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My parents own a 1948 Packard, 7 passenger sedan. My dad recently passed away in August and his wishes were to donate the car to the Packard Museum in Warren, OH. My mom would like to abide by his wishes but would like to do what is best for the car and herself. Us three kids are investigating her options with her approval to find the best option for his award-winning Packard. Her lawyer suggested that we get the car appraised regardless. Where do you go to seek an appraisal for a Packard? My mom lives in the Cleveland, OH area. We would appreciate any suggestions.

If the car is not mentioned in a registered will then your mother can do with the car to her best advantage. If the car is mentioned in a will a lawyer can still ignore such clauses and your mother can still end up doing as she pleases so long as no parties to the will object and even then lawyers and the courts can slam the door on that.

I'm speaking from experience. I was named in a will and never saw a thin dime. And it was a lot of money.

As far as appraisals go, they are subject to the whim of the current asset bubble and are subject to wide fluctuations. The value of the car for tax purposes is material only if the estate is over the taxable threshold.

As far as selling the car you can contact Lee Wolf at 216-496-9492 in Bedford Heights OH. He can do an appraisal as well.

Hope this helps.

sounds like the appraisal may be needed for tax donation purposes for itemizing deductions or just to determine true market value, I'm an appraiser and do these often but am located too far away for practicality. Go only with an independent "third party" appraiser who has a strong specialty in Packard's.

Usually appraisals done by car dealers (such as Wolf) will not stand in a court of law. There is a conflict of interest.

Yes, you will need an independent appraiser.

Most insurance companies that write "agreed-to" policies ask for an appraisal - they may have a list of approved appraisers.

I am pretty sure Hagerty Ins. has a pre-approved list. Maybe your insurance carrier has a similar list.

I don't think this case involves an appraisal clause in a disputed claims case so getting involved in the legal sleaze of who is doing an appraisal for whom is not the issue.

I think they want somebody local who can give them an idea of what the car is worth. If Wolf has a valid appraisal license and the appraisal is being used for purposes other than his claims to property, no tax court is going void that. Besides that he handles consignments so I don't see the conflict of interest argument either. As well, a dealer will always retain a 3rd party appraiser as a matter of due diligence. So no matter, if Lee is near enough a venue they should be able to get what they need. If not I know some other people who can give them a second opinion.

In any case, the value of the car for estate tax purposes is the issue here. Whatever the number ends up if the estate is below the taxable threshold the issue of legality is completely different.

Thank you for the responses. I really appreciate it! The car isn't stated in the will nor is there an estate - all assets are in a trust which is now in my mom's name. My dad's verbal wishes were for the car to go to the museum but at the time when he was talking over this issue with my mom he was ill with a terminal illness that came on suddenly and he had little time to really investigate the options for the car. The car is now in my mom's name and she needs to decide exactly what she should do with the car. (The museum told us that they don't have room for the car but would accept the car. I am guessing so that they could sell it and use the proceeds. Not sure that is really what my dad had intended.)

There is an 'agreed upon' value stated within the car insurance policy, a policy specifically for that car. I will check with them to see if they have a list of pre-approved appraisers. I think the lawyer wanted us to do a more recent, official appraisal just in case the car is to be donated, for tax purposes. My brother thinks we should get an independent appraiser/appraisal no matter what we do with the car.

So essentially we really just need to find a reliable, independent appraiser that is in their local area near Cleveland/Lorain/Elyria who can do an accurate appraisal. We just didn't know where to start. Thank you everyone!

If your father's wish was to donate the car to a museum, the museum will generally provide an appraised value in order that your mother or the trust may claim the market value for income tax purposes.
It should be noted that the valuation figure for inheritance taxes is often set at a lower figure than you would be willing to sell the car. This is seldom a problem with older vehicles that have no clear cut values like the NADA price lists .....and even these have some wiggle room based on mileage and condition.
The taxing authorities are taking a closer look at valuations on both sides of the scale. In Pennsylvania, the Department of Revenue will question absurdly low valuations on collector cars and I have heard that the IRS is starting to look more carefully at cars donated to charity based on inflated appraisals which are then sold at auction on behalf of the charity at giveaway prices. They have issued warnings that the sale price may establish the value for the charitable deduction.
In dealing with taxing authorities it is usually a better idea to try to be honest and not stretch the envelope too far. The state inheritance tax rates have generally been reduced to the point where tax avoidance efforts are hardly worth the effort. In Pennsylvania the vehicle in the absence of a will would pass to your mother tax free and to children at 4.5% of the net estate value. Since our sales tax is 6% on virtually everything but clothing and food, why play with the tax issue?
Al Capone did not go to jail for killing people but sor tax evasion. Trying to take a. Six figure charitable deduction for a car that is worth half that amount is asking for an audit which will generally cost more for accounting and/ or legal fees than any savings.
To sum up- if the car is to be donated to a museum, let them provide an appraisal(s) and rely on that for the charitable deduction. If the intent is to keep the car and establish value for the trust or inheritance taxes, find a qualified appraiser-- lots advertise in Hemmings Motor News.
At the very best, appraisals,are educated guesses. Hagerty provides a valuation calculator but I wish I could find buyers for my cars at their values.
Hope this helps.

G'day jmwerbylo,
to PackardInfo and, I invite you to include your family's '48 7 Passenger Sedan in the Packard Owner's Registry.

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There is no law that says an automobile appraiser needs a license. Anyone can be an automobile appraiser. Not everyone can be a good automobile appraiser.