Auction Info on E63
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02-11-2009, 01:59 PM
#8
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A4, M3, 996, E55
Having access to Manheim info is great but it needs to be really evaluated. The cars going through these sales are the ones that were not wanted by the MB dealers to go through the CPO process and sit on their lots. That's not to say they're all junk either, but the condition of Manheim "specialty" cars like the E55/63 is going to be just average.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
02-11-2009, 02:09 PM
#9
MBWorld Fanatic!
Having access to Manheim info is great but it needs to be really evaluated. The cars going through these sales are the ones that were not wanted by the MB dealers to go through the CPO process and sit on their lots. That's not to say they're all junk either, but the condition of Manheim "specialty" cars like the E55/63 is going to be just average.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
02-11-2009, 02:16 PM
#10
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14-F Sport, 07-CLS63 2003-HUMMER 2004-Suburban 2008-MAX 2005-YZF R1
Don't forget the econmy has alot to do with these price drops too. When I was looking for my CLS63 2yrs ago I could get to Manheim fast enough...lol they were selling and fast, Now you can go up there and bid and win. Ofcouse you need a dealer/wholesale license, which is not hard to get!!!! 
02-11-2009, 02:19 PM
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BMW 540i
There does appear to be a huge difference in price between CPO cars from MB dealers and auction prices. For example, an '07 with 23K miles is listed at $57K at a nearby dealer. Another '07 with 15K is listed at $59K. The average auction price is $45K for a 24K mile vehicle. So roughly $12K difference between auction price and CPO dealer price. You can probably beat the dealer up for a couple grand and get the difference down, but is it worth $10K? Don't forget, these auction cars still have a couple of years of original warranty left on them. And you might have to put $2K of tires and brakes into them.
The cars on the dealer lots are not moving. I run a CPO search every couple of days and sort for E class AMG's within 200 miles of my zip. The same 11 cars have shown up for the last month. I suspect that since dealer inventories aren't moving, many off lease and trade-in vehicles are going straight to auction rather than getting "cherry picked" by the dealers to CPO. So there could be some decent quality cars going to auction. The dealers simply can't afford to put more inventory on their lots. However, I have seen a couple of instances where dealers have bought cars at auction and CPO'd them - so essentially the only difference between the auction car and the CPO car is a little touch up and and extra year of warranty.
I'd really like to see dealers get more realistic with their pricing. I've made offers to dealers on CPO cars that split the difference between auction price and their asking price (which is fair in this market/economy) and have been countered with offers of "maybe I can come down a couple hundred dollars". Thankfully, I am not in a rush and can wait for the right car to come along.
The cars on the dealer lots are not moving. I run a CPO search every couple of days and sort for E class AMG's within 200 miles of my zip. The same 11 cars have shown up for the last month. I suspect that since dealer inventories aren't moving, many off lease and trade-in vehicles are going straight to auction rather than getting "cherry picked" by the dealers to CPO. So there could be some decent quality cars going to auction. The dealers simply can't afford to put more inventory on their lots. However, I have seen a couple of instances where dealers have bought cars at auction and CPO'd them - so essentially the only difference between the auction car and the CPO car is a little touch up and and extra year of warranty.
I'd really like to see dealers get more realistic with their pricing. I've made offers to dealers on CPO cars that split the difference between auction price and their asking price (which is fair in this market/economy) and have been countered with offers of "maybe I can come down a couple hundred dollars". Thankfully, I am not in a rush and can wait for the right car to come along.
02-11-2009, 02:36 PM
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A4, M3, 996, E55
All valid points above.
Add in the $1k for auction fees and transportation and there's another 1K off your price difference. (now $9K.)
Then figure in the "cost" of CPO. I realize this is all debatable but lets say $2500 for the extra year of coverage and most likely a new set or brakes or whatever it takes to get them to CPO status. (now $6500 gap).
So yes there's a $6500 difference in price and that's assuming you're not counting the costs to floorplan the car and have it sit there. I looked at no less than 10 manheim cars in my quest to get an E55 and all of them had some sort of paint work even if it was minor. One that had a condition report of 5 (out of 5) had the hood and front bumper repainted and the work wasn't bad but wasn't outstanding at the same time. I do agree however that right now the pool of cars at auction may be better than in the past. You still really have to see them all in person and inspect to make sure you're getting a nice one.
In the end the gap in price isn't as big as it seems. You're obviously still going to get a better deal if you're a dealer and you do your homework as in the end the dealers are still going to try to make their money off of each car. For alot of people (esp the Merceded buying demographic) it's not worth the time and effort and they really like the added security of owning a CPO car.
Add in the $1k for auction fees and transportation and there's another 1K off your price difference. (now $9K.)
