What Price should I advertise my car for?

[mason storm]

Well I think the time has come to advertise my car, after weeks on the forum and no offers I need to extend the reach of my advertising. I also want to catch any Easter shoppers that might be looking for a sports car for Spring.

Looks like values have gone up a bit but Im trying to decide what to advertise it for. I saw a similar spec and age car for £14,995 from a dealer do I need to undercut by £2K? advertising for £12,995?

Heres the link on auto trader http://www.autotrader.co.uk/classified/advert/201502070759317/sort/default/price-from/11000/radius/1500/channel/cars/postcode/hp39ee/model/z4/price-to/16000/make/bmw/maximum-mileage/up_to_50000_miles/maximum-age/up_to_8_years_old/onesearchad/used/page/2/engine-size-cars/3l_to_3-9l/usedcars?logcode=p

Any advice is welcome as I haven't sold a car in years so I expect to get knocked down a few hundred from what I advertise anyway. Im not in a special hurry but at the same time don't want to over or underprice it.

Heres the forum link to my car http://www.z4-forum.com/forum/viewtopic.php?f=41&t=74013

 

[Yorkie Z]

Looking at the competition I'd say £12500 Ono for private sale.

 

[mason storm]

Looking at the competition I'd say £12500 Ono for private sale.

Thanks for the feedback, Yes I think you might be right although I saw this private sale on Pistonheads for a slightly older model with slightly higher miles at @12995

http://www.pistonheads.com/classifieds/used-cars/bmw/z4-coupe/bmw-z-series-z4-si-coupe-2008/3864313

 

[Mad Professor]

If it were me i'd advertise at £11,975 and you'll have it sold within a few days with no messing about , and you can be firm at that price especially if it has decent SH
I always prefer to undercut other similar advertised cars because the market is quite ltd for privately sold cars in this bracket around 12-14k -ie most folk want the reassurance of buying from a dealer with some comeback and warranty if they are spending that much money.
It really depends whether you want to sell quick or hang around and then have to cut the price in 2 weeks time .
This way you can say to a prospective buyer that they can then afford to add another say £800 quid for a full fat warranty wise annual cover for peace of mind -which puts the car in effectively at £12,800
Go and check on the cost of an annual warranty cover and then you can show this to the buyer when they come to purchase the car

 

[mason storm]

If it were me i'd advertise at £11,975 and you'll have it sold within a few days with no messing about , and you can be firm at that price especially if it has decent SH
I always prefer to undercut other similar advertised cars because the market is quite ltd for privately sold cars in this bracket around 12-14k -ie most folk want the reassurance of buying from a dealer with some comeback and warranty if they are spending that much money.
It really depends whether you want to sell quick or hang around and then have to cut the price in 2 weeks time .
This way you can say to a prospective buyer that they can then afford to add another say £800 quid for a full fat warranty wise annual cover for peace of mind -which puts the car in effectively at £12,800
Go and check on the cost of an annual warranty cover and then you can show this to the buyer when they come to purchase the car

Good point about mentioning the cost of warranty, I think Ill go with £12,500 to start as Im not in a hurry and my car is newer and lower miles with full BMWSH

 

[bluestreak56]

Post you age, spec, mileage, and pm me your vin (last 7 digits), I'll do my usual valuation on it if you like.

 

[mason storm]

Post you age, spec, mileage, and pm me your vin (last 7 digits), I'll do my usual valuation on it if you like.

Thats very kind of your sir.

Feb 2009 "58"plate 42,000 miles. Si Sport, Parking sensors, bluetooth, heateted seats, red leather, comfort pack I think its called its the one with the extra nets on footwell and boot for storage. Full BMW SHS, just serviced in Jan and new MOT in Feb, 3 new tyres last Jan with 7K miles on them and one new tyre today. 108 wheels refurbed in 2103 which have no kerbing or rust on them. Carbon Black colour, no dents or scratches.

vin no LJ50643

 

[Jimminy]

The problem you will run into is your car will be the most expensive private coupe on autotrader by some margin (im ignoring the auto's for so many reasons) and the people willing to pay top dollor will probably want it to come from a dealer.
Last time I sold a car i made sure it was the cheapest on the market so I didnt have it having around, but I really don't think you should do that. I think I would be expect to get £11.5 but if you are in no hurry there is no harm in trying higher, it just depends if it's worth the hassle

 

[bluestreak56]

The problem you will run into is your car will be the most expensive private coupe on autotrader by some margin (im ignoring the auto's for so many reasons) and the people willing to pay top dollor will probably want it to come from a dealer.
Last time I sold a car i made sure it was the cheapest on the market so I didnt have it having around, but I really don't think you should do that. I think I would be expect to get £11.5 but if you are in no hurry there is no harm in trying higher, it just depends if it's worth the hassle

I agree that cheaper cars will sell quicker but thats obvious IMO. Its all down to the sellers needs at the end of the day, do you need to shift it quickly or not.

Yes I need to sell fast (in 2 weeks) - Undercut the value by £1000 and it should sell quicker
I need to sell in the next month - Undercut the value by £500 and it should sell in time
I want to get the right money for it - Sell at its value price and it will sell
I want to get top dollar for it - Be prepared to wait 2 months or so and price it £500 - £1000 over market value.

 

[mason storm]

I have someone coming to look at it today so I'm trying to decide how to handle the request for a test drive as they are very unlikely to be fully insured, probably just third party for driving cars they don't own

 

[bluestreak56]

Right here we go, lets start with the fact this is a very late built & registered coupe and therefore quite rare in itself. It was unlucky to miss out on being a 09 plate having been registered 3 weeks earlier for unknown reasons??

