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Discussion Starter #1 (Edited)
I have a 2001 with 15500 miles and in perfect condition. Is it really worth only about $ 44K????

What do you guys think? Sounds like it's a buyers market.

How should I price it? Seems like the low miles didn't help it too much either.

Thanks for all your inputs.
 

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In the auto world (entire United States) of car dealerships, anything but GALVES is a joke. The "others" are over inflated values on the car your looking into for its value. here's their web site on the company, http://www.galves.com/

Galves Auto Price List, Inc
430 Industrial Ave.
Teterboro NJ 07608
Phone: 201-393-0051
Fax: 201-393-0508
Toll Free Order line: 1-877-OK Galves
(1-877-654-2583)
Monday - Friday 8:30 AM to 4:30 PM (ET)

Robert :cheers:
 

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KBB is not a great source for real world pricing on used cars. However, it is good for getting a general ball park idea. Check out Ebay and Auto Trader for more accurate pricing. Afterall, these two places are where cars are actually selling!

Travis
 

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M5Kid said:
KBB is not a great source for real world pricing on used cars. However, it is good for getting a general ball park idea. Check out Ebay and Auto Trader for more accurate pricing. Afterall, these two places are where cars are actually selling!

Travis
Absolutely agree KBB and Edmunds are way off for M5s. Unfortunately (for sellers) they are high. THis sets up an unfortunate dynamic where sellers think they are getting unbelieveably screwed by a dealership offer (in reality they are only getting majorly screwed) so they try to sell it privately, and since the market is so low, they believe they price it well according to KBB and it just sits.

I actually spoke with Edmunds and they admitted their pricing on m5s was 4-5k high- this was late last year. They claimed the end of the Model and the announcement of the E60 had impacted the market and they had not yet reflected those facts- (maybe lip service, but sale prices reported here over the last 6 months are usually below any free pricing service)

Autotrader is a good indicator as well but those are ASKING prices. ebay sales (or max offers) are a better marker of what people are willing to offer. ebay is usually imperfect as other factors impact the sale (trust, distance, timing).

My IMPRESSION is that 2001s are in the low 40s- low mileage, perfect, warranty(cpo), tires, etc maybe 45 with the right buyer. (A few discussions on 2002s at 48-50 in the last few weeks)
 
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