2KHarrier

If it sells at or close to the asking price, would that not be the "market" price? I believe something is worth what someone will pay for it.

Coulter

No, I think even a transaction occurs, you can still say something was above or below "the market price", which is just a shorthand way of meaning some sort of median or average price looking at similar vehicles.

I guess it's just semantics to say what is the market, but considering 99% of LS430 of that year go for about half the price or less, you can make a call that it was well outside the range of what they typically go for.

The idea that you can never say any transaction was above or below the market value because the transaction occurred seems like some sort of trick question on an Econ 101 test. Not something I'm going to get to hung up on discussing cars.

I honestly think some of these low mileage examples cause more service headaches than ones that were regularly driven.

alanchad

iTrader: (1)

Someone bought it!

Bocatrip

Of course it's gone. When a car is exceptional with low mileage and has a great reputation there are enough customers who will pay the premium price! Sorry but with these cars if u snooze u lose! I still think u might be better off getting the same car with 100k for under 10k which is where this car will be soon if being driven Daily. No worries. There will always be others.

toddmorr

a classic example of dealer skill in pricing. Sale price is determined by supply and demand, and there are very very few cars out there like this one, meaning ultra low miles, and a UL to boot, and '06 even. The small number of people shopping for this car know they have to pay up and they do, assuming they can actually find one. Hence, it went quick, even at a price almost all of us would consider nuts.
The dealer did exactly the right thing,,,price it crazy high, see if it goes, and if it doesn't you can always come down.

now what would be criminal would be to find out what the dealer paid as a trade in.....what do you bet they totally ripped the customer.

2KHarrier

Oh, I'm sure they gave under 10K in trade.

I paid 19K for my 05 with 48,000 on it. When I picked it up, the salesman was just in awe of the condition and features on a 11 year old car. Granted this was a Carmax salesman, so he wasn't used to seeing this level of automobile at the dealership. He even commented on the idea of buying such an "old" car for almost 20 thousand dollars...

I'm happy. Now I just have to keep my wife away from the curbs...

Bocatrip

Not Criminal. As the "bad guys" in the Godfather movies would say...."It's not personal... It's just business"... Same here.

warminwisc

So what if they got it for 19500 ya never know. Ya get a new smelling car one owner should run flawless forever quite possibly. Air shocks maybe. What an 07 460 with 35k gonna run? Tires suck

yoitskenn

iTrader: (4)

Sold to a member here

CA2WALS430

Greetings Everyone! Got another one for you. Right here near me. Look up at Lexus of Seattle:
https://www.lexusofseattle.com/Vehic...-WA/3177537533

2004. 18K!!! Kid you not. Elderly trade-in, sat in a garage. The dealer has done belts, tires, and 30k service. Non-UL. 17" chrome. White on Ecru they say, though it looks pretty Cashmere to me.
I would be tempted but I do not have that cash, and financing will not be great on a car that old.

Nathan

Johnhav430

You see it in marketing all the time, but very much in the insurance industry where it's all about risk. Say you are shopping for life insurance, everyone knows you should never buy whole life (through education a lot is dead, like annuities etc.). But you should have term. So should I buy a premium for $2 mil.? Don't I love my wife and son who is only 4? Maybe 5 mil.? The reality is we only have 4.x yrs. left on the mortgage. I should buy a policy to pay that off and then have some more to replace lost income on top of that, what, maybe 2-3 yrs. salary, not even? There's an old saying--you shouldn't be worth more dead than alive.

So on these LS430s. If they go 200k with ease, 300k with care, and beyond, again I ask, what difference does it make if a car has 35, 65, 85, 105, 120k miles? Are you going to be able to drive a car until the wheels fall off, or are you paying for something you will never be able to use? Human nature makes it very possible for sales people to get people to buy something they cannot use. Try insuring a diamond for the fake inflated appraisal price. Insurance co. will do it. But they will never pay it. (another sales tactic, I'm selling you this diamond for $10k, and it appraises at $17k--whatever dude)

semar

johan's points are well taken. Just because the 04 has only 18 k miles on the odometer it is not necesserely a good deal. Why does it need already new tires? Rubber deteriorating? Exactly the point. Most of the rubber is probably shot, so could be all the seals. To pay repairs on top of the 22 grand is not a good deal.. Old lady driven? Like the "old lady" said in an ad: My car does not use oil. It is 10 years old - I checked the oil recently and it still has oil in the motor." Leather dried out? Even if it sits in a garage it needs care. I would rather buy a 04 with 120k miles well maintained for 8grand.

Gronemus

Nothing personal Semar but I call BS. I don't know what it is about everyone's fixation on this forum about rubber and seals going to crap due to aging. Everyone talks about how reliable these cars are one one hand and then follow that up with how they are about to fall apart. I just don't get it. I've only been on this forum for about 17 months but I hardly ever run across any oil leak issues other than the occasional valve cover threads.

Who said anything about repairs? If I was buying this car it better be perfect out of the parking lot.

I'm with you on this one. That's what I did and I think I got a great value. I'd love to buy one of those ultra low mile beauties that some are willing to pay a large premium for but there are too many other things I'd like to own too...

mafpolo

I'll sell my 2002 Silver and black (rosewood) ultra, with 106,000, timing belt done, suspension converted, and in beautiful condition for slightly less than half of that. It doesn't have 18's, but it does have factory chrome wheels.

CA2WALS430

Seamar and Gronemus,
You are great. You both have me laughing in the good way, and appreciating my resistance to temptation.
Gronemus, hilarious comment about the rubber fixation, so true! This is a Lexus dealer, and they have done all the belts, fluids, and tires. And yes, for the amount I would spend on another 60-mo loan, I could keep piling on to a down payment on a home (not that I can afford any in the Seattle area), or take some nice trips.
Seamar, yes; some senior folks, like my dad, do actually have to buy tires from age and not wear. Tires do dry out an start cracking, and then are unsafe.

I spoke to my long-time independent, Toyota-trained mechanic, and he said if the life of the car is true, garage-kept, with a 30k, timing belt and such, he would have no problem buying that car.

To both of you and your great comment at the end, I have a 2003 with 123k perfectly maintained and in beautiful shape. I may pay it off in 2 months, so even though this 2004 in the ad is a rare opp, my car is a proven entity, with a LOT of life to live, and I am about to own it in full. So I think I agree with you both too!

Thanks!