Thursday, December 16, 2010

Year in Review

It’s been an interesting year. The good news is that the scary price slide seems to have stopped. We’re in a recovery period, certainly. We use average depreciation as a barometer on the roughly 100 models we track in this report.

For example, if you compare the average monthly depreciation across all tracked models from this year (0.44%) to 2009 (0.81%) and 2008 (2.1%), you can see that the trend is moving in the right direction.

Over the last 4 weeks (the time between the last market report and this one), luxury prices on 16 of the 96 covered vehicles fell. The other 80 vehicles saw no statistically significant drop. Overall, average depreciation across all models was 0.77%.

Again, the majority of the vehicles stayed flat (83% had statistically insignificant changes). The 17% that did fall, however, fell over 4%. (This is about the same as October.)

Compared with last month, overall average depreciation across ALL models is lower. Last month, overall average depreciation was 1.0% vs. 0.77%.

Just like last month, we don’t interpret any of the depreciation numbers as ominous. In fact, given what we’ve all witnessed over the last 2 years, we’re feeling more and more optimistic.

Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Average numbers are a helpful trend, but absolutely no substitute for careful research. Which is, after all, why you’re reading this report.

Also, even though this report is a great research tool, our strong suggestion is that you use the iLUXCARS System for accurate, up-to-the-minute research on every single deal.

Remember, iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete and guaranteed.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing for over 5 years. So, if you’re not already using us to value every single trade, this is a great time to start.

Like we keep saying, Faster. Safer. Better.

Happy new year.

Saturday, November 20, 2010

Fall Back

If you’re like most of us, you enjoy that rare day of the year when daylight savings time affords you an extra hour of sleep – “Fall Back” is great for those of you deep into a sleep deficit due to a frantic work schedule.

Unfortunately, over the last 6 weeks (the time between the last market report and this one), we’ve seen luxury prices on many of the vehicles covered in this report do their own Falling Back. Overall, average depreciation is only 1.0%. However, several models fell significantly over the last 6 weeks.

The majority of the vehicles stayed flat (70% had statistically insignificant changes). The 30% that did fall, however, fell over 4%.

Compared with last month, overall average depreciation across ALL models is lower, but the models that did drop were notable. Last month, overall average depreciation was 1.93% vs. 1.0%.

The largest movers were Bentley (7.19%), Maserati (6.97%), Lamborghini (5.78%), and Ferrari (3.48%).
Just like last month, we don’t interpret the depreciation number as anything ominous. It’s higher than the previous several months, but certainly not out of line with what we have seen over the last several years.

When you factor in the extra 2 weeks and the average overall numbers, the outliers aren’t alarming.

Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Like we said last month, it’s normal for prices to go down. Flat values are unusual. Which is, after all, why you’re reading this report.

Of course, iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete.

Technology working for you. Even when all you have is your mobile phone.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Helping you make more deals. One commitment at a time.

Faster. Safer. Better.

Wednesday, October 6, 2010

iLuxMobile

If you’ve been a member for a while, you already know that iLUXCARS is the largest online network dedicated to helping professional luxury and exotic dealers make more deals. We’re happy to announce that starting today, you can have the power of iLUXCARS delivered directly to your phone.

Give it a try. To get there, just point your mobile web browser to www.iluxcars.com. We’ve tested it on the iPhone, Android, and Blackberry. You can do most of the things you can in the full application, including starting your deal.

As always, we love to hear from you, so if you have any suggestions or problems please let us know.
Prices this month have not stayed flat. Overall average depreciation across all models is the largest it has been in several months (1.93%).

The largest movers were Bentley (3.36%), Aston Martin (4.21%), Mercedes (3.6%), and Ford GT (6.79%).
We dropped the Carrera models from the report this month. We felt that these cars were under-represented in our monthly sample. We also added two models, Ferrari 458 and Lamborghini Balboni.

