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Redbook price guides

Discussion in 'Misc' started by Rhi, Jun 17, 2013.

  1. Rhi
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    Rhi Member

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    Just curious really- How much do you use Redbook as a price guide to know if you are asking a realistic price, or on the flip side, if the price you're looking at buying for is fair?
    Do you think the private price guide is generally realistic?
     
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  2. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    I think the private price guide is usually a combination of unicorn poo and fairie dust, tbh. It's an ok guide but not brilliant. I usually just look around at what people are asking on bikesales etc for similar model bikes (usually +/- 1 year) and go from there.

    Sometimes if I'm feeling super bored I'll spend an hour to actually collate the info and graph it up to have a better idea. Here's such an example: 2003-2005 Yamaha R6s, in NSW, for sale in 2008:
    [​IMG]

    [​IMG]

    Although it was 5 years ago, I remember it took me less than the time it took to drink a single cup of coffee one Sunday afternoon to compile that info.

    From that I'm pretty sure we were able to suss out what we should ask (good condition, lowish kays) and sold the bike within 2 weeks, and for about $300 less than the asking price.

    It's a bit of a buyers market at the moment though, hard to get good prices for things. Lots of bikes lose heaps of value too: Jap sportsbikes in particular depreciate so fast you'd think their freefall through the prices reflected the Hindenburg disaster.
     
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  3. Richo
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    Richo QBN's Next Top Model Veteran Member

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    I would say one of the biggest mistakes people make is looking at Car/Bike sales and saying that is what they are selling for. Not correct, that is what people are asking for them.

    Example - 2002 Pajero blah blah Carsales advertised price range 17-23,000. We list it at $18K, no response. $16.5k, no response. Ended up selling it at $15.5K after 3 months despite every other one being advertised dearer.

    Fact - You will not generally sell at the same price here in ACT region as there is a smaller market and, I would perceive, a higher turn over of corporate/Govt vehicles so the vehicles are actually worth less
     
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  4. Rhi
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    yeah, I'm talking in relation to my car I guess, going by what other cars of the same type/year are for sale for, I have a really good price on mine and it's much lower then the redbook 'guide' however Canberra is a very small market as you said [MENTION=6223]Riicho[/MENTION] and the 7 seater people mover market is smaller still so I'm getting what I consider to be ridiculous offers for my car considering what redbook and carsales say it *should* sell for.
     
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  5. Richo
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    Richo QBN's Next Top Model Veteran Member

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    There is no question that we all hate people who lowball our prices. Having said that, at some point you will have to decide what is worth to hang on to it?

    The car market is unfortunately no different to the house market in that it is what the "market" will pay, not necessarily what something is perceived to be worth :(
     
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  6. John.R
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    Vehicles are only WORTH what someone will pay.

    Some vehicles will make buyers pay from their heart, and not there head, and so you can get higher values for classics or certain vintages etc, or if people have memories attached to a particular car.

    But generally speaking, if nobody is buying your vehicle, it's because your either not getting enough exposure (just posting on forums or work boards etc), but more generally, it's overpriced for the market.

    This is the same reason I won't sell my Gixxer with 40,000kms on it. The realistic price I'd get would be pretty low, so I may as well hang on to it and enjoy it. If I NEEDED the money, or had to get rid of it, I'd have to accept the best price someone would pay me.
     
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  7. Someguy
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    Someguy Super Elite Awesome Member Supporter

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    Exactly. I don't bother looking at Redbook prices when I buy or sell. I spend a few weeks or more looking at the asking/sale price of comparable bikes and use that as a guide. Same thing when I'm looking to purchase. The ones that move quickly were priced well, that ones that are still there months after being listed are overpriced (generally speaking, of course).

    I know the OP was actually about cars, but I think a lot of the bikes on bikesales in the ACT are asking too much. The kind that I'm looking at currently are simply overpriced, which is why most of them have been on there for 3, sometimes 4 months. The same thing tends to happen with cars.
     
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  8. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    Sometimes you can have good results by taking an ad down for a few days then putting it back up with different photos. People think it's a different car and pre-conceived notions (plus how long the ad has been on) are reset which helps. Also spamming it onto all the usual sites (so gumtree, allclassifieds, carsales) is worth it. If you have it on one mainly (e.g. gumtree) then you get the worst of all buyers I think: e.g. gumtree seems to be filled with dreamers who want to pay nothing for something decent (which, if I want to do, is why I go on gumtree tbh).

    Also, the amount of kays can have a huge bearing on how willing people are to take a punt on the car. If it has high kays, even at a low price, you might find it much harder to shift. Not much can be done about that unfortunately, it's just people's perceptions of how many kays are too many. With cars the magic mark seems to be 200-220,000 km before they start to really freak out and want redonkulously low prices.
     
