G Wagons Not Selling at Auction
#1
G Wagons Not Selling at Auction
The last couple of weeks have been tough for G Wagon sales. Seems like the market has turned.
All this in just the last eight days:
https://bringatrailer.com/listing/20...cedes-g63-amg/
https://bringatrailer.com/listing/20...es-amg-g63-20/
https://bringatrailer.com/listing/20...-4x4%c2%b2-17/
https://bringatrailer.com/listing/20...es-amg-g63-16/
https://bringatrailer.com/listing/20...nz-g63-amg-25/
https://bringatrailer.com/listing/20...s-benz-g550-8/
https://bringatrailer.com/listing/20...s-benz-g550-6/
https://bringatrailer.com/listing/19...enz-g36-amg-4/
https://bringatrailer.com/listing/19...enz-280ge-3-2/
All this in just the last eight days:
https://bringatrailer.com/listing/20...cedes-g63-amg/
https://bringatrailer.com/listing/20...es-amg-g63-20/
https://bringatrailer.com/listing/20...-4x4%c2%b2-17/
https://bringatrailer.com/listing/20...es-amg-g63-16/
https://bringatrailer.com/listing/20...nz-g63-amg-25/
https://bringatrailer.com/listing/20...s-benz-g550-8/
https://bringatrailer.com/listing/20...s-benz-g550-6/
https://bringatrailer.com/listing/19...enz-g36-amg-4/
https://bringatrailer.com/listing/19...enz-280ge-3-2/
#2
First one was bid to $231,000 on a $218,000 car and reserve not met. Insane seller.
Second one south sea blue is not a popular color and platinum white interior? No surprise.
All the other ones are last generation and do not apply.
Second one south sea blue is not a popular color and platinum white interior? No surprise.
All the other ones are last generation and do not apply.
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abhatti55 (04-27-2024)
#3
Super Member
Joined: Apr 2003
Posts: 917
Likes: 254
From: Northeast
2012 S350 Bluetec, 2014 GLK250 Bluetec, 2000 CLK320 Cabrio
Most of the auctions you posted are for the pre-2019 version which this forum does not apply to. That being said, the first one went over MSRP, but I was very surprised about the blue 2024. Quite a change in the market from 2021 LOL
#5
Looking at that first one, it was bid to $231k. Plus 5% for BAT means the selling price is $240k+. Strong.
What I think is happening is someone is setting the reserve way high, usually dealers do this so that when they offer you one at $220 it seems cheap.
Would not say the market has turned. 0-25k over has been the way for a while now.
What I think is happening is someone is setting the reserve way high, usually dealers do this so that when they offer you one at $220 it seems cheap.
Would not say the market has turned. 0-25k over has been the way for a while now.
#7
hmmm....
AMG isn't going anywhere, but not many changes to the '25 aside from MBUX AFAIK.
keep in mind, most G buyers are not looking for the latest thing.
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dcarrer0 (04-28-2024)
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#8
Regression Economics
I would say that the principle of "Regression Economics" somewhat applies.
A good analogy is when $1M homes (W463) decrease in price to $800K for economic reasons (supply / demand, higher interest rates, poor economy etc.), it causes $2M homes (W463A) to decrease in price.
The newly priced $800K home becomes a better value vis-à-vis the $2M home causing the $2M home to adjust its price downward to provide equal or better value in the market place.
The W463 is somewhat different than the W463A, like the $1M home is somewhat different than the $2M home, but they are both in the same marketplace.
I suppose we'll see if this plays out over time.
A good analogy is when $1M homes (W463) decrease in price to $800K for economic reasons (supply / demand, higher interest rates, poor economy etc.), it causes $2M homes (W463A) to decrease in price.
The newly priced $800K home becomes a better value vis-à-vis the $2M home causing the $2M home to adjust its price downward to provide equal or better value in the market place.
The W463 is somewhat different than the W463A, like the $1M home is somewhat different than the $2M home, but they are both in the same marketplace.
I suppose we'll see if this plays out over time.
#9
I would say that the principle of "Regression Economics" somewhat applies.
