iLuxCars Blog

Quarterly Report

2011-11-23T10:58:00.001-08:00

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.

April and May

2011-04-29T17:49:00.000-07:00

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.

The iLux iPad Promotion

2011-03-18T17:01:00.000-07:00

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.

Technology Advantage

2011-01-18T15:18:00.000-08:00

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.

Year in Review

2010-12-16T13:44:00.000-08:00

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.

Fall Back

2010-11-20T13:41:00.000-08:00

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.

iLuxMobile

2010-10-06T21:30:00.000-07:00

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.

Next To Normal

2010-09-07T09:56:00.000-07:00

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.

Back To School

2010-08-16T17:03:00.000-07:00

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.

More Good News

2010-07-07T17:02:00.000-07:00

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.

Waiting Room

2010-06-06T16:58:00.000-07:00

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.

Improving the Process

2010-05-11T14:04:00.000-07:00

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:

Click “Enter a Car”
Select the appropriate option (Start a Deal or Sell a Car)
Enter the vehicle and click submit.
In 5 minutes or less you’ll receive a check writing number via email.
Take the number to your customer and get a commitment.
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.
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.

New, New Things

2010-04-12T18:21:00.000-07:00

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.

Fresh Powder

2010-02-19T17:47:00.000-08:00

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.

A Recovery Year

2010-01-07T16:47:00.000-08:00

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.

Two For One

2009-12-02T11:02:00.000-08:00

If you missed last month’s Market Report you certainly weren’t alone. We missed it as well. So this month’s report has numbers for both October and November. Two for the price of one.

We decided to take this opportunity to officially change the way we name the report so that November’s report (this one) will have November’s numbers.

Not to make excuses, but the truth is, we’ve been pretty busy. The number of iLUXCARS members is up slightly and their activity has increased as well.

We’re starting to see activity levels on the system return to their pre-crash levels. In general, this is reflected in the numbers.

Overall average depreciation for the last 6 months is a comfortable .25%. We actually had to re-run our calculations as we didn’t believe it. Comfortable.

What this means is that in June, July, August, September, October, and November prices are more or less flat. You may all breathe a collective sigh of relief. We’re nearly, dare we say, optimistic.

Remember that in June, for the first time in the history of this report (17 months now), prices actually went UP.

The July through August story was slightly different than June, but still a very reasonable month. Of the 87 models, 29 had a drop in value (33%). There were 3 models where prices rose, again.

In November, all of the Rolls Royce models have fallen (average of 3%). Bentley had some models drop, (Arnage, GTC, GT Speed), but nothing terrible.

The average isn’t all that meaningful, but it’s an interesting gage. While some models dropped 4% or more in a single month, the vast majority of the models we track didn’t change at all.

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.

Resiliency

2009-07-21T14:18:00.001-07:00

We realize this is becoming a bit of a habit, but we’re a little late again on this month’s report. However, this time it’s on purpose as it has been less than a month since the pricing guide numbers were recalculated.

We think you’ll be glad we waited.

First, we’ve added 6 new models to the report – Bentley GT Speed, Bentley Brooklands, Aston Martin DBS, Maserati Gran Turismo S, and Mercedes SL 63. We add new models when we’ve seen enough of them to have good data to use when calculating the report.

Second, we’ve added prices for several of the 2009 models to this month’s report. Again, we do this when there are a reasonable number of cars going through the System so that we can calculate the numbers with some degree of accuracy.

We’re also doing something that we haven’t done much since we started publishing the report – we’re raising prices on several models.

That’s right – you didn’t misread that – prices, at least for 10 of the 87 models in the report, have risen an average of 3.7%. You’ll see this in the Average Depreciation column as a negative percentage (-3.7%).

What’s more, the majority of the models in the report haven’t fallen. No change at all. Of the 87 models in the report, 64 (73%) have stayed exactly where they we’re last month. Like we said last month, this is very good news.

The iLUXCARS Network is a small, but specialized marketplace. It isn’t a complete bellwether of the overall economy, and we certainly can’t predict what’s going to happen to the overall car market. But we can say with some certainty that the luxury and exotic market is showing signs of true resiliency.

The world, at least our world, is on the road back to normal. Resiliency.

