Hey guys. I thought you'd like to hear a market update. Roughly 40 1998 GS400's have gone through the huge auto auction in Orlando since mid November. The sales prices ranged from $21,200-$27,000. The mileage was between 19,000-57,000. Only 3-4 were the blue color I'm trying to get though. All told those are some pretty good prices I think.

Kevin

 

Wow, that's right in the price range I want to pay( $27k is my cutoff at the moment, but the more months that go by the better that outlook for me ), but then there's the dealer markup if I go that route. I'm in Ormond Beach, an hour south of you. My wife and I are hoping to get a GS4 by late spring/summer. Pearl, Silver and the blue work for me. I love the black, but I already have a black car...

I was thinking of hiring a broker to find me one at auction for a finder's fee, but the guy I used on Orlando is no longer doing it. Know anybody?

 

You have mail. Let's get all of the guys from CL together who are looking for used GS'. We could possibly get a better deal going if a few of us all contact my guy and buy through him. Next week is the best time to buy so secure your financing today and let's all nail down some GS400's on Tuesday.

Kevin

 

Sounds good bro, lets all get a great price, I would like to have a GS300, can you get one of those?

 

Which Orlando auction is this?

 

The guy can buy almost any kind of car. Its only limited by what's for sale at the auction on any given Tuesday. He goes there to look at the cars on Monday and calls the buyer and lets him know what's up with them (colors, miles, condition, options, etc.). The buyer can then decide how much each car is worth to him/ her and let your broker know not to bid past a certain point for each auto.

I'm not sure what the auction is called but its the huge one with up to 7,000 cars for sale every Tuesday. I went once and its crazy how big it is. Picture the parking lot of the largest mall in your town. Now take the mall out of the middle of it and envision cars parked from one side of the lot to the other. Its sick. Cars literally roll through the bays for bidding all day long in about 10 bays.

Kevin

 

here's the national Manheim Auction market report for a 98 GS4.

Market Analysis JAN 03, 2002 Nov. Oct. July Jan. 2001
Avg Price $24,799 $24,676 $24,947 $27,236 $28,429
Avg Miles 43,205 44,513 44,755 42,825 41,946

Projected Values Jan. 2002 Feb. 2002 Jan. 2003
Condition Above Avg Below Avg Avg
Wholesale $26,499 $24,796 $23,094 $24,332 $22,100
Retail $28,664 $26,876 $25,089 $26,348 $24,005


i can lookup any car if anyone wants. just PM me. this gives a good idea of how much dealers are into used cars.

 

Good information

I also tried to get a Blue Spectra GS400 , Nav,tan /grey interior with HIDS. Searched for 6+ months to no avail so I pickup up the Pearl. Im thoroughly happy with pearl though that blue is sure sweet.

 

actually got my car from the auction down in orlando, or at least that is what the dealer told me. his markup wasnt all that high, although he did try to send me out without a full tank of gas. "bullwinkle that trick never works!!!!!!"

 

Are the auction cars in good shape?

 

Dealers send cars to auction for various reasons. Your broker can inspect them and drive them on Monday. The actual auction occurs on Tuesday. All of the cars are supposed to be in good mechanical shape and have clear titles. They have a color code system that indicates if any warranty is offered or if the car is sold "as is". I've heard that the actual auction has mechanics on-site in case you have any problems on the drive home. I'm not totally sure how that works though.

Kevin

 

cool sounds good, I would want a problem free car

 

i'm looking forward to getting my silver gs4 next week at the auction in orlando...thanks for your help jaxfl.....

 

Is this a dealer or public auction? I have my car dealers in the family but never heard of inspecting and such the day before, that would be great. What auction group is this? Do they have any centered in MI? I'm in need of a GS or a CLK.

 

These are dealer auctions. And yes they do let you look at them before hand. On Tuesday, the day of the auction, you better not blink. The two main auctions are Manheim and Adessa. Yes, Manheim does have a site in MI... not sure if Adessa does. You should be able to find what you want at either auction.