Quote:
Originally Posted by Lucky13
Obviously you are not familiar with the car market in the USA. Sedan and coupe sales for all manufacturers were down double digit last year and ytd. People are buying SUV's and Trucks and the average discounts are over $3500 off retail even on strong categories. BMW residuals are probably at least average regarding sedans and coupes. An auction is your guideline for value really? Dealers buy at auction to turn around and sell for retail, you sold at wholesale not retail. Yes any car driven off the lot take 20% off unless your a dealer, 20% depreciation in a year is normal and 30-35% after 2 is normal.
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An auction was my "guideline for value" for the following reasons. I tried to sell the car privately (on this site, Ebay, and BMW CCA) for almost two months and the highest offer I ever got was $30,000. CarMax also offered me $30,000. For me, the $31,500 I will net after the auction was by far the highest offer I had received, so I took it.
My point is, when a dealer is willing to pay more for the car than private buyers are, something is "askew." There just seemed to be very little interest in the car at all, regardless of price. I had dropped the asking price to $35,000 in the final two weeks, which I assume is less than or similar to what a dealership would ask for it, and there were still no bites.