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Car Forum / Mercedes-Benz Cars / December 2005Used Mercedes Pricing?
I have a 1989 560SL with only 46,000 miles that I've decided to sell. I've never sold a used car before and I'm thoroughly confused about how to price it. When I go to Kelly Blue Book to get a private party value, I'm told that the car should be priced at $15,200. NADA indicates a slightly higher price. However, when I view the 1989 560SL's with comparable mileage and condition that are being offered for sale online, I see that private sellers are pricing around $25,000 and dealers as much as $40,000. I can understand pricing a car slightly higher than the price at which one is willing to sell. But $10,000+ more than KBB seems weird. What gives? Are 1989 560SL's actually selling at the prices being asked by sellers? If so, why are the KBB and NADA prices so out of line? Check the completed auctions at eBay.com which will give a rough approximation of the used marketplace. Autotrader.com is another site worth examining. >I have a 1989 560SL with only 46,000 miles that I've decided to sell. > [quoted text clipped - 14 lines] > What gives? Are 1989 560SL's actually selling at the prices being asked by > sellers? If so, why are the KBB and NADA prices so out of line? >However, when I view the 1989 560SL's with comparable mileage and condition >that are being offered for sale online, I see that private sellers are >pricing around $25,000 and dealers as much as $40,000. Price it the same as the others in the market. If it doesn't sell, you can always lower the price and try again. Priced for impulse (uninformed) buyers who may believe there's a shortage of these roadsters and that SLs will soon become collectible classics. Perhaps in another thirty years, but not now, IMHO. Used cars' values are age based; their mileage above or below about (11K/year x age) becomes an adjustment to their age based value. The older the car the more its condition, rather than its age, affects its then (rather nominal) value: i.e. is an old car worth $3K in average condition or $6K if in very good condition. In my experience the "book prices" are not going to be too far off unless the car is in exceptional conditon. I would also check Edmunds and the Black Book for comparitive pricing. Gook luck. > In my experience the "book prices" are not going to be too far off > unless the car is in exceptional conditon. I would also check Edmunds > and the Black Book for comparitive pricing. Gook luck. Although these prices are regional, so be sure you are looking at the prices for the correct region... Marty >I have a 1989 560SL with only 46,000 miles that I've decided to sell. > [quoted text clipped - 13 lines] >What gives? Are 1989 560SL's actually selling at the prices being asked by >sellers? If so, why are the KBB and NADA prices so out of line? I doubt that very many 560SL's are actually selling for $25-40k. I agree with the previous poster that the complete auctions on eBay are a better indicator of the current market value. For a really nice example, I'd think $14-15k from a private seller or $17k or so from a dealer would be more in-line with reality.  SignatureScott Gardner "It's a small world, but I wouldn't want to paint it. " - Steven Wright |
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