These are condition guidelines to help assess a vehicle's condition. Keep in mind that there are many factors that affect value. For example, a genuine "barn find" (a rather overused term these days) may on the surface look like a #4 or #5 vehicle, but it's time capsule character often means it is worth far more than it's condition would normally warrant.
A close to perfect original or a very well restored vehicle. Generally a body-off restoration, but a well done body-on restoration that has been extensively detailed may qualify. The vehicle is stunning to look at and any flaws are trivial and not readily apparent. Everything works as new. All equipment is original, NOS, or excellent quality reproductions. Note: cost no object 98+ point concours restorations should be considered 1+ condition. Values can often exceed #1 values.
#2 Very Good
An extremely presentable vehicle showing minimal wear, or a well restored vehicle. Runs and drives smooth and tight. Needs no mechanical or cosmetic work. All areas have been detailed to some degree. Beautiful to look at but clearly below a #1 vehicle.
Presentable inside and out with some signs of wear. Not detailed but very clean. Body should be straight and solid with no apparent rust and absolutely no rust-through anywhere. Shiny, attractive paint but may have evidence of minor fading or checking or other imperfections. Runs and drives well. May need some minor mechanical or cosmetic work but is fully usable and enjoyable as is.
Runs and drives OK but needs work throughout the vehicle. Body shows signs of wear or previous restoration work. Any rust should be minimal and not in any structural areas. Cosmetics, body, and mechanics all need work to some degree.
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