Estimating a car's auction value is complex, as auction prices can be 10-20% lower than private sales. While rare vehicles may fetch higher bids due to competition, correctly pricing your car is essential to avoid setting unrealistic reserves or underselling. Familiarizing oneself with market values is key: retail prices represent the highest value and often rely on dealer profits, while private sale values, which yield better returns than trade sales, serve as a closer comparison for auction estimates.
Cars typically sell for 10-20% less at auction than they would in a private sale, but rare vehicles can exceed their book values when competition rises.
Understanding market values is crucial; retail value is the highest and includes dealer margins, while private sale values are usually closer to auction estimates.
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