Confusing prices
Thread Starter
Burning Brakes
Joined: Aug 2006
Posts: 1,147
Likes: 18
From: Thompsons Station Tennessee
Confusing prices
I took some time today to look up a few car prices due to the fact that I am looking both to sell and to buy.
My car is a 2003 Z06 with 18,900 miles on it.
KBB pricing Retail GOOD 26,919
Private Party GOOD 29,669
Edmonds pricing Retail GOOD 17,961
Private Party GOOD 15,151
The car I am looking to buy a 2003 Anniversary Convertible 33,600Mi
KBB pricing Retail GOOD 34,041
Private Party GOOD 30,241
Edmonds Pricing Retail GOOD 16,957
Private Party GOOD 14,745
This blows my mind as how they could be so far apart!
Looks to me as if I want to sell using KBB and buy using Edmonds!
I used to work at a GM dealer selling cars and no matter what they always used the Black Book which is based on local auction prices to set the trade in value and the used car manager set the trade in price usually on the lowest Balck Book value. This is why if you are not happy with the price they always come back and offer you a little more for your car.
COMMENTS?
My car is a 2003 Z06 with 18,900 miles on it.
KBB pricing Retail GOOD 26,919
Private Party GOOD 29,669
Edmonds pricing Retail GOOD 17,961
Private Party GOOD 15,151
The car I am looking to buy a 2003 Anniversary Convertible 33,600Mi
KBB pricing Retail GOOD 34,041
Private Party GOOD 30,241
Edmonds Pricing Retail GOOD 16,957
Private Party GOOD 14,745
This blows my mind as how they could be so far apart!
Looks to me as if I want to sell using KBB and buy using Edmonds!
I used to work at a GM dealer selling cars and no matter what they always used the Black Book which is based on local auction prices to set the trade in value and the used car manager set the trade in price usually on the lowest Balck Book value. This is why if you are not happy with the price they always come back and offer you a little more for your car.
COMMENTS?
Pro
Joined: Dec 2011
Posts: 718
Likes: 69
From: North Reading MA
I took some time today to look up a few car prices due to the fact that I am looking both to sell and to buy.
My car is a 2003 Z06 with 18,900 miles on it.
KBB pricing Retail GOOD 26,919
Private Party GOOD 29,669
Edmonds pricing Retail GOOD 17,961
Private Party GOOD 15,151
The car I am looking to buy a 2003 Anniversary Convertible 33,600Mi
KBB pricing Retail GOOD 34,041
Private Party GOOD 30,241
Edmonds Pricing Retail GOOD 16,957
Private Party GOOD 14,745
This blows my mind as how they could be so far apart!
Looks to me as if I want to sell using KBB and buy using Edmonds!
I used to work at a GM dealer selling cars and no matter what they always used the Black Book which is based on local auction prices to set the trade in value and the used car manager set the trade in price usually on the lowest Balck Book value. This is why if you are not happy with the price they always come back and offer you a little more for your car.
COMMENTS?
My car is a 2003 Z06 with 18,900 miles on it.
KBB pricing Retail GOOD 26,919
Private Party GOOD 29,669
Edmonds pricing Retail GOOD 17,961
Private Party GOOD 15,151
The car I am looking to buy a 2003 Anniversary Convertible 33,600Mi
KBB pricing Retail GOOD 34,041
Private Party GOOD 30,241
Edmonds Pricing Retail GOOD 16,957
Private Party GOOD 14,745
This blows my mind as how they could be so far apart!
Looks to me as if I want to sell using KBB and buy using Edmonds!
I used to work at a GM dealer selling cars and no matter what they always used the Black Book which is based on local auction prices to set the trade in value and the used car manager set the trade in price usually on the lowest Balck Book value. This is why if you are not happy with the price they always come back and offer you a little more for your car.
COMMENTS?
