89 420sel $11,500?????????????????????????
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is it the last of something?
No, it's because NADA doesn't know squat about Benzes. It proves a point, however - the only way to tell the value of a car is to actually spend some time (heaven forbid!) researching the market and learning from comparisons.
I haven't seen a price difference like this in the Mustang world but what Irish' told you is true. Blue book doesn't mean much because they can't judge what things will actually sell for. As an example, a '93 5.0 coupe is just a 17 year old or so Ford to them and all but worthless. In the real world, the car could be worth 5k in a clapped out condition depending on color and options.
Still, things are only worth what another will pay and that can't be argued.
Still, things are only worth what another will pay and that can't be argued.
Exactly true - Except sad to say is that NO ONE uses that guide in the real car world.
Classic vs. not
The difference is in classic vs. not. Next year the 90 models will jump up. My 89 K5 is in the same position. My 90 300SE looks weak in the book but will jump next year. It has no bearing on the actual value of the car. It is a plus if you borrow money on the car and the bank looks at NADA.
The difference is in classic vs. not. Next year the 90 models will jump up. My 89 K5 is in the same position. My 90 300SE looks weak in the book but will jump next year. It has no bearing on the actual value of the car. It is a plus if you borrow money on the car and the bank looks at NADA.
'88 560sec (180k mi.), '82 380sec (236k mi.), '86 560sec (?miles)
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Yea I would understand most of the world using other judgement on car values, although when I salvaged my '77 280SE the insurance company based the value on the average value of three cars for sale of the same and the NADA value. That car had over 360k and still ran too! That was quite a while ago though.
my collectors ins co insures my 91 sdl for $27,500 now.....i bumped it up after the mb factory fresh 603 rebuilt went in...
...except for the government, which uses it to base taxes; hence, the pressure to keep the prices artificially high. For the original market and purpose of the guide, the NADA guide is doggie dirt.
2004 S500 4Matic, 2018 Ford Expedition Max, 2017 Jaguar F-Pace S, 2016 BMW 750i
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547 Posts
We all agree that NADA is misleading and useless for our cars.... but what pricing source can you use to negotiate with a seller? I want to look at a '85 380SE, one owner car, 85000 miles that has supposedly had all work done on time with documentation. The owner is basing the asking price on the NADA book, $9000.
I know that is high for this car, not really the most desired model in the w126 lineup. I need something in writing that I can show to this person when we get to the negotiation stage, if we get there. Gut feeling tells me this is a $4500-5000 car, and will be less if condition and documentation are not all there.
John
I know that is high for this car, not really the most desired model in the w126 lineup. I need something in writing that I can show to this person when we get to the negotiation stage, if we get there. Gut feeling tells me this is a $4500-5000 car, and will be less if condition and documentation are not all there.
John
Value
The members of this forum can be a big help,however being different parts of the country/world value cars differently. If you have an Ebay membership you can look at completed listings for actual sale prices. If you look at Ebay remember to use common sense as some of these transactions are never finalized.
The members of this forum can be a big help,however being different parts of the country/world value cars differently. If you have an Ebay membership you can look at completed listings for actual sale prices. If you look at Ebay remember to use common sense as some of these transactions are never finalized.
I've dealt with buyers who think my price should be lower based on NADA/KBB, and sellers who think their cars are worth way more than they are because of NADA/KBB.
It's very simple to negotiate with these people - do it just like real estate. Use comps (comparables). Look at the market in your area. Find cars in similar condition and base the value off those cars. You can almost always find things to show why your car is worth more or their car is worth less than the comps, and use that for negotiations.
My favorite example is KBB & the E36 BMW convertibles. KBB has them thousands above what the market supports. Some of these sellers list these 10-15 year old convertibles with 150,000 miles on them at 10,000+. They're smoking crack. The market is supporting maybe 6-7,000 for those cars right now, and they all think they have much more expensive cars. They wonder why their cars have been sitting with no real interest in them for 5 months - it's because the market isn't really what KBB/NADA thinks it should be.
Whenever people try to negotiate with me using KBB/NADA, I stop them and tell them I'm not interested in talking about that. The current market is all that matters. Another good thing to mention is that KBB/NADA is a *LAGGING* indicator. It shows where the market WAS, not IS, and that doesn't matter right now.
It's very simple to negotiate with these people - do it just like real estate. Use comps (comparables). Look at the market in your area. Find cars in similar condition and base the value off those cars. You can almost always find things to show why your car is worth more or their car is worth less than the comps, and use that for negotiations.
My favorite example is KBB & the E36 BMW convertibles. KBB has them thousands above what the market supports. Some of these sellers list these 10-15 year old convertibles with 150,000 miles on them at 10,000+. They're smoking crack. The market is supporting maybe 6-7,000 for those cars right now, and they all think they have much more expensive cars. They wonder why their cars have been sitting with no real interest in them for 5 months - it's because the market isn't really what KBB/NADA thinks it should be.
Whenever people try to negotiate with me using KBB/NADA, I stop them and tell them I'm not interested in talking about that. The current market is all that matters. Another good thing to mention is that KBB/NADA is a *LAGGING* indicator. It shows where the market WAS, not IS, and that doesn't matter right now.
2004 S500 4Matic, 2018 Ford Expedition Max, 2017 Jaguar F-Pace S, 2016 BMW 750i
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547 Posts
Thanks, Jeff! You're right about location - I lived in Cincinnati area for years where the w126 still commands respect. Even the dealership still treats owners well. Down here in east Tennesssee the dealership flatly refused to do anything more than an oil change and brake work for the old 560SEL.
John
John
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