The catalogue value of a vehicle is the value read from the catalogue published by the AMSS Centre for Motor Vehicles (AMSS is the Automobile and Motorcycle Association of Serbia). In everyday conversation it is often treated as the same thing as market value, although the two are not the same concept.
The catalogue value is the base. It is the starting basis from which we begin a vehicle valuation, a damage assessment (when calculating total losses) or an expert report on the amount of material damage. That starting basis is then corrected by applying various correction factors, for example: the equipment package, the characteristics of the vehicle, its age, the date on which the value is determined and others. This article explains how that tool works and where its limits are.
What the catalogue value of a vehicle is
The catalogue value is a standardised value of a particular model of vehicle, working machine, plant equipment and similar, together with all the characteristics that go with that movable asset, derived from its price when new and reduced (depreciated) primarily according to age. The catalogue covers a large number of models and versions, so the specific value is established on the basis of the data for that vehicle or asset taken from customs documentation, importer price lists, the vehicle registration document, the registration certificate or other public documents relating to that specific asset.
That is also where its limitation lies. The catalogue describes a specific model, but not your vehicle. Two cars of the same make, equipment level and year of manufacture can have significantly different actual values.
Catalogue value, market value and appraised value
Three terms are mixed up in practice, yet they mean different things. We write in more detail about how the catalogue value is established and why online calculators return different amounts in the article AMSS vehicle value catalogue.
| Term | What it represents | How it is obtained |
|---|---|---|
| Catalogue value | A standardised value of a model | By reading it from the catalogue |
| Market value | The price achieved on the market at a given moment for a specific model | By comparison with vehicles offered for sale and with completed sales |
| Appraised (actual) value | The value of one specific vehicle, with every relevant parameter established | By inspecting the vehicle and establishing its age, condition, mileage, manner of use and investments made, together with market price movements and the catalogue value, and by preparing an expert report |
What affects the value of a specific vehicle
- The particular make, model, sub-model, equipment package and other specific features
- The age of the vehicle, that is the year of manufacture and the year of first registration
- The mileage covered compared with the average mileage defined for that age
- General condition, state of preservation and service history
- Any earlier damage, the extent of repairs and the quality of the work carried out
- The manner of use, because a taxi and a family car of the same year will not be valued in the same way
- Additional equipment and investments made in the vehicle
- Demand for that particular model on the market in question
None of these factors can be established from the catalogue.
What you need the catalogue value for
The catalogue value is not an end in itself. In practice it is requested for four specific reasons.
Tax on the transfer of absolute rights when a vehicle is bought or sold
When a vehicle is sold, the tax base does not have to match the price written into the contract. The catalogue value is one of the indicators used as a reference in that procedure, and we write about it in more detail in the article on the tax on the transfer of absolute rights. We do not calculate taxes and we do not provide tax advice, but we prepare a vehicle valuation report that can be used as evidence before the competent authority.
The starting value for comprehensive (kasko) insurance
When a comprehensive policy is taken out on an agreed sum insured, the insurer starts from the value of the vehicle at the moment the contract is concluded. If that value is set too high, you pay a higher premium than you need to. If it is set too low, you receive less than you are entitled to when a loss occurs. An independently established value prevents both scenarios, and we can also help with the policy itself through our insurance consulting.
The starting basis for calculating a total loss
A total loss is declared when the cost of repair exceeds a certain percentage of the value of the vehicle before the accident. The catalogue value is the starting point of the entire total loss calculation, so every error in it directly affects the final amount of compensation you receive as a client. That is why, in disputes over total losses, the argument in most cases is precisely about the established value of the vehicle before the total loss occurred.
Fleet valuation for tax and accounting purposes
Companies with a larger number of vehicles are required to state the value of their fleet in their books. The catalogue value is a quick way to obtain an orientation for an entire fleet at once, and where a report is needed that will stand up before an auditor or a tax authority, we carry out an individual valuation of each vehicle.
When the catalogue is enough and when a valuation is needed
The catalogue is enough when you need a rough orientation about the order of magnitude of the value of an asset, or for the purpose of establishing certain tax and other financial obligations.
