Redbook - are their prices accurate?

But how do you gauge actual selling prices?

MMmmmm, as in every other market, something is only worth what someone else is willing to pay for it.

Someone gets their heart set on something - $$$ - if there's no market for it...no dollars, no matter HOW good it is.

I've found RB to be accurate...but lowish as has been said.

Q: But how do you gauge actual selling prices?

A: As I said..."Do your research using real cars and real prices from sites like Carsales and Trading Post."

Use the rule that no-one pays full asking price. So if a car is advertised for say $31990...chances are it was sold for $30000.

The asking prices on these websites are far more accurate than a Redbook guess-timate. Redbook doesn't allow for fundamental things like condition of tyres, length of registration, accessories, low/high kms, condition of paint/rust, dents....the list goes on.

Something to remember is that prices advertised by dealers need to be listed as drive away prices... this will inflate them above the redbook value.

Also it is fine to say check out websites like carsales and the trading post for car prices, but keep in mind that cars that are listed that don't sell for long periods of time are over priced. If the price was right they would sell. So if you check for a few weeks and keep seeing the same cars then the price is probably too high.

As an example a mate of mine was wanting to buy a Kluger, he found a good low mileage one that had been sitting in a yard for months that was over priced, he made an offer below the redbook retail value and the deal was done.

The only real factor that sets pricing is demand, if someone wants a car bad enough they will pay what they can afford, and sometimes more...