Remember, the idea of this report is to give you a general guide to the current wholesale market. If you are in the process of making a deal then you need to submit your car to the system. Every time. There is simply no reason to risk it.

Look, if you are in the luxury and exotic market then iLUXCARS should be the tool you use to manage your wholesale trades. Period.

Like we keep saying – Faster. Safer. Better.

No News

2009-06-22T11:10:00.001-07:00

We’ve just published the June Market Report and we’re very happy to report that prices, at least, haven’t moved substantially in the last 6 weeks.

So, while most of our battered industry continues to struggle, our little segment – luxury and exotic wholesale – has been thankfully quiet. This lack of bad news is, at least in our opinion, very, very good news indeed.

Many of you have been using the iLUXCARS System successfully since we’ve started. While we’ve been saying that iLUXCARS is the best way to manage wholesale luxury, the fact that we’re still doing it, nearly 4 years since we started, is testament to how right we are.

iLUXCARS works for three very simple, very important reasons:

Reason #1 – The Network always knows the current value of a trade. You may know your local market, but you can’t possibly know the market in the entire country. The Network is never wrong.

Reason #2 – When you sell your car through iLUXCARS you get paid every time. WE write the checks. Every. Single. Time.

Reason #3 – iLUXCARS removes the risk associated with buying. Times are tough, especially in our business. The one thing you don’t need is more risk.

For almost 4 years – Faster. Safer. Better.

April Delay

2009-04-23T09:19:00.001-07:00

Yes, we managed to publish the April report almost three weeks late this month. The result of this is that several of the new values (marked Mar-09) actually reflect about 8 weeks worth of depreciation versus 5 weeks. We will make a solid attempt to be on time for next month.

Also, we have eliminated the iLUXCARS Appraisal from the submission process. This means that every car you submit will immediately be broadcast to interested dealers nationwide. This was a highly requested feature and after much thought and discussion we’ve decided to try it out for a while.

Just as a reminder, this market report was created to be used by dealers as a quick reference to what cars are doing on a national scale. Our appraisal function did the same thing on an individual car basis, but for many of you, it was a hassle.

Most of you were treating the appraisal number as a buy bid anyway – at least those of you who have been part of the network for a while, and the rest of you were either confused or annoyed by the extra step.

Starting today you won’t need to go through this extra step. When you enter a vehicle it will automatically be a Live Trade. When you get a bid it will be real money.

Faster. Safer. Better.

Our Mission

2009-01-12T11:45:00.000-08:00

In the nearly 3 years since iLUXCARS was founded our mission has stayed remarkably simple: Help you make more deals.

Everything we do, everything we've built is focused on this single purpose. We help you by providing you a rich set of services and information:

Direct access to a full-time, professional, expert account manager.
A complete infrastructure for managing every transaction you do with us.
A 100% risk-free environment for your trades. We cover everything from the time the car is described until it arrives at your dealership. Payment, Shipping, Condition. All risk-free.
The iLUXCARS Market Report - the only pricing guide available with real values on luxury and exotic vehicles.
An unlimited number of iLUXCARS Appraisals. The only safe way to start your deal with a real number to give your customer.
Access to a nationwide network of luxury and exotic Live Trades.

We do all of this to get a chance to make a deal on your trades. Of course, in order to make money we have to do a transaction. We have to get you to buy or sell a car.

So if we make money on transactions then why are we charging a monthly fee? One really simple reason - we want your commitment. We want your trades. Because we know that if you give us a chance at your trades we WILL make a deal.

Here's the good part - we're so confident that we're going to be successful together once you commit to using iLUXCARS we'll ONLY charge if you don't do a deal. Do a deal and it's free.

Yes, we're charging. But only if you don't use it. One deal a month. One trade across the finish line. One purchase. That's it. One deal and its totally free.

Faster. Safer. Better. And, if you use it - completely free.

Internet Time

2009-01-01T01:00:00.000-08:00

We're not sending a paper version of the January Market Report this month. Don't panic, we're still writing the report and you'll still be able to read it.

Given the volatility of the today's market we felt that we couldn't send you numbers that were even a little bit out of date. When we print and mail the report, by necessity, the numbers are at least a week old. In the case of some vehicles, a 7 day old number is enough to cost you money.

