'92 300 SL for sale

[islander]

37000 miles, always covered and garage kept. Two tops, CD and new tires. Never been hit, no scratches dings etc. Car is immaculate. Located in NC 910-686-1388

Islander, How about some photos and a price.

[islander]

Just decided today to put the car on the market so no photos now but I will take some tomorrow and see that you get copied.

The price is $31,000

[suginami]

I might suggest that your asking price is a little on the high side.

I ran the Kelley Blue Book value for private party retail and used my zip code in Southern California, where Mercedes Benz prices are probably higher than in North Carolina.

It came up with $22,215, adjusted for mileage and "excellent" condition.

http://www.kbb.com/kb/ki.dll/kw.kc.ur?kbb;048997;CA037&;p&722;Mercedes-Benz;1992%20300SL&11;MB;A3&

If you can get more than that, then more power to you, but a person getting a loan to buy your car will not be able to pay more than Kelley Blue Book value for the loan.

[islander]

Are you interested in buying a car?

[suginami]

Are you interested in a charitable donation?

[bobterry99]

I ran the Kelley Blue Book like Suginami with both Atlanta and North Carolina zip codes for Islander's car and came up with this low figure. But I personally am suspicious of the KBB.

I have a '90 300SL with 115K miles. The KBB says it is worth $11,500 in excellent condition (30345 zip code). Well, I am pretty sure I can get at least $15,000 in a heartbeat. And the marketplace suggests considerably higher values. Looking at eBay you don't see any of these cars trading hands for less than $15K. And at www.cars.com nearly all of the 300SLs fall in the $19K - $21K asking price range.

I'm going to post a new thread on this topic to solicit a broader range of opinions...

[suginami]

Kelley Blue Book might be low in this particular case, but I doubt it.

I have found that Kelley Blue Book Prices are always higher than what one can buy from a dealer or private party.

Plus, Kelley Blue Book prices are always misunderstood. Here is a good article that I copied from MSNBC news a while ago, and it provides an explanation on what they actually are:

Let's say you are looking to buy a house. You find one in a neighborhood you like, and you know how much the seller is offering to sell it for — its "listing price."

You'd like your broker's help figuring out what that house is "worth" — what a fair price would be for that particular house. So you ask your broker to research what similar houses in that neighborhood have sold for recently.

Suppose your broker came back and said, "Here is a list of comparable houses, and what their listing prices were." "Well," you respond, "That is mildly interesting, but what I need to know is what they sold for. Most likely none of those sellers got their asking price. Only if I know the actual transaction prices for the other houses will I have some idea of what a fair price is for the house I want."

This concept may seem self-evident. But if it is, why do consumers forget all about it when they go shopping for a used car? Here is what frequently happens.

You find a used car you are interested in on a dealer's lot, and you need to figure out how much you are willing to pay for it. The negotiation process is about to begin, and you want it to result in your buying the car for a fair price.

All too often, however, the dealer will direct your attention to a printed price guide — and often it will be the Kelley Blue Book. (Kelley publishes more than one price guide for used cars, but the one your dealer is likely to use is the one labeled "Kelley Blue Book Auto Market Report — Official Guide," the version of the book that Kelley sells to dealers.)

The salesperson will look up the car you are shopping for in the Kelley Blue Book, and will point to the "retail" price for that car. And then he will assert that since the price he is asking is quite a bit less, you should rest assured that he is asking a fair price. The implication is: why negotiate further?

But what is that "Kelley Blue Book" value he showed you? Is it the price at which cars like yours have recently sold to other buyers? Is it even an estimate of the actual transaction prices?

Surprising to most used car buyers, it is not! It is only an estimate by Kelley of the "listing" prices being asked by dealers — not what they are really getting for the car. As Kelley forthrightly says in the book, these are "suggested retail values" (although we bet that your dealer won't show that to you). The book clearly states:
SUGGESTED RETAIL VALUES represent Kelley Blue Book's estimated dealer asking price. The actual selling price may vary substantially. (Italics added.)
Yes, we agree with that: In our opinion, they do vary substantially. And in most cases, they are likely to be substantially lower than the asking price. After all, how many sellers of houses, or anything negotiable for that matter, get their asking price?

And as the version of the Kelley Blue Book that Kelley offers to consumers states:
Retail Values represent what a dealer may ask for the vehicle once it has been inspected, reconditioned and possibly warranted. This is the "Asking Price" and you may expect to pay less. (Italics added.)
Yes, based on our research, you often may expect to pay a lot less.

Our advice is simple: If a salesperson whips out a copy of the dealer edition of the Kelley Blue Book and points to one of its retail prices, say to him or her: "It is nice to know the price that Kelley thinks dealers are asking for this car, but can you show me what dealers are actually selling this car for?"

[Eli (NJ)]

The best technique i have found is to average the value from Edmunds.com, kbb.com, and NADA.com, then scan a few local papers to find a few of these cars and formulate the asking price. I'm usually able to come within a few hundred dollars of real value. Keep in mind that dealers tend to use the book that favors the particular transactin at the time. Case in point, I've been told my car is worth $17,500 book and $21,500 book by 2 different dealers, a big difference obviously. You have to do your homework in this area.
Hope I've helped a little. Eli.

