Crazy asking prices on C5's
Thread Starter
Melting Slicks
Joined: Mar 2009
Posts: 2,833
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From: Location Location
Crazy asking prices on C5's
Why is it that I always see outrageous asking prices on C5's?
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Last edited by Coolface08; Oct 25, 2009 at 12:02 PM.
Race Director
Joined: Mar 2001
Posts: 10,030
Likes: 10
From: Prescott AZ
St. Jude Donor '04
Why is it that I always see outrageous asking prices on C5's?
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Team Owner
Joined: Jul 2006
Posts: 22,198
Likes: 4,185
From: Kannapolis NC
Because:
Everyone is free to ask whatever they want to, just as you are free to offer whatever you want to. If the two don't match up, move on to another that might. I see no value in complaining about what other people are asking for their cars. If they are asking too much, they probably won't sell. But, you never know, someone might come along with less knowledge about the market and pay the asking price.
Le Mans Master
Joined: Aug 2000
Posts: 9,341
Likes: 0
From: Las Vegas Nevada
A year ago I bought my '04 A4 Vert with 50k miles on it for $24k. The dealership had it priced at $32k, marked it down to $28k for thier "we gotta get this thing off the lot before January 1st because we paid to much for it and we can't afford to pay taxes on it" sale. I probably paid to much for it but how often do you find exactly the car you were looking for, with all the options you wanted, in the color combination you wanted, on a dealerships lot exactly when you're looking for it. Consiquently, the dealership next door to the one I bought my car from got a triple black '03 Vert just like mine minus the few appearance mods mine has about 6 months later and listed it at $30k. Loaded Verts are still bringing decent prices in Vegas. I've seen coupes go for low teens and the average is probably around $16-17k here.
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Burning Brakes
Joined: Nov 2008
Posts: 764
Likes: 0
From: Arden NC
I guess people don't want to give up their hard earned possesions just because KBB says so. I'm not trying to be an ***, I just feel that sellers have the right to ask what they want. It doesn't mean that the seller will get the asking price, but they also don't have to settle either.
Melting Slicks
Joined: May 1999
Posts: 2,365
Likes: 0
From: Vancouver BC
Everybody can ask as much as they want to for their car...if they find a buyer, than they made the right choice...if not, they might go lower after a few weeks...I don't complain if the C5 prices go up...I already have one 
Racer
Joined: Sep 2009
Posts: 410
Likes: 1
From: In Central TX
A year ago I bought my '04 A4 Vert with 50k miles on it for $24k. The dealership had it priced at $32k, marked it down to $28k for thier "we gotta get this thing off the lot before January 1st because we paid to much for it and we can't afford to pay taxes on it" sale. I probably paid to much for it but how often do you find exactly the car you were looking for, with all the options you wanted, in the color combination you wanted, on a dealerships lot exactly when you're looking for it. Consiquently, the dealership next door to the one I bought my car from got a triple black '03 Vert just like mine minus the few appearance mods mine has about 6 months later and listed it at $30k. Loaded Verts are still bringing decent prices in Vegas. I've seen coupes go for low teens and the average is probably around $16-17k here.
Instructor
Joined: Oct 2009
Posts: 123
Likes: 0
Everyone is free to ask whatever they want to, just as you are free to offer whatever you want to. If the two don't match up, move on to another that might. I see no value in complaining about what other people are asking for their cars. If they are asking too much, they probably won't sell. But, you never know, someone might come along with less knowledge about the market and pay the asking price.
Instructor
Joined: Oct 2009
Posts: 123
Likes: 0
Why is it that I always see outrageous asking prices on C5's?
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Actual examples not taken from Corvette Forum
1997 - 103,000 miles asking $16,000.
That car will sell at $12k, not 16k.
1998 - 129,000 miles asking $17,900
Haha, ok. Maybe if you divide mileage by 5.
I realize there is a difference between asking and selling prices, and that asking prices aren't always representative of what the seller will take, but these are classified ads with firm asking prices (unless otherwise noted.)
I know I've never seen a C5 with over 100,000 miles go for above $13.5k since the market has been in it's current state.
It gets even worse on cars with lower mileage:
'02 - 40,000 miles - asking $25k
Maybe if it were a z06 and I divided mileage by 5. Maybe.
