How do you establish your market values? They seem to vary all over the place?

Asked by Apr 09, 2014 at 09:19 AM about the 2011 Mazda MX-5 Miata Grand Touring

Question type: General

I'm looking at 2011 Miata Grand Touring with both being soft tops and both in Central
Florida. One has 18.5K and the other  28.9K miles and your fair market value for the first
is $20,164 and the second is $17,452. Do you just pick numbers at random? And they are
to the dollar... you list $17,452 rather than $17,500. That makes it look very specific, but
they aren't even close to accurate. So what criteria are you considering?

2 Answers

40

Condition condition condition. I suspect the algorithm values low mileage as well. I don't know car gurus' algorithm, but it's often an excellent start for negotiation with dealers and people who think their cars don't stink. Remember….it's just tin and there were thousands of the cars made… find another one if you don't like the price. The market is all-knowing, a dealer sells many cars and if he can't get his price he knows pretty much what the car will buy at auction…there are tons of cars that go to auction when a dealer won't sell or can't get his price because he went overboard on a good customer's trade-in to get a new car sale or keep a customer.

24,215

The cars options can also play a role in price as well as any carfax issues ie: accidents, ect and of coarse how many days its been sitting on the lot. There are tons of NC2 miata's for sale right now and are going to be more since the next gen miata aka ND will be out soon. Stop by miata.net for everthing miata its a great forum. good luck with your search.

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