Local dealer has an S8 available. They are asking $67k but I thought these would be closer to $55k.

What are everyone's thoughts? Everything I'm reading sounds like great comfort with copious amounts of torque and hp, and it looks outstanding.

Is that price realistic or should they be willing to come down?

 

You should check the insurance quote also.

All Al car is quite expensive to insure, especially this one.

 

Miles and options? Assuming reasonable miles and decent kit, I'd say more like low $60K range . . .

 

Offer them $57K and see what they say?

 

Here is the Manheim report of recent wholesale auctions;


08/26/09 CEN FLA Lease $55,200 25,417 Avg QUARTZ G 10G P Yes
08/25/09 OHIO Lease $58,600 29,427 Avg GRAY 10G A Yes
08/06/09 LAFAYTTE Regular $55,000 31,744 Avg Black 10C A Yes
07/30/09 RIVRSIDE Lease $63,500 10,686 Avg GRAY 10G A Yes
07/29/09 CEN FLA Lease $66,200 1,013 Above PHANTOM 10G A Yes
07/02/09 RIVRSIDE Regular $50,500 39,609 Avg GRAY 10G A Yes
07/02/09 RIVRSIDE Lease $44,000 46,714 Below DAYTONA 10G A Yes

 

Based on the above, $67 is way too high, unless it has less than 5k miles.

 

E,

I think the dealer probably is in the car mid-high $50K range. The $67K price probably represents about $10-12K in profit margin. Considering those auction numbers are wholesale (i.e. not readily accessible to all buyers), they aren't exactly realistic examples of the actual market for this car. If I really liked the car, I'd pay ~$62K or so, but throw a number like $59K at them up front.

Although I worked directly under the used car manager at BMW for two years, my understanding of their pricing strategy is still rudimentary. What do you think?

 

^I agree. The Manheim reports are good to see what dealers are paying. A certain amount profit should be in there for the dealer. It is good to find a local auto broker that will pick up a car for you at auction for a flat fee. I know of one in the Los Angeles area that will do it for a $500 to $1,000 fee, depending on the price of the car.

 

Not many of those out there, best DD IMHO PERIOD.

 

Why do cars end up in auction, such as Manheim?