Difference in dealer price vs. private sale?
#1
Difference in dealer price vs. private sale?
Looking for advice on how to approach selling a 968. It was my beloved husband's beloved car, but he died in July and I just don't want the upkeep of an expensive second car.
It's a 1993 black 968 cabriolet, 130k miles, in good condition / up to date mechanically. Top works. Exterior has some kind of special enamel finish that never needs waxing (and looks great), but there's a small crack in the body on the back bumper. Interior has typical wear after 24 years but everything works. Newish radio (CD, USB, aux, but no bluetooth) and fancy 1993-era speakers/subwoofer that sound great. My husband was its first owner and kept records from most of the work (spotty from 93-02 then I think everything after that is there). In the mid-90s this car was in some kind of accident that required body work (hence the special paint finish) but I'm not sure what happened. The Carfax says no accidents. Car was garaged most of its life, and has always been located in Virginia.
I checked some valuation sites and classifieds, as well as this excellent article posted to the forum. Based on all that, I think the car could be worth $10-12k in a private sale. What is the typical markdown percentage when selling to a dealer / wholesaler? I had originally checked Kelley Blue Book which said $6500 for private and $6000 for dealer. I talked to a wholesaler who was willing to buy it for $6000, but now that I've done more research I think it's worth more and I'd like to figure out what's fair. I'm not in a particular hurry to sell it but I also would like to see it go to someone who will enjoy driving it around. (I enjoy it when I drive it, but with the cold weather I'd rather drive my car which has heated seats.)
Should I try the autotrader.com tool that requests a quote from 3 local dealers?
Thanks!
(Tried to post this yesterday and got a message that my post was awaiting moderation. I was able to post in another forum so I'm trying this again.)
It's a 1993 black 968 cabriolet, 130k miles, in good condition / up to date mechanically. Top works. Exterior has some kind of special enamel finish that never needs waxing (and looks great), but there's a small crack in the body on the back bumper. Interior has typical wear after 24 years but everything works. Newish radio (CD, USB, aux, but no bluetooth) and fancy 1993-era speakers/subwoofer that sound great. My husband was its first owner and kept records from most of the work (spotty from 93-02 then I think everything after that is there). In the mid-90s this car was in some kind of accident that required body work (hence the special paint finish) but I'm not sure what happened. The Carfax says no accidents. Car was garaged most of its life, and has always been located in Virginia.
I checked some valuation sites and classifieds, as well as this excellent article posted to the forum. Based on all that, I think the car could be worth $10-12k in a private sale. What is the typical markdown percentage when selling to a dealer / wholesaler? I had originally checked Kelley Blue Book which said $6500 for private and $6000 for dealer. I talked to a wholesaler who was willing to buy it for $6000, but now that I've done more research I think it's worth more and I'd like to figure out what's fair. I'm not in a particular hurry to sell it but I also would like to see it go to someone who will enjoy driving it around. (I enjoy it when I drive it, but with the cold weather I'd rather drive my car which has heated seats.)
Should I try the autotrader.com tool that requests a quote from 3 local dealers?
Thanks!
(Tried to post this yesterday and got a message that my post was awaiting moderation. I was able to post in another forum so I'm trying this again.)
#3
Three Wheelin'
You will always get better price when selling on your own.
I would suggest updating your location in your profile and perhaps someone from the forum could take a look at the car and assess its real price before you sell it.
Or post detailed photos here and you will get some input.
Sorry for you loss..
I would suggest updating your location in your profile and perhaps someone from the forum could take a look at the car and assess its real price before you sell it.
Or post detailed photos here and you will get some input.
Sorry for you loss..
