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Value of the dolled
I have purchased a new XC90 via Drive the Deal at an excellent discount. The car is due to arrive June / July. I currently have a 2005/55 BMW 740iL with many options, full history and 49k miles. It is a beautiful car, sold to me by BMW Park Lane in December 2008 and had a list price of nearly £70k when new. I'm struggling to get a consistent value / asking price for the car. Park Lane has offered me £11k for it. A Specialist Prestige buyer bid me £12k for it (both of whom I knew would have moved some more if I pushed them). What I can't reconcile is the book value / private ads are showing this car to be north of £15k. I'm now confused as I want the car to sell but I don't want a dealer to 'steal it'. I see with a warranty at a price of £12k I'm still leaving about £3k in it for a trader (which I know is a huge margin for a used car of this price). I'm aware it is an unusual car and will sell to the right buyer but I'm also aware that it could stick for a while before finding him. I am thinking of putting it through auction to get a better feel for it as I'm not that keen on a private sale with buyers coming to my house. Any advice would be appreciated.
Asked on 26 June 2010 by DB, via email
Answered by
Honest John
Your best bet is probably a Top Car auction at
www.british-car-auctions.co.uk (not www.sure-sell.info for a
car of this class). It is impossible to accurately price a car like this. It all depends on if there is a buyer. If not it's a white elephant to a dealer. It theoretically trade booked at £17,125 in April, but on 19th April I saw a 39k mile 2004/54 745iL that booked at £14,250 sell at auction for £12,600.
www.british-car-auctions.co.uk (not www.sure-sell.info for a
car of this class). It is impossible to accurately price a car like this. It all depends on if there is a buyer. If not it's a white elephant to a dealer. It theoretically trade booked at £17,125 in April, but on 19th April I saw a 39k mile 2004/54 745iL that booked at £14,250 sell at auction for £12,600.
Our honest used car pricing is a little bit different to all the others. You can get to our values through make or model - you don’t have to follow a prescribed route. Plus, it’s live, which means we can react to changes in the market quicker than any printed price guide.
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