Classic or custom motorcycles have been a passion of yours for some time. Along the way, you’ve learned that arranging for a custom motorcycle appraisal is a good idea when certain circumstances prevail. If someone were to ask you when an appraisal is needed, what would you say? Here are four occasions that you might want to mention.
Selling a Motorcycle
While many owners keep their custom cycles in top shape, it makes sense to arrange an appraisal when you plan on selling one of your collectibles. You can use the text of the appraisal as talking points when discussing the sale with a prospective client. That same appraisal also positions you to answer any question that the buyer may come up with during the discussion.
If the buyer asks something that you don’t know right off the bat, it’s easy enough to whip out the detailed report and check for an answer. Along the way, the buyer gets a chance to see that the appraisal was done recently. That indicates the contents of the document are accurate and up to date. That might be the little extra something needed to motivate the buyer to make an offer.
Buying a Motorcycle
If you happen to be the buyer and there’s not an appraisal already done, it never hurts to ask for one. In this scenario, you can even offer to pay for the inspection yourself. That’s especially helpful when you’re buying from a private collector.
You’ll find that many sellers are happy to comply with your request, especially when you’ve made the offer to pay for the appraisal. Assuming the findings are great and the motorcycle is truly everything that you want, the cost of the inspection is money well spent. Even if it turns up some issues that indicate the cycle is not worth the asking price, the investment in the appraisal helps you avoid a decision that could prove costly down the road.
Insuring a Motorcycle
Insurance providers need a lot of information when they offer coverage for a motorcycle. That includes data like the chassis number, the engine number, and the motorcycle registration number. Depending on the make and model, they may also want some specific details about the cycle’s condition. That’s where the appraisal comes into the picture.
If you had the appraisal done before making the purchase, or if the seller provided you with the detailed report, it’s easy enough to supply the data to the insurance company. Doing so could provide the insurance provider with more reasons to offer you coverage that comes with lower premiums.
Restoring a Motorcycle
You’ve purchased a motorcycle as part of a restoration project. You plan on doing most of the work, with some tasks managed by professionals. Along the way, your goal is to use as many original parts as possible.
After you finish with the restoration, do have the motorcycle appraised. This will come in handy as the years pass, since the report will confirm the use of original parts and help the cycle to hold the value. Should you decide to sell the restored cycle over the next year or two, the appraisal will make it easier to provide information about the actual condition.
Just as it makes sense to have automobiles appraised, a motorcycle appraisal is a good move in a number of scenarios. Find a reliable appraiser today and set up a date and time for the inspection. You may be surprised at how much you can learn about that cycle.
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