An independent valuation is needed when the actual value of a specific vehicle or other movable asset has to be established for various purposes, for example:
- Concluding or terminating a leasing contract or a loan
- Court and out of court proceedings, enforcement, bankruptcy and liquidation
- Establishing the sum insured and settling compensation claims
- A total loss, where the value of the vehicle is compared with the cost of repair
- Vehicles that are not in the catalogue or on the market, such as special purpose vehicles
- Working machines and plant equipment, where the catalogue covers only some of the makes and sub-types and the market offers very few comparable units
What our valuation procedure looks like
- Collecting the documentation for the vehicle
- Inspecting the vehicle and establishing its condition as found
- Analysing market indicators and comparable vehicles
- Preparing a report with a reasoned value
The report sets out the methodology used, so it can be used before insurance companies, banks and other institutions.
For the valuation of vehicles, working machines and plant equipment call +381 65 357 57 33 or write to office@pro-expert.rs.
Frequently asked questions
Is the catalogue value the same as the market value?
It is not. The catalogue value is a standardised value of a model, while the market value is the price actually achieved for a particular type of vehicle (make, model, sub-model). The two can coincide, but they often differ.
Can the catalogue value be higher than the actual value of my vehicle?
It can. A vehicle with high mileage, earlier damage or neglected maintenance is worth less than the average for its model. The opposite is also true, as a well kept vehicle with a documented history can be worth more. Another reason for differences between the catalogue value and the actual value of a vehicle lies in the loss of value due to age, which in the catalogue is calculated according to set rules for every month of the age of the vehicle, while the actual value is affected by many other factors in addition to the age related correction factors already mentioned.
Does the catalogue apply to working machines and plant equipment?
The catalogue contains certain models of working machines and plant equipment, but it does not cover all makes and sub-types present on the world market. For models that are not in the catalogue, importer price lists, purchase invoices for new machines and equipment, customs documentation and similar sources are used as the basis. Establishing a specific value always also includes an analysis of the number of operating hours, the condition, usability and functionality of the machine, the way it has been maintained and price movements on the market.
What if my vehicle is not in the catalogue?
For such vehicles we obtain price lists from importers and suppliers, price lists from manufacturers and from regional or continental dealers, and similar sources. The data obtained is then compared with all the other parameters we use when establishing the actual value: the condition of the vehicle, its mileage, equipment, origin, maintenance history and price movements on the market. All of this is explained in detail in the valuation report.
How long does it take to prepare a report?
The deadline depends on the type of asset and on the availability of documentation. We confirm the exact deadline when the work is agreed, before it starts.
Is the catalogue value used for tax when a vehicle is bought or sold?
The catalogue value is one of the indicators used as a reference for the tax on the transfer of absolute rights. We do not calculate taxes, but we prepare a vehicle valuation report that can be used as evidence in proceedings before the competent authority.
Which value does the insurer take for comprehensive (kasko) insurance?
The insurer starts from the value of the vehicle at the moment the policy is concluded. A value set too high means a higher premium than necessary, while a value set too low means a smaller payout when a loss occurs. An independent valuation report prevents both scenarios.
As at which date is the value of a vehicle established?
That depends on the task. In damage cases the value is most often established as at the date the damage occurred, and less often as at the date the report is prepared. For a sale or for insurance it is the date the transaction is concluded, and by order of a court it can be some third date. The catalogue value is always the starting basis, which is then corrected by the factors that apply on that date.
How is the catalogue value used in a total loss?
As the starting point of the entire calculation. A total loss is declared when the cost of repair exceeds a certain percentage of the value of the vehicle before the accident, so every error in that starting value directly affects the final amount the injured party receives in the compensation process. If the insurance terms provide that only the catalogue value and depreciation by age are to be used, only that element is applied. If the actual value is being established, the starting point is the catalogue value, which is then corrected for the age of the vehicle, its condition, equipment, mileage, manner of use, investments made and price movements on the market.
Is the catalogue value also used in an expert report on the amount of material damage?
Of course. In such a report the relationship between the cost of repair and the value of the vehicle before the damage is established, and that value is derived from the catalogue basis with corrections. Where the additional task is to establish the circumstances in which the event occurred, this is accompanied by analysis of the data taken from the vehicle and reconstruction of the accident.