Just like last month, we don’t interpret the depreciation number as anything ominous. It’s higher than the previous several months, but certainly not out of line with what we have seen over the last several years.


Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Like we said last month, it’s normal for prices to go down. Flat values are unusual. Which is, after all, why you’re reading this report.

Of course, iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete.

Technology working for you. Even when all you have is your mobile phone.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Helping you make more deals. One commitment at a time.

Faster. Safer. Better.

Tuesday, September 7, 2010

Next To Normal

The last few months in the luxury car market have been very unusual. Why? Prices have more or less stayed completely flat. This is, of course, extremely good news if you were around during the fourth quarter of 2008.

Prices this month have not stayed flat. Overall average depreciation across all models is less than one percent (0.71%). While this does represent a real change from the last several months, it’s more or less normal depreciation.

Most models held close to prices from last month. The exceptions were Bentley (Brooklands, GT Speed), Porsche (GT2, GT3/GT3 RS), Ferrari (360, Scuderia), and Mercedes (SL65 Black Series, CL65, CL63). Together, these models dropped almost 5% over the last month.

The good news is that 80% of models that we track (out of the 103 currently tracked) didn’t change at all. This means two things: one, most prices haven’t changed in any statistically significant way, and two, nothing is in free fall.

Some of the models that dropped are understandable. For example, the drop in the GT2, GT3, and GT3 RS is typical for this time of year. We don’t interpret this as anything ominous. The drop on Scuderias is probably the most interesting (just under 5%), mainly due to the fact that this is the second straight month for that sort of drop for the Scuderia.

Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Like we said last month, it’s normal for prices to go down. Flat values are unusual. Which is, after all, why you’re reading this report.

Of course, iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete.

Technology working for you.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Helping you make more deals. One commitment at a time.

Faster. Safer. Better.

Monday, August 16, 2010

Back To School

As the saying goes, “everyone has an opinion.” At iLUXCARS, we’re are certainly no exception. However, this report is NOT based even one little bit on a single opinion. This report is 100% fact. We’re the messenger.

We’ve been at the iLUXCARS message and system for over 5 years. This report is the 24th issue of the iLUXCARS Market Report. Over these many years and many reports we’ve developed some very strong opinions, but never about the numbers in this report.

This month we’re continuing a very positive trend: we’re BARELY changing prices.

Just to emphasize this – our analysis of prices last month, and the month before could not find any real statistical differences between them. This month, prices overall were slightly lower, but only slightly.

At iLUXCARS, we have two very strong opinions: First, helping you make more deals is good for our business. Second, there is no place for our opinion when it comes to the Market Report – we just report the numbers.

Our core value to your business is simple: when you’re educated, you make better decisions. For example, if you had held onto some trades a bit longer than you like over the last 3 months, you’re probably not that far off where you started. Prices have been so flat, even though you normally wouldn’t want to keep your trades for 90+ days, these last 90 days have been survivable.

However, and this is NOT an opinion, the current pricing trend, even though we dropped prices a bit this report, is not going to continue. Which is, after all, why you’re reading this report.

Of course, iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete.

Technology working for you.

Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Help you make more deals. One commitment at a time. Faster. Safer. Better.

Wednesday, July 7, 2010

More Good News

This month we’re continuing a very positive trend: we’re not changing any prices. If you’ve survived the last few years in our business then this is about the best thing you could hope for.

Just to emphasize this – our analysis of prices this month could not find any statistical differences between this month and last month.

At iLUXCARS, our entire business is 100% focused on exactly one thing: help you make more deals. That’s it. We don’t have a showroom, a service department, or an advertising budget. We do exactly one thing – buy and sell trades.

Our value to you is simple – we’re there to start your deal. Because in order to close your deal you first have to start your deal. And a good start almost always involves putting the right number on a trade.

Ask yourself this: When you have a real, live customer in your dealership waiting for you to give them a number on their trade, how long can you afford to make them wait?

We think the answer to that is easy: 5 minutes. Make your customer wait any longer than that and you are in serious danger of losing the deal. Permanently.