We updated this month's numbers at literally the last minute - the afternoon of the last day of the month - December 31st, 2008. We'll send the report to you via email as soon as the final proofreading is complete - probably by the end of the day on Friday, January 2nd.

If you have problems reading or downloading the email attachment the report will be available for download on your homepage.

In the mean time - Happy New Year from iLUXCARS.

Real Value

2008-12-27T09:58:00.000-08:00

We've been at this long enough to understand the real value of iLUXCARS. We've spent a significant amount of time, effort, and money on all aspects of iLUXCARS. The result. we think, is real value beyond just the individual parts.

While it's absolutely critical to the business (we are an internet company, after all) - the system is only part of our real value. And, even though it's absolutely critical to your business, the real value in iLUXCARS isn't just the Market Report.

The core of what we do is actually really simple - we manage your risk. Think of iLUXCARS as a complete risk management solution. Complete.

Payment - our money, our guarantee, our risk. Shipping - all iLUXCARS. Condition - same thing. Title - all us. Collection - still our problem.

Face it, given today's financial climate, managing your risk is your number one priority. And if it isn't then it should be.

iLUXCARS - the complete risk management solution. Real value.

Recent Updates

2008-12-17T08:50:00.000-08:00

For those of you who don't get or (worse) don't read our email you should know that last week we updated values in the online version of the Market Report. It is available to download from your home page. To read it you'll need to log in and click on the large, friendly text that reads: "December Market Report."

Note that this update is available exclusively to iLUXCARS members.

If you aren't a member or aren't reading the report then you should really think about changing that. Among other things, you are increasingly in the minority of professional dealers in the country.

Even if you aren't dying every month to read the informative and entertaining content in the report, you are certainly in need of the data. For example, In the 3 weeks between the time we printed and mailed the December issue to the last online update overall average depreciation - averaged across all models - has accelerated to over 5% (in 3 weeks). That's critical information.

We arrive at the numbers by analyzing the hundreds of millions of dollar's worth of luxury and exotic vehicles that are submitted to the iLUXCARS System every month. It isn't, in other words, our opinion.

Look, even if you know everything there is to know about your market you still need to be safe. Especially today. Really knowing may just save you money. Hey, it may save you a bunch of money.

Faster. Safer. Better.

Turkey Time

2008-11-25T18:55:00.000-08:00

Except for the Big Meal nationally planned for Thursday, the entire iLUXCARS team - Sales, Marketing, Development, Logistics, Accounting, (even Art!) will be working all Thanksgiving weekend. We, like most of you, are prepared for a big, successful Black Friday. (And Saturday, and Sunday.)

The iLUXCARS.COM site, of course, is always available (we're an Internet Company) and if you enter a Live Trade or an Appraisal even in the middle of pumpkin pie, the System will be working on it.

Some of your cars may have expired when you get back to the office on Friday. You'll need to look in the 'My Expired Vehicles' list and click Re-Open to turn them back into Live Trades. Simple. Fast.

Remember, if you start any deal without iLUXCARS then you are taking a serious, unnecessary risk. Start your deal right. We're here to help you make money.

Even while we're eating turkey.

Interested?

2008-11-20T10:43:00.000-08:00

One of the most frequently asked questions we get typically starts with "What ever happened to that..."

To address this, we've added a new feature that allows you to view and express interest in recently expired Live Trades on the site. To view the list, click on "Recently Expired" under "My Account."

If you see a car you are interested in, click on the "I'm Interested" link at the right of the list:

When you do this, a notification is immediately sent to your account manager. Your account manager will call the seller to see what state their deal is in and, if possible, re-open the car if it's still available.

A bunch of you are already using this feature - many successfully. Let us know what you think, and, as always, we welcome your feedback, comments, questions, and suggestions.

Fear and Greed

2008-11-11T10:35:00.000-08:00

At iILUXCARS, we pride ourselves in having our finger on the heartbeat of our industry. And right now, the heartbeat of the luxury car world is beating a little fast.

Sure, there is uncertainty about things - about prices, customers, even the future of big chunks of the industry. People are distracted.

We know this because good cars at very good prices aren't getting good bids. We think it's fear.