Then figure in the "cost" of CPO. I realize this is all debatable but lets say $2500 for the extra year of coverage and most likely a new set or brakes or whatever it takes to get them to CPO status. (now $6500 gap).
So yes there's a $6500 difference in price and that's assuming you're not counting the costs to floorplan the car and have it sit there. I looked at no less than 10 manheim cars in my quest to get an E55 and all of them had some sort of paint work even if it was minor. One that had a condition report of 5 (out of 5) had the hood and front bumper repainted and the work wasn't bad but wasn't outstanding at the same time. I do agree however that right now the pool of cars at auction may be better than in the past. You still really have to see them all in person and inspect to make sure you're getting a nice one.
In the end the gap in price isn't as big as it seems. You're obviously still going to get a better deal if you're a dealer and you do your homework as in the end the dealers are still going to try to make their money off of each car. For alot of people (esp the Merceded buying demographic) it's not worth the time and effort and they really like the added security of owning a CPO car.
02-11-2009, 03:08 PM
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E63 P30, CL500 Sport
Having access to Manheim info is great but it needs to be really evaluated. The cars going through these sales are the ones that were not wanted by the MB dealers to go through the CPO process and sit on their lots. That's not to say they're all junk either, but the condition of Manheim "specialty" cars like the E55/63 is going to be just average.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
You also have to figure in that dealers are going to have to pay auction fees and transportation to their lots prior to even adding any markup to the cars. Just remember that when evaluating the numbers.
Personally, I've got access to that info too and it does nothing but ruin my perception of what a car's really worth. I have to constantly take a step back when I see private party cars and really evaluate their worth vs. what I know similar cars are going for at auction. Despite having auction access at any point in time I've purchased my last 3 "specialty" vehicles through a private party individual and paid decent money to make sure I could get the best vehicle available.
Now if I'm buying a driver there's nothing better than having auction access, for cars I care about I've learned to pass.
My friend and I recently picked up a CL55 from the auction for very cheap. But after examining the car closely at the dealership by a friend technician, we found out that the car needed a few things done. As a result, there were "extra" costs on top of the price we paid in the auction. Here is a condensed summary of some of the extra costs incurred:
- $1000 in Auction fees + Gas (we ended up driving the car back instead of shipping it)
- $1100 in service that is not covered by warranty (Service B + bunch of fluid changes/flushes + a few other things)
- Four new tires, as tires were all in the wrong size, not properly balanced, and had a bunch of un-even wear. On tire rack, a set of 4 tires of stock conti's cost $1600 (without shipping and tax).
- May need new front brakes within the next few months (don't know how much this will cost yet and don't want to know
).- Two TPMS sensors were missing and the other two were not warped. Don't know how much this will cost, but I'm guessing around $500.
Just like a dealer has to pay most of these costs to re-condition the car, one should expect to pay a few grand extra on top of the final bid to re-condition the car when buying it from the auction. This car specifically was actually in very good condition on the outside, but most AMGs I see there need touch-up paint, new rims (people put C-Class or E-Class non-AMG rims on them), different steering wheels, etc....
Last edited by MB_Forever; 02-11-2009 at 11:59 PM.
02-11-2009, 09:24 PM
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3-five-five/ TUNDRA/ 07 997 cab
What none of you seem to realize is that most of the E55s were leased through banks as opposed to MB credit. MB credit was not as agressive on specialty cars. Sooooo Manheim cars are also Bank turn ins in wich they would not be offered to dealers first,, they go straight to auction!
02-12-2009, 12:57 AM
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Mercedes
MB Forever... here are your 2005 Slr prices....