Here’s our suggestion: as SOON as you have the details on the trade PUT IT IN THE SYSTEM.
Remember, you’ve got 5 minutes.

Also, after you’ve made your deal (with our help, we hope), the true value of iLUXCARS really shines.
iLUXCARS is much, much more than a way to value your trades – iLUXCARS is a complete solution; from the time your customer walks into your dealership, through getting paid and the car off your lot fast.

Complete. Technology working for you.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Help you make more deals. One commitment at a time. Faster. Safer. Better.

Sunday, June 6, 2010

Waiting Room

At iLUXCARS, our entire business is 100% focused on exactly one thing: help you make more deals. That’s it. We don’t have a showroom, a service department, or an advertising budget. We do exactly one thing – buy and sell trades.

Our value to you is simple – we’re there to start your deal. Because in order to close your deal you first have to start your deal. And a good start almost always involves putting the right number on a trade.

Ask yourself this: When you have a real, live customer in your dealership waiting for you to give them a number on their trade, how long can you afford to make them wait?
We think the answer to that is easy: 5 minutes. Make your customer wait any longer than that and you are in serious danger of losing the deal. Permanently.

Here’s our suggestion: as SOON as you have the details on the trade PUT IT IN THE SYSTEM.

Remember, you’ve got 5 minutes.

Here’s the good news: last month (April, 2010) we introduced an important change to the system. The idea is to give you a guaranteed, check writing, starting bid, fast – 5 minutes or less – designed to help you get a commitment from your customer.

We all know that people are better buyers than bidders. Most of the time, your car will do more money once you know the number it takes to make your deal. It takes a commitment to sell a car.

For sellers, this is the most important step to help us get you top dollar for your trade. For buyers, we don’t want to waste your time on cars that can’t be bought.

The way we see it - you’ve only got 5 minutes.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Help you make more deals. One commitment at a time. Faster. Safer. Better.

Tuesday, May 11, 2010

Improving the Process

For almost 5 years, the mission of iLUXCARS has remained constant – help you make more deals.

This month we’re introducing an important change to the system. The idea is to give you a guaranteed, check writing, starting bid, fast – 5 minutes or less – designed to help you get a commitment from your customer.

We all know that people are better buyers than bidders. Most of the time, your car will do more money once you know the number it takes to make your deal. It takes a commitment to sell a car.

For sellers, this is the most important step to help us get you top dollar for your trade. For buyers, we don’t want to waste your time on cars that can’t be bought.

It works like this:
  1. Click “Enter a Car”
  2. Select the appropriate option (Start a Deal or Sell a Car)
  3. Enter the vehicle and click submit.
  4. In 5 minutes or less you’ll receive a check writing number via email.
  5. Take the number to your customer and get a commitment.
  6. Convert the vehicle to a Live Trade (Click “Open Bidding” in the “iLuxCars Offer” list), enter the committed number, and open the car to the entire network.
  7. You can accept the deal any time after you convert.
Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Help you make more deals. One commitment at a time. 

Faster. Safer. Better.

Monday, April 12, 2010

New, New Things

The April, 2010 market report has been updated. You can login to read it now.

The report has several important changes. First, there are 13 new models that we previously didn’t track.

The new models include Ferrari (California and the 16M), Aston Martin (DBS Convertible), Lamborghini (LP670 SuperVeloce, Gallardo Superleggera, and the LP560 Roadster), Mercedes (SL65 Black Series and the CLK63 Black Series), Porsche (Panamera S, 4S, and Turbo), and Bentley (Flying Spur Speed).

The other major change is that we are now tracking 2010 prices on models where we have statistically significant data. We stopped publishing prices for 2003 models, mainly for space reasons.

Of course, iLUXCARS will still give you a check writing number on 2003 vehicles, we just aren’t including them in the report.
These new, new things bring our report to a total of 100 luxury and super luxury models with substantial wholesale price data being tracked and calculated on a monthly basis. All of this data is, of course, free to iLUXCARS customers.