Warren Buffet recently wrote an op-ed piece in the New York Times. He had an interesting quote: He said, "A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful."

Smart guy, that Warren Buffet.

Look at it this way - Prices are down. People are fearful. Sounds like a good time to buy.

Be like Warren. Be greedy.

About Appraisals

2008-11-01T17:29:00.000-07:00

Over the last few months the number of deals that start in the appraisal stage has grown dramatically. We've put a lot of emphasis on this because the appraisal allows us to do two very important things.

One, an iLUXCARS Appraisal provides you a real time look at the current vehicle value within minutes. The appraised value shows you today’s money, based on the most recent transactions from the system.

Two, the appraisal value can be used to both educate yourself and, more importantly, get a commitment from your customer to sell the car.

An appraisal is not a buy bid from iLUXCARS. You cannot accept this offer. The number is to be used to get a commitment from your customer that will make the deal. After you get the commitment, convert the appraisal to a fresh trade and we'll open the vehicle up for the entire network to see.

Most of the appraisals that are converted into live trades get bids - offers you can accept - that are very close to the appraised value. In fact, on average, deals that are converted from an appraisal and accepted bring an average of $694 MORE than the appraised value.

iLUXCARS is able to get this close because we have access to hundreds of millions of dollars worth of transactions - all through the iLUXCARS system. And all of this is at your fingertips 24 hours a day. All part of the system.

Appraisals. Faster. Safer. Better.

What's Changed

2008-10-15T09:31:00.000-07:00

Since we published the October Market Report a lot has happened in the world.

The DOW is down 13% in October alone. New car sales are at a 15-year low. General Motors and Chrysler are talking about a merger. And the credit markets have apparently lost their minds.

As all of you probably know the global turmoil has had some substantial effects on our world as well. Prices on luxury and exotics are under real pressure. In the last 2 weeks, 29 of the 72 models we covered in last month's report have dropped by more than 2.5%. (To put this into perspective, that's 75% better than the S&P 500.)

At iLUXCARS, we felt that you needed to have this information today, so we updated the October Market Report with prices as of today (October 15th). You can download the updated report by logging into your account now.

The good news, no kidding, is that many of our members are buying cars. In many cases they are paying a bit less for the vehicle than they would have last month, but deals are still being made. In fact, we're actually seeing more activity this month that we did in August or September.

The biggest change we've seen is that our members are increasingly using iLUXCARS as an extension to their own inventory and a way to make retail deals. This makes a lot of sense to us, of course.

It's simple, really - if you have a customer looking for something specific chances are we can find it. There really isn't any better way to make a deal. Enter a new vehicle request and we'll get to work. Fast.

So, a lot has changed. The trick is to adapt. Download the new report. Pay attention to Live Trades. And make SURE you enter your vehicle requests. We'll probably find it.

October Market Report

2008-09-30T16:30:00.000-07:00

Internet companies don't typically get to shake that many hands. In September, we changed all that – if only for a few of you.

We took a trip to Florida.

We met several new and existing iLUXCARS members. One of the most interesting (and encouraging) things we saw was that the September Market Report was being used throughout the country.

We talked about iLUXCARS and what we're doing to help you make more deals. We talked about the value of information and the value of a guarantee. We talked a lot about the fact that with iLUXCARS, you do business with iLUXCARS – not individual dealers.

And of course, we talked about numbers.

Numbers are everything in our business. Seemingly small mistakes can cause large problems. iLUXCARS is dedicated to reducing mistakes by keeping you armed with the numbers you need to make good decisions.

The October Market Report is in the mail. If you don't for some reason get it in the next couple of days, please let us know and we will be happy to send you another. There is also a version available for download online. Simply login to your account and click on the large, friendly "October Market Report" link on your home page.

Finally, this month's report includes analysis of an additional $105 million worth of vehicles - all created over the last 30 days. We also increased the size of the report by almost 40% (22 new models).

Bidding Closed

2008-09-12T12:03:00.000-07:00

Nobody likes being a buyer at an auction. We know, because we've been buyers at auctions. You're either afraid to bid because nobody else is bidding, or, you're mad that someone is trying to outbid you.

Buying cars at auction, in our professional opinion, sucks.

