Why do corvettes always sell for more than their value?

[BRF]

Time and time again- over the last year and a half- I have wanted to buy a corvette- I ask people on here, ask people in the corvette owners club, and look at NADA guides and KBB- every time, none of those sources say it's worth more than (for example) 6.5k, yet it's selling for 9k, and they won't take less than 8- and end up selling forl ike 8.5- or everyone insists (including kbb) it's only worth 8, and the seller will not take anything less than 12k. Now if this happened occaisonally, that would be one thing, but every one I've seen sell has been for way above KBB and NADA pricing, as well as what others say its worth. I don't want to overpay, but I'm starting to think maybe KBB, NADA, are off, and the values of vettes have skyrocketed in the past few months so the owners are off. I've bought and sold many cars in my life, and I'm an automotive engineer myself, so I'm pretty sure I can read conditions and tell that these aren't minto collectors quality vehicles I'm looking at.


Can anyone help with the discrepancy?

 

[michael]

It all depends on the equipment, year, and especially the mileage. I bought mine with 34,000 miles on it for 23,000. There was a dealer in Florida who had the exact same car with only 6,000 miles. The asking price was 38,000. Low milage Corvettes really command a premium. On the other hand a high milage Corvette will really drop in price. it all depends on what you want the car for. Garage sleeper or to drive. Certain garage sleepers will increase in value, but you will miss all the fun of driving it. Also there are different markets. North vs. south. Try cars.com because they list from all over the country. Try and compare the actual selling price of similar cars, not the book price. Find the right one for you and enjoy !!! Mershons.com in Ohio is highly recommended. I bought from them before.

 

[tock522]

Several fators I think of that keep cars and other items at inflated prices include:

----supply and demand
----vanity of ownership (ego)
----compulsive buying
----personal likes
----disposable cash
----easy credit/bank loans
----sales psychology in that there is always going to be buyer near your price if you wait long enough
----a fool and his money are easily parted
----seller paid too much for it to begin with and tries to recapture his loss or not wanting to sell but puts a high price on it to test buyers

You appear to be an informed potential purchaser that researches the market place...good. Choice to purchase at inflated prices is a personal option and not one that is very realistic in todays times. We will see more and more of the boy toys hitting the market place and prices will settle out of need to sell and not speculation. Be patient as the right deal will come for you....just have the cash to do it!

 

[boots]

vettes just that kind of rep