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WHOLESALE VALUES for the EVO

 
 
 
 
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Old Jun 10, 2004, 04:00 PM   #1
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WHOLESALE VALUES for the EVO

Okay, boys..Fresh results..

This shows some great info about how our EVO's have faired..

Needless to say, these cars are holding well!!


Market Analysis OCT 11, 2004 Aug. July April Oct. 2003
Avg Price $22,974 $22,960 $23,339 $23,800 $25,100
Avg Miles 12,387 12,942 10,843 9,569 6,342

Projected Values Oct. 2004 Nov. 2004 Oct. 2005
Condition Above Avg Below Avg Avg
Wholesale $24,333 $22,933 $21,633 $22,700 $21,400
Retail $26,733 $25,233 $23,833 $25,000 $23,600

Total Sales 39
Avg. Miles 13,544
Min. Sale Price $ 18,300
Max. Sale Price $ 26,750
Avg. Sale Price $ 22,630



Edited to update on October 11th 2004

Last edited by M3lachsilber; Oct 11, 2004 at 09:52 AM.
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Old Jun 10, 2004, 08:59 PM   #2
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Blain, thanks for what is probably the best post on this forum in months. Having your wholesaler/dealer license certainly comes in handy from time to time!

The Evo is really holding its value after 16 months or so in the marketplace. The fear of values plummeting if Mitsubishi declares bankruptcy are without merit and the limited supply of MRs and RSs should keep values high across all product lines. I am going to sticky this as well.

Doug
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Old Jun 10, 2004, 09:04 PM   #3
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Thank you for posting this info M3 (Blaine). Our Evoz should keep their value more than other cars.
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Old Jun 11, 2004, 01:18 PM   #4
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Drives: '03 Evo VIII, '90 Talon TSi AWD, '90 Eclipse GS-T

It doesn't help that when anyone posts a car for sale, someone posts, "my grandma's cousin's neighbor's brother's friend's butcher just bought one for $21,000 out the door." People here seem to flame everyone's thread and then wonder why the resale value for our cars seem to be so low.
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Old Jun 11, 2004, 01:46 PM   #5
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This should shut the lowballers real good.

Great work man!
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Old Jun 11, 2004, 02:59 PM   #6
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It doesn't help that when anyone posts a car for sale, someone posts, "my grandma's cousin's neighbor's brother's friend's butcher just bought one for $21,000 out the door." People here seem to flame everyone's thread and then wonder why the resale value for our cars seem to be so low.
Quote:
This should shut the lowballers real good.

Great work man!
Thanks.

This is why I posted it. People that bad mouth other deals or speak of transactions in which they may or may not have been involved with are called "mavens"

ma·ven also ma·vin ( P ) Pronunciation Key (mvn)
n.
A person who has special knowledge or experience; an expert.

So the question now is..Are they the experts or not??

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Old Jun 12, 2004, 10:10 PM   #7
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Auction pricing

Just some observations based on my limited time as a (hobbyist) car dealer:

For many vehicles, including Evo's, auction prices seem to run higher than actual Black Book or Galves' wholesale value. Whereas the current average auction transaction is $23,990 for a 2003 Evolution, the Black Book value is $23,150. That number will serve as the starting point for a dealer to assign a trade-in or wholesale value for your Evo, but will be adjusted (often downward) by the dealer depending on local market conditions, his current inventory, what his wholesalers are bidding on the car, etc.

Moreover, if I take an Evo or similarly priced car to Manheim to sell it, my costs are typically $650- that includes all the auction fees, the rep fee, wipe-down charge, transportation cost, etc. That amount has to subtracted from the sale price recorded by the auction and listed on the Manheim Market Report.

I have noticed that used Evo prices have firmed up and held steady over the past few months. I was able to buy a low mileage example for a few bucks less last fall than I can now. It really is all based on supply and demand. With the rare exception of very limited production and niche vehicles, cars are a depreciating asset that typically lose value every month.

The advantage of the Evo is that it's one of the few cars that, IMO, is a bargain at full retail and an absolute steal in the used market.

I'd like to ask for a little tolerence for posters who are trying to sell or buy cars on this forum. A seller has the right to ask whatever he wants for his car, just as a potential buyer is entitled to make a lower offer without being called a "lowballer." If a buyer were required to pay the seller's asking price or the seller was obligated to sell his car to the lowest bidder, there would plenty of reason to take offense. But asking prices and buying offers are just that- starting points that can be accepted, rejected or modified depending on the situation. As M3lachsilber said, "a car is only worth what someone is willing to pay for it."
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Old Jun 13, 2004, 06:16 PM   #8
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Good points!

Incidentally, Manheim's auctions are notoriously THE WORST places for a dealer to buy cars but THE BEST places to wholesale them.

Manheim has turned the auction venues into what is basically a "feeding frenzy" for wholesalers. To Manheim, the dealers are their "retail" buyers...The more the cars sell for and the key word is sell, the more the auction makes. The wholesalers most times try to outbid each other in the auction lanes, whereas the selling prices on the block go $500-1500.00 OVER what the real value is or SHOULD be.

If they are lucky, these wholesalers have a home/retail buyer for it.(dealership) and that is why they went "over book" in the first place.

If they don't, their ego, testosterone and adreneline got the best of them and they own it for too much regardless.

Bottom line. The auction prices are a gauge. They are NOT gospel.

But my point still stands. If dealers are trying to bid on EVO's for the 24K mark on average, why on earth would a private owner sell it for anywhere close to that RETAIL!!!

Low, high, whatever. Just don't start in the cellar. The numbers are your gauge.
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Old Jun 22, 2004, 12:24 PM   #9
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Interesting! I am willing to bet anything that the White listed at Hobby (South Houston) is the one sitting in my driveway right now. My friend picked it up this weekend with 3500 miles on it from a Lincoln dealer.

M3 how is this list compiled? Is it from one wholesale seller(Adessa, Manheim ETC) or just a list of wholesale EVOs throughout the country? We are just interested in finding out a little more about the car. Several clues lead us to believe it was a companies promotional car.
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Old Jun 22, 2004, 06:38 PM   #10
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Manheim Auction only..
A carfax will reveal if the car has ever been "to the chutes" which is slang for when a car gets wholesaled through the dealer auction..

Got the Vin?
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Old Jun 23, 2004, 01:56 AM   #11
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Yeah a friend at a credit processing company is Carfaxing it tommorrow. We saw a info sheet on the dealers desk this evening with the mileage on the car listed at 3347, one mile off of the car on the list (it has 3422 now) so I am 99% sure that the car listed is her car.
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Old Jun 23, 2004, 07:40 AM   #12
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so I am 99% sure that the car listed is her car.
Please note.

Just because an EVO went to the auction doesn't make it a bad car.

I'm not saying people will construe it that way but just thought I would mention it!

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Old Jun 23, 2004, 11:24 PM   #13
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Quote:
Originally Posted by M3lachsilber
Please note.

Just because an EVO went to the auction doesn't make it a bad car.

I'm not saying people will construe it that way but just thought I would mention it!

Agreed!! It's just nice to know where it came from. The dealer it was titled at no longer sells Mitsu so there another little clue.
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Old Aug 15, 2004, 09:53 AM   #14
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I just wanted to take note of this fanatastic post. Thanks for opening up some valuable info that holds true to the best interest of the EVO community.
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Old Aug 15, 2004, 08:59 PM   #15
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My pleasure!~

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