Does anybody actually go by what the reb book says
For instance:
The 1975 xb GT hardtop manual is listed for between 8,300 to 10,100. In my experience this is closer to 20k for a good one.
Or a 1977 Fairmont GXL 5.8L 4spd man. Red book list them for between 1k ans 2,300. You wont get a good XC GXL for under 6k. More like 10k for a real nice example.
or a 1971 XY GT. 35,100 to 45,800.
They reckon their prices are based on extensive research.
I think the older a car gets, the more redbook just does a few depreciation calculations and talks out of its arse. It is fairly accuarate with relatively new vehicles but as time goes by, they seem to lose the plot.
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Yeah, the valuers who maintain the figures really should have a look at what's going on in the market place. I wouldnt believe any of the prices they quote for cars more than a few years old, especially cars that are a bit out of the ordinary, the prices quoted in my experience are always cheap.
Yeah, the valuers who maintain the figures really should have a look at what's going on in the market place. I wouldnt believe any of the prices they quote for cars more than a few years old, especially cars that are a bit out of the ordinary, the prices quoted in my experience are always cheap.
Isn't the red book catered more for traders too? which would account for most prices being fairly pessimistic. I found their figures on classic falcons a bit of a joke. Unique Cars price list is a lot more accurate.
The Red Book and Glass's Guide are designed primarily for trade use.The mainstream motor trade is not interested in "old cars" and published values for these are always conservative.That is why you won't see many of these collector type cars getting traded in.The owners will usually get more by selling them privately.
It also helps the car dealer because if they use a conservative value on an old trade in they usually don't get stuck with it.
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