02/04/09 BAY CITI Lease $186,000 19,099 Avg BLACK 8G A No
01/20/09 DFW Lease $217,000 4,955 Avg CRL SIL 8G A No
03/20/08 MANHEIM Regular $281,000 2,792 Avg SILVER 8G A No
03/12/08 W PALM Regular $296,000 2,229 Avg BLACK 8G A No
03/12/08 W PALM Lease $232,000 24,100 Avg BLACK 8G A No
01/17/08 RIVRSIDE Regular $293,350 986 Avg BLACK 8G A No
01/17/08 RIVRSIDE Lease $287,000 967 Avg CRG BLK 8G A No
09/26/07 W PALM Lease $270,000 3,541 Avg SILVER 8G A No
08/03/07 W PALM Regular $315,000 2,177 Avg NONE 8G A No
07/19/07 RIVRSIDE Lease $290,000 9,612 Avg CRYS BLK 8G A No
06/14/07 MANHEIM Regular $291,000 254 Avg SILVER 8G No
05/31/07 MANHEIM Regular $339,000 50 Avg BLACK 8G A No
05/04/07 MANHEIM Regular $335,000 110 Avg Silver 8G S No
03/13/07 W PALM Regular $292,000 2,264 Avg BLACK 12G A No
02/14/07 W PALM Regular $316,000 1,261 Avg BLACK 8G A No
02/08/07 MANHEIM Lease $301,000 751 Avg SILVER 8G A No
02/04/09 BAY CITI Lease $186,000 19,099 Avg BLACK 8G A No
01/20/09 DFW Lease $217,000 4,955 Avg CRL SIL 8G A No
03/20/08 MANHEIM Regular $281,000 2,792 Avg SILVER 8G A No
03/12/08 W PALM Regular $296,000 2,229 Avg BLACK 8G A No
03/12/08 W PALM Lease $232,000 24,100 Avg BLACK 8G A No
01/17/08 RIVRSIDE Regular $293,350 986 Avg BLACK 8G A No
01/17/08 RIVRSIDE Lease $287,000 967 Avg CRG BLK 8G A No
09/26/07 W PALM Lease $270,000 3,541 Avg SILVER 8G A No
08/03/07 W PALM Regular $315,000 2,177 Avg NONE 8G A No
07/19/07 RIVRSIDE Lease $290,000 9,612 Avg CRYS BLK 8G A No
06/14/07 MANHEIM Regular $291,000 254 Avg SILVER 8G No
05/31/07 MANHEIM Regular $339,000 50 Avg BLACK 8G A No
05/04/07 MANHEIM Regular $335,000 110 Avg Silver 8G S No
03/13/07 W PALM Regular $292,000 2,264 Avg BLACK 12G A No
02/14/07 W PALM Regular $316,000 1,261 Avg BLACK 8G A No
02/08/07 MANHEIM Lease $301,000 751 Avg SILVER 8G A No
02-12-2009, 12:59 AM
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Mercedes
and if anyone was wondering... 2005 sl65 prices....
02/11/09 W PALM Regular $60,500 17,921 Above RED 12G A Yes
02/05/09 NEVADA Lease $57,750 20,410 Avg SILVER 12G A Yes
01/29/09 RIVRSIDE Lease $61,250 8,730 Above BRI SIL 12G A Yes
01/21/09 NASHVILL Lease $56,000 28,935 Avg GRAPH 12G A Yes
01/21/09 NASHVILL Lease $56,000 22,429 Avg BRI SIL 12G A Yes
01/06/09 RIVRSIDE Lease $56,250 28,141 Avg SILVER 12G A Yes
02/11/09 W PALM Regular $60,500 17,921 Above RED 12G A Yes
02/05/09 NEVADA Lease $57,750 20,410 Avg SILVER 12G A Yes
01/29/09 RIVRSIDE Lease $61,250 8,730 Above BRI SIL 12G A Yes
01/21/09 NASHVILL Lease $56,000 28,935 Avg GRAPH 12G A Yes
01/21/09 NASHVILL Lease $56,000 22,429 Avg BRI SIL 12G A Yes
01/06/09 RIVRSIDE Lease $56,250 28,141 Avg SILVER 12G A Yes
02-12-2009, 04:41 AM
#21
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E63 P30, CL500 Sport
MB Forever... here are your 2005 Slr prices....
