Market value (vehicle)
The market value of a motor vehicle is generally the value that a market participant in the market for used cars attaches to a motor vehicle .
General
Different questions about the value of motor vehicles require different value definitions, be it because a vehicle is to be valued in the course of customs clearance or an inheritance or insolvency , be it because there is damage worth repairing , but the vehicle is sold unrepaired or repairs are self-directed should be carried out, etc. In the event of an economic total loss , the question of the value of the wreck also arises.
In practice, it has been shown that the various terms are sometimes not sufficiently delimited, which can lead to misunderstandings, especially in connection with insurance benefits in the event of damage . The following is a brief overview of those terms that are particularly relevant in connection with road traffic accidents . A more detailed description of all related questions can be found in the literature. Some passages are quoted directly or analogously in the following.
Value-price
The result of an estimate is always a value and not a price . Rather, the price results from the meeting of supply and demand . The value of a vehicle is determined by estimating - based on comparison objects - and therefore remains abstract. The term price is objective and concrete. It only manifests itself when it is actually sold.
The BGB knows in Kaufrecht the purchase price ( § 433 BGB) and otherwise follows a differentiated concept of value ( market value , compensation , impairment ). The Austrian ABGB uses the term “price” in the same meaning as “value” ( Section 304 ABGB). “Price” is only understood differently if the desired remuneration is meant (§ § 333 ABGB, § 368 ABGB).
In general, however, the value of a thing results from the multiplication of quantity and price:
For example, the price of a financial product is calculated by multiplying the number of items by the price .
Value types
When buying a used car, there are various value conventions that can be used for pricing. The Schwacke list from Autovista is available as an objective tool for pricing .
value
Replacement value
The expected replacement time (WBD) indicates the time that is usually sufficient to get a comparable vehicle back on the regional market. This can take up to 14 days for cars and 12 days for trucks.
Lover value
It is only above the common value for the injured party and results from the fact that the injured party has a special emotional relationship with the damaged item, for example because it is an inheritance or memento (Austria: § 1331 ABGB ). The affection interest does not compensate for a loss of property, but rather an immaterial damage, comparable to the pain and suffering payment for bereavement . The value of the special preference is only eligible for compensation in the event of damage through an act prohibited by the criminal law or out of willful intent and malicious glee.
The measurement is carried out by the court and is therefore not a question of an expert.
Market value
The definition of § 9 BewG "The common value is determined by the price that would be achieved in normal business dealings according to the nature of the asset in a sale" applies to federally regulated taxes and contributions etc. and is therefore not for the assessment of questions of compensation law to use.
The term leaves the quality of the seller open (dealer or private). In practice, the term market value (“market time value ” is misleading and to be avoided!) Is used when selling “private to private” and experience has shown that it lies between the replacement value (e.g. Eurotax yellow) and the retailer's purchase price (e.g. Eurotax blue).
Minimum revenue
The minimum revenue is the sales price that can be safely achieved even in the event of an urgent sale. The upper limit can be i. d. As a rule, the purchase of the honest motor vehicle trade can be assumed, which is reflected, for example, in the average forecast values for the dealer return calculation (Eurotax blue). Experience has shown that it is significantly lower, especially for high-priced vehicles. Applicable to bankruptcies, estate appraisals or other urgent sales.
Residual value (wreck value)
If the vehicle cannot be restored, it is called a wreck . There are both commercial wreck recyclers and private providers, some of whom are organized in the so-called wreck exchange. The attainable wreck revenues fluctuate extremely depending on the interests of the buyer. "Outliers" in the form of isolated specific offers have to be disregarded in the estimate, but the estimate of wreck values is particularly difficult. Questions of the duty to mitigate damage are not questions to be assessed by experts .
Book value
Mercantile depreciation
Objective depreciation (depreciation)
The objective reduction in value (objective loss of value) is a specific feature of Austrian case law, primarily in the area of motor vehicle damages. This is understood to mean that objective, abstract loss of property that the injured party suffers as a consequence of the accident due to the loss of value of his vehicle. The objective reduction in value is limited by the repair costs . As a rule, it is awarded by the Austrian courts if no repairs are carried out.
There are basically two cases:
- Damage worth repairing : If the commercial repair costs do not exceed the replacement value at the time of the accident and no repair is intended, then the objective reduction in value is calculated from the difference between the average value of the undamaged vehicle before the accident and the average value of the damaged vehicle immediately afterwards . When estimating the loss in value, the expert has to quantify in the sense of an asset status comparison how much the market value (mean value between purchase and sales value) of the vehicle has decreased due to the damage (objective reduction in value through market value comparison). The measurement of the objective depreciation by comparing the market value is based on a cost-effective repair or the associated reduced repair costs, taking into account the real market conditions. The financial loss of the injured party is thus balanced out in a market value analysis.
- Total write-off : In the case of total write-offs, in contrast to the damage worthy of repair, the injured party is induced to purchase a replacement vehicle, which is why the objective reduction in value in this case results from the difference between the replacement value of the undamaged vehicle (dealer sales value) and the residual value (dealer purchase value) of the damaged vehicle. In the event of a total write-off, the injured party has the right to purchase an equivalent vehicle from a vehicle dealer and to sell the damaged vehicle to a dealer (objective reduction in value on a replacement basis).
Although this necessary separation has already been comprehensively implemented in expert practice, it can still be observed in isolated cases that, even in the case of damage worthy of repair, the objective reduction in value is determined by calculating the difference between replacement value and residual value. It should be noted that the difference between the replacement value and the residual value includes the dealer margin and must therefore be taken into account by the SV in its estimate, since here a dealer sales value is compared with a dealer purchase value. This would mean that, even in the case of damage worth repairing, the objective reduction in value would be increased by the dealer margin between purchase and sale, which would, however, represent an inadmissible burden on the injuring party. An undifferentiated approach to this question would in any case lead to incorrect compensation payments.
literature
- Robert Fucik et al. (Hrsg.): Handbook of the traffic accident. Part 2: Accident investigation and vehicle damage. 2nd Edition. Manz-Verlag, Vienna 2008, ISBN 978-3-214-12904-0 .
- A. Kodek, W. Pfeffer: The objective residual and depreciation value of damaged motor vehicles. In: Richterzeitung. 2009, p. 254ff.
- Ottlyk, Gwercher, Pfeffer: Concepts of value and current methods of vehicle valuation. Festschrift 100 years of the SV Main Association. 2013, p. 465 ff.
- Pfeffer, Ottlyk: The computer-aided determination of residual vehicle values and claims from vehicle warranties. ZVR 2008, p. 454f.
- Paul Nechvatal, Bernhard Wielke: Definitions of the value of a motor vehicle. In: experts. 2/2011, p. 86.
Individual evidence
- ^ Robert Fucik / Franz Hartl / Horst Schlosser (eds.), Handbook of Traffic Accidents , Part 2, Manz-Verlag, 2008.
- ^ Paul Nechvatal / Bernhard Wielke: Definitions of the value of a motor vehicle. In: experts. 2/2011, p. 86. (PDF; 222 kB)
- ↑ UGMAN KfZ - Website Website of the UGMAN Experts GmbH. Retrieved April 21, 2016.
