I've always wondered this. Kelly Blue Book says that cars above a certain condition have "Perfect paint with no visible flaws or defects". Now, I think what they are really saying, is no deep scratches, repainted panels, paint transfer, rust, CC failure, etc. But what I read is no swirls, marring, contamination, or fading. But then there's the problem. A guy with a swirled out car, and your flawless car, are worth the same according to "the book", as by their standards, I don't think they consider swirls and marring 'flaws or defects'.
You are correct sir! That is exactly what they are saying! Perfect condition would notate no obvious flaws in the paint, no repainted panels, no body repairs.
Next condition could allow for body repair, but they'd look for anything that didn't align properly, which these days is hard to do considering Insurance Companies only want to pay for AFTERMARKET parts. Read they are NOT paying for OEM parts!!!
My daughters G6 GTP we're picking up tomorrow from yet another wreck. She was sitting at a red light and a guy in a F150 slammed it in reverse and punched a hole completely through her front bumper with the trailer receiver! I threatened to sue the company and the owner, because they were trying to get out of coverage because the guy driving was in his late 30's (a grown freaking man) wasn't NAMED as a driver on the woman's policy.
Give me a friggin' break! I told them that unless the owner had told the police the vehicle was stolen and was prepared to file charges against the driver that I didn't give a rats arse! And of course that the insurance company was prepared to treat it as a stolen vehicle as well!
Anyhow, I had a $845 estimate from the Hennessy GMC/Buick (including a OEM bumper cover) and they refused to pay for it. They cut his estimate by $114 and another $71 on the bumper cover. Me and the Body Shop Manager go way back (he's fixed this car 3 times now himself) so he did it his way giving me the OEM part.

rops:
Getting back to "book values". KBB, NADA, and Black Book will all have different values. Looking at only one doesn't give you a true picture of the value on a given vehicle. Local auction prices are tracked with Black Book and updated weekly. Kelly Blue Book tracks sales more towards the retail market, and includes data from online sources. NADA is a mix of all three. And all of them are regional prices.
Insurance companies like NADA! But, they ALL track sales and values with closely guarded proprietary databases. Auction results for instance are tracked on wrecked vehicles just as they are on undamaged vehicles. They'll track the amount of damage to a vehicle and how that correlates to the salvage return at auction.
Companies will move their business for a 1% difference in returns. Well actually they'll move them for some strange and unexplained reasons (lots of politics involved). Then after they realize they are losing much more than 1%, (some 6 months down the road) they want to bring their business back, and of course they want you to feel like you need to give them some sort of "sweetheart deal" just to regain their business! Like I said, lots of politics involved!
End of the day the only real difference in a "value" is if you keep it up to reasonable standards. What "Autogeeks" do is by all reasons, totally un-reasonable! :laughing: