VALUATING A POTENTIAL PURCHASE - SOME OF THE THINGS TO LOOK FOR

摘要

Take a notebook, a torch, overalls and work gloves. You may be investigating a tractor that has been at the back of a barn for years and is still embedded there! A jack and pry bar may well be useful. Don't rely on memory, but make notes of all important observations. These form the basis of a restoration budget figure. When buying at auction, establish the top price you want to pay. If necessary, make allowances for buyers' premium and VAT. Auction sales establish the value of an item on the day and do not necessarily reflect the true value in the wider market place.