Best way to sell a low mileage high end car?

[IVIuzzy]

I've never had luck selling any of my older toys. Then after the fact I learn something I shoulda done.

I don't have eBay. Maybe I should get it to sell this car? What are their percentages like? Don't they dock a lot.


I've tried selling it to dealers and they say its worth 37-44k.
My insurance values it at 78,000. I wish I could just.....nvmd.

Anyway it is a 2008 BMW 650i fully loaded. Only 8,000 miles.
I paid almost 92,000 new and it just sits. Maybe someone could enjoy it. I'm in no hurry to sell. But dealers appraise it around 37-44 and offer 29.

Any ideas. Craigslist is a
Dead end. U get people who have no
Cash and can only afford what a bank will pay. I've had some luck parking it on the beach on weekends but mostly joyriders.
One serious couple just couldn't get financed.

[hill]

BMW club or club magazine? I bought my 05 55 with 6k on it from a MBCA members good eye.

[TX76513]

you didn't say what the car was but...Barrett Jackson Auction for high end toys. They have one sale a year in Tampa

[IVIuzzy]

Originally Posted by TX76513

you didn't say what the car was but...Barrett Jackson Auction for high end toys. They have one sale a year in Tampa

In my first post it says an 08 Bmw 650i with 8k miles

This is the only club I belong to. I always feel bad joining a forum/club to sell a car. I thought about trying.

[Jorn]

I just sold a Range Rover Sport to Carmax. I'm not saying you should, but a fast sale was needed and they gave us the lowest amount we had set.

Range Rover's were lined up at the lot for appraisal, apparently what happens is that they are shipped to Russia and some other countries where they get double or tripple the price CarMax buys it for.

It could be interesting to find a buyer abroud if you have the time.

[TylerH860]

People will use blue book or NADA as guides. Banks loan off those guides.

Someone who can stroke a check for cash would most likely be a savvy buyer who would want a good deal, or new, or something else.

Looked up the car. With all options and those miles loan value is $36k, retail 41k. Absolutely no comparable sales at auction, closest is one with 40,000 miles that brought 27k.

Is there a vehicle you would want that you would drive more? Dealers are much more likely to step up on a trade if it means a sale. If you never drive it, maybe trade it off on a blue chip classic car as an investment. Certainly more fun to look at in the garage. Something like a nice Pagoda, Ferrari 308, Porsche 930?

Donation is another option depending on your tax liability and laws in your state regarding valuation of donations.

[TylerH860]

Does your state allow dealers to take vehicles on consignment? Perhaps a high end exotic and used store would be willing to take it on for a commission.

[IVIuzzy]

Originally Posted by TylerH860

People will use blue book or NADA as guides. Banks loan off those guides.

Someone who can stroke a check for cash would most likely be a savvy buyer who would want a good deal, or new, or something else.

Looked up the car. With all options and those miles loan value is $36k, retail 41k. Absolutely no comparable sales at auction, closest is one with 40,000 miles that brought 27k.

Is there a vehicle you would want that you would drive more? Dealers are much more likely to step up on a trade if it means a sale. If you never drive it, maybe trade it off on a blue chip classic car as an investment. Certainly more fun to look at in the garage. Something like a nice Pagoda, Ferrari 308, Porsche 930?

Donation is another option depending on your tax liability and laws in your state regarding valuation of donations.

I don't really drive anything. I have a couple of homes this car is at my vacation home in florida. We're retired now. My wife is getting ill. It is her vehicle. I don't need to sell it for the money. I just like to get as much as I can.

I have a Maserati, its funny u mentioned getting a different car. I have an 06 gran sport that doesn't even have 1,000 miles on it. I drove my trucks. I bought these cars for my kids, they said they were cool.
And the probably used them the most.

I called goodwill. They give u a donation receipt for what the car sells for. Ill look into consigning, anyone know a dealer kn sarasota /Tampa area?

[97 SL320]

Originally Posted by IVIuzzy

I've tried selling it to dealers and they say its worth 37-44k.
My insurance values it at 78,000.

Be careful with the insurance value as it sometimes means little, there is stated value , agreed value and some other terms. Some of these are a max that the ins would ever pay but , after a loss, the car gets valued at book value / condition pre loss / deduct for worn tires / paint / and so on. This kind of thing comes up with "classic" cars when the the owner finds out too late that they get near zero after a loss even though the car has a high ins value.

Originally Posted by IVIuzzy

Anyway it is a 2008 BMW 650i fully loaded. Only 8,000 miles.
I paid almost 92,000 new and it just sits. Maybe someone could enjoy it. I'm in no hurry to sell. But dealers appraise it around 37-44 and offer 29.

A dealer has lots of exposure with this car and will of course want to make money. The market for this car is narrow.

Originally Posted by IVIuzzy

Any ideas. Craigslist is a
Dead end. U get people who have no
Cash and can only afford what a bank will pay. I've had some luck parking it on the beach on weekends but mostly joyriders.
One serious couple just couldn't get financed.

And dealers have ability to finance.

As for joining a BMW club to sell, contact the local chapter and see if you can place a paid ad. Your car is a special case in that it is a new older car with a narrow market. There is a greater chance that someone in a BMW club is actively looking for your car rather than a random person looking through ads. You need exposure in the proper places. Location , location , location. . ..

Be sure to state you have documentation of miles / one owner status.

[barry12345]

Think about a price you can iive with and post the car on a bmw forum. No sellers commission and many bmw purchasers watch that site probably.

That year with eight K total milage will probably attract some action there.

[Skid Row Joe]

I like the consignment route, or the BMW Club of America magazine ad route for the low-miles BMW.

Just noticing your sig area - is the 02 F250 Quad cab a 4X4, and is it for sale? What's it's condition? Pics of it?

[jake12tech]

eBay takes 9% of selling price
Paypal takes 3% for themselves

Sell it the BMW Club of America route.

[TylerH860]

Originally Posted by IVIuzzy

I called goodwill. They give u a donation receipt for what the car sells for. Ill look into consigning, anyone know a dealer kn sarasota /Tampa area?

Genuine Motorcars Inc. in st. Petersburg fl is your local pre owned dealer for used Porsche, Mercedes, Lexus, Jaguar, BMW, Audi and luxury autos for sale.

These guys seem to have a good operation going...

Might be worth looking into.

http://www.********fl.com/used-cars-naples/

[Jim B.]

....A Classified ad in the "Robb Report"

Robb Report - The Global Luxury Source

Or,

Maybe a candidate for the Barrett-Jackson auction (or similar)?

[barry12345]

I think it is worth the effort to attempt to sell it overseas. Cars cost much more in Europe I believe for the same new cars. For example a volkswagon tdi that may be had here for say 30k. May be at least 10k higher there when new. So I suspect the used car market value may also be higher.

I think it may be doable and is about the only way you may get a price you are happy with. As Tyler who is well versed in these things now states. In the north American market the value books are more likely to prevail with only a slight premium for the low milage at best. The german economy is so much more robust than ours to start with. Plus in general people there have far more money.

I might even try talking to a german bmw dealer through the net to get at least some estimate of what it could sell for there. Automatic translation is available I think you are aware and many germans will speak English anyways.

Or try initially to find a similar car on the german ebay to perhaps get some ideal. I wonder if the American bmw distributor is back shipping some used cars to Europe as well because the used car market is sounder there. So many cars in north America are on paper transactions it is perhaps disruptive to some extent as well. We may have won the wars in some ways but lost them in so many financial ways in north America at the same time. I suspect even the minumin wage in Germany is perhaps at least three times the average American one.