Need advice pricing my car

[m12gto3r]

2004 GTO-3R
FNSH
Larch Silver
37k miles

I've had it up for sale for about 5 weeks and haven't even had a serious enquiry at £29500.
Am I over pricing it? If so, what is a fair price?
I know the mileage is putting people off and it isn't the best time of year to sell. Should I hold onto it until the summer or would 6 months depreciation be a problem?

Any advice would be great.

[worty]

I think its the time of year more than anything. I'd hang on to the spring if you can . Prices seem to be reasonably solid at the moment but maybe yours is a little high. I can't see it loosing much between now and then if anything
worty

[leeshell]

Maybe others are like me. I am waiting until Januray to buy my Noble. (Been waiting since June, saving my money)

[ajg31]

Hold out till the sun shines mate. Its a bad time of year, also a run up to christmas and chances of interest rates are all gonna dent the amount of people with 30 k in their pocket. TBH tho, it does seem like the NObles have taken a bit of a hit of late. Mine is back up at the same price as yours via a dealer with warranty etc (not as good history as yours but less miles and maybe more piece of mind???)

[Lakelord]

Have you had a quote from a dealer? This will obviously be a couple of grand lower than the market price but it should at least get you in the ball park. Agree with the sentiments above tho, might be worth waiting 'til the spring if you're not desperate to get shot of it.

[m12gto3r]

£25K is the most I’ve been offered.

[roi354]

Unfortunately for you I have to agree with a previous post about waiting.

I'm after a specific colour/spec and am waiting for a real steal of a price if it happens.

Must admit, I keep seeing your car when I check for new ads on PH classifieds and am surprised its still there.

[sjc]

Two things, the car market is on its knees at the moment, and the time of year for this type of car isn't ideal, although this should be when the canny buyers strike. If it makes you feel a better, we're having the same problem with my wifes CLS. I've always sold to the first viewer privately but can't find one at the mo', just loads of timewasters with stupid questions. Might be worth trying SOR if you have other wheels.Also purchasing a warranty from Kerridges and including it in the price might give a private buyer more confidence regarding the mileage?

[Mike Tuckwood]

I agree in essence with sjc.
The used car market generally is on a downer. I too am waiting for the right time to buy, (GTO3R or M400) unfortunately though, the thought that car prices may re-inflate is obscure to say the very least, and it would be the first time I can remember cars appreciating and not depreciating?


I'll see if I can get my best mate to see if he can get an overall handle on likely per month depreciation rates and base book values, (he's a sales manager with Toyota) I'm sure they don't appear in Glass' or Black book though so may not be possible?.

Be careful if you choose to follow advice that suggests prices may rise over any period, (seasonal or not) never mind another 6 months and at least another registration plate change.
They're worth what you can get for them, this is a fact that I've had to face with every car except one that I've ever owned, (I lost £500 in depreciation after 3 years ownership) and without doubt will also be the case when I eventually sell my 3R/400.

I'd suggest giving consideration to the normal expected trend of things, if you want to make money over time, cars are not the way to do it, they only go down..... never up.


Mike

Edited by Mike Tuckwood on Wednesday 28th November 21:59

[ajg31]

Mike, i dont think anyone is saying the price will get higher, just that it is seasonally depressed. A bit like tryiong to sell a Cabriolet or motorcycle when its terrible weather. I bet everyone will be scrabbling for good examples come march-august if the weather gets nice and interest rates stay the same

[Mike Tuckwood]

ajg31 said:

Mike, i dont think anyone is saying the price will get higher, just that it is seasonally depressed.

Ahh, OK, it's the "seasonally depressed" bit that I thought was slightly misleading, while I see your point, I'll bet that in better weather with summer approaching, they may be easier to sell, but by then prices will also have fallen away further?

In the meantime, extra mainetenance costs will be incurred further compounding losses, even if only marginally?
You never know though, for the right price, I might buy it yet. We're only going to use it as a test bed for a whole host of high performance tuning options anyway so mileage will be low in my charge anyway.


Mike.

Edited by Mike Tuckwood on Thursday 29th November 20:55

[sjc]

Mike Tuckwood said:

ajg31 said:

Mike, i dont think anyone is saying the price will get higher, just that it is seasonally depressed.

Ahh, OK, it's the "seasonally depressed" bit that I thought was slightly misleading, while I see your point, I'll bet that in better weather with summer approaching, they may be easier to sell, but by then prices will also have fallen away further?

In the meantime, extra mainetenance costs will be incurred further compounding losses, even if only marginally?
You never know though, for the right price, I might buy it yet. We're only going to use it as a test bed for a whole host of high performance tuning options anyway so mileage will be low in my charge anyway.


Mike.

Edited by Mike Tuckwood on Thursday 29th November 20:55

Oh go on Mike, buy it now we're all waiting for more tuning options.

[Mike Tuckwood]

sjc said:

Oh go on Mike, buy it now we're all waiting for more tuning options.

Just you wait your time young man, I don't know, Christmas coming up, the kids are getting excited/impatient (That refers to us here, not you).

We need the right car, that's standard (ish), needs to be either Black or Silver, with not too many miles on it. We're just in the process of a big commercial expansion as well, including a likely move to new 10,00Sq/ft premises (if our offer gets accepted). So loads of balls up in the air in one go at the moment.

Oh, and the car needs to be at the right price as well of course and having watched a while now, I get the impression that prices are past the point where they should have droppped anyway (just my opinion you understand).

There's a black 04 reg 3R in classifieds, but the pictures of it are very poor, and the seller claims his PC crashed and he hasn't got any better ones? <suspicious>

Mike

[NickyTwoHats]

If you can afford to wait then wait -you'll get £28,500 for it.

[Mike Tuckwood]

m12gto3r said:

2004 GTO-3R
FNSH
Larch Silver
37k miles

I've had it up for sale for about 5 weeks and haven't even had a serious enquiry at £29500.
Am I over pricing it? If so, what is a fair price?
I know the mileage is putting people off and it isn't the best time of year to sell. Should I hold onto it until the summer or would 6 months depreciation be a problem?

Any advice would be great.

Just a query from your ad on PH John.

Service History
<snip>
15/10/04 18510 miles @ Noble Automotive Ltd.
23/10/04 25246 miles @ Noble Automotive Ltd.
</snip>

7 useable days of driving there I reckon as on the 15th and 23rd it would have been in the garage being serviced?
In that 7 day driving period, your car seems to have accumulated 6,736 miles!
Are you sure there isn't a typo in there somwhere, or are you really involved in endurance racing?


Mike.

[m12gto3r]

I've taken another look at the service records but the dates and mileage that are in my ad are correct. I bought the car in 2005 so I don't know where the miles come from.

I can only imagine someone would put this type of mileage on a car over a week by taking driving holiday, around Europe for example. Sounds like over 100 hours of driving in one week though, mad.

Any ideas?

[sjc]

As it was serviced at the factory give them a call. Maybe it was a press car?

Edited by sjc on Thursday 6th December 08:11

[T&T]

Gumball rally perhaps.....?

[Mike Tuckwood]

Hmm, That's London to Rome and back, 3 times within 7 days!


Mike.

[alex s]

Could be due to bad speed sensor, had this on my car about 2.5 years ago, coming back from the rockingham owners day, speedo was reading around 180-200mph all the way home. By the time I got it to a dealer it had clocked around 2,000 miles, when I had done about 150!!
As above, give the factory a call they will have the full details.
HTH.