern of rust evident on the underside, it appears as though a portion of the
original floor pan has been removed and replaced with a new unpainted panel.
Page 12 of 16
Sample Typical Appraisal
The trunk area is clean and free of corrosion. The floor is original and shows some aging
and wear with numerous paint chips. The tail gate is in very good condition as is the
vinyl tonneau cover.
Page 13 of 16
Sample Typical Appraisal
Wheels show no corrosion or
curb damage and are in very
good condition.
There are cracks in the dash
pad.
The shifter is mounted on the
floor and it appears that this
is an original four speed
truck.
Page 14 of 16
Sample Typical Appraisal
Terms and Conditions of Appraisal Report
Opinions and conclusions made in this report reflect my professional judgment based on
facts and conditions available to me during the time of the inspection of the vehicle. Due
diligence has been applied to gather the facts and establish the condition of the vehicle.
This includes all information requested and provided to me by the vehicle owner at the
time of the inspection. The appraised value does not include applicable taxes or duties.
The intended use of this report is limited for insurance valuation only. The report must
be used in its entirety only, and is not intended for any other use or distribution beyond
the registered owner and his / her insurer.
Certification of this report
All facts and data set forth are true and accurate to the best of the appraiser’s knowledge
and belief.
The author has no present or prospective interest in the vehicle that is the subject of this
report and the author has no personal interest or bias with respect to either the vehicle or
the parties involved.
I have made a personal inspection of the subject vehicle and requested from my client
that all pertinent information relating to the vehicle and its history be passed on to me
prior to preparation of the report. All information provided was considered in the report
preparation. I verify that the digital images presented accurately reflect the condition of
the vehicle at the time of the appraisal. My compensation is not contingent upon the
reporting of a specific predetermined value, or direction of value, or any portion of
estimated value. Value indicated does not include applicable taxes or duties.
XXX YYYYYYYYY is an accredited member in good standing of the Specialty
Vehicles Appraisal Institute of Alberta, and this report has been prepared in compliance
with their standards, requirements and practices. This report may be subject to review by
either or both of these groups or their duly appointed committees to ensure that these
standards are met.
Signed and Dated
__________________________________________________
Page 15 of 16
Sample Typical Appraisal
Condition Rating
The 1 to 5 grading scale for collector vehicles was developed by Krause Publications and has
been in use in the industry for some time. These number coded categories help to maintain
consistency of descriptions and assessments.
1 = Excellent, 2 = Very Good,
3 = Good, 4 = Fair, 5 = Restorable
1) Excellent: Restored to current professional standards of quality in every area; or original with
all components operating and appearing as new. This vehicle is true show car quality and is
never driven and transported in closed trailer. Flaws, if any, are few, minor and readily
repaired.
2) Very Good: Well Restored; or combination of superior restoration and excellent original
condition; or extremely well maintained original showing minimal wear. This vehicle would
only be driven infrequently in good weather. Also called above average condition.
3) Good: Completely operable original or older restoration showing some wear or amateur
workmanship. Also a combination of well done restoration and good operable components;
or partly restored car with valuable NOS parts. Vehicle would likely be driven frequently for
enjoyment. Also called Average condition.
4) Fair: Addressable vehicle needing no or only minor work to be functional; or a deteriorated
restoration; or a very poor amateur restoration. All components may need restoration to be
Excellent or above average, but mostly usable in “as is” condition.
5) Restorable: Needs complete restoration of body chassis and interior. Not drivable, but is
not weathered, wrecked or stripped to the point of being useful only for parts salvage.
Rating for Rust or Corrosion Deterioration:
Serious:
Frame and sub frame or floor pans show surface rust and perforation to the extent
that some structural weakening has occurred. Body shows perforations and holes
around prone areas or floor pans.
Moderate: Frame and sub frame or floor pans show extensive surface rust but no perforation or
structural weakness. There may be a few small holes in prone areas such as lower
door panels and around wheel wells.
Light: Frame and sub frame show light surface rust in some areas. Body is intact with no holes
but possibly some bubbling of the paint in prone areas.
No Rust:
There is no rust anywhere on frame floor panels or body panels.
Valuation Definitions
Fair Market Value: The highest price, expressed in terms of money, that this vehicle will bring in an
open and unrestricted market between a buyer and seller who are informed, knowledgeable, and prudent
and who are acting independently of each other, neither being under any compulsion to buy or sell.
Collector Car Insurance policies are based on fair market value and it becomes the “Agreed Value”
between the insurer and insured for an insurance contract with a 19A endorsement for collector vehicles
and motorcycles. “Replacement Value” may be the same as fair market value but is usually higher if
modifications or custom effects have been made to the vehicle. These changes may or may not always be
reflected in market values, but these same costs would be required to return any replacement vehicle to the
same condition or state as the original vehicle. It usually used in property value insurance and not for
collector vehicles.
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