And it isn't just us that feels this way - a significant percentage of the iLUXCARS network feel exactly the same way. We know this because you've told us. In some cases you've told us often.

So, we solved the problem.

First, we streamlined the selling process to ensure that the only cars you see have a commitment to sell at a known price. (Read more: Big Changes)

Second, if you meet or exceed the asking price on one of the committed Live Trades in the system we close the bidding. Which means you can't be outbid. Ever. Problem Solved.

Simple, really. You bid the money. You win.

Bidding Closed. Like we keep saying: Faster. Safer. Better.

September Market Report

2008-09-03T16:21:00.000-07:00

The September issue of the iLUXCARS Update is in the mail. Most of you should receive it by Monday the 8th. If for some reason you don't see it let us know and we will be happy to send you another.

Starting tomorrow you can download the latest report by clicking on the link 'September Market Report' in the 'What's New' section of your home page after you login.

The Market Report is the result of almost $1 billion dollars worth of data on luxury and exotic vehicles. We summarize, analyze, and publish this report in order to provide you the essential information you need to make more deals.

This month's report is full of useful information - the most hopeful is that depreciation rates in August have dropped to a comforting 1.2% (on average) from nearly 3% in July. Ferrari and Lamborghini fared even better.

Also in August - We signed up our 1,000th dealer user! This is a milestone we're very happy about, and, it's good for everyone.

iLUXCARS is a network – and a network draws its strength,in part, from size. More users equal more cars available, more buyers for your vehicles, better money, and more ways for iLUXCARS to help you make your deal.

Recent Team Additions

2008-08-20T18:04:00.000-07:00

This week, August 18, iLUXCARS welcomes Tim Rogers as Vice President of Sales & Operations.

Tim comes to iLUXCARS from Autobytel, Inc. where he was Vice President of Dealer Sales. At Autobytel, Tim led the sales team, which was responsible for thousands of retail dealers nationwide. He developed an industry leading national sales force, spanning both field sales and telesales, with reps in every major U.S. market.

As one of Autobytel's original employees, Tim was a key contributor in steering Autobytel’s early growth from 1996 through 2000. A primary player on the sales team from the beginning, Tim led the integration of both the Autoweb and Car.com sales teams after Autobytel acquired both companies in 2001 and 2004, respectively.

Tim brings more than 12 years of management and leadership experience to iLUXCARS. You will be hearing more from Tim in the near future. All of us on the iLUXCARS team are looking forward to working with Tim as we continue to grow the iLUXCARS Network and improve the iLUXCARS System.

Blame Someone Else

2008-08-14T16:37:00.000-07:00

Along with the Big Changes this week the System is now attaching 2 versions of the iLUXCARS Appraisal Report to the email that contains your appraisal number. The first version has comparable values and the 'Simple' version doesn't.

The Appraisal Report is a powerful tool you can use to get a real commitment from your customer. And, best of all, you can blame someone else for the number. Blame iLUXCARS.

You can mention that we've processed nearly a billion dollars worth of luxury and exotic cars in the last 18 months. You can show them the Market Report if you want.

We've talked to several of you about this idea and the response has been great. Several of you are using it to make your deal.

So, blame someone else - we can handle it.

Big Changes

2008-08-11T16:16:00.000-07:00

At iLUXCARS, we are constantly trying to improve the process to balance the needs of both buyers and sellers. Starting tomorrow, the format and rules for buying cars is changing.

First, cars on the "Live Trades" list will have commitments from sellers at the specified target price. If the target price is met, the bidding will automatically close. This will encourage buyers to bid early and tie up the car quickly. Once the target price is met, it is the seller's responsibility to finish their deal and accept the offer as quickly as possible.

Second, when you enter a new vehicle you will be asked if you have a commitment from your customer. If you don't, the System will enter your vehicle as an appraisal where you will receive a value based on the last 30 days of transactions. The Appraisal will help you start your deal and achieve a real commitment from your customer. Once commitment is established, you can convert from Appraisal to Live Trade, enabling the entire network to view your car. Note that if the commitment is too far above the appraised value, you will be unable to convert to a Live Trade.