Race Director
Joined: Sep 2006
Posts: 11,204
Likes: 1,139
From: Santa Rosa Beach FL
Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
your z06 is worth more than a vert, at bare minimum it's equal to. toss kelly and edmunds out the door. one is too high and the other too low. if you list at kbb the car never sells, if you list at edmunds it will be sold in a matter of hours. NADA is closer to realistic prices in a lot of cases than kbb or edmunds. search the completed auctions on ebay, while not 100% accurate since some of them are buddy bid you can spot trends and get an overall feeling of value.
watch ebay, autotrader and craigslist. what you really want to gun for is a 3 point system. you have your books, ebay and personal testimony, and you have listings. between those 3 variables you'll start getting a feel for any given car.
full dealer retail on something nice appears to be around
http://cgi.ebay.com/ebaymotors/2004-...t_24066wt_1165
if you didn't want to deal with selling and tracking down another i'm fairly sure a place like texas direct would love to trade your car for this one. the deal is in their favor of course but that's the only way a dealer will trade.
in my honest opinion corvettes are kind of a rough car to buy or sell. just isn't a lot of liquidity and you have to search for the right car
watch ebay, autotrader and craigslist. what you really want to gun for is a 3 point system. you have your books, ebay and personal testimony, and you have listings. between those 3 variables you'll start getting a feel for any given car.
full dealer retail on something nice appears to be around
http://cgi.ebay.com/ebaymotors/2004-...t_24066wt_1165
if you didn't want to deal with selling and tracking down another i'm fairly sure a place like texas direct would love to trade your car for this one. the deal is in their favor of course but that's the only way a dealer will trade.
in my honest opinion corvettes are kind of a rough car to buy or sell. just isn't a lot of liquidity and you have to search for the right car
Last edited by racebum; Feb 3, 2013 at 12:54 PM.
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
Yes, it's confusing. I used to be an advocate of Edmunds as they used to be the most realistic, but their current pricing of Corvettes is out the window. KKB has always been waaay too high, but lately their Corvette prices seem high but not as high.
The best way to gauge things is to look on E-Bay and make sure you select the "completed listings" only option. (Used to be easy to find, now you have to select "more refinements", then scroll down in the "formats" section to "show only", then select "completed listings"). Red prices are no sales, Green prices are completed sales.
My own opinion, for what it is worth, as Buffalo Springfield would say, is that your 2003 Z06 with 19,000 miles, assuming well optioned, would sell for $22K to $25K. A 2003 Anniversary EDITION convertible with 34,000 miles should sell for $24K-$27K.
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The best way to gauge things is to look on E-Bay and make sure you select the "completed listings" only option. (Used to be easy to find, now you have to select "more refinements", then scroll down in the "formats" section to "show only", then select "completed listings"). Red prices are no sales, Green prices are completed sales.
My own opinion, for what it is worth, as Buffalo Springfield would say, is that your 2003 Z06 with 19,000 miles, assuming well optioned, would sell for $22K to $25K. A 2003 Anniversary EDITION convertible with 34,000 miles should sell for $24K-$27K.
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Instructor
Joined: Jun 2007
Posts: 187
Likes: 0
From: Scottsdale AZ
Team Owner
Joined: Jul 2006
Posts: 22,182
Likes: 4,178
From: Kannapolis NC
For one thing, Edmunds doesn't even list the Anniversary Edition option in their valuation. KBB sounds like more than they are actually selling for.
I don't even look at Edmunds any more, they have lost their credibility for several reasons for reasonable pricing.
I've communicated with you about my 03 Anniversary Edition convertible that I have listed on the forum for sale. I sold it today from an ad on usedcorvettesforsale.com for $27K. It has 19,700 miles. A couple drove from Maryland, drove it today and they're wiring the money tomorrow from the bank where she works. When the money is in my account, they are heading back with a great car at a price both parties accepted.
