| From | Message |
| Howie
8/04/2002 15:47:34 |
 Subject: Determing Value
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| Message: My question is how to determine a fair sales price for a Lagonda? For instance, for 1984 S2's it seems most asking prices are in the 40's. But researching the sale prices actually realized (EBAY, private auctions, dealers, etc.) they seem to be in the mid to upper 20's. A huge difference between the asking price and the sale price. Even the 1984 S2's in the Prices section of this site, using a 1.6 conversion rate, show actual sale prices in the 20's. In the Intro section on this site Roger Ivett mentions that these cars are not worth much monetarily although this of quantification is very subjective. The sale prices in the 20's are consistent with NADA HIGH RETAIL for 1984 Lagondas in EXCELLENT condition. This is easily verified as NADA is accessible on the web. EBay also keeps history on its recent auctions. So how does one figure out the real value independent of the asking price? I realize this is not the best forum to ask the question for many of the readers are already Lagonda owners. Nevertheless, I would like to understand how the asking price is derived and if its typical to ask $15k-$20k more than the NADA high retail? | |
| Roger 8/12/2002 05:29:04 | RE: Determing Value | Message: The prices given on my 'prices' page are crude auction results. The prices given on my 'sales' page are what is asked by the seller (their expectation). They both vary considerably. There are also geographical variations between US and UK and European values (where specs differ). Condition is all important, and is illustrated in the large price differentials. Overpriced examples usually remain unsold. In simple terms the difference between auction & asking prices reflects the difference between wholesale & retail. ie. profit &/or cost of restoration. My advice is to look at as many examples as possible before buying for comparison. Surely a 'fair' price is what a buyer is prepared to pay & a seller to accept. In the UK, a reasonable early S2 car might achieve GBP10K at auction, but it would be unusual for any Series 2 or 3 car to achieve more than GBP15 here. I suppose retail/private sellers might try to add up to GBP5K on an auction estimate. Several Series 2 cars have sold at auction recently in the UK for under GBP10K, which reflects their condition and the state of the market for such cars. Certainly prices in the USA and Europe are a bit firmer than in the UK, but this may in part be due to availability. |
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