This month’s report, posted on April 7th, has prices through March 31st, 2010. 

Average overall depreciation for the month was actually negative (for only the second time in the history of this report). This means that prices actually went up between early February and early April, in some cases, prices went up substantially.

Because this is as rare as a black swan, let’s repeat: prices on several models went UP between Feb 18th and April 7th. Really. Bright green shoots of recovery, if you ask us.

Of course, this is another great reason to continue to use iLUXCARS. The real value in the iLUXCARS Platform is that it dramatically reduces your risk. If you aren’t putting every trade into the system immediately then you are living very dangerously.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Like we keep saying – Faster. Safer. Better.

Friday, February 19, 2010

Fresh Powder

Between the remodel of our corporate headquarters and all of the trade activity this month, we fell a little behind with the Market Report. We know, this is becoming a habit.

We also know that there has been some confusion over the fact that we’re now naming the market report for the previous month’s numbers. Last month’s report, released on January 4th, was the December market report. This month’s report is the January report. 

Like we said last month, we’re starting to see activity levels on the system rise. The number of new dealers signing up is very high, almost matching our peaks in 2007 and early 2008. 

January prices overall were very steady. The only noticeable dips were isolated to 4 makes: Bentley, Ferrari, Mercedes, and Rolls. Mercedes and Bentley were something of an anomaly – we saw CL65 numbers down $10,000 in a single month. For Bentley, both the Fixed Head and Drop Head were down, Fixed Heads by over 5%. 

Overall depreciation for the month was a modest 0.5% on average – basically flat.

Remember that in June of 2009, for the first time in the history of this report (19 months now), prices actually went UP. 

If you’ve been reading this report for the last 19 months (and who hasn’t) the one thing you’ll notice is that every month is a little different. For example, there are some months–December–where you really didn’t want to own a 612. This month, you’ll probably want to sell that CL65 you took in last month.

Of course, this is another great reason to continue use iLUXCARS. The real value in the iLUXCARS Platform is that it dramatically reduces your risk. If you aren’t putting every trade into the system immediately then you are living very dangerously.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today. 

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years.

Like we keep saying – Faster. Safer. Better.

Thursday, January 7, 2010

A Recovery Year

It was, to say the least, a very interesting year. The iLUXCARS System saw over $600 million worth of luxury vehicles. We can safely say that this year was a better year than 2008.

With a few exceptions, average depreciation was manageable. In many cases, values actually improved. These were not things we could say about 2008. We’ve breathed a collective sigh of relief.

Like we said last month, we’re starting to see activity levels on the system rise. The number of new dealers signing up is very high, almost matching our peaks in 2007 and early 2008.

December prices dropped a bit more than average for the year – about 2% overall for the month. The bulk of this is across the following models: Ferrari, Lamborghini, Aston, Mercedes, and Rolls. Lamborghini dropped by almost 4% on average, Ferrari 3.3%, Mercedes 3%, Aston Martin 2.2%, and Rolls Royce 1.75%.

Remember that from June through November prices were more or less flat. We’re nearly, dare we say, optimistic.

Also remember that in June, for the first time in the history of this report (18 months now), prices actually went UP.

We want to point out that in our opinion, December’s price drops are in line with our expectations and we don’t expect for the bottom to drop out again. Basically we’re saying don’t worry. If you take the last 3 months together, the average depreciation was a comfortable 1%.

Of course, if the car you own today happens to be a 612 or a GT2, you may be borderline underwater. Which is another (great) reason to continue to use iLUXCARS.

Remember, iLUXCARS gathers the data and publishes this report directly from the iLUXCARS System. In other words, this is not our opinion. The Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

Our goal is simple and consistent – help you make more deals. Something we’ve been doing consistently well, according to our users, for over 5 years, even through our first year of recovery.

By the way, happy new year. Faster. Safer. Better.