Pricing number 2 cars

Started by Cadillac Joe, August 10, 2006, 10:54:11 PM

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Cadillac Joe

I would like some feedback concerning buying a number 2 car. Old Car Price Guide states prices for models, yet many sellers set prices for cars much higher than what is normal. Pricing seems to be based on their interpretation in many cases. Also, some thoughts on why a solid number 2 car may be priced several thousand dollars higher than the stated price OCPG, almost to the point that it is a number 1 price.

Bruce Reynolds # 18992

I too have been always wondering just where these people get their "values" from, and just how can they be carried over into the real world of actually buying and selling a car.

Plus, I find that most Numbering Systems arent a true and accurate measurement of each vehicle, but an overall Guestimate as nothing in the Automotive Industry can ever fall into the ranges that they provide.

Bruce,
The Tassie Devil(le),
60 CDV

Matt Mersereau

Price guides are just that, a guide. There is no agency that dictates the selling price of an old car, or anything else for that matter. If a seller wants to ask for ten times the book value for his car, he has the freedom to do so. As a buyer, you have the freedom to not buy his car.

Another thing to consider; If every seller of the type of car that you want is asking more than the price guides call out, which is more accurate- The price guides, or the ones controlling the supply of said cars?

Bill Gauch

First, I can say that I have no idea how old car price guides get their numbers. Back in the day when I collected comics, cards, etc., I used price guides all the time. Theoretically, those prices were the national (U.S.) average of all sales a particular item in some past ammount of time. Usually, they were 3-6 months out of date and covered the sales for 6-12 months before that. When all was said and done, you had a number. If you were selling to a dealer, you could expect 25percent-50percent of that number. Some generous stores would give you 75percent in store credit. Also, when buying, that number was only a guide. Most sellers added a "regional" adjustment becuase, as they would say, "that number is always a little low..."

Taking it back to cars, the guides must do something similar to arrive at a price. If a particular car hasnt sold in a while, it may be that the average is too out of date to be meaningful. More likely, though, they picked up the same guide you did and, figured that their car was a 2+, maybe even a 1 and priced it accordingly. Alternately, they just pulled the number out of the air and it happened to be somewhat close.

Personally, when buying anything, I determine the maximum that I am willing to pay, reguardless of what someone or something says its worth. Then, I try to get it for less than that. If it is truely worth more that I want to pay, then I dont get to be the buyer. Use your judgement for the condition of the car and what you think it is truely worth.

Joe Abernathy #17524

Anything, whether paintings, jewelry, cars, houses, whatever, is only worth what another person is willing to pay for it.