How are car collections valued for divorce?

Car collections are often high-value assets which will have to be considered in financial remedy proceedings.

Whilst cars typically depreciate in value, some classic cars may actually appreciate over time, given their increased rarity and demand for their unique attributes.

As well as the more typical factors affecting market value, such as age, condition, mileage, and model, cars may be deemed high-value due to more niche considerations. For example, if a car was previously owned by a celebrity, featured in a film or music video, or otherwise has significant cultural or historical significance, its value will be boosted.

To get an accurate valuation, it will be advisable to instruct an expert appraiser as a single joint expert. An appraiser will consider wider market trends, the sale price of similar cars, as well as the quality of modifications and restoration work.

If you are considering or going through a divorce and you or your spouse own a significant collection of cars, contact Vardags today for a free initial consultation with one of our expert divorce solicitors.

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How are car collections valued for divorce?

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