Here is the VIN spec



Here is the translation into the original OTR price.



Its a uniquely spec'd car. I would classify it as high-mid end having lots of nice options but lacking one or two of the high end ones (sat nav / xenons).

The cap valuation on this car comes in at a laughable £9,175 - £9,775 Trade In Clean. Wisebuyers says £10,102 for private good based on age and mileage alone. (£11,882 for dealer)

My own calculator comes up as £10,359 for this car at 6 years of age before mileage.



I'm not going to adjust for the extra 2 months age (Feb - April) as I feel it should have no impact. At 6 years old it should have done an average of 60k miles. This car is 18k under that, which at an addition £50 per 1k means an extra £900. Taking it to £11,259.

You can argue the fact it has Full BMW Service History and a recent service will add £500-£1000 to the value.

Looking around at the market, I see this car as its closest compare : http://www.autotrader.co.uk/classified/advert/201503131695102

With a few extra options and being sold by a dealer, this car is about £2k over its true value.

In my opinion I would say £11,500 is the trade in value and bare minimum the car should be sold for. £12,500 is a good reasonable asking price. Personally I would hold out for at least £12k. I hope this helps

 

[Mad Professor]

if they cant show you evidence of being fully comp to drive your car ,then its quite simple -no test drive

 

[Jimminy]

if they cant show you evidence of being fully comp to drive your car ,then its quite simple -no test drive

And that's the problem with buying private, you are never insured as far as I know.
Would love to know how it can be done, the only way I can think of is if you add someone to your insurance policy.

 

[mason storm]

Wow thanks for the comprehensive valuation I have advertised at £12500 yesterday and already had a call as soon as I advertised and they came to view the car today. I am holding out for £12500 as I'm in no hurry and I do feel its a very nice car and the last year of manufacture. It's been very reliable and I think anyone that gets it will be very happy. Also it had 4 new Goodyear tyres last year and I just replaced the front offside yesterday after a puncture. The discs and pads show very little wear so there should be no costs for a while for the new owner.

Right here we go, lets start with the fact this is a very late built & registered coupe and therefore quite rare in itself. It was unlucky to miss out on being a 09 plate having been registered 3 weeks earlier for unknown reasons??

Here is the VIN spec



Here is the translation into the original OTR price.



Its a uniquely spec'd car. I would classify it as high-mid end having lots of nice options but lacking one or two of the high end ones (sat nav / xenons).

The cap valuation on this car comes in at a laughable £9,175 - £9,775 Trade In Clean. Wisebuyers says £10,102 for private good based on age and mileage alone. (£11,882 for dealer)

My own calculator comes up as £10,359 for this car at 6 years of age before mileage.



I'm not going to adjust for the extra 2 months age (Feb - April) as I feel it should have no impact. At 6 years old it should have done an average of 60k miles. This car is 18k under that, which at an addition £50 per 1k means an extra £900. Taking it to £11,259.

You can argue the fact it has Full BMW Service History and a recent service will add £500-£1000 to the value.

Looking around at the market, I see this car as its closest compare : http://www.autotrader.co.uk/classified/advert/201503131695102

With a few extra options and being sold by a dealer, this car is about £2k over its true value.

In my opinion I would say £11,500 is the trade in value and bare minimum the car should be sold for. £12,500 is a good reasonable asking price. Personally I would hold out for at least £12k. I hope this helps

 

[mason storm]

if they cant show you evidence of being fully comp to drive your car ,then its quite simple -no test drive

And that's the problem with buying private, you are never insured as far as I know.
Would love to know how it can be done, the only way I can think of is if you add someone to your insurance policy.

Well I told the buyer they would need to pay for 1 day insurance and they were happy with that should they decide to come back for a test drive. As it was today they were happy for me to drive with them a passenger

 

[bluestreak56]

I saw you had reduced it. I think that its a fair reflection on the fact its a late registered car with some nice toys and low miles. If I were you I would hold out. My own carbon black coupe, has a few extra toys, is an auto and is 45k. I listed it at £14,500 in Jan but removed it from sale as I decided to keep it for now. If I were to sell it I think market value is probably around £13,750.

As you say a well sorted car (tyres, discs, FBMWSH, etc) will help it sell quickly.

 

[mason storm]

Well my Z4 Coupe is now sold, I got the full asking price which I think was fair as the car is in A1 condition, just serviced and MOT'd.

Thanks for all the advice guys, especially bluestreak56 for your valuation which justified my price.

I think thats the quickest I have ever sold a car, advertised in auto trader on Friday, first phone call same day, viewed the day after, second viewing today and now deposit handed over with collection next weekend.

Just have to come to terms with it as Ive had the car 4 & 1/2 years which is maybe the longest I have had a car. Its been the best car I have ever owned, both for performance and reliability then when you factor in the looks I guess its not surprising how emotionally attached I am to it. I think if I could afford to I would have just held onto it but it doesn't make sense with a baby on the way.

 

[bluestreak56]

Fantastic, glad it went for its vale

 

[Jimminy]

That sounds like a good price for a lovely car, you come across as an honest seller and that makes a huge differance to me when buying a car.

Blue streak, if you don't mind me asking how are you working out value? I would value the op's car higher than yours due to being younger. Or are auto's considered more valuable?

 

[mr wilks]

Blue streak, if you don't mind me asking how are you working out value?

Are you sitting somewhere comfy with your paper & pen ready Jimminy