Why are people so unrealistic about their car's value . . . ?!


#1

Hey, guys!

What planet is this person from?

Why on earth should anybody pay their asking price . . . ?!

http://losangeles.craigslist.org/lac/cto/5476161170.html

I think the only person that would pay $4500 is somebody with very few brain cells

No offense to the regulars who drive Metros . . . but a low mileage Metro in good condition is still a Metro


#2

It seems overpriced by about $3,000. A co-worker had a Metro in excellent condition but it was a third cheap commuter car. Another co-workers 18 year old Son had one. He was involved in what should have been a very minor fender bender. The Metro was quite totaled. Fortunately the kid was OK. I guess if someone was obsessed with MPG a $4,500 50mpg Metro verses a $25,000 50mpg Prius would make “sense”. OMG it happened again. As I was typing “Prius” a Prius commercial played on TV. How do they know???


#3

Maybe the guy thought because he had all of that new maintenance stuff done that means the car is worth that much. His logic is misguided of course.

About 15 or so years ago some guy in OK City put up an early 80s Buick Regal for sale and he was asking 11,500 for that thing which was probably worth 1500 on a good day if it’s clean.
He stated that he had almost 9k in stereo equipment in it so it’s obvious he was using the logic (misguided logic) that 9 grand of booming tunes made his ride worth a fortune.


#4

The worth is determined by what a willing buyer will pay a willing seller. Takes two to make a deal so this one will probably be listed for a long long time. Geez, its a 97.


#5

sounds like a $500 car to me .its probably has some hidden issues .


#6

This is one of those cars who’s value depends a lot on how new the tires are and how full the gas tank is.
You also gotta consider the fact that if you bust a tail light lens or anything else, you won’t be able to get a new one from the dealer.


#7

The standard range for an econobox that age is $750-$1`000. It does not matter how much the owner put into it.


#8

Hey, there are a whole lot of people out there with “very few brain cells”. Who’s the fool, the one that posts a realistic price and gets 95% of it or the one who posts an unrealistic price and gets 95% of it?


#9

TSM: I had the same thought. As someone said, there is a fool born every minute (or something like that).

Doesn’t cost anything to run the ad.

Even 50% of the asking price…

There was a recent Dilbert strip about that, employee asks for a ridiculous pay of $10M. and is bargained down to $2M.


#10

There are a lot of people out there that are unrealistic when it comes to anything of value. My late mother-in-law was one example. She locked the retail price in when she bought something and tried to get the same price for the item when she sold it 10 years later. I have an uncle that’s the same way. We call him a hoarder but he suggests that he’s a collector by default.


#11

Gas prices in Los Angeles are still really high. between mid 2’s and 3’s per gallon, and one place is still over 4 as of this writing. They’ve seen >$5 per gallon recently and no one in his right mind thinks that’s not going to happen again.

I know around here when gas was skyrocketing from sub $1 to 2 and 3 bucks, old CRX HFs were going for jawdropping prices as people tried to unload their old SUVs and get into something more economical.


#12

No matter the item . . every seller wants to make bank . . and every buyer wants to pay nothin’.


#13

I think that there is one (former?) forum member who would be willing to pay that ridiculously inflated price. Several years ago, “Otterhere” was very disappointed in her brand-new Toyota Yaris, and stated something along the lines of…That Toyota will never be able to achieve the level of automotive excellence of the Geo Metro.


#14

Good grief

As far as I’m concerned, Metro and Yaris are equals :naughty:


#15

I know what they’re doing though . . .
Ask and list a high price.
Accept a lower offer that the buyer thinks they’re getting a deal . .
And result in the final price that the seller always wanted in the first place.

Kinda like the indian jewelry market.


#16

Want to see owners with no idea on their car’s value? Go to ‘completed items’ on Ebay; for some car models most/all will be ‘no sales’. Often it’s for cars that folks THINK are collectable, but aren’t.


#17

It is in California, the car gets big MPG numbers and it passes smog testing. Maybe the bottom dollar for smog-checked high MPG cars is higher in Cali. Maybe not this high… But higher than say, San Antonio, TX or Columbus, OH.


#18

Greed + uninformed public = big profit


#19

I wouldn’t pay that much, but it does have pretty low mileage for a 97, good AC, and all the exteriors and the finish appears to be in very good condition, probably little rust in the nether-regions if it’s been in LA its whole life. Metros definitely have a following, so that’s part of how they can command higher prices than say a similar Ford Fiesta. Someone buying this car might be thinking it may have some value as a classic one day too, esp if returned to concours condition.


#20
a hoarder .. [is]... a collector by default
.

lol … that’s a good way to look at it … lol …