Glasses Guide vs Redbook

[AU Mont]

Ive always gone off redbook market value for a gauge when selling or making an offer to buy a car. The values seem to be heavily based on age and nothing else

Today i had a look through the Glasses guide, and noticed it actually value alot of the newer generic cars less, and sought after older cars more, like a 2000 AUII 75th Lane for example is worth a couple grand more than on redbook.

So it looks like Glasses seems to be more of a reliable gauge on values than redbook............. whats your thoughts?

http://www.redbook.com.au/

http://www.drive.com.au/car-valuations
(which i believe is based on glasses values)

[Alan D Segal]

There's a reason that Glass's guide subscriptions are paid, and Redbook is free and IMHO it is the quality of the data.

[AU Mont]

i guess then theres another valuation guide which is common sense

none of these valuations take into account how the newer generic car will need bugger-all spent on it, and the older sought after car thats apprantly worth nearly as much will need constant maintenance on everything to keep it running & reliable.

theres a mint low km AUII sportsman ghia on carsales selling for 10k which looks to be going off the glasses guide........... as beautiful as it looks, i can forsee alot of stuff failing all at once in the near future and being someones headache. Can you really put a value on older cars?

[Alan D Segal]

Originally Posted by AU Mont

Can you really put a value on older cars?

I've always said they're really worth what you or someone else is willing to pay for them, or what someone would have to give you to part with it.

The gap between these two values is why a lot of people have trouble selling their used cars.

My XR8 might only be worth $7-8k to a dealer, but someone would have to give me $10-11k to part with it. Even then I probably wouldn't because I'd just be replacing it with something equally as old or something I don't really want.

Also, what's your definition of 'mint'? IMHO 'mint' means it is almost good as new, well maintained mechanically and cosmetically and shouldn't be likely to have anything fail. My car certainly isn't 'mint'. I'd call it 'fair'

[AU Mont]

well mint as in, everything looks clean & tidy with minimal wear, and everything works like it should.

but age kills cars, so imo its hard to chase top dollar on an older sought after car, when you know the repairs are in the mail. Ive paid top dollar for a fully optioned AU Ghia in the past, still to this day havnt seen another like it for sale. That car cost me another $3000 in repairs in my first 12 months of ownership.

So was it worth heaps because it was rare & running right when i bought it? Or was it worth sfa in the first place because it was just your typical problematic old car?

[Alan D Segal]

Originally Posted by AU Mont

So was it worth heaps because it was rare & running right when i bought it? Or was it worth sfa in the first place because it was just your typical problematic old car?

The former if you're after that particular model and care whether it is 'rare' and in good nick for what it is. The latter if you're a dealer faced with a trade in or a buyer just after 'a car'.

[RedHotGT]

Originally Posted by Alan D Segal

I've always said they're really worth what you or someone else is willing to pay for them, or what someone would have to give you to part with it.

Whilst this statement is true - it is also one of the most annoying and stupid things that people say when talking about the 'value' of cars.

What's it really worth? Well it depends on what your question REALLY is:

* What is the replacement value? Generally for insurance reasons
* Value for a divorce? Well the car isn't for sale - but it's worth something right?
* Price to sell at? You can't go and run an ad in a magazine/online without a price can you (POA? thats for elitists) and you don't want to get ripped off right?
* Price to buy at? Don't want to pay any more than I have to - right?

As we all know - the price that cars are advertised at - are not the price that cars sell at. You can go and ask $300k for your Falcon Hardtop - but is anyone going to pay that much? NO... (unless it's an ex moffat racer).

Glasses Guide, Redbook, Just Cars, Unique Cars, etc.... they are GUIDES... they don't say 'You Must Pay $XX,XXX' for a car. They are there to give you an indication of other people's cars and what they have been trading hands for in the public domain. They all use complex equations to come up with their figures, and aren't normally thrown up at random.

Some guides are more accurate than others - but they are only as accurate as the figures and equations they base their sums on. This is why Redbook has such an unrealistic value on a GT-HO Ph3 for example, where I'm sure they're pretty spot on with their 97 Corolla value.

The value of something depends on your situation - and the reason you're wanting the value in the first place.

If you're about to hop on a plane and head overseas - and you want to get rid of your car quick - then most likely you'll sell under the market perceived value.

If you're not in a hurry to sell your car - and you have a particular figure in your head that you want (or in some cases need) then it's up to you - nobody is holding a gun to your head - ask away - but don't complain when the phone doesn't ring or you get lower offers from potential buyers.

Too many people in the enthusiast world are focused on 'making a buck' on their car, or 'investing' for the future.

How about enjoying what you have, or sourcing a car that is within your needs that makes you happy. Or borrow money for it - it's your choice!

[302 XC]

Originally Posted by AU Mont

well mint as in, everything looks clean & tidy with minimal wear, and everything works like it should.

but age kills cars, so imo its hard to chase top dollar on an older sought after car, when you know the repairs are in the mail. Ive paid top dollar for a fully optioned AU Ghia in the past, still to this day havnt seen another like it for sale. That car cost me another $3000 in repairs in my first 12 months of ownership.

So was it worth heaps because it was rare & running right when i bought it? Or was it worth sfa in the first place because it was just your typical problematic old car?

It doesn't matter what it is or isn't,how old or how rare it is, once they are of age or Ks, there will be some faults of sorts regardless of spend, or maybe there wont be ???
I paid top wack for my 97 patrol, 1 owner,log booked under 200 K ,absolutely showroom mint condition , bought 5 years ago
Other than replacing 4 tyres at a grand,i haven't spent another grand on it
Did I get what I paid for by paying a premium for a quality product ,or should I paid less for a 2nd rate product and had expenditure out of this world

[Alan D Segal]

Originally Posted by RedHotGT

Whilst this statement is true - it is also one of the most annoying and stupid things that people say when talking about the 'value' of cars.

...

The value of something depends on your situation - and the reason you're wanting the value in the first place.

...

If you're not in a hurry to sell your car - and you have a particular figure in your head that you want (or in some cases need) then it's up to you - nobody is holding a gun to your head - ask away - but don't complain when the phone doesn't ring or you get lower offers from potential buyers.

I know you said it is true but it sounds like saying what I said the long way. Whatever floats your boat. Cheers and have a good evening

[RedHotGT]

Originally Posted by Alan D Segal

I know you said it is true but it sounds like saying what I said the long way. Whatever floats your boat. Cheers and have a good evening

Well, not really Alan.

So, what is a car worth - if it's not for sale then?

If it's 'Only really worth what you or someone else is willing to pay for them, or what someone would have to give you to part with it' then I guess the car is worth $0.00 whilst it is in my garage?

[Billydean]

Glasses guide is used almost exclusively in Britain by dealers. The values given are adhered to, your only argument is over the condition.

The guide throws up some interesting anomalies, for instance, you see cars dumped by the side of the road that would still be worth thousands of dollars in Australia, but are worthless according to Glasses.

When a recon engine in a 1982 XJ Jaguar is $1800, and Glasses says your car is worth $800, you dump it.

In Australia, old cars are worth what someone is willing to pay for them, you could probably make a business out of bringing old, dumped cars to OZ and reselling them, as long as you get the right ones.

I bought over a Citroen 2CV I paid $3000 for in England and sold it here for $18000, after shipping and duties I still made $10000.