Keen As Mustard To Sell

[rehab2010]

Guess they are losing value quicker than thought. This dude had it advertised for 139, than 136 than 134 now 128K.

Redbook says 60% for a 3 year resale, which bring it to 100K.

Would love to see how it all pans out in 4.5 years or so, when all these leased ones start popping up in the market, with people needing to sell them, not just dreaming to sell used ones for 170K like these dreamers on carsales.

Edited May 31, 2010 by rehab2010

[Kujotk]

Guess they are losing value quicker than thought.

Redbook says 60% for a 3 year resale, which bring it to 100K.

Would love to see how it all pans out in 4.5 years or so, when all these leased ones start popping up in the market, with people needing to sell them, not just dreaming to sell used ones for 170K like these dreamers on carsales.

red book is always wrong these days, but the r35 will not hold it's value anywhere near as good as the Oz delivered R32's have. I've seen a white oz delivered r35 already sell at auction for under $140k and a dealer sell another white one for $150k includeing ORC. It's not the asking price that matters, it's the sale price that's important.

Must be the high milage and quick sale thats pushed that particular car down so fast.

[rehab2010]

I agree that the selling price is what matters, and who better is to list the selling price tha redbook. I think redbook is the one to follow. Its not what people want, its what people get - there is a black one on carsales, it has been for sale for 3+ months now, at 147K, and no buyers.

[Kujotk]

I agree that the selling price is what matters, and who better is to list the selling price tha redbook. I think redbook is the one to follow. Its not what people want, its what people get - there is a black one on carsales, it has been for sale for 3+ months now, at 147K, and no buyers.

red book goes down the shitter after a year or two because dodgey cnts go cheap to save on transfer fees when buying second hand..... then they cop it when insurance says they will only cover what the car was paid for (on the books). For the time being red book is close to the mark with r35's, but they don't distinguish between auction cars, desperate sales, sales between family members for tax reasons, damaged cars ect....

[rehab2010]

Redbook says: $122,400 - $132,400..........seems pretty spot on for me. More spot on than people advertising for 150-155K for 6 months, hoping for someone to buy. If you want to sell you will sell for what redbook says, since many buyers will not pay more than what redbook states.

Yes, data may be skewed, but I would not call it wrong for cars less than 5 years old - pretty correct for those I reckon.

[g35me]

I agree that the selling price is what matters, and who better is to list the selling price tha redbook. I think redbook is the one to follow. Its not what people want, its what people get - there is a black one on carsales, it has been for sale for 3+ months now, at 147K, and no buyers.

It has been more than 3 months, it started at $155,000 then $153,000 now $147,000. I went and had a look at it, started it up as well. It didnt seem like it was cared for all that well, it was very dirty and had been sitting in an undercover carpark for a while not driven. Swirl marks on the paint and had been scratched under the front skirt (probably not hard to do as they are low).

I have been following these on carsales pretty much since the first second hand was was advertised and the same ones are still forsale 6 odd months later just a little cheaper. There were even JDM GTR's for sale that were more expensive than brand new ADM models. I bet they didnt sell and were just removed because of being over priced. My theory is that almost everyone that was caught up in the hype, loved the car from the begginning etc and could actually afford to purchase the vehicle have done already. What we are seeing now is either the hype has worn off or they could afford to purchase on paper but in reality the ongoing costs have been more than expected hence they vehicle needs to be sold.

At the moment there are 11 private sale ADM R35 GTR's for sale on carsales.com.au the interesting thing to think about is why are there 11 cars that are 1 year old for sale now out of a very limited amount that have even been sold. I wonder what percentage of GTR's are now forsale vs how many have been sold in australia in the last year. I will bet that the percentage is a lot higher than say a 1 year old commadore/falcon vs how many of them have been sold in the last year. Put simply all the quick sales are gone and the dealers arnt selling many at all now, try and get any info about how many have been sold or how many are selling now per month, its an impossible task.

If you are selling a GTR now it is a different market than other $100,000+ second hand cars as after all it is only a Nissan (Not my opinion but common perception) and your market is limited until the prices get low enough for the average enthusiest to afford. What can you expect when your target market is driving around in $8000 - $15,000 cars. The prices are only going to fall further and further and faster. There will be sub $125,000 cars in the next 2 months and I would think by the end of the year it will be lower than $120,000. That's a $50,000 to $60,000 drop in 18 months. Not smart.

I went into Nissan at Werribee the week the GTR was released and sat down with the manager there we went through the car, the costs, on going costs etc and I had a choice of whether to buy the car or buy a house that I looked at up the road in the middle of Werribbee. I ended up buying the house for $145,000 which was $30,000 less than the purchase price on the car. I spent $5,000 on the house and sold it 6 months later for $210,000. If I decided to buy the GTR I would be down $50,000 now not up $65,000 so technically I am $115,000 better off having not bought the car. I am only trying to illustrate that letting someone else take the initial depreciation hit is better than doing it yourself and this car is a unique circumstance in my opinion being that is was the most anticipated and talked about vehicle ever.

Edited June 7, 2010 by g35me

[fireboy]

It has been more than 3 months, it started at $155,000 then $153,000 now $147,000. I went and had a look at it, started it up as well. It didnt seem like it was cared for all that well, it was very dirty and had been sitting in an undercover carpark for a while not driven. Swirl marks on the paint and had been scratched under the front skirt (probably not hard to do as they are low).

with $147,000 maybe an exdemo car might be cared even better.....I'm just saying...