Our biggest complaint from our network is the lack of commitment from the sellers - either no commitment or above market asking prices. These changes are designed to alleviate these frustrations, as well as increase the participation from the dealers. We are aware all dealers want to know what buys the car. We are also aware that dealers don’t like the auction process and want the bidding closed once they have bid the money.

Designed for Trades. Faster. Safer. Better

The iLUXCARS Update

2008-08-07T10:59:00.001-07:00

By now you should have received our first issue of the iLUXCARS Update which includes a comprehensive Pricing Guide. The guide includes current wholesale prices for our vehicles over the last 4 months.

We know that your business office staff often throws these sorts of things directly into the circular file, so if you haven't seen it, you really, really need to ask for it.

If you want, you can download the latest report by clicking on the link 'August Market Report' in the 'What's New' section of your home page after you login.

The report is the result of extensive analysis on live iLUXCARS transaction data. Over $850 million worth of luxury and exotic cars have passed through the iLUXCARS System in the last 18 months. In other words, this isn't just our opinion. We have substantial proof.

The data included in the report is specific to selected high-end luxury vehicles – our specialty. We've chosen the makes and models included in the report for many reasons:

One, we have extensive data about all of these vehicles – prices, options, colors, mileage, etc.

Two, this is the center of our expertise – we trade more of these types of cars than nearly anyone in the world.

Three, we have been asked for access to our data about these cars by everyone – the demand, seriously, has been a bit of a surprise.

Four, and possibly most important, there is no other good source of reliable data on these vehicles available today.

If you haven't seen it or can't find it let us know and we'll send you another copy. We have a feeling that you'll be glad you did.

Your Questions, Answered

2008-07-25T10:21:00.000-07:00

The Top Two Questions asked of our account representatives go something like this: "What buys the car now?" and "What's the deal on that car?"

The cars in the iLUXCARS Live Trades list are, well, Live Trades. This means that on many cars, we don't actually know the answer to these questions. That's because the seller doesn't know. And the seller doesn't know because their customer doesn't know.

Starting today (July 25th), when we DO know "What buys the car now" AND we have a real commitment from the seller AND the target price is on the money, we're moving the car to the top of the list. Cars with this sort of commitment and price are now in the "Buy it Now" group at the top of the Live Trades list in a friendly green color. Click the "Buy It Now" button and you win. No bidding, no waiting, you don't even need to call us.

For the FEW of you who haven't logged in today it looks like this:

Also starting today you'll notice that we've added the status of every deal in red bold letters right on top of the vehicle description. The "deal status" will be one of the following:

Target price buys car - This means we have a solid commitment from the seller and the car is priced on the money. These cars are in the "Buy It Now" list.
Client committed at target price - The seller has a commitment at the target price to make the deal. Needs the target or close.
Need buy bids to work with, no commitment from client - The seller has NO commitment from the customer and is looking for buy bids to start their deal.
Need buy bids to work with, client commitment price is over market value - The seller has a commitment from their customer but it is over market value. They need buy bids to start the deal.

To help answer another question we hear on a regular basis - "What do I tell the customer" we've improved and renamed the Appraisal Report.

The Appraisal report can be a powerful tool you can use when starting your deal with today's, how should we say, optimistic customer. Selling a Car 101 - always blame the market.

To print a report, click on "Appraisals" from iLuxCars Offers, select the deal you are working on, and click the "Report" button (circled in red below). To see a sample, click here.

As always, we're open to suggestions on how to make the System better. And, as always, we're happy to answer any questions.

Texas Wisdom

2008-07-21T08:53:00.000-07:00

There is an old saying in Texas that goes like this: “If all you ever do is all you’ve ever done, then all you’ll ever get is all you ever got.”

Yes, the market is a little rough. Yes, prices have dropped. Yes, everybody is scared. But, cars are still being sold when you can put the right number on the trade.

And, there is no better way to ensure the right number than to put every trade into the iLUXCARS system. Simple. Risk free. Every time.

Today is, after all, the start of last 10 days of the month. You need to finish strong. There are deals that will be made and, we're quite confident, iLUXCARS can help you make these deals. Assuming, of course, you're willing to change what you normally do.

Just like they say in Texas.

