who sets the market price and determines what is (Over Priced) ?

Asked by Chris Aug 24, 2021 at 07:32 PM about the 2011 Mercedes-Benz E-Class E 350 Sport

Question type: Shopping & Pricing

I have a car listed that I think is priced fairly, the similar vehicles support my
thoughts and the price I put on the vehicle, however, in big bold RED letters, it
says OVER PRICED on my listing ?  is this to steer buyers to your popular
clients listing ? please advise

2 Answers
155,355

james answered 2 years ago

Hi Chris, based on kbb.com your car is priced above market value. Kbb.com says private party value is around $13,719. So your asking price of $16,250 is high as indicated on your ad. I believe Cargurus gets it's information from sites such as kbb.com, NADA, etc. plus what others are asking for similar vehicles. Cargurus is also only an ad site so there's no reason for them to deliberately put an unfavorable price guide rating on anyone's ad. Hope that helps! Jim

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F_O_R answered 2 years ago

CG's uses an algorithms to compare car prices and make the value determination. If you try to get dealer prices for your car you will get a high price rating.

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