ATEEL is notified for the valuation of classic cars as part of the registration in Luxembourg and for the preparation of assessments.
Fascination and history
Vintage cars have a particular fascination. Each single one of these cars has its very own story. A classic car is not only a means of transportation from the past, but in fact rather a living witness of the automotive history and consequently a valuable cultural asset. Therefore, classic cars are the most emotional of all means of transportation, they are “experience on wheels” from contemporary history.
Registration of classic cars
Since 01.02.2016 a vehicle that is to be registered in Luxembourg as a classic car must also meet the criteria of the “Code de la Route Luxembourgeois” for classic cars.
Vehicles which are older than 25 years and have never been registered in Luxembourg before must be classified as a classic car. These ratings are carried out by independent inspectors. ATEEL, in collaboration with the SNCA, is a recognized body to issue these assessments.
In the course of these evaluations, the originality or the conversion or installation of contemporary parts and accessories are assessed and a certificate is issued. This certificate is needed to register the vehicle as a classic car in Luxembourg.
“Old-timer” valuation report
Classic vehicles are not just cars. First and foremost, they have an inestimable sentimental value for their owners. Due to the increase in value of classic vehicles in recent years, these vehicles also represent a form of investment beyond the enthusiast’s worth. However, a classic car’s estimated value is also an important factor with regards to the insurance or in case of damage.
For an assessment to withstand against third parties, e.g. an Insurance Company, an independent and comprehensible evaluation and classification of values is necessary. ATEEL’s qualified inspectors determine an overall grade based on objective criteria. In addition, the conformity of the classic car is checked against the corresponding documents of the vehicle. On top of common criteria such as paint and body condition, also aspects of originality or history of the vehicle are taken into account. The condition grade together with a market value analysis are used to determine the specific value of the presented vehicle.