Wednesday, November 23, 2011

Quarterly Report

First, we apologize for the fact that our monthly report has become a quarterly report. This was not, we assure you, our original intention. Our plan going forward is to never start another note to our network members with “we’re a little behind on the market report.” The first thing you’ll notice is that this report has a slightly different format and covers significantly more data. We’ve expanded coverage from model years 2000 – 2012 (Note that some vehicles do not have data for all model years). You’ll also notice several new luxury and exotic models that we are covering. We’re up to 162 vehicles covered in the report across 12 model years. Our plan is to add several more over the next few months. While we aren’t making excuses, it is interesting to note that over the past 3 months, prices on average across all luxury and exotic models covered in this report have remained largely flat. We continue to strongly suggest that using the iLUXCARS system on every vehicle to establish a up-to-the-minute market value for your vehicle is still the best practice. Among the new vehicles are Bugatti, Fisker, Koenigsegg, Pagani, and Tesla. We will continue covering these models over the coming months. We’ve also added coverage for a few BMW, Audi, Mercedes Benz and Lamborghini. Why expand now? Simple, really, we’re growing. The iLUXCARS Network is in its 6th successful year. This market report is over 3 years running. It remains the single wholesale pricing authority on late-model luxury and exotic vehicles. Our commitment continues to be providing our members with accurate, actionable information gathered from live transaction data and experience. 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. We’re the only complete and guaranteed solution to real-time management of your luxury and exotic trades. 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.

Friday, April 29, 2011

April and May

This month's Market Report is the combination of both the April and May Market Report. The actual pricing numbers represent a period of about 6 weeks overall. Both March and April numbers are included but are identical.

The Market Report relies on the data from live transactions that take place within the iLUXCARS network through the iLUXCARS System. In most cases, prices can be established using standard statistical methods and iLUXCARS established pricing algorithms, but sometimes we look at individual deals to make sure that the transaction is a representative transaction.

We do all of this to ensure that the prices in the report are much more than simply accurate, we want to be certain that this report is essential. While we make the report available to iLUXCARS Network members, we understand that both the distribution and the influence of the iLUXCARS Market report is much more widespread.

The important point of all of this is for you to understand that the reason we have published this report for the last 3 years is to help our Network members do one very important thing: make more deals.

The iLUXCARS Network continues to expand its membership. We've added iPhone and Andriod support that more of you are taking advantage of every day. A surprising number of our members took advantage of last month's iPad promotion (if you haven't received your iPad yet please be patient, we're working getting them all shipped out).

For the most part, prices this month continue the comforting trend of not doing anything. We did see some fairly large drops in 2 Bentley models and the Maserati Quattroporte Automatics.

In both cases we believe that these shifts represent reasonable adjustments in current market conditions and we don't expect large changes to happen over the next several months.

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.

Friday, March 18, 2011

The iLux iPad Promotion

This month, along with the slightly late March Market Report, we're officially launching our first ever iLUXCARS Promotion. We're calling it the iLUX iPad.

As usual, it's simple – Sell a Car, get an iPad 2! No contest, no raffle, and no competition.

The iLux iPad.

Works like this:

  • List and sell at least one car valued at $50,000 or more on iLUXCARS
  • Complete the transaction (deal accepted) by Monday, April 4th 2011

You can submit as many cars as you want. Our strong suggestion is that you use the iLUXCARS System for accurate, up-to-the-minute research on every single deal. Make sure you describe the vehicles accurately, poorly described vehicles do not typically sell.

The offer is limited to one iPad 2 (16GB with Wi-Fi + 3G) per account on iLUXCARS. Promotion not valid for cars already listed on the network as of Wednesday, March 16, 2011.

We're a little late with the Market Report this month. (We were all wrapped up dealing with your new iPads). Prices were calculated on March 17th, so depreciation changes are over the last 6 weeks (vs. 4 weeks).

The good news is that some of the vehicles tracked by the Market Report went up over the last 6 weeks. For the most part, those vehicles that didn't move up stayed completely flat, another bit of good news.

Overall, prices shifted in a positive direction. (Aston Martin had a particularly strong month.)
Remember, the Market Report prices, while intended ONLY as a guideline, do represent the real money on these vehicles today.

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.

Tuesday, January 18, 2011

Technology Advantage

Until iLUXCARS, establishing a legitimate value for a luxury trade was largely guesswork. Cross your fingers and hope your customer was flexible. The typical process involved a call to a friendly (and sometimes competitive) dealership and ask for their opinion.

iLUXCARS changed the entire model. Because of the advantage of our technology, you can get much, much better than an opinion about what your luxury trade is worth – you get a check writing number.

The even bigger advantage – you get your check writing number from the largest network of professional luxury buyers anywhere.

This month, with the exception of a few vehicles, prices were completely flat. We saw prices drop substantially on Mercedes Benz S63 and Porsche Panamera (12%).
We also saw drops in 9 other models – Ferrari, Bentley, and Aston Martin.

Compared with last month, overall average depreciation across ALL models is lower. Last month, overall average depreciation was 0.58% 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.

Advantage: Technology. Faster. Safer. Better.