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  9. trezza
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    100% correct. I say this all the time.
    The other thing is this. When you go onto bike/carsales, all the vehicles you see are STILL for sale. As in, they haven't sold. So continuing on from the previous discussion, they're ALL too expensive...
    The good bargains don't last a day on there, or in some cases don't even MAKE IT to car/bike sales.

    I've owned almost 20 cars/bikes in the last 6 years, and I've never bought one that wasn't a cracking good deal. I also rarely buy from Canberra, because there is very little to choose from, and what is available is usually overpriced.

    Selling on the other hand... Something I don't particularly enjoy. However, I mustn't dislike it as much as [MENTION=243]Gosling1[/MENTION], who I believe was the person that said "Don't buy and sell, just buy..." Haha now there's an idea :ridgy
     
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  10. Rhi
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    ha ha ha yeah, all good points.. fact is I'm trying to sell to a tiny little soccor Mum market, with a car that does have a few kms on it and has much cheaper competition. (cheap 7 or 8 seater? get a tarago or old pajero) never mind the fact that mine is a good car, in a sales market its not very popular.
     
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  11. gazman
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    It's an Toyota Avensis, not bagging the car but they are a bit oddball. Also a lot of people are busted arse and hanging onto their money. The only people who have had a pay rise the last 2 years are the public service and politicians.
     
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  12. Tobin
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    yes - did a bit of shopping on the weekend - prices are all negotiable and at a very low end of the market - things are definitely a buyers market ( i know as I have the same issue moving my tarago hahaha)
     
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  13. Gosling1
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    Gosling1 Forum Whore of Death Veteran Member Supporter

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    I paid almost nothing for something very decent off Gumtree :lol:

    Rhi - selling a vehicle in winter in Canberra hmmmm its not the best time of the year really. Good luck though :)


    it works very well and I can't recommend this approach highly enough :up
     
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  14. Rhi
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    yeah the Avensis is direct competition for the Honda Odessysy (ok how the hell do you spell that??) which was wayyyy more popular when they were new.

    Thanks Gos, I don't think I'll end up selling, I don't 'need' to sell .. I have $7000 on it and have had heaps of offers for $5500 and thats it.
     
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  15. Valentia
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    Banks dont even use Redbook as a guide. They use Glass. Well at least Community CPS does. Which holds different values all together.

    But selling used cars will always favour the buyer. Unless it is a stupidly rare car. But for common run of the mill things then the buy has many choices..
     
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  16. supamodel
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    supamodel Secret Aaaaaagent Man Staff Member Moderator Supporter

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    Had forgotten about Glass'. I think it's about $20 for one car value from them privately, but can't remember.

    $7k asking versus $5500 offers. Have you negotiated with any of the buyers up from there? I'd be thinking that the price that you might be able to settle on is going to be somewhere in the middle, ~$6k-$6250. If that's too cheap then keep it, though a few more years and km and it'll be down in the $2k max sort of territory at a guess.
     
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  17. Richo
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    Richo QBN's Next Top Model Veteran Member

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    Am I right in saying you don't have this on Carsales [MENTION=40733]Rhi[/MENTION]?

    Just had a look and couldn't see it?
     
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  18. John.R
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    I'd take $5500 and run with it.

    As Supa said, the more K's you put on it, the more worthless it becomes for someone else to purchase, but not to keep it.

    So it's either get rid of it while it's worth something, or hold on to it till it dies (or gut the extra seats and make it a bike carrier)
     
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  19. Barconian
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    Throw the red book in the bin.

    Ask for more than you really want in price... That gives you room to negotiate! If people think they knocked you down a grand or more, they think they are getting a bargain.

    Presentation is really important. make it shine as best you possibly can... Inside and out. Including the engine bay!

    Talk it up... Tell people all it's good points and avoid talking about the bad points.

    The market is best after tax time... around July/August. Jan and June are the worst times to sell.

    Make sure it is running well and doesn't have any bangs and noises that people will notice. It only takes a rattly exhaust to turn a buyer off!

    Sell it with a roadworthy report. A RWC works wonders in Canberra!

    Walk around car yards and look at what the price is on the section 20 (the peace of paper hanging in the window with the cars price and information) and see what the prices are! It can give you a top value. Then ask for a valuation from a small dealer and that will give you the lowest price!

    I use to buy and sell around 40 cars a month as a dealer and made a lot of money doing so.

    I hope this helps you a little :)
     
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  20. DonT
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    I think with a face like his Carl must have been good to sell cars:)
     
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