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09-23-2014, 12:44 AM | #27 |
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I'm not looking to ruffle any feathers so I hope you don't take it personally, but I think there's a couple reasons you haven't sold your car in over two months.
1) The price is too high. CarMax will probably offer you around $47k assuming that you have the premium stereo and around 23,000 miles (I simply added 2,000 miles in the two months since you originally posted). If you sell to a private party, anything above that number is gravy for you. You posted that you would not entertain any offers if they don't begin with a "5," that is a bit optimistic. Certainly, the endowment effect is in play here, but if loganr25 offered you $49k, that isn't bad. You could have a lot of fun in Vegas with $2000. 2) The market for people looking to purchase a used car in the $50k ballpark is very small. Hell, the market for people looking to purchase a NEW car for $50k is small. There's a reason why BMW/Audi/MB/Caddy are starting to release cars at $30k. And now, given the release of the F80/F82, it is attracting new M buyers. Additionally, the previous M owners are trading in their E9xs in, "flooding" the market, thus driving down prices. Two years ago you could get good value selling a used E9x, but not now. Sorry. I'm sure you can flame me and other people may flame me as well, but realistic expectations are never bad. Mark and Jason, I hope this doesn't qualify as thread crapping. I am not selling another e92 and I'm honestly here to help. I do not know either OP or loganr25. If mods do delete, I totally understand. No hard feelings OP. Hopefully you take everything I said with a grain of salt and you get your car sold. Think of it is this way, you sell to a board member for $49k and you pocket the extra $2k. Otherwise, you sell to a dealer for $47k, they turn it around and sell to same board member for $53k. Who benefits here? Beautiful car by the way. It's obvious that you took good care of it. |
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09-23-2014, 09:42 AM | #28 | |
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I think it is great advice. I just closed on a deal. Lower miles, couple after market body parts. For 45k. The market has changed from a seller market to a buyers market. |
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09-24-2014, 01:46 PM | #29 | |
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I expected to get a little more, but it's obvious the market has shifted slightly. More open to offers now. |
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