Brian
-
In
that vein, what is your experience with the three general
public price guides? Weve been shopping for
pedestrian-grade cars to replace my wifes Volvo, and I
find that there are huge discrepancies between Edmunds
(usually lowest), NADA and KBB, even if you do your best
to describe them identically to the three sites.
Weve
found dealers wont come close to selling for what Edmunds
thinks is fair dealer price. NADA and KBB are usually, but
not always, closer to each other but way higher than
Edmunds.
I
dont know what algorithms / true sales / auction results
influence each, but I would expect them to be more in
consensus than they generally are.
--
charles
Price guides are just that -
guides. They don't set the market, they report the market.
Some are better than others and are more accurate
depending on the subject. So looking up a Toyota Camry
value on Kelley Blue Book will lend better (more accurate)
results than looking at KBB for a Ferrari Enzo value.
While looking at Sport Car Market or FML will give you a
much better idea on the Enzo market. But either way if KBB
say an Enzo is worth $5M they won't write you a check for
that amount, and if they report an Enzo is worth $100,000
it doesn't mean you can find one at that price. And KBB
can't deliver one to you for that price.
Referencing FML, if an Enzo
is advertised for $2M there with no takers and then is
shipped to Barret-Jackson where it sells for $800,000 then
it doesn't mean FML is trash, nor does it mean that anyone
referencing that classified ad source is uneducated or out
of touch with the market or "just a Porsche expert." It
simply means the owner running the ad had unrealistic
expectations of the value. And the sale at BJ, plus some
research into other Enzo sales, will show if the $800K is
the current market value or if it was an anomaly based on
celeb ownership, exceptional condition, low mileage or
rarity in colors or options.
Price guides aren't bad -
they just have to be taken with a grain of salt and other
research to form an intelligent, informed conclusion.
--
Brian E. Buxton
Auto Acquisitions and Consulting | 5411 S.R. 261, Unit 903 | Newburgh, IN 47629
(812) 760-5513 mobile | (812) 476-2284 fax
www.BuxtonMotorsports.com
www.BuxtonMotorsports.net
Brian Buxton Enterprises, Inc.
Nationwide Enclosed Auto Transportation
Select Chauffeured Transportation, LLC
www.SelectEVV.com
Founder & Past President
So. IN Region Porsche Club of America
On 12/8/18 3:32 PM, Alexander Ishii
wrote:
As no one else has risen to their defense... :)
I will say that while I give no weight to actual prices listed in FML, their
Asking Price Index (and note that they are completely upfront that these are
asking prices) is a pretty fair indicator on the trends of prices.
I can't say anything about post-70s numbers (which is funny, since my only
F-car is the 308), but I always track FML when I start to muse about getting
an old V12, and the Asking Price Index seems to come pretty close to showing
when the true "trough" points happen. And yes, I am talking about private
sales as well as auctions and dealers; when I have been "shopping", I have
truly been shopping, and thus making offers, and seeing what offers I lost
cars to...
Cathy (the lady who runs FML) is also a very gracious, and is happy to help
you research the history of individual cars.
In case the above does not make it clear, I think FML is a useful bunch of
folks, and I like them.
Any mind you, while "things are worth what people are willing to pay," in a
non-transparent market like vintage Ferrari's "what people are willing to
pay" can vary greatly depending on timing, circumstance, and available
information.
Cheers,
Alex
Nero Mettalic QV
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