Please don't hate me, but I am considering selling my baby. KBB shows my 2005 XKR with 72K miles in good shape to be somewhere around $12-14K. This in of itself was a bit stunning, considering I paid nearly twice that four years ago, but having owned a 1997 XK8, I understand how these magnificent machines unfortunately depreciate.

I took it to Carmax for an appraisal to test the waters. I went through this appraisal and learned that I had some paint work done that I was not aware of, but aside from some minor cosmetic issues, they rated the mechanical condition as excellent and the body and interior as good. They offered me $10,000 on the spot.

I am considering selling because I am going to be moving across country in the next month, and with three cars, looked at shipping charges and where I want to go next. I think it is time to move on from the XKR and find the next cool project...

Is the Carmax offer really low? Should I post it for sale here? Carmax vs. retail sale, how much of a difference. Is the KBB estimate realistic?

Thanks for whatever insight or advice you can provide..

 

In my experience for a car values at $12-16k, a CarMax $10k offer is really good for them.

They tend to offer $5k below private party sale. CarMax makes a lit of sense for higher value cars where that delta is a smaller percentage and private sales can take a bit (think $30-$50k cars).


IMO, car is probably worth $12-16k but there is a supply demand imbalance and it may be a slow sale.

That said, it really comes down to how much you want to work for up to that $5k additional for private party sale and how long you are willing to sit on the car.

If you are considering, I'd throw it on eBay, no reserve, 5 day auction, starting price $10500. That will tell you the market and worst case match your CarMax offer after fees (which CarMax has as well).

Best!
dsd

 

Other than reading on the forum, I have no real idea of US values BUT the same factor applies anywhere - the faster you have to sell, the lower the figure unless you are very lucky.

Are shipping costs so high that it's worth taking a $2K or more hit for a quick sale?

If you do go ahead then it needs to be advertised a.s.a.p. Many members appear to use a combination of ebay, Craigslist and forum Classifieds. There's no reason why you can't put an advertisement in our Classifieds with links to other listings.

Graham

 

If it's really in great shape with no issues I wouldn't take that little. I think part of the reason these depreciate so much is that it's hard to find a real jewel with no issues, so the value is driven down by all the ones that have a lot of things to sort out.

 

If he did that he'd have a starting price at least half the asking price of the 4 other 2005 XKR's currently on eBay: here
So it should sell..

 

WOW ! ! thanks for this! That is incredible, considering what KBB is showing.

 

Remember, there is a big difference between asking price and selling price-- especially on eBay.

I wish you get all the money for your car, and I think a quality late model X100 R can get that money, you just need to find the right buyer-- which may take time.

-dsd

 

Heck for those prices you're in DB7 and almost in DB9 money. Carmax is in the business of making money, lots of money with their dealer model. They wanted a few grand more for a RWD same year stripper 4 bangerXF with more miles then what we paid for a CPO awd XF that we got.

 

I was griping in another thread about how few people bother to try to sell a used car on their own anymore. At the moment of trade-in, an automobile is separated from its history. Yes, some basic data about a car's history is stored in various databases and reported by Carfax, but its almost never enough to make an informed buying decision. If the miles are lower than average or higher than average or there's an accident reported, anything out of the usual, a buyer needs to know more about it than two or three 10-character fields in a database. Dealerships don't want to disclose anything because they think they're protecting the former owner's privacy. For example, if a car is 5 years old and only has 20K miles on it, you might be suspect of odometer tampering, but perhaps the previous owner was an executive with a company car and only drove his/her Jaguar on weekends. That would explain the low miles, but you'll never know that buying used from a dealer.

Then there's the long term value to consider. I've been involved in NCRS, restoring vintage Corvettes. So much history has been lost, but when the car becomes a classic, worth over $100K and a history can add $10K more, part of the restoration process is now tracking down all the previous owners. Restorers have recovered missing documentation like build sheets, spare keys, even original engines and other lesser parts. 95% of the time, the former owners are willing to cooperate, happy that a Corvette from their youth has survived (even offering to buy them back). Its hard enough when it was all private party sales, but each dealer transaction becomes a serious road block.

I can understand trading in a ordinary car, but special cars like an XKR can often be sold within the enthusiast community without even having to place an ad. Just let the local Jaguar owners club know its for sale. If nobody's come for it by time you have to move, then Carmax will buy it instantly.

 

A lot depends on your willingness (and circumstantial ability) to deal with selling the car on your own....which can be a big time sponge and sometimes a royal PITA.

The last time I had to make a major move the timing and logistics were such that fast, no-hassle liquidation of house, cars, and boat was the order of the day. Holding out for the best price was simply not in the cards.

Your situation might be different.


Cheers
DD