I've sold three Corvettes in the last few years and all three were respondants from usedcorvettesforsale.com, not one from the forum. I have had many offers from the forum, but have accepted none. There are a small number of members here who cruise the forum talking down prices. Some don't even own a Corvette, they're just looking for something cheap to sell at a profit in another venue.
Good luck in your search, the car you're seaching for is, in my opinion, the best looking color combination ever in a Corvette. I hope you are able to connect with a seller in your price range.
I don't even look at Edmunds any more, they have lost their credibility for several reasons for reasonable pricing.
I've communicated with you about my 03 Anniversary Edition convertible that I have listed on the forum for sale. I sold it today from an ad on usedcorvettesforsale.com for $27K. It has 19,700 miles. A couple drove from Maryland, drove it today and they're wiring the money tomorrow from the bank where she works. When the money is in my account, they are heading back with a great car at a price both parties accepted.
I've sold three Corvettes in the last few years and all three were respondants from usedcorvettesforsale.com, not one from the forum. I have had many offers from the forum, but have accepted none. There are a small number of members here who cruise the forum talking down prices. Some don't even own a Corvette, they're just looking for something cheap to sell at a profit in another venue.
Good luck in your search, the car you're seaching for is, in my opinion, the best looking color combination ever in a Corvette. I hope you are able to connect with a seller in your price range.
Pro
Joined: Nov 2012
Posts: 541
Likes: 0
From: Raleigh North Carolina
Edmunds is pretty much garbage. I view their TMV as a joke. Bring that to anyone, dealer or private party and they'll either laugh at you, or get pissed. NADA has always seemed to be around the correct pricing on vehicles I've purchased.
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Thread Starter
Burning Brakes
Joined: Aug 2006
Posts: 1,147
Likes: 18
From: Thompsons Station Tennessee
Congrats on selling yours! And thanks for letting me know the details especially the price. I have not listed my car for sale yet "I have to sooth the wife first". I have gone through 12 of them but it has taken me 47 years!
Thread Starter
Burning Brakes
Joined: Aug 2006
Posts: 1,147
Likes: 18
From: Thompsons Station Tennessee
Idon't have access to the NADA but as I mentioned in my post I used to sell cars and the dealers aroud here all use the Black Book. It contains auction prices and is pretty accurate. Problem is you have to buy a subscription.
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
http://www.nadaguides.com/?gclid=CN_...FWKCQgodwAkAoA
Or is this the consumer version and not as accurate?
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Or is this the consumer version and not as accurate?
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Administrator
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Those are probably much more realistic prices. There is no way I would pay $30-34K for a 2003 Anniversary Vert.
Drifting
Joined: Apr 2006
Posts: 1,936
Likes: 13
From: Redding California
So I guess all Z06s are pretty much equally optioned.
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Race Director
Joined: Jan 2008
Posts: 16,028
Likes: 170
From: oregon
brand new 2013 coupe is 36k from les stanford and you're trying to argue a 10 year old c5 is worth 30?
and you guys wonder why these cars don't sell and everyone is a bottom feeder
Team Owner
Joined: Jun 1999
Posts: 41,793
Likes: 153
From: Houston,Texas USA
You want to see far apart prices.,look at the book prices, and then take your car to the dealer and see what the trade in offer is. My 04 was less than 50% of low book. That was six months ago. I was told that 25,000 miles on an 04 is very high, and the 6 speed manual transmission car, is not something that would be easy to sell.
Last edited by Tom/99; Feb 8, 2013 at 07:20 AM.
Le Mans Master
Joined: Jun 2009
Posts: 6,528
Likes: 752
From: South Dakota
KBB showed the 2003 Anniversary Convertible 33,600Mi pricing for Retail GOOD at 34,041
In addition to the great prices on new 2013's, I have a GM mastercard that takes another $4000 off that price. ($3000 + a $1000 private offer). That makes a new 2013 less for me than what KBB says for a 10 year old.
The pricing has gone crazy.
