Time and time again- over the last year and a half- I have wanted to buy a corvette- I ask people on here, ask people in the corvette owners club, and look at NADA guides and KBB- every time, none of those sources say it's worth more than (for example) 6.5k, yet it's selling for 9k, and they won't take less than 8- and end up selling forl ike 8.5- or everyone insists (including kbb) it's only worth 8, and the seller will not take anything less than 12k. Now if this happened occaisonally, that would be one thing, but every one I've seen sell has been for way above KBB and NADA pricing, as well as what others say its worth. I don't want to overpay, but I'm starting to think maybe KBB, NADA, are off, and the "values" of vettes have skyrocketed in the past few months so the owners are off. I've bought and sold many cars in my life, and I'm an automotive engineer myself, so I'm pretty sure I can read conditions and tell that these aren't "minto collectors quality" vehicles I'm looking at.
Can anyone help with the discrepancy?|||It all depends on the equipment, year, and especially the mileage. I bought mine with 34,000 miles on it for 23,000. There was a dealer in Florida who had the exact same car with only 6,000 miles. The asking price was 38,000. Low milage Corvettes really command a premium. On the other hand a high milage Corvette will really drop in price. it all depends on what you want the car for. Garage sleeper or to drive. Certain garage sleepers will increase in value, but you will miss all the fun of driving it. Also there are different markets. North vs. south. Try cars.com because they list from all over the country. Try and compare the actual selling price of similar cars, not the book price. Find the right one for you and enjoy !!! Mershons.com in Ohio is highly recommended. I bought from them before.|||vettes just that kind of rep|||pretty much its a corvette, its a sports car that is sought after. especially older ones and people think that there babies dont depreciate value. corvettes are kind of like the harley davidson of chevy. I say the same thing about people who have harleys where the nada guide says 8k and there selling it for 12k. its just i guess owners have this thing in there head which they think that is what there car is truly worth. the problem with nada though is its just a basic car guide and some are different then the others it might only have like 20k miles on it and its a 1997 you know|||Its basic economics. When a car is in high demand, or considered to be a collector car of sorts, it will always be over sticker. Another example of this is any limited production mustang. The gt500 stickers for around 45000, but its real hard to find a new one for less than 55000. Or the dodge challenger...people wanted to be the first person to have one, and in the begining they were selling for 70000. Now I could go get a new one for 40000. Just because there is no demand, or less demand.|||Several fators I think of that keep cars and other items at inflated prices include:
----supply and demand
----vanity of ownership (ego)
----compulsive buying
----personal likes
----disposable cash
----easy credit/bank loans
----sales psychology in that there is always going to be buyer near your price if you wait long enough
----a fool and his money are easily parted
----seller paid too much for it to begin with and tries to recapture his loss or not wanting to sell but puts a high price on it to "test" buyers
You appear to be an informed potential purchaser that researches the market place...good. Choice to purchase at inflated prices is a personal option and not one that is very realistic in todays times. We will see more and more of "the boy toys" hitting the market place and prices will settle out of need to sell and not speculation. Be patient as the right deal will come for you....just have the cash to do it!|||Most of it is the seller thinking the car is in better shape than it really is.There are a lot of vette's out there in all different price ranges and conditions. Just be patient and keep looking.|||It doesn't matter what blue book or any one else says if people are going to pay that much that's what its worth demand sets the price
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