02/04/09 BAY CITI Lease $186,000 19,099 Avg BLACK 8G A No
01/20/09 DFW Lease $217,000 4,955 Avg CRL SIL 8G A No
03/20/08 MANHEIM Regular $281,000 2,792 Avg SILVER 8G A No
03/12/08 W PALM Regular $296,000 2,229 Avg BLACK 8G A No
03/12/08 W PALM Lease $232,000 24,100 Avg BLACK 8G A No
01/17/08 RIVRSIDE Regular $293,350 986 Avg BLACK 8G A No
01/17/08 RIVRSIDE Lease $287,000 967 Avg CRG BLK 8G A No
09/26/07 W PALM Lease $270,000 3,541 Avg SILVER 8G A No
08/03/07 W PALM Regular $315,000 2,177 Avg NONE 8G A No
07/19/07 RIVRSIDE Lease $290,000 9,612 Avg CRYS BLK 8G A No
06/14/07 MANHEIM Regular $291,000 254 Avg SILVER 8G No
05/31/07 MANHEIM Regular $339,000 50 Avg BLACK 8G A No
05/04/07 MANHEIM Regular $335,000 110 Avg Silver 8G S No
03/13/07 W PALM Regular $292,000 2,264 Avg BLACK 12G A No
02/14/07 W PALM Regular $316,000 1,261 Avg BLACK 8G A No
02/08/07 MANHEIM Lease $301,000 751 Avg SILVER 8G A No
02/04/09 BAY CITI Lease $186,000 19,099 Avg BLACK 8G A No
01/20/09 DFW Lease $217,000 4,955 Avg CRL SIL 8G A No
03/20/08 MANHEIM Regular $281,000 2,792 Avg SILVER 8G A No
03/12/08 W PALM Regular $296,000 2,229 Avg BLACK 8G A No
03/12/08 W PALM Lease $232,000 24,100 Avg BLACK 8G A No
01/17/08 RIVRSIDE Regular $293,350 986 Avg BLACK 8G A No
01/17/08 RIVRSIDE Lease $287,000 967 Avg CRG BLK 8G A No
09/26/07 W PALM Lease $270,000 3,541 Avg SILVER 8G A No
08/03/07 W PALM Regular $315,000 2,177 Avg NONE 8G A No
07/19/07 RIVRSIDE Lease $290,000 9,612 Avg CRYS BLK 8G A No
06/14/07 MANHEIM Regular $291,000 254 Avg SILVER 8G No
05/31/07 MANHEIM Regular $339,000 50 Avg BLACK 8G A No
05/04/07 MANHEIM Regular $335,000 110 Avg Silver 8G S No
03/13/07 W PALM Regular $292,000 2,264 Avg BLACK 12G A No
02/14/07 W PALM Regular $316,000 1,261 Avg BLACK 8G A No
02/08/07 MANHEIM Lease $301,000 751 Avg SILVER 8G A No
Can you please post the prices for 2006 and 2007 SL65 as well
02-12-2009, 01:27 PM
#22
MBWorld Fanatic!
There does appear to be a huge difference in price between CPO cars from MB dealers and auction prices. For example, an '07 with 23K miles is listed at $57K at a nearby dealer. Another '07 with 15K is listed at $59K. The average auction price is $45K for a 24K mile vehicle. So roughly $12K difference between auction price and CPO dealer price. You can probably beat the dealer up for a couple grand and get the difference down, but is it worth $10K? Don't forget, these auction cars still have a couple of years of original warranty left on them. And you might have to put $2K of tires and brakes into them.
The cars on the dealer lots are not moving. I run a CPO search every couple of days and sort for E class AMG's within 200 miles of my zip. The same 11 cars have shown up for the last month. I suspect that since dealer inventories aren't moving, many off lease and trade-in vehicles are going straight to auction rather than getting "cherry picked" by the dealers to CPO. So there could be some decent quality cars going to auction. The dealers simply can't afford to put more inventory on their lots. However, I have seen a couple of instances where dealers have bought cars at auction and CPO'd them - so essentially the only difference between the auction car and the CPO car is a little touch up and and extra year of warranty.
I'd really like to see dealers get more realistic with their pricing. I've made offers to dealers on CPO cars that split the difference between auction price and their asking price (which is fair in this market/economy) and have been countered with offers of "maybe I can come down a couple hundred dollars". Thankfully, I am not in a rush and can wait for the right car to come along.
The cars on the dealer lots are not moving. I run a CPO search every couple of days and sort for E class AMG's within 200 miles of my zip. The same 11 cars have shown up for the last month. I suspect that since dealer inventories aren't moving, many off lease and trade-in vehicles are going straight to auction rather than getting "cherry picked" by the dealers to CPO. So there could be some decent quality cars going to auction. The dealers simply can't afford to put more inventory on their lots. However, I have seen a couple of instances where dealers have bought cars at auction and CPO'd them - so essentially the only difference between the auction car and the CPO car is a little touch up and and extra year of warranty.
I'd really like to see dealers get more realistic with their pricing. I've made offers to dealers on CPO cars that split the difference between auction price and their asking price (which is fair in this market/economy) and have been countered with offers of "maybe I can come down a couple hundred dollars". Thankfully, I am not in a rush and can wait for the right car to come along.
02-12-2009, 02:07 PM
#24
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BMW 540i
You need to realize the likely hood of getting a car that needs some decent body work when you buy from an auction. The cars MB sells on netstar are the cleanest cars that have no paint work, no damage, clean interiors, service histories, no defects etc. It goes beyond tires and brakes. Get a car with scuffs, curbed wheels, bad brakes, worn tires, and a torn leather seat and you get the joy of spending likely 10k in work to make that car viable. Add the 1899 fee for the first year of certified warranty and its even worse. Then the next 2 years of warranty for the cpo is 3000 bucks. Sometimes a CPO car is worth it. I have seen auction horror stories and I have seen things go just fine. If you enjoy the risk go for the cheap car!