[gt3gtr]

Think thats bad, check out how much a Porsche Cayenne Turbo drops. These are $270k cars that drop $100k as they roll off the lot.... I also have followed the second hand prices and just look at the same cars that have not sold in 6 mnths. At what point do you drop the the price? its the market that dictates what there worth not the owner unfortunately.. All prestige, highly taxed cars drop a huge amount very quickly, as the taxes make up such a huge portion of the price, every dealer takes those off when u want to trade. Also the reality of actually owning a performance car ( having had GT3's and Boxsters, etc ) is that the up-keep is EXPENSIVE. $4000 for tyres, Insurance, servicing they are all in proportion to what the car costs!! Think a lot of people have had a heart attack when they get there insurance/tyre quotes....

[fireboy]

At least they CAN get an insurance quote!

Since i'm under the age at 25, no insurance will cover my r35....

[g35me]

At least they CAN get an insurance quote!

Since i'm under the age at 25, no insurance will cover my r35....

Where have you been looking for insurance? there are ways that under 25's can insure a GTR.

[scarf]

Buyers also have to beware. I've also been following the R35 2nd hand market. Sellers advertising that the car has never been raced. However anyone who reads through threads in this section will recognise the particular cars for sale, and know that the owner has tracked it, and has had mechanical issues with the vehicle.

[fireboy]

Where have you been looking for insurance? there are ways that under 25's can insure a GTR.

Suncorp RACQ AMII... you name it...

[rehab2010]

Buyers also have to beware. I've also been following the R35 2nd hand market. Sellers advertising that the car has never been raced. However anyone who reads through threads in this section will recognise the particular cars for sale, and know that the owner has tracked it, and has had mechanical issues with the vehicle.

Good luck with identifying the car for sale and guessing that its the car some forum member has been tracking - its almost an impossible task, and what it would cost you to disguise it - a new rego plate and you wouldn't be any wiser.

I guess much easier way is to conclude that they are all tracked and driven hard, and then simply judge its condition.

I'm still saying that redbook is spot on, and the ones that are asking for 155K+ for a second hand one they can keep selling it for years to come. I've seen plenty of cars on carsales being sold for years - guess some R35's will end up like that.

[rehab2010]

Think thats bad, check out how much a Porsche Cayenne Turbo drops. These are $270k cars that drop $100k as they roll off the lot.... I also have followed the second hand prices and just look at the same cars that have not sold in 6 mnths. At what point do you drop the the price? its the market that dictates what there worth not the owner unfortunately.. All prestige, highly taxed cars drop a huge amount very quickly, as the taxes make up such a huge portion of the price, every dealer takes those off when u want to trade. Also the reality of actually owning a performance car ( having had GT3's and Boxsters, etc ) is that the up-keep is EXPENSIVE. $4000 for tyres, Insurance, servicing they are all in proportion to what the car costs!! Think a lot of people have had a heart attack when they get there insurance/tyre quotes....

And, and the sad fact mate is that lots of people buying cars like R35 will end up not servicing it properly, mistreating them and then those ones will be even harder to sell. Buying a supercar needs a supercar $ for support too, and yes, I've seen several people driving 200K cars, but when you tell them their tyres need changing they almost get a heartattack since they cannot afford 4K-5K-6K for a set.

[g35me]

Guess they are losing value quicker than thought. This dude had it advertised for 139, than 136 than 134 now 128K.

Redbook says 60% for a 3 year resale, which bring it to 100K.

Would love to see how it all pans out in 4.5 years or so, when all these leased ones start popping up in the market, with people needing to sell them, not just dreaming to sell used ones for 170K like these dreamers on carsales.

I rang this guy when he first put the car on carsales and it was almost $140,000. He said that he could walk into a used car yard and get $133,000 for it all day long, I guess that is not the case now. He also mentioned that he had a GT3 and a few other sports cars and that he like to drive his cars hence why it has 28,000k's on it which I dont have a problem with however I did get the impression that they would have been hard k's and it probably was tracked due to the pedigree of his other vehicles.

[R-PWR]

Cars always depreciate especially sports/luxury cars that are main stream and not limited in number. My uncles bough his f430 spider for 460,000 just early last year, now my dad Just bought one with 4000kms 06 F430 spider for 330,000 ! Part of owning these cars is understanding the losses if you dont own multiple property investments stay away and build a good asset portfolio then consider burning your money in cars .

If a brand new r35 costs 155,000 drive away the I wouldnt pay a cent over $130000 for one and that would have to be with under 10000kms otherwise less than $130,000. A lot of buyers on carsales are in a dream world (esp HSV owners) thinking that there cars are worth much more than they are. On the other hand a NUR will hold its price much greater in long run than a r35 gt-r which is a main stream non limited production car, and if you dont believe me look at M3 and there prices of models a few years old compared to new price.

[BoyWhoCriedWolf]

Last time I looked at redbook prices it said my ADM R32 was worth 19k. Redbook does not reflect the real value of a rarer vehicle. Great with holden and fords though.

[hkspwr]

At least they CAN get an insurance quote!

Since i'm under the age at 25, no insurance will cover my r35....

Gee under 25 and owning a gtr, must be doing ok...

[fireboy]

Gee under 25 and owning a gtr, must be doing ok...

still in uni atm >.>q

[rehab2010]

I had a bicycle when I was at uni - guess times have changed and being a checkout chick pays more these days