How True are Redbook Values

[Mongoose]

I think redbook is a bit off, i mean, does anybody know how easy it is to sell a manual V8 boganmobile (VB-VP) with over 300,000 kays? my dad managed to sell a VK with 310,000kms for $5,500 despite redbook thinking its worth $900-$2,100. Redbook is rubbish for pre 1990 things, but very good at new stuff (2002-present)

[kremmen]

Originally Posted by Mongoose

Redbook is rubbish for pre 1990 things, but very good at new stuff (2002-present)

Exactly. New stuff is pretty spot on and I would never pay more than what redbook says for new vehicles or else when u go to sell it people will refer to it and beat you down anyway.

Unique cars valuations are even worse as they specialise in unique cars.

[jason_85]

From starting this post and reading the whole way though it seems to be concensus that Redbook is correct and does work well for cars in the age bracket approximately less than 10yrs old....

My question is i constantly see cars advertised on these forums that are a fair bit out of this price bracket (only referring to these under 10yr old cars with minor mods) and continually gets bumped and then when a offer is made in the redbook range buyers then lead to criticising the prospective buyer for making a silly offer

My afternoon rant hahaha ..... does anyone else agree?

[Chamelion]

AU III Forte Wagon 4dr Auto 4sp 4.0i Prices based on km 80,000 - 130,000
Trade in price guide* $6,300 - $7,600
National average price - private sale* $8,600 - $10,100
Price when new (RRP) $35,800

I'm about to buy one of these for $8500 from a dealer with 152,000km for $8500 on road w/6 months rego. Close enough.. They were asking $9500 on road, which still would have been a reasonable price.

[davidclough]

I think (for what its worth) the market fluctuates and I would never think the RED book is gospel, as a matter of fact I think when it comes time to sell we should take our cars to the red book office and ask for our money, I havent tried but I am fairly sure they would not pay me what they are saying!!

[blueoval]

I know that most car dealerships dont used redbook as their guide. Its mainly used for the used car market. From what I know of, dealers use this little handbook they refer to. Forgot what its called but my mate who owns a dealership uses it and it has a white cover with green writing on it. never seen it anywhere to buy though so I assume its for dealers only. Someone correct me?

[vztrt]

When I went looking for an XR6T (didn't get one) Ford was gonna give me what redbook said. But I think it might have been to try and get the deal.

[lamborghinifan]

holden kingswood 1979 hz sl 4dr 3.3 auto- $900-$2100
sold mine for 4k a few weeks back after having advertised for less than 24 hours had three definite buyer. red book is rubbish for anything remotely collectible.
(p.s own a ford now, in case you were wondering)

[BENT_8]

Originally Posted by blueoval

I know that most car dealerships dont used redbook as their guide. Its mainly used for the used car market. From what I know of, dealers use this little handbook they refer to. Forgot what its called but my mate who owns a dealership uses it and it has a white cover with green writing on it. never seen it anywhere to buy though so I assume its for dealers only. Someone correct me?

Most dealers i have worked for or have dealt with already have a wholesale buyer and will either know what the trade in is worth or contact the wholesaler to see what they will pay.
If it is new enough or their type of stock ie. Toyota dealers will keep late model Toyota gear, then as i have said before they will know what they would get for it and work back from there.
The dealers i have worked for always worked around the $5k margin between what they pay and what they will advertise for.

[blueoval]

Originally Posted by BENT_8

Most dealers i have worked for or have dealt with already have a wholesale buyer and will either know what the trade in is worth or contact the wholesaler to see what they will pay.
If it is new enough or their type of stock ie. Toyota dealers will keep late model Toyota gear, then as i have said before they will know what they would get for it and work back from there.
The dealers i have worked for always worked around the $5k margin between what they pay and what they will advertise for.

That sounds about right. I think most have a sum in the back of their head and if they have been around long enough they know what to expect to pay.