I agree that the NADA price is low. Although I am sure that 16000 mile number is simply the 150,000 number extrapolated for the maximum low mileage credit. They use an average and give credit or deduction for mileage differences from average. We know a 16000 mile car is a completely different animal than a 150000 mile car with a big credit for low mileage. Right?
Here are your NADA numbers for a car with 90,000 miles:
RoughTrade-In AverageTrade-In CleanTrade-In CleanRetail
Base Price $1,900 $3,350 $4,575 $6,150
Mileage - 90,000 miles $2,287 $2,287 $2,287 $2,287
TOTAL PRICE $4,187 $5,637 $6,862 $8,437*
Here are the numbers for this same car with 100 miles:
Base Price $1,900 $3,350 $4,575 $6,150
Mileage - 100 miles $2,287 $2,287 $2,287 $2,287
TOTAL PRICE $4,187 $5,637 $6,862 $8,437*
I think this proves that they are just allowing for a credit of some % for low miles.
Fortunately for us, none of these cars has become really collectible. So the prices reflect what a market of drivers as opposed to collectors will pay to drive a 20 year old car. But don't we all know that both the sedans and coupes transcend the age tag? A car in the condition of this SEC may have some surprises when it is put back into service, but at what cost? $3-5K unless someone didn't start it for 5 years or whatnot. Then it is a better car from a daily driver's standpoint than a 2007 S550 or equivalent? What does that car have that a 1991 560SEC lacks other than side airbags and a lot of electronic junk that will probably just require service anyway? And, I'd rather own the 1991 SEC.
Having said that, I agree that the price is way off, so maybe this one has to come down to earth a little more.