Do-it-yourself

2008-07-11T10:03:00.000-07:00

Shortly after we made our 5 Minute Appraisal Commitment the number of appraisals entered into the system got a big bump. And, the number of requests we received about allowing you to convert an appraisal to a Live Trade increased as well.

So, we're going to let you do it. Last night we added a simple, do-it-yourself way to convert any appraisal into a Fresh Trade. To do this, select the appraisal in the list and click 'Convert.' You'll have the chance to adjust your target price and we'll do the rest. The network will be notified immediately and we'll get to work on your deal.

For the visual minded group - it looks like this:

Something Different

2008-07-08T10:32:00.000-07:00

The first of every month we sit down together - sales, logistics, development, accounting, administration, marketing, and management - and ask the same question: "What are we going to do different this month?"

Last month, no matter how bloody it was, is all over but the counting. And if you're in the car business, well, there probably isn't that much to count. So while you could trudge along doing business the same way you did last month – it might be time for a small, but potentially very positive improvement.

Why not enter every high-end trade into the iLuxCars System as an appraisal? Just spend 2 minutes to enter every trade (even if you haven’t taken it in yet), and get an immediate appraisal from our extensive, nationwide market data in a guaranteed 5 minutes (Our Commitment).

Print it out. Educate the customer. Make your deal. Once you make the deal, give us a call and we'll open the vehicle up for bidding to the entire iLuxCars Network – nearly 1,000 members strong. Accept the iLuxCars offer – and we take care of everything. The car is off your lot - fast. Fax your title – get paid – fast (48 hours or less). Now that's something different, right?

And here's another benefit: entering your car into the System gives you a permanent record of every car. So, if your negotiation drags on for a few days – you'll have an easy way to re-start your deal.

If you’re not running every luxury and/or exotic trade through iLuxCars before you try to put a number on that car in today’s market, you are taking a serious risk. One of those money-losing sort of risks.

So, what are you going to do different this month?

10-Year Low

2008-07-02T12:15:00.001-07:00

We're more than sure that you don't need the New York Times to tell you this, but times are a little tough right now in our industry. (But, it is an interesting article, if you want to read it: "New York Times - Car Sales at 10-Year Low")

Prices, no matter what you want to believe, have slid.

In case you're still in denial, here's an example: yesterday (July 1), we had a somewhat desperate inquiry on an '04 360 Spider, Red / Black, racing seats, F1, 9,000 miles, all service. The minimum the customer has to have is $160k. This is the amount left on the customer's loan. This car, we can say with absolute certainty, isn't worth any more than $140k, best case, wholesale. $155k, best case, retail.

Silly, optimistic customer, you say? Unfortunately, it isn't that simple.

First - if the customer can't get his $160k on the trade (and he won't) someone doesn't make a deal. Second, and far more sinister, it isn't just uneducated customers that are in denial (by 12.5%). Our members - that would be you guys - are in the same boat.

Why? Nobody is buying. Unless - and this turns out to be the important bit - unless the car is already sold. Which means when you DO get a buyer, you need access to good cars. Nationwide access. iLuxCars access. Because, as it turns out, if you aren't buying and selling cars you aren't in business.

Like we keep saying - Faster. Safer. Better.

Your New Home Page

2008-06-12T18:31:00.000-07:00

We've rolled out some important changes to your home page. Most are self-explanatory, but just in case here's some guidance:

First - we've added friendly, red 'New!' markers next to the new items. You notice 2 new items - "Manage My Account" and "Actions."

Manage My Account -- The first 2 links (Invoices and Purchase Orders) are links to the list of vehicles you have bought or sold. From these lists you can print your Invoice or Purchase Order.

Current Bids, Lost Bids, Bids by My Dealership show you all of the bids you've made and the outcome of those deals. Notice that you can quickly switch between the 3 lists using the new set of links at the top of the page (the orange one is the current list):
iLuxCars Offers (everyone's favorite page), Withdrawn Vehicles, Expired Vehicles show you current, withdrawn, or expired deals. You can accept working deals or re-open expired or withdrawn deals. We've split these into 3 pages because many of you have so many deals that it was becoming confusing. Again, you can switch between the 3 pages using the links at the top of the page:

The Activity Reports link takes you to an online version of your dealership's monthly activity (this is the one we mailed last month).