In Reply to: Re: Fair market value of '98 M Roadster? posted by Bruce on February 26, 2001 at 11:47:32:
So where there are more buyers than sellers, book price is upward starting price...with special premium for showroom condition and low mileage.
At this time of year, there are neither sellers nor buyers around here (have not seen another Z on the road -- besides my own -- since mid November). A seller would be foolish here, in the worst winter in memory, to try to sell a convertible sports car...so price would be driven down, if there were any buyers.
However, by May, price will rebound in my view, particularly because when the new version finally hits, it will be even more expensive than previously. Some folks think that that will drop prices on older ///M Roadsters; I think the opposite will happen, since if one wants one of these cars, and the new one is out of reach, then an older one will be the only option. In this part of the country -- during driving season -- it is a sellers market.
BTW...I traded in a '99 2.3 with 10k miles on it, again showroom condition, that I had driven for 18 months. Dealer only depreciated the car a bit over $3000 on the trade in, and resold the car in less than a week, actually making a few hundred dollars on it, and plenty on me!
Just the view from the cornbelt.