Most of my friends are always on the outlook for old and interesting cars or motorcycles. They usually send me a text message with a couple of pics and the question, “what do you think its worth?”. When I started in the auction business, I worked as an appraiser. I’d help the auction consignors establish a value, so they could get an idea of what their car might be worth before putting them in the auction.
I thought I was pretty good at that job.
But in today’s vintage car/bike market I can’t even come to understanding the market. This 1944 Indian Chief showed up on a local tow company website for their weekly auction. It was hard to get a good look at the old Indian with the posted pictures, so I went out to look at for myself. The Indian Cheif has been neglected for the past 60 years, it was rusty and had been disassembled. It was loaded with what is referred to as patina today.
It was an ex military bike bought in 1950, and by 1953 was put away. Needing a complete restoration, I thought it was worth $5-8,000 in present condition. On Ebay you can find fully restored ones priced from $15-40,000. It sold for $14,600 rust wins again.