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Source One Appraisals of Chicago, Illinois
Chicago, IL
Welcome to Source One Services. We are a full service vehicle appraisal company that takes great pride in providing the highest quality appraisals for estates and trusts in serving the car enthusiast industry.
t: view phone(947) 247-0742
w: http://www.informasource.com/
Source One Appraisals of Chicago, Illinois offers the following products and/or services:
» AppraisersWe welcome specialty appraisal work from estate: Executors and Trustees as well as, Probate attorneys and Bank Trust Departments.
With over 25 years in the automotive industry we have the expertise and research ability to accurately appraise most vehicles. We believe only through the constant pursuit of education, do we maintain a high level of excellence within our industry. Exposure to national auctions, auto shows and memberships with major associations help keep us abreast of an ever changing market place.
Roy Da Silva, president of Source One Services. An accomplished businessman that has served in several key positions within the automotive industry from dealer networks to national automotive fleet management, Mr. Da Silva brings to the appraising society more than 25 years of automotive knowledge to his business. Always having a keen sense of the collector car market since having aowned and restored dozens of unique and interesting autos himself, Da Silva brings a straightforward approach to the business of vehicle appraisals. The combination of automotive knowledge and an ethical approach to his valuation makes Source One Services second to none.
Qualifications
25 years experience in the automotive industry
Certified appraiser with the International Automotive Appraisal Association
Candidate member for the American Society of Appraisers
Expertise in foreign exotic automobiles and vintage race cars
Serve on the advisory board for the N.A.D.A., classic, collectible and special interest car appraisal guide
Member Antique Auto Club of America
Mr. Da Silva is the owner of several rare and exotic cars
Qualified Expert Witness
Insurance Claim Management
A dedicated, detailed, professional that makes a living with his trade
History
98-present Founded and developed Source One Services to provide specialized services to the collector car markets. A niche company for those that demand high quality appraisal and consulting service
95-99 Co-Founded Guidance Development (an Internet marketing & development co) where he began developing the sales systems and other programs that were created to promote the automotive industry
87-95 Worked as a national sales manager for one of the largest fleet management companies in the US. Managed and developed the Midwest territory. Winning several achievement awards throughout his career.
82-87 Worked as a leasing broker for eight major US banks providing funding for all Chicagoland auto dealers
78-82 Worked in several high end foreign auto dealers, serving as parts and service management
Aviation Services
Often times the greatest challenge of viewing a potential vehicle is the decision of both time and money. Unfortunately the end result is usually a missed buying opportunity. But it doesn't have to be this way. With Source One Services we have a cost effective flight program that will allow our appraisers the ability to fly to any location. We also offer the client the opportunity to fly to the site as well if this is a requirement.
We offer single and multi engine corporate aircraft. Our chief pilot Brad Ruedig is an airline pilot with over 9,000 hours logged. Planes are all weather rated and highly maintained to exceed FAA safety standards. Source One's planes land at large airports, and more importantly small out of the way airports where many of the best cars can be seen. We eliminate the hassle of long lines, parking, security, and flight cancellations.
Dealers, this is an excellent opportunity for you to get to your small-town auctions, car buying assignments or just about anything. Give us a call and we would be glad to quote you a program that would be both effective and economical.
People need their classic cars appraised for a wide range of reasons: they want (or have to) sell a car, and need an independent assessment of its value: they want to buy a classic, but have no idea what a fair price is. A vehicle is part of the community property in a divorce settlement and neither partner can agree on what it's worth; the car is part of an estate and its value has to be established in order to estimate tax liability. The primary reason people have their classic car appraised is for insurance coverage. When it comes to dealing with insurance companies, your appraisal can make thousands of dollars of difference for owners whose classic cars have been damaged or destroyed. It also makes good sense to have your vehicles appraised every several years in order to keep track of a changing market.
Why Professional Standards?
As a professional appraiser I am committed to perform valuation services competently and in a manner that is independent, impartial and objective. Therefore all the analyses, opinions and conclusions in all my reports have been prepared in conformity with the Uniform Standards of Professional Appraisal Practice. This assures confidentiality, record keeping, fee relationship and disclosure of interest for your security. It is our intention at Source One Services that you receive the highest and most professional appraisal for your vehicle.
Why a licensed appraiser?
Most states do not require that automobile appraisers be licensed, but it only makes good sense to hire a licensed professional. Since the primary role of an appraiser is to state a value on personal property, the ability for the appraiser to gather reliable and up to date information is often only available through a professional association such as the I.A.A.A or ASA . The strict standards that are set by these associations insure that its members adhere to the requirements of a complete and through appraisal as well as practicing a strict code of ethics. A licensed appraiser makes a living with his trade; a licensed appraiser demonstrates the commitment for their trade.
When is it ideal to have an appraisal performed?
Before buying or selling a vehicle
When securing collateral for a loan
When assessing the value of an estate
Before, during and after restoring a vehicle
Insurance, appraisal clause, arbitration, loan, equity loan, donation, sale, purchase, divorce, business dissolution, taxation, bankruptcy and foreclosure/repossession
Categories we appraise:
Custom Cars Muscle Cars Sports Cars Antique
Exotic Show Cars Race Cars Street Rods
Terms
With so many variations of appraisal approaches it can get confusing for someone to feel comfortable asking the appraiser for the right kind of advice. So here are some common terms that are used in the industry. We hope that they will be useful. Remember there are no dumb questions if you're trying to get the right answer.
Fair Market Value: The Price of which property (vehicle) would change hands between a willing buyer and willing seller, neither being under any compulsion to buy or sell and both having reasonable knowledge of relevant facts.
Market Value: Similar to fair market value except that provision for the lack compulsion to buy or sell is removed and assumption of a sale within a specific time is added, along with the transfer of title.
Actual Cash Value (ACV): An insurance term that usually means the sum of money required at the time of loss, to acquire a similar vehicle, as the property destroyed , less any appropriate depreciation for previous use.
Liquidation Value: An impending sale with limited conditions. An orderly liquidation is planned disposal with price consideration. A forced liquidation is immediate disposal without price consideration. An absolute auction has no reserve price.
Replacement Value: A term used when describing the cost to replace an automobile in the exact or equivalent condition and with the same components, less any depreciation due to use or deterioration. This would include cost of custom fabrication, upgrading and any modification cost to duplicate the appraised automobile.
Salvage Value: Parts value without consideration of the specific vehicle the parts came from.
Hypothetical Value: The value of stolen or damaged vehicles, which are not always available for physical inspection, based on assumed conditions, sometimes contrary to fact, with limiting conditions.
Reconstructive Value: A vehicles value in pre-accident condition is estimated, based on it's post-accident condition with applicable limiting conditions.
Provenance or Historical Value: External market force affecting a vehicle value because of proven prior ownership or association not necessarily related to intrinsic value.
Hours of work
Monday - Friday 9:00am - Friday
By appointment Only call today (947) 247-0742Locations
Serving the greater Chicago, Illinois region.
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