What is the deal?

[tibra1]

BIMMERPOST / Classifieds

Asking Price:

None

Item Interest

Ok so what’s the deal lately with these ridiculously priced cars for sale..I am fully aware of the negotiation tactic of setting the price of a car ultra high so that it equals out somewhere in the middle.

But it seems some of these sellers have genuinely convinced themselves they can get their asking even though it’s not in the realm of any reality.

I have said it before and I will say it again..when buying or selling cars you need to check your feelings at the door.

Sentimental value does not = fair market value

Comments?

[TheDeliverator]

Prices on the used car market are high right now. An Economist could explain why much better then I, but I believe it boils down to more buyers are looking to go used then new in this economy.

**EDIT**

I'm excluding the modded, possibly future collectibles like 1m in the above argument.

[korben dallas]

There is no market where a 2011 M3 with 3 damaged panels and 27k on he clock goes for 96k.

[jc05e46m3]

Originally Posted by korben dallas

There is no market where a 2011 M3 with 3 damaged panels and 27k on he clock goes for 96k.

[THE TECH]

I don't get it. Why do people think that if you add up the retail cost of mods that your car somehow increases value by that much. The adage has always been if you want the most on the sale of your car, you'll need to part out. Also, any car that's been fully repainted will never get as much as a car that's never been painted no matter how nice the job was done.

[SamS]

Originally Posted by korben dallas

There is no market where a 2011 M3 with 3 damaged panels and 27k on he clock goes for 96k.

Lulz. That was a good one. I thought maybe he accidentally hit X2 on his calculator when trying to come up with the correct listing price.

[maxxfish]

Awesome thread! I was just having this conversation this morning with a friend. When you can buy an E9X M3 from Carmax for $38K, how the hell can private owners be asking $45K for the same car? And if you're pricing it that high to give yourself some negotiating room, you've just scared me away as a buyer.

Personally, I'm a cash buyer ready to buy a car TODAY, and almost all the cars in my budget are being sold by dealers who will negotiate. The people selling cars on this site (for the most part) are living in a bubble. If any private sellers out there have a hardtop coupe with DTC for less than $40K, let's talk.

[THE TECH]

Originally Posted by maxxfish

Awesome thread! I was just having this conversation this morning with a friend. When you can buy an E9X M3 from Carmax for $38K, how the hell can private owners be asking $45K for the same car? And if you're pricing it that high to give yourself some negotiating room, you've just scared me away as a buyer.

Personally, I'm a cash buyer ready to buy a car TODAY, and almost all the cars in my budget are being sold by dealers who will negotiate. The people selling cars on this site (for the most part) are living in a bubble. If any private sellers out there have a hardtop coupe with DTC for less than $40K, let's talk.

I doubt the SAME car is selling for such a different amount. Just cause you want the cheapest 08 you can find, doesn't mean people on here want too much for their cars.

[Raptor251]

Originally Posted by tibra1

Ok so what’s the deal lately with these ridiculously priced cars for sale..I am fully aware of the negotiation tactic of setting the price of a car ultra high so that it equals out somewhere in the middle.

But it seems some of these sellers have genuinely convinced themselves they can get their asking even though it’s not in the realm of any reality.

I have said it before and I will say it again..when buying or selling cars you need to check your feelings at the door.

Sentimental value does not = fair market value

Comments?

I think my car is a fair price?? $62K for a fully loaded DCT coupe with 8k miles and all the mods!!

[SeanGee]

In the end you'll get what its worth give or take unless you have someone who just wants to pay thousands above market for some reason or the other. What are the odds? Slim. I would have to agree with the above statement that if the asking price is too high you scare potential buyers away. After all, everyone is looking for deal...well almost everyone. And if we're talking about e9x m3s, there are plenty to choice from so you can't sell one as high as a 1m, for example.

[JoM3z]

Most sellers would base their car value parallel to what they would find in KBB or sites such as Autotrader. While this site gives a rough estimate by no means it provides fair market value. If you know anyone that has access to http://www.galves.com it's similar to KBB, but created specifically for car dealers. The site prices car as face value, excluding profit.

[Purple88Gold]

I blame the people that buy these overpriced cars.

[thesyndicate]

There aren't a ton of used M3's on the market, I'm selling mine for less than KBB and still getting tons of lowball offers.

[Teeopi]

Balls or ballers, that is a question.

[magnetic1]

If no one is buying your car, it means your price is too high

[SAINT VAN ROCK]

Originally Posted by jc05e46m3

+2

[SL2011]

x

[PhillyNate]

Originally Posted by THE TECH

I doubt the SAME car is selling for such a different amount. Just cause you want the cheapest 08 you can find, doesn't mean people on here want too much for their cars.

+1000. This thread was fun, at first. There are some posters on here who have overvalued their cars. Now, I'm sensing some snarky comments as if this car is a Camry or an Accord. This car may not be collectible or rare but has been critically acclaimed since the beginning. It's STILL winning comparison tests. IT'S A 5 YEAR OLD DESIGN. Name one other car thats done that and does everything else this car does well. The engine alone in these cars is $20k+, and worth every penny. Not to mention reliable as shit. I haven't even mentioned the extensive use of aluminum components in an M3's wonderful suspension and hood. Bottom line is these cars are just holding their APPROPRIATE value because people have realized what they are. As well they should.

[tibra1]

Originally Posted by PhillyNate

+1000. This thread was fun, at first. There are some posters on here who have overvalued their cars. Now, I'm sensing some snarky comments as if this car is a Camry or an Accord. This car may not be collectible or rare but has been critically acclaimed since the beginning. It's STILL winning comparison tests. IT'S A 5 YEAR OLD DESIGN. Name one other car thats done that and does everything else this car does well. The engine alone in these cars is $20k+, and worth every penny. Not to mention reliable as shit. I haven't even mentioned the extensive use of aluminum components in an M3's wonderful suspension and hood. Bottom line is these cars are just holding their APPROPRIATE value because people have realized what they are. As well they should.

This may be all true..but what does it have to do with car sellers over-pricing themselves right out of the market and essentially wasting people's time

Appropriate value is just that..not what someone feels their car is worth based on sentimentality and not any realistic market data or trends.

[1MOREMOD]

i just took a beating on my old high school car. a mustang i had put about 20k into and took 3300 for it just to move it even though it had a lot of sentimental value as it was what i started my working on cars in. built an engine, rear end, full body and paint work. going on to be a bracket racer now with the new guy. mods usualy decrease value.

[PhillyNate]

Originally Posted by tibra1

This may be all true..but what does it have to do with car sellers over-pricing themselves right out of the market and essentially wasting people's time

Appropriate value is just that..not what someone feels their car is worth based on sentimentality and not any realistic market data or trends.

Agreed, but there've been some comments within this thread that suggest even fair market value is not appropriate. These cars are not Yugos. All I'm saying is it's not unreasonable to be asking $39k for a well kept, low mileage CPO 2008 for example. Some folks on here think that should be a $25k car. Fat chance. Go buy a new Accord.

[bavboym3]

I agree with the OP, but funny thing is they are actually selling? If I had an M3 id sell it right now lol.