A good analogy is when $1M homes (W463) decrease in price to $800K for economic reasons (supply / demand, higher interest rates, poor economy etc.), it causes $2M homes (W463A) to decrease in price.
The newly priced $800K home becomes a better value vis-à-vis the $2M home causing the $2M home to adjust its price downward to provide equal or better value in the market place.
The W463 is somewhat different than the W463A, like the $1M home is somewhat different than the $2M home, but they are both in the same marketplace.
I suppose we'll see if this plays out over time.
A good analogy is when $1M homes (W463) decrease in price to $800K for economic reasons (supply / demand, higher interest rates, poor economy etc.), it causes $2M homes (W463A) to decrease in price.
The newly priced $800K home becomes a better value vis-à-vis the $2M home causing the $2M home to adjust its price downward to provide equal or better value in the market place.
The W463 is somewhat different than the W463A, like the $1M home is somewhat different than the $2M home, but they are both in the same marketplace.
I suppose we'll see if this plays out over time.
#10
I see your analogy but a home is a home. Cars from different generations are different. Somebody shopping for a new Range Rover won't want a 2021 model.
W463 and W463A are similar but not the same--somebody shopping for a W463A does not want a W463 and somebody shopping for a W463 either wants the old school feel (and thus does not want a W463A) or can't afford the new generation (just stating facts -- there's cars I want but can't afford either so not putting anybody down).
W463 and W463A are similar but not the same--somebody shopping for a W463A does not want a W463 and somebody shopping for a W463 either wants the old school feel (and thus does not want a W463A) or can't afford the new generation (just stating facts -- there's cars I want but can't afford either so not putting anybody down).
#11
Irrational Market
Good / interesting data point that I didn't know.
If so, then free market forces may be distorted, keeping the price elevated based on a restricted supply.
Reminds me of when I walked into a Patek Philippe corporate boutique store in Paris to purchase a Nautilus.
They politely held back their laughter while informing me there was a twelve year waiting list.
Of course any rational entity would want to maximize profits by increasing sales so maybe Mercedes will expand the factory's capacity.
#12
MBWorld Fanatic!
iTrader: (1)
Joined: Dec 2019
Posts: 2,172
Likes: 463
From: Marineland FL
'25 EQG deposit, '23 MC20 Cielo, '20 Fat Boy
I thought they made way more than 25k Gs in a year but I guess not: https://www.goodcarbadcar.net/mercedes-benz-g-class-sales-figures/
https://www.motor1.com/news/559262/mercedes-g-class-sales-record-2021/
https://www.motor1.com/news/559262/mercedes-g-class-sales-record-2021/
#13
MBWorld Fanatic!
Joined: Apr 2023
Posts: 1,234
Likes: 451
From: Occupied Palestine
2023 EQE 500 SUV electric and 2024 Jaguar F-PACE SVR 5.0L
Used luxury vehicles and SUVs in particular have dropped in value almost as much as EVs, according to Carfax anyways. Makes me think maybe now's not the best time to buy that new EQG or G EV or G with EQ technology or whatever they're calling it. But hey, I'm sure those MB executives know what they're doing.. that's why they get paid the big bucks.
#14
Used luxury vehicles and SUVs in particular have dropped in value almost as much as EVs, according to Carfax anyways. Makes me think maybe now's not the best time to buy that new EQG or G EV or G with EQ technology or whatever they're calling it. But hey, I'm sure those MB executives know what they're doing.. that's why they get paid the big bucks.
Last edited by haa; 04-30-2024 at 12:08 AM.
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places (05-07-2024)
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ddatin (05-07-2024)
#16
Sixteen (16) W463A G Wagons available at Penske Automall Scottsdale
A friend of mine in Arizona was at the Penske Automall, which is a bunch of brands at one location, essentially a single mega-dealership.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
Last edited by ddatin; 05-07-2024 at 11:47 PM.
