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Thread: Craigs List & Kelly Blue Book

  1. #1
    Join Date
    Nov 2006
    Location
    Alameda, CA
    Posts
    3,521

    Default Craigs List & Kelly Blue Book

    Does the Kelly blue book estimated valuing lists have any validity considering today's current economic climate among the general public? Or are folks trying to avoid the facts, realized losses and seek to hang on to some delusional fantasy that indicate otherwise that used luxury & durable goods market has tanked along with everyone's 401Ks?

    As I understood it - KKB was traditionally held as the insurance recovery cost index minus one's wear-n-tear. In the current used market whether it is pricing of a 8 year car, motorcycle or boat - the sellers (especially Craig listers) are still suggesting KKB as the starting point for negotiations rather than value and interest pricing. In other words... I think many of these "motivated" sellers are tripping in a world gone flea market!

    What's your thoughts?

  2. #2
    Join Date
    Mar 2000
    Location
    Plainfield, Massachusetts
    Posts
    14,676

    Default Re: Craigs List & Kelly Blue Book

    I've never found Kelly Blue Book to be an accurate indicator of the selling price of "private sale" used cars. Kelly Blue Book has always been high in my experience. I've found Edmunds to be more accurate.

    Now, that is all "general" experience (and I don't buy and sell cars a lot so my experience is more limited than many here). I don't know how often Kelly and Edmunds update their data but it certainly would not be surprising if they have not caught up with recent price changes in used cars. On the other hand, since people are avoiding buying new cars right now, I would not count on the price for normal used cars having gone down much. If someone's car dies, they usually will need a replacement and will, in the current environement, be more likely to get used car. Meanwhile, since people are not buying used cars there are probably fewer used cars on the market since people are holding onto their old car rather than trading up.

  3. #3
    Join Date
    May 1999
    Location
    West Boothbay Harbor, Maine
    Posts
    21,767

    Default Re: Craigs List & Kelly Blue Book

    I doubt the statistical accuracy of KBB numbers as far as boats and OB motors go. I think the fact that the markets are so widely spread out and that there are such low numbers of sales and accurate reports that it makes them dubious.

    Perhaps a statistician will correct me.
    "Now and then we had a hope that if we lived and were good, God would permit us to be pirates." ~ Mark Twain


  4. #4
    Join Date
    May 2002
    Location
    Orland, Maine
    Posts
    537

    Default Re: Craigs List & Kelly Blue Book

    This is right off the KBB site for used car pricing.
    "Suggested Retail Value
    This value assumes the vehicle has received the cosmetic and/or mechanical reconditioning needed to qualify it as "Excellent". This is not a transaction value; it is representative of a dealer's asking price and the starting point for negotiation.
    Close Window "

  5. #5
    Join Date
    Feb 2001
    Location
    Sunrise FL
    Posts
    7,090

    Default Re: Craigs List & Kelly Blue Book

    I love KBB.....When an insurance company is buying my car.
    did I really say that out loud.........

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