[islander]

Thanks Eli.....that's what I did....similar cars around here are selling for about the same price and a prospective buyer has already been OK'd by his credit union for a loan but he has to sell his car first.

[islander]

Sorry ffor the delay...Iv'e been away....the car has been sold.

[Marc-1]

I posted something in concern under EVRYONE READ THIS please. If any of you get the chance please go and read it! Thanks

Originally posted by suginami
Kelley Blue Book might be low in this particular case, but I doubt it.

I have found that Kelley Blue Book Prices are always higher than what one can buy from a dealer or private party.

Plus, Kelley Blue Book prices are always misunderstood. Here is a good article that I copied from MSNBC news a while ago, and it provides an explanation on what they actually are:

Let's say you are looking to buy a house. You find one in a neighborhood you like, and you know how much the seller is offering to sell it for — its "listing price."

You'd like your broker's help figuring out what that house is "worth" — what a fair price would be for that particular house. So you ask your broker to research what similar houses in that neighborhood have sold for recently.

Suppose your broker came back and said, "Here is a list of comparable houses, and what their listing prices were." "Well," you respond, "That is mildly interesting, but what I need to know is what they sold for. Most likely none of those sellers got their asking price. Only if I know the actual transaction prices for the other houses will I have some idea of what a fair price is for the house I want."

This concept may seem self-evident. But if it is, why do consumers forget all about it when they go shopping for a used car? Here is what frequently happens.

You find a used car you are interested in on a dealer's lot, and you need to figure out how much you are willing to pay for it. The negotiation process is about to begin, and you want it to result in your buying the car for a fair price.

All too often, however, the dealer will direct your attention to a printed price guide — and often it will be the Kelley Blue Book. (Kelley publishes more than one price guide for used cars, but the one your dealer is likely to use is the one labeled "Kelley Blue Book Auto Market Report — Official Guide," the version of the book that Kelley sells to dealers.)

The salesperson will look up the car you are shopping for in the Kelley Blue Book, and will point to the "retail" price for that car. And then he will assert that since the price he is asking is quite a bit less, you should rest assured that he is asking a fair price. The implication is: why negotiate further?

But what is that "Kelley Blue Book" value he showed you? Is it the price at which cars like yours have recently sold to other buyers? Is it even an estimate of the actual transaction prices?

Surprising to most used car buyers, it is not! It is only an estimate by Kelley of the "listing" prices being asked by dealers — not what they are really getting for the car. As Kelley forthrightly says in the book, these are "suggested retail values" (although we bet that your dealer won't show that to you). The book clearly states:
SUGGESTED RETAIL VALUES represent Kelley Blue Book's estimated dealer asking price. The actual selling price may vary substantially. (Italics added.)
Yes, we agree with that: In our opinion, they do vary substantially. And in most cases, they are likely to be substantially lower than the asking price. After all, how many sellers of houses, or anything negotiable for that matter, get their asking price?

And as the version of the Kelley Blue Book that Kelley offers to consumers states:
Retail Values represent what a dealer may ask for the vehicle once it has been inspected, reconditioned and possibly warranted. This is the "Asking Price" and you may expect to pay less. (Italics added.)
Yes, based on our research, you often may expect to pay a lot less.

Our advice is simple: If a salesperson whips out a copy of the dealer edition of the Kelley Blue Book and points to one of its retail prices, say to him or her: "It is nice to know the price that Kelley thinks dealers are asking for this car, but can you show me what dealers are actually selling this car for?"

[Marc-1]

I am persuing the findings of these insane books you speak of. I intend to sue "kelley' and her purple book!!
The absolute idiots list a Honda Civic as having an MSRP in 1991 as $12,000 and now is worth $4,000
They suggest (and provide guide lines for banks and insurance coverage) that my 1991 300SL sold for (MSRP) $78,500 in 1991 and now holds a value of $17,000!!!
I have retained legal council and we will be filing for a hearing soon. This is UNacceptable.
If the Honda only lost $8,000 then the Mercedes can only lose $8,000
Simple point the Honda is used-up and worn-out at 100k miles. My Mercedes has been garaged and only has 50,000 original miles on it and is known to go for 300K.
It would almost seem that this is deceptive with intent to force the consumer to discard these cars and buy new ones. That act is soooo illegal. If this is not true than it's still a misleading deception and I would like to see them answer for it. Did anyone take out a mortgage on an $80K house in 1991? Thirty year loan? You are still paying for it and still owe 2/3. What did they do with $60K of my money. I won't allow this!

[islander]

Stronly suggest car sellers ignore the "expert advice" It's worth what you pay for it.

[suginami]

That's right. I've found the Kelley Blue Book is usually high, but in the case of Mercedes SL's, they could be under pricing them.

In the end, a car is worth exactly what a buyer is willing to pay to a willing seller.

Economics 101.