Prices and Valuation

[spork2367]

Originally Posted by edram454

It was a 1990 red with tan interior at around 16k miles. it sold for 22.5k.

No. It was red with a gray interior and 24,300 miles. (They didn't actually state the mileage on TV.)

http://www.barrett-jackson.com/Event...TTE-ZR1-195980

Originally Posted by Fully Vetted

I agree to an extent. That's also why I said I would not use a dealer. But the reason they pay the premium is because to everyone except us these cars are scary as hell. All they hear about is the exotic engine and lack of parts. Paying a premium to someone they trust is much better than paying a premium to somebody they don't. But make no mistake about it, there are a lot of these cars being sold at dealerships. Enough so that you can't just ignore them if you're trying to establish a market price and go with what you see at the auctions and eBay.

I agree that many laymen feel better going to a dealer. Dealers are still the minority compared to private party sales though. (I consider eBay's "buy it now" private party as the buyer pays no premium.)

Originally Posted by Fully Vetted

I think we just differ in our philosophy. You're trying to establish a market based on cars that didn't sell and I'm saying you should establish the market based on cars that did sell. Which do you think is more accurate? That eliminates the reason it didn't sell (which I think COULD be how and where it's being sold which you disagree) and only concentrates on cars that are sold, the condition, the year and the sell price.

I can see where you're coming from there. The other side is, if these clean low mileage cars aren't selling for 20-25k and the dealership cars by your account are selling for 30-40k, it's not like the other clean low mileage cars aren't selling because they are priced too low. We can completely and reasonably infer that they are priced too high and that is why they aren't selling. Let's face it, there is some maintenance that a 3400 mile car will inevitably need when you buy it, but so long as it hasn't been wrecked, it really isn't going to be hiding a lot of secrets. Abused cars just don't float around with only 3400 miles on the clock.