Numerous factors affect classic car prices, and the definite value of a classic car can vary according to who is doing the appraising. Auction prices are taken into consideration, as are typical market values outlined by "blue book" guides. A professional appraiser will often dictate classic car prices by taking into consideration these factors as well as the overall condition of the vehicle, the types of restorations done, the previous owners, and so on. Classic cars previously owned by celebrities tend to be more expensive than the same model of car owned by a non-celebrity.
Classic cars are often auctioned off, and the auction price will have an effect on the classic car prices. If, for example, the Deuce Coupe is consistently auctioned off at a certain price or near that certain price, the overall value of a Deuce Coupe on the classic car market will rise. If auction prices drop, the overall value of the car can drop as well. The auction price is, of course, only one criteria for determining classic car prices, though it tends to be a major factor.
The overall condition of a car will also have a major effect on classic car prices. A car owner can look up an estimated value of his or her car, but depending on its condition, the car's value may be quite a bit less than the listed value. Cars that need excessive restoration or have irreparable damage are very likely to be worth far less than the same model and year of car in pristine or good condition. Refurbishing or restoring the car can increase its value, though it may still not be as valuable as a car with all or mostly original parts. Original cars in pristine condition will very likely fetch the most amount of money.
Other incidental factors can affect classic car prices. Cars owned by celebrities inevitably cost more than other cars, especially if the car has some sort of history to it. A car driven by James Dean, for example, is far more likely to be especially valuable, and even if a person owns the exact same model and model year of car, it may be worth far less according to the appraisers and other criteria. Cars from the original production run can also be more valuable than cars that were manufactured later on after the vehicle became well established.