COPO VALUES IN GENERAL

[sYc]

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Why is it that so many people assign such a value to such a thing? I see people making statements like this about Mr. Norm's cars as well. You won't find any add for such a thing in ANY old car price guide and I wonder if anyone has anyway of knowing if it REALLY adds any value to a car as it is seldom that two identical cars sold from different dealerships are available at the same time to the same buyer.


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You are kidding ..right?

Who looks at old car price guides? I have yet to see one that came anywhere close to real world prices for supercars.

[MultiMopars]

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Why is it that so many people assign such a value to such a thing? I see people making statements like this about Mr. Norm's cars as well. You won't find any add for such a thing in ANY old car price guide and I wonder if anyone has anyway of knowing if it REALLY adds any value to a car as it is seldom that two identical cars sold from different dealerships are available at the same time to the same buyer.


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You are kidding ..right?

Who looks at old car price guides? I have yet to see one that came anywhere close to real world prices for supercars.

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Well, a couple of examples would be insurance and finance companies.

There are seldom adds in these guides for things like a COPO ordered car mainly because they seldom change hands often enough that there are any recent comparibles. There are several things that people will assign values to that are not in price guides such as color.

I started this thread because I am interested in values as well as the cars themselves. It is often hard to determine values on some of these cars because they most often trade hands privately and the sales/buying price is not for public knowledge.

You have to treat a guide for what it is a "guide." It is the same thing with newer cars and the price guides used by the auto business. There are often times that a car dealer will pay full wholesale book for a particular car if it is a HOT sellers for them. Typically a dealer buys a car a minimum of $1000. BACK of wholesale. book.

These old car price guides are created from the prices of recent auctions and reporting old car dealers. You have to gleen the values based on what you know about these old car and what you follow. As an example, if you follow all of the auction reports for a particular type of car that there has been no reported sales since late 2006 you KNOW that you have to take into account a general market value discount because the guides value has not moved since that time because there have been no sales.

I have been buying and selling these old cars for 40+ years as well as spent 30 years in the new car business. I will say this, anyone that is concerned about being upside down in a car they intend to purchase is a FOOL if they don't look at price guides. OTOH, if you have a money tree in the back yard that you can pick $100. bills of off anytime you want, or if you purchase out the pure love of the car with no intentions of ever selling then it makes no difference to you. However, as much as most of us say we are in it for the love of the cars, MOST are aware and concerned with where there cars stand as a commodity.