Comparable vehicles are a major part of many total-loss valuations, but a comparable is useful only when its similarities and differences are understood. The goal is not to find the highest or lowest asking price; it is to identify evidence that reasonably reflects the subject vehicle's market.
Start with the characteristics buyers use to distinguish one version of a vehicle from another.
A listing should be traceable and reasonably available on or near the valuation date.
Perfect matches are uncommon. Material differences can be analysed or weighted appropriately.
Verify exactly what vehicle is being valued.
Gather a reasonable pool of relevant listings.
Remove duplicates and weak or misleading vehicles.
Explain differences and the resulting value conclusion.
They may provide useful evidence depending on the assignment, but seller type, asking-price behaviour, condition information and verification should be considered.
There is no single distance that applies to every vehicle. Rare or specialty vehicles may require broader geographic research.
Sold data can be valuable when available and reliable. Active listings can also inform the market, but asking prices are not completed transaction prices.
General information only. Policy wording, claim facts and applicable law control. IA Reports does not guarantee a settlement increase or specific result.
Tell us about the vehicle or assignment. Your information and selected documents will be submitted directly to IA Reports.
