Quote:
Originally Posted by Cincinnatus
Overpriced? Perhaps not.
You can't reasonably compare wholesale price to retail. Most buyers don't have access to trade sources (Manheim). The 2013 M6 has a market price of mid- to upper-30's because that's what the market will bear, understandably with adjustments to that price for mileage, condition and options. If you factor that adjustment at roughly $300 per 1000 miles ($.30c per mile) the difference can be significantly more or less - 10k miles on the clock an swing the price $3000 either way.
The 2014 models are now where the 2013's were about this time last year, but the 13's have firmed up on price. I think you'll find depreciation will be decelerating as the price of the 8'er - especially the M8 becomes known and the M6 becomes an attractive, and by comparison affordable, alternative. Or so I hope. :-)
I also disagree with your observation that options don't matter. They most certainly do, especially for the kind of buyer looking for a car like this. Yes, the impact on price with regard to options isn't as significant as condition or price. But for someone who wants, say, the B&O system in the car, it's a deal-breaker for some sellers, an opportunity to command a higher selling price for others so equipped.
The difference in perception between whether or not an item is 'overpriced' or not is if you're the seller, or the buyer. But if I have what you want, and there's a dwindling supply of them, better to acquiesce and get it sooner, rather than later. Remember, there were only 2093 M6 Coupes shipped to North America for the entire production run.
Time will tell.
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Wholesale prices are absolutely relevant. Retail prices are based on wholesale prices. In general, retail prices are 10 to 20% over wholesale prices depending on the car, condition, Market, Etc. I don't agree with you that wholesale prices are irrelevant.
In a buyer's market, options do not play as big of a role in price fluctuation. They do play a role in make or break deals though. Obviously if a car is optioned out and has an MSRP of 20,000 more, of course the used car price will be adjusted higher. But in a car that's already dropped 70%, that same car would only be worth about three thousand more.