Selling a vehicle in any wholesale marketplace, then getting market value for it and not selling it because you “want” more $ for it creates a paradox.
***By wanting to make more, you actually make less.***
Here’s what happens when you “No-Sale” after getting a market value offer:
- The Buyer’s are slighted. They took the time to give a market offer and you said no. Believe me, they remember.
- The unit is instantly stale in the market – the whole market.
- At “brick & mortar” auctions, the auction staff realize who the consistent sellers are (they are the ones who pay the bills), and they get preferential treatment. Don’t get mad at me! Can you blame them?
- Online static auctions – isn’t that just wholesale purgatory?
By wanting more money, the long-term play means you will get less for all your wholesale pieces.
I’m not saying sell less than market value – but for the sake of your bank account, sell at market value… even if you really want more!
“So how do I know what market value is?”
Glad you asked.
The old way was an “art form”. You had to extrapolate, interpret and then guess. It involved:
- Scouring market reports
- Using “guide books”
- Checking retail prices and then working backwards
In then end, it involved going with your gut feeling. Not very scientific, and prone to large errors.
Enter the scientific way, using data. Based around the 17 digits of the VIN, because every vehicle is different.
It’s what I use it to check how the auction is faring against the market.
It’s bang on.
99% right on the money last week. And the week before and the week before that.
Top wholesalers in Canada and USA use it to price the wholesale market.
It is called Accu-Trade.
Try it for free. No commitment required, no nagging calls, just sign-up and give it a try for 30 days.