High(er) Mileage ZL1 Pricing Observation

[speedmon]

So here is the highest mileage ZL1 for sale that I've seen....10,500...yellow, auto, suede, CF hood, back up cam.

http://cgi.ebay.com/ebaymotors/Autom...item53f51be3e6

Prices have been dropping dramatically here in the first winter after the debut of the ZL1......2K-3K miles cars going for $50K (MSRP less 15%).

Current bid is at $40K. It should stall out around $48K maybe less.

This is not a promo thread, but more of a pricing observation......I can't believe how fast these things are depreciating.

[JimE]

It's more related to age than mileage. While mileage does have an affect on the price, not as much as the age. It's also winter, thus prices are lower. The same model in spring or summer will likely have a higher price.

[FINALLYSATISFIED]

It has a reserve price. They won't be selling it for $40k so good luck with that. I doubt they'd let it go for $48k. Sort of confused on what you call its deapprecationing. Its not a fully loaded ZL1, so considering the MSRP was roughly $54,095 (approx alittle higher) and the reserve price is most likely $50-52k. I think your judgement is a little bit off. However all cars deappreciate in time then some are lucky enough to see it regain back as time passes.

[speedmon]

Price doesn't lie.

Because of the volume, the best market for retail "spot prices" is Ebay.

There is another system where dealers sell at wholesale to other dealers.
The prices there for ZL1s are averaging around $46K-$47K. This car is for sale by an independent dealer.....they like to get 5% mins.....so if he got the car at low wholesale because of the high milegage, he'll probably take $48K and change.

There may be a "winter" dip, but generally prices don't recover....they may flatten but they don't increase....on depreciable assets.

We'll see, thats why I posted it.


My plan is to buy a 12 ZL1 next winter after the second year 15% drop....so I'm targeting a sub 15K mile car for about $40K. I always buy 2 year old cars and get 30% off.

I bought a 2010 SS last fall.....40K sticker for $20.5K.....thats 50% 2 year wack......

[BURNT ORANGE SS]

You are absolutely right. Next year you will probably be able to buy a ZL1 for $40-44k. Specially when you could buy them now for $48-50 on the low end.

[BigBlock69RS]

Originally Posted by speedmon

Price doesn't lie.

Because of the volume, the best market for retail "spot prices" is Ebay.

eBay is probably the worst place to gauge price off of. Many cars are put on there with either extremely low(with a extreme reserve) or extremely high prices as a means of free advertising.

And just because one car might have even had a starting bid at x doesn't mean that is the price for all other cars.

Yes all new cars depreciate zl1s are no different, just your methodology for gauging depreciation is flawed. a sample size of one you can't draw any correlations or conclusions from.

[FINALLYSATISFIED]

Originally Posted by BigBlock69RS

eBay is probably the worst place to gauge price off of. Many cars are put on there with either extremely low(with a extreme reserve) or extremely high prices as a means of free advertising.

And just because one car might have even had a starting bid at x doesn't mean that is the price for all other cars.

Yes all new cars depreciate zl1s are no different, just your methodology for gauging depreciation is flawed. a sample size of one you can't draw any correlations or conclusions from.

[speedmon]

Originally Posted by BigBlock69RS

eBay is probably the worst place to gauge price off of. Many cars are put on there with either extremely low(with a extreme reserve) or extremely high prices as a means of free advertising.

And just because one car might have even had a starting bid at x doesn't mean that is the price for all other cars.

Yes all new cars depreciate zl1s are no different, just your methodology for gauging depreciation is flawed. a sample size of one you can't draw any correlations or conclusions from.

Fair market price (equilibirum) is found where the largest number of buyers and sellers gather to negotiate price of an item......not my method....Adam Smith in mid 1700s and used in every Econ 101 class, which is required GE in a 4 year college.

Ebay is the largest interactive marketplace for autos in the world. You can't find a larger sample size anywhere. One may not like it, but likes and dislikes are irrellevant, as Ebay is a conduit for economic price theory....that is their business model and I don't see them going out of business in the near future.

And the depreciation rate that I use is not my creation....its the approximate rate used by banks to determine residual value on a new ZL1 lease....14.8%

This yellow one will be a good example to observe.....with auto, CF and RV cam the MSRP was approx $60K, cost of almost $65K with tax. The first owner already took the big loss.....probably in excess of 25%....I'll let you do the math.

[knitetrain05]

Originally Posted by speedmon

Fair market price (equilibirum) is found where the largest number of buyers and sellers gather to negotiate price of an item......not my method....Adam Smith in mid 1700s and used in every Econ 101 class, which is required GE in a 4 year college.

Ebay is the largest interactive marketplace for autos in the world. You can't find a larger sample size anywhere. One may not like it, but likes and dislikes are irrellevant, as Ebay is a conduit for economic price theory....that is their business model and I don't see them going out of business in the near future.

And the depreciation rate that I use is not my creation....its the approximate rate used by banks to determine residual value on a new ZL1 lease....14.8%

This yellow one will be a good example to observe.....with auto, CF and RV cam the MSRP was approx $60K, cost of almost $65K with tax. The first owner already took the big loss.....probably in excess of 25%....I'll let you do the math.

Is your name Spock?

[BURNT ORANGE SS]

There's a 2012 ZL1 at Thousand Oaks Nissan. It has 15k miles. They started asking $56k now they are down to$49k with no takers. You might be able to talk them down to $48k if you want a ZL1 this year.

[BigBlock69RS]

Originally Posted by speedmon

Fair market price (equilibirum) is found where the largest number of buyers and sellers gather to negotiate price of an item......not my method....Adam Smith in mid 1700s and used in every Econ 101 class, which is required GE in a 4 year ...

It has nothing to do with like or dislike, your source for data has significant pricing oddities that polute any corelation you try to make unless you correct for it.

When you actually have a more than one link to a zl1 that actually sold and traded hands (more like a couple dozen at least to draw even a weak conclusion), then maybe you have something.

Right now you have a sample size of one with an error rate approching 100%. Now that we all know, you know who Adam Smith is, all there is left is statistics another ge credit in many colleges...

[speedmon]

Its best not to get angry about prices..better to use the dynamics. Prices don't lie.....people do that.

Back to the yellow car.....
The highest Ebay bid was $45K......

Here's a good value...if you can live without a warranty.
White ZL1, 15K miles, tons of Torq mods, 840hp?
Most likely a member of Camaro5.
Willing to sell for $55K, probably would take $52K.
Says he pumped $25K into the car.
MSRP+Fees+Mods=$85K
Thats would be a $30K (35%) loss or discount.

http://cgi.ebay.com/ebaymotors/2012-...item338007f5ec

[speedmon]

SOLD!
http://cgi.ebay.com/ebaymotors/2012-...item338007f5ec

840hp, $85K ZL1 sold for $52K......
I think thats a good deal.......

The goods deals are out there and they do happen on Ebay!

[speedmon]

I'm not going to pull the trigger yet on a ZL1. I think I'll wait for winter to hammer prices one more time......but prices are tracking right to my goal....which is to buy a ZL1 for $40K-$42K.

Here's one that is almost there.
http://cgi.ebay.com/ws/eBayISAPI.dll...tchlink:top:en