Is Kelly blue book value meaningless???

[Biglex]

When it comes to the diesel MB's, is the blue book value really anything to go by? They always seem to go for much more than what any bluebook values show. I see some cars I am interested in, then I see them priced 3 and 4 grand more than the book value, and i have to wonder which is more accurate. I know demand plays a part, but I thought kellys considered this?

[RML]

I did not consult the Kelly Blue Book when I bought my car. I watched the auctions on EBay, and kept a log on what cars were selling for, the condition, mileage, etc. I don't think the KBB looks at EBay or Craig's list but I could be wrong. I think they are more accurate for late model cars that are sold throught dealers and reported by dealers.

Richard

[Richard Eldridge]

I think that KBB and Edmunds are based on the sale prices reported by dealers to state tag agencies. The state agencies collect sales tax, and the dealers rarely lie about this, because it is not their money and if they reported a lower price to cut the buyer a deal, they could be busted. A lot of dealer sales are financed, and the figures have to be accurate for the loan papers and such.

On the other hand, if two individuals make a deal, there is little likelihood that the buyer is trying to pull a sting operation on the seller, and the price reported is likely to be on the low side.

The older the car and the more likely it is a cash sale, the less accurate the KBB and Edmund prices are likely to be, or at least so it seems to me.

I'd say for an older Benz, E-Bay is perhaps a better index than KBB or Edmunds.

[Biglex]

I think I agree with you 100%. Not that I would do it or anything, but I have HEARD of people putitng a lower sale price on the title when sold 3rd party. ebay tends to be fairly consistant too on sale prices, so it seems to be more of an accurate predictor.

[Bama1]

You are characterizing the impact to pricing from irrational exuberance of relatively inexperienced and/or less sophisticated players in a narrow market. They are especially influenced with all the hype and sensationalized hoopla about waste oil conversion ideology and the empty dream of "free" fuel.

I practice healthy skepticism of the ebay values since there is really no way of knowing whether or not the bidders are shills driving up the price and if the exchange is ever actually, or legitimately consumated. I observe about 15-18 percent of the listings are no-sale and reposted, and that further skews the statistical average.

So in answer to your question, I agree that Ebay "bids" are considerably out of line with the KBB values and the whole of the market appraisals... especially for pre-1990 and certain desireable models.

[Biglex]

I dunno, I didnt think of that, and you are right as well, LOTS of auctions are listed a week or 2 after a high sell. Claims of "dead beat bidders" all over the auction. I really wonder how many people jack the prices of their auctions. We all know it happens, just how often.

[alamostation]

Edmunds and KBB make no sense for old cars. Just for grins, go look at what a mint condition 90,000 mile 1981 Datsun 280Z turbo with leather seats lists for.

Would you sell yours for that amount?

Would you pay that amount for a good parts car?

[ray m]

Nada.com Is Fairly Accurate. Try That. Some Insurance Company Use It When Paying For A Totaled Car.

I'd only pay what its worth to me. If they don't want to sell it for that much then there are plenty of others to choose from.

[diametricalbenz]

Purported price ranges skew things and condition objectiveness comes into play. Cars that have a book price range of $4000 to $12000 will have a price tag of $10,000. Huh?

[sd300td]

Originally Posted by ray m

Nada.com Is Fairly Accurate. Try That. Some Insurance Company Use It When Paying For A Totaled Car.

Agreed! I think a 300td is listed any where from a few thousand to more than $10,000, depending on shape/condition, etc.

[zeke]

I just bought my 240D and negotiated the price based on range between the asking price for a similar (but less well-maintained) 240D on craigslist in Dallas and the NADA retail value. KBB doesn't even go back far enough for my 1980.

No problems and both the PO and I were happy with the final price.

On the other hand, I have an older Nissan P/U I am trying to sell (very desirable in my city - wanna buy it? ). A kid contacted me about it and was looking for me to sell it at blue book. He tells me that even with all the options plugged in, it was way less than my rock bottom price, since average mileage on KBB for my 1991 vehicle is 98000 miles! You can imagine what KBB told him when he put in 198000 miles - depreciated the car by half I am sure. I told him that if he is looking for a 1991 pickup truck (usually not the car Aunt Bessie only drives on her winter trips to Florida) with less than 6k miles per year, best of luck!

My point is that KBB WAY undervalues older cars, and doesn't consider regional variations in demand. The mileage cutoff is just plain annoying.

edmunds isn't much better, either.

[patbob]

Originally Posted by RML

I did not consult the Kelly Blue Book when I bought my car. I watched the auctions on EBay, and kept a log on what cars were selling for, the condition, mileage, etc. I don't think the KBB looks at EBay or Craig's list but I could be wrong. I think they are more accurate for late model cars that are sold throught dealers and reported by dealers.

Richard

I got mine off craigslist and did check KBB. I paid a bit of a premium for mine, but not too much, mainly to end my search sooner.

The 1985 and later models seem to go for more than my '83, probably because a lot of them in this area are being bought to run bioD or {WS}VO. 1985 is probably the magic year because that's the model that was used in some well-referenced (dare I say, groundbreaking?) alternative fuels article.

If I hadn't paid a slight premium wen I did, I'd probably still be looking or have settled for something in worse condition.

Originally Posted by ForcedInduction

I'd only pay what its worth to me. If they don't want to sell it for that much then there are plenty of others to choose from.

plenty?