Unrealistic Expectations

[Garibaldi]

Hi Guys,

I have just made my weekly visit to Carsales.com.au and continue to be amazed by the prices some people think that they can get for their cars.

Whether they live in hope or the emotional attachment affects their judgement I don't know why you would leave an obviously overpriced car on there for months without it being sold. Maybe they are not serious about selling it.

I have worked in the motor industry for years and we are constantly checking market values, auction results and retail prices to make sure we price a car correctly.

If we used the same formula some of these people use we would have a yard full of very old and expensive cars. 

[jazig.k]

Pretty much the way I feel when looking at most car yard dealer prices...

[Garibaldi]

Yes, dealer prices are dearer than purchasing privately but the vehicle you purchase from a dealer will have a clear title and will not have been a repairable write off. We also have to allow for a warranty and the vehicle has to be roadworthy and well presented. It is not unusual for us to spend between $1,000 and $2,000 to bring a car up to sale condition. Then we have to price the car to allow for negotiation, no one ever pays full retail price and most people usually want closer to retail price for their trade in not wholesale price.

[Cool Jesus]

Yeah, I've noticed an increase in price with Alfettas on carsales I must say. Some, if not most, seemed well kept and possible at the top end of their price range. I keep seeing this golden Alfetta on there for $7k which hasn't moved for about 4yrs that I've been looking.

[Paul Gulliver]

I keep seeing this golden Alfetta on there for $7k which hasn't moved for about 4yrs that I've been looking.

I think it has been there for at least 6 years. I noticed it when I brought my Alfetta in 2008

[Italian Supermodel]

Garibaldi , interesting views.
IMO a seller is entitled to set whatever figure they wish on their vehicle.The market is generally quite astute on what that selling level will ultimately be.Sellers test the market & want to be convinced they're not underselling its value and a buyer doesn't want to be seen as a wood duck & pay too much.
Yes some sellers( private and dealers) aren't 'ready' to sell, but if you like the look of something make an offer and get the negotiation game started.
Most emotion sellers I reckon,be it cars or real estate, are flattered and sometimes releaved there's someone interested in buying their 'baby,castle,....'
Those out there who look at an asking figure & are scared off by that alone and don't even bother going to check the car out probably should wait patiently for a 'bargain' to be presented on a platter.

[MD]

Perfect summation I.S.

[Garibaldi]

Testing the market is one thing but why would you leave a car on there for months when it is blatantly obvious that nobody is going to pay what you are asking for it. By all means put your starting price out there but you need to gradually reduce the price until you hit the sweet spot. You will know when the price is right, you will start getting calls on your car. You can then negotiate from there.

[MD]

A sale depends on who has the power. This principle applies to all forms of sale.

If the commodity is rare or sought after then the vendor has the power. If the item is run-of-the-mill, the buyer has the power.

Raising, lowering or keeping a price steady really depends on these power games. There is always a buck to be made as there is always a bargain to be had if you know how to play the game.

[Italian Supermodel]

If you own a classic and have been down the road of buying,restoring or even just maintaining a vehicle of this nature it's a more personal and intensive commitment than 90% of cars loaded onto carsales.com.
I agree MD that if I was needing to sell my Montreal I would approach it differently to a sale of my 2011 just out of lease 159.
What you tend to see happen a lot is when a seller will be instantly guided by the asking price(fair or inflated)of another on the market. They may not be aware it's been on the market for the past six months and that the owner is happy driving it everyday not really fussed if it sells this year or next.Its justification and enough evidence to this new seller "that's what they're going for"(!!) and another one has just bought a ticket on the Luna Park Rollercoaster.
What I was quoted recently for a full restoration of a mid 70's Alfetta makes the majority of the clean honest examples with extensive history from the 60's, 70's and 80's seem like fantastic value.
It has given me a more appreciative outlook on those vehicles and their owners who have maintained them to such exact levels for long periods.
At the time of selling that needs to be acknowledged by both parties.