Are Autotrader Systematically Driving Down Used Car Prices?

[Mrs MINI 8]

Autotrader’s misleading valuations, along with missing models are (in my opinion) driving down the price of MINIs 

 

I have an 07 MINI Cooper S with JCW conversion - a 210 bhp .    I can only load this as a standard Cooper S with 175 bhp since AT swapped from Cap to Glass Guide, so potentially misleading customers with inaccurate data.        (In fairness AT said the missing model will be corrected BUT not until the end of February some 9 weeks away from now - not very impressive)

 

Autotrader’s valuation systems say

 

Part Ex  Â£5,320.00

Glass Guide Say £6,590 (but give the option to add extras which would bump it for the JCW to £7500, more realistic of the market place)

Autotrader Private Sales value is £6,650 if you are selling but if you are buying it says to expect to pay a Dealer £7,570 - £8,370

Glass Guide Retail is £8,010 + the JCW addition

Autotrader Retail Price is £7,968

and I have it advertised at  Â£9,000

 

What is going on?    Please someone tell me how AT can value a car at £5,320 to a member of the public if they are selling it/px it, when I have it at 9K when I am selling it - that’s a difference of 3,680 which is more than 50% of their PX value.  Customers are not stupid and whilst I would love to draw three and a half grand from a MINI, clearly that doesn’t happen or we’d all be dipping our toes in our pools in the South of France !!

 

On one hand Autotrader price it at £7,968 for retail (when I am in the actual car on my dealer portal) yet they tell customers who go to the valuation page something different when they click "buy".

 

Exasperated with Autotrader’s valuation systems doesn’t even come close!!

 

Be interested to hear other people’s exercise and thoughts.....

 

[Webuycars 4]

I have been buying and selling cars for over 35 years and discrepancies regarding valuations have been the same for all that time and not much has changed IMO, back in the day you had Glass's and then CAP emerged as a competitor also we had the retail customer turning up with his Parkers guide in his hand, Now we have valuations available from a whole host of sources, Manheim also have a new system using live data but at the end of the day valuations are all subjective, and can even differ from region to region although this is less apparent now in the digital era, 

 

At the end of the day you make your own judgement using your chosen valuation tool and "earn or learn" as we used to say . Nobody can value every car the same and rightly so, thats what makes this business different to many others because there are so many variables . If you look at Sytners Auction site for an example i have seen a desirable car go on sale at £x only to see the car sell for another 3-4k ??  obviously the customer has accepted Sytners valuation when he or she part exchanged the car . 

[GreenGiant 287]

Good points, but I don't think Mrs Mini is questioning our valuation skills. Rather the ability for Mr & Mrs Public to acquire 'trade' valuations from the largest online portal. In our day, as you rightly said, we had a Glass's Guide in a nice leather holder, made our own judgements and 'earned or learned'. Then CAP came along and we had to compare the two but still used our own expertise to decide which was right and went from there.

Our customers did not have access to any of our weapons of choice. I didn't even let the DP have a copy! I always said he could look at it but could never use it as it was so dangerous!

But now...

 

Where's the knowledge?

Just tap in the reg no and mileage and you'll be told the value.

Spec, colour, history, owners?  Who cares? I'm buying and I want the cheapest. I've been told what it costs and you need my business. If you don't sell it to me, somebody else will and I'll screw your reputation on facespace and twatter.

 

Welcome to the New World.

 

And we're letting it happen.

[Webuycars 4]

On the other side of the coin most of the public are entering there details into WBAC or similar portals and getting there plug knocked in with the part exchanges so its swings and roundabouts and the skill is as always buying the best stock you can at the best possible price, if the customer wants to buy a particular car and he cannot find one at that price quoted by auto trader then he will have to shell out to get his desired choice however i do take the point regarding AT but usually things will even themselves out eventually until then "who dares wins Rodders"

[GreenGiant 287]

Yes, but the world is their lobster, not ours, at the moment.

WBAC will certainly give them a rude awakening with the PX 'valuation', but it will also give them a 'valuation' on ours too, so their perceived price to change is still unrealistic. And then they tell everyone our cars are too dear.

[Webuycars 4]

Well the other option is stop using AT if you don't like what they are offering, but as i say things usually even themselves out but again i agree that AT is not helping, be interesting to see where things go with Motors v AT over the next few years, 

 

One thing will never change though, if you have the right car in the right colour and spec with sensible mileage and it is presented well with good provenance it will sell ................. at a price ! 

[Webuycars 4]

Just had a quick look at the www.motors.co.uk site and done a valuation using the tab at the top  "whats mine worth "  all i can say is that if the customer is armed with those valuations then get ready for a real battle . 

 

 

Try one . 

[andymc1973 199]

yes, but it is our revenue  that keeps A/T going not the private buyer and there is no magazine to buy now either