Since it is a car with more than 100,000 miles, I would never offer more than $5000 or so. Older high mile cars are a disaster waiting to happen. New tires, a new clutch, a brake job, and the buyer could be looking at spending thousands and thousands of dollars more to keep the old car running.
Instructor
Joined: Oct 2009
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Safety Car
Joined: Oct 2007
Posts: 3,903
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From: You know your drunk when you swerve to miss the tree then you realize its your air freshener! Covington Ga
Thats the way I look at it, yeah if someone needs fast money they will sale cheap, but someone that wants to start with a new toy will have their price and yeah you might not like it but its not your car.I wouldnt sale my 01 with 48xxx miles (aolt of mods) for less than $23,000, but thats just me. Like I said everyone has their price.
Last edited by 0331MARINE; Oct 25, 2009 at 02:26 PM.
Race Director
Joined: Mar 2004
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Likes: 886
From: Fort Wayne IN
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The 1997 with 103,000 miles probably has a Kelly Blue Book value closer to $7,000 "fair condition" trade-in. Maybe even less. That 98 is probably in the same ballpark.
Since it is a car with more than 100,000 miles, I would never offer more than $5000 or so. Older high mile cars are a disaster waiting to happen. New tires, a new clutch, a brake job, and the buyer could be looking at spending thousands and thousands of dollars more to keep the old car running.
Since it is a car with more than 100,000 miles, I would never offer more than $5000 or so. Older high mile cars are a disaster waiting to happen. New tires, a new clutch, a brake job, and the buyer could be looking at spending thousands and thousands of dollars more to keep the old car running.
Fair condition and low options came up at 9775. The way vehicles are built now 100K is nothing. It's an old school falsity concerning the reliability of cars over 100K miles anymore.
Your logic with this thread amuses me. Can't find a Vette cheap enough that you like?
Race Director
Joined: Mar 2001
Posts: 10,030
Likes: 10
From: Prescott AZ
St. Jude Donor '04
Check your facts. http://www.kbb.com/KBB/UsedCars/PricingReport.aspx?WebCategoryId=35&Year Id=1997&Mileage=109000&VehicleClass=Used Car&ManufacturerId=9&ModelId=45&PriceTyp e=Private+Party&VehicleId=7395&Selection History=7395|31700|62234|0|0|277570|true |277586|true|277592|true|277592|false|27 7580|true|277586|false|277639|true&Condi tion=Good&QuizConditions=
Fair condition and low options came up at 9775. The way vehicles are built now 100K is nothing. It's an old school falsity concerning the reliability of cars over 100K miles anymore.
Your logic with this thread amuses me. Can't find a Vette cheap enough that you like?
Fair condition and low options came up at 9775. The way vehicles are built now 100K is nothing. It's an old school falsity concerning the reliability of cars over 100K miles anymore.
Your logic with this thread amuses me. Can't find a Vette cheap enough that you like?
Like I already told him in another thread. There are Zero C5's selling at the Manheim auctions with under 100k for less then $10,000. There are a few with over 100k in the high 8's and 9's. So if he wants to keep his head in the sand thinking he can pick up a nice C5 for 6k to 7k let him. You might find a desperate guy that lost his job that is dumb enough not to go to Carmax but I doubt it.
Instructor
Joined: Oct 2009
Posts: 123
Likes: 0
Check your facts. http://www.kbb.com/KBB/UsedCars/Pric...uizConditions=
Fair condition and low options came up at 9775. The way vehicles are built now 100K is nothing. It's an old school falsity concerning the reliability of cars over 100K miles anymore.
Your logic with this thread amuses me. Can't find a Vette cheap enough that you like?
Fair condition and low options came up at 9775. The way vehicles are built now 100K is nothing. It's an old school falsity concerning the reliability of cars over 100K miles anymore.
Your logic with this thread amuses me. Can't find a Vette cheap enough that you like?
You may say it is not important if a car goes over 100k miles. But for the guy who has to pay repair bills, 100K miles is important. How much is a clutch? How much does a brake job cost all the way around? How much will it cost to replace the engine when it dies? How much does it cost to rebuild a transmission? How much do new seats cost when the worn out leather starts to rip?