#4
Go to eBay and click on to "sold listings" for your model and year will petty much give you an idea what it's worth. Another thing you may want to consider is listling the car on eBay. EBay does charge a fee but what eBay offers is a SAFE way to sell a car privately to get the best price without strangers coming to your house. If you do use eBay put in the listing "only bidders with 10 or more positive feedback" and "local pick up only" . It's ok to ship the car but let the buyer make the arrangements. When the shipper arrives he'll quickly look over the car and then hands you a receipt and you are done. Easy peasy
#5
Thanks, you guys! I ended up with duplicate postings. Here is the other one, where people have responded: https://rennlist.com/forums/924-931-...993-968-a.html
There was something weird about my account when I first created it. When I tried to make my first post (the other one), it said "your post is awaiting moderator approval." After a few days it hadn't posted, I couldn't see any posts in my history, and I couldn't send PMs. I could post in the test / tech support forum, so I tried posting again here. When a mod got to my posts, he approved both of them.
Sorry for the double!
Marc that is really good info about eBay, thank you. Looks like there may be some rate of people backing out of sales...at least 2 of the 968s I see on there have multiple sold listings a couple months apart. But definitely seems better than Craigslist.
I spoke to the wonderful 968 club president Jeff968 and have a plan to work on selling it in the new year.
There was something weird about my account when I first created it. When I tried to make my first post (the other one), it said "your post is awaiting moderator approval." After a few days it hadn't posted, I couldn't see any posts in my history, and I couldn't send PMs. I could post in the test / tech support forum, so I tried posting again here. When a mod got to my posts, he approved both of them.
Sorry for the double!
Marc that is really good info about eBay, thank you. Looks like there may be some rate of people backing out of sales...at least 2 of the 968s I see on there have multiple sold listings a couple months apart. But definitely seems better than Craigslist.
I spoke to the wonderful 968 club president Jeff968 and have a plan to work on selling it in the new year.
Last edited by 968TopDown; 12-22-2017 at 10:40 AM. Reason: added plan to sell
#6
Let me just add this is the worst time of the year to sell a car let alone a sports car. I remember working in a dealership (mechanic) December thru February was very slow for new and used car sales. Everybody is tapped out from Christmas. If you can wait for the warmer weather and people getting there tax returns back, you'll do much better.
#7
Three Wheelin'
A dealer will only pay $1500 or more, sometimes much more below what the car is worth. A 1993 968 with 130k miles will always command a very low ball price from a dealer. This is due to the high mileage. You would be much better off selling the car here on Rennlist or on your own.
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#8
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Let me just add this is the worst time of the year to sell a car let alone a sports car. I remember working in a dealership (mechanic) December thru February was very slow for new and used car sales. Everybody is tapped out from Christmas. If you can wait for the warmer weather and people getting there tax returns back, you'll do much better.
Condolences for your loss.
Especially with a Cabriolet. Warmer spring weather is a good buyer motivator to purchase if you can wait a few months. It would give you time to do some deep cleaning, washing and waxing then taking some 'glamour' shots of the car for advertising. The $6K offered by the dealer is a steal for them and not a deal for you.
#9
Nordschleife Master
In all honesty if I was in your position I’d sell it to the wholesaler who was willing to buy it for $6000 and let them deal with the headaches. This is what I’m imagining without seeing the car. It’s a high mileage car that’s been wrecked in the past, repaired and resprayed but still has bodywork issues, has a worn interior which has probably been cut-up somewhat to fit the aftermarket speakers/sub and it’s not the most desirable model being a black convertible (btw is it an auto or manual transmission?). It might sound harsh, but as a comparison I’ve recently bought a more desirable turbo model in similar condition from a private seller for $6k. Yes, I agree you might get a couple $k more if you fix it up, take good pics, advertise it, deal with tire kickers who waste your time and wait until next spring/summer to sell it. It’s just an (my) opinion, sorry for your loss and glws.
#10
#11
Nordschleife Master
For comparison: Heres a 1992 convertible with similar mileage sold privately on eBay recently for $7,700 ($7,350 net after fees). It has good original paint and interior. Top needs replacing but they all do by now if they are original, they are not expensive iirc under $500. I’d also say that this was a more attractive color than black for a convertible and it’s also a manual trans.
1992 968 6-Speed Convertible
http://ebay.com/itm/1992-Porsche-968...app-cvip-panel1992 968 6-Speed Convertible