#17
Super Member
Joined: Nov 2005
Posts: 839
Likes: 71
'19 G63 Ed 1,'18 M5, '16 G63,'12 458 , '11 E63, Brabus SL55-K8, '10 S63, '94 E500 "Wolf", '91 560SEC
A 5 year old G63 (2019) depreciating like an average car should be selling for 50% of MSRP ($85,000). The fact that 2019s are selling for close to original MSRP is a testament to the offer/demand imbalance for this car. Fortunately the factory in Graz cannot crank out more than 25,000 units per year thus guaranteeing the ultra low depreciation curve for these cars (new and used) for the foreseeable future.
#18
Super Member
Joined: Apr 2003
Posts: 917
Likes: 254
From: Northeast
2012 S350 Bluetec, 2014 GLK250 Bluetec, 2000 CLK320 Cabrio
A friend of mine in Arizona was at the Penske Automall, which is a bunch of brands at one location, essentially a single mega-dealership.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
https://www.mbofnorthscottsdale.com/...c6bj2rx500452/
#19
A friend of mine in Arizona was at the Penske Automall, which is a bunch of brands at one location, essentially a single mega-dealership.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
He let me know that there were two new, unsold, G Wagons on the MB showroom floor and five more preowned on their lot.
Upon walking the store lots of the other brands, he saw "a bunch more" G Wagons for sale.
I checked online and found a total of sixteen available at this one mega-dealership.
Mercedes Store - Four new: https://www.mbofnorthscottsdale.com/...icles/g-class/
Five pre-owned: https://www.mbofnorthscottsdale.com/...%2520Pre-Owned
Lamborghini Store - Four pre-owned: https://www.lamborghininorthscottsda...s&_bodystyle=5
Land Rover store - One pre-owned: https://www.landrovernorthscottsdale...c6bj2nx454518/
Porsche store - Two pre-owned: https://www.porschenorthscottsdale.c...ndTrim=G-Class
Maybe people are waiting for the 2025s or the market has turned.
These are my local dealers and have been watching the two Arabian Gray at Porsche and Land Rover and the G63 at Lambo...the prices are steadily dropping. This seems more like stagflation where people are not buying believing prices will be lower in the future. The market is definitely shifting.
#20
MBWorld Fanatic!
Joined: Apr 2023
Posts: 1,234
Likes: 451
From: Occupied Palestine
2023 EQE 500 SUV electric and 2024 Jaguar F-PACE SVR 5.0L
Interest rates won't be coming down anytime soon that's for sure! Saw a video where Carmax was getting 18% for "fair" credit and absolutely robbing poor people of 24% if their credit was "challenged". I think I'd probably keep driving the old clunker at those rates (but luckily I don't have to).
#21
Another "No Sale"
2024 AMG G63 - 410 Miles - $201K MSRP - Bid to $184K - No Sale
https://bringatrailer.com/listing/20...s-amg-g63-2-2/
The W463s are still selling though.
https://bringatrailer.com/listing/20...s-amg-g63-2-2/
The W463s are still selling though.
#22
Super Member
Joined: Nov 2005
Posts: 839
Likes: 71
'19 G63 Ed 1,'18 M5, '16 G63,'12 458 , '11 E63, Brabus SL55-K8, '10 S63, '94 E500 "Wolf", '91 560SEC
2024 AMG G63 - 410 Miles - $201K MSRP - Bid to $184K - No Sale
https://bringatrailer.com/listing/20...s-amg-g63-2-2/
The W463s are still selling though.
https://bringatrailer.com/listing/20...s-amg-g63-2-2/
The W463s are still selling though.
#24
Junior Member
Joined: May 2024
Posts: 50
Likes: 19
From: Beverly Hills
AMG G63 (2024), Ferrari Roma (2023), Alfa Romeo 4C Spider (2020)
I just picked up my G63 this past week. The dealer told me that they always anticipate April/May annually to be slow, but they still won't budge on the markup. They attribute it to April being tax season and folks are barely coming out of it now before committing to large purchases. I checked with my accountant and he told me exactly the same thing - folks typically do not make large purchases during or right after tax season until all the dust has settled on the micro front.
#25
Mercedes-Benz of Beaverton (OR) has five G63s that have been sitting on their lot for quite some time now, could it just be a dealer hard on markups? Or is it really a market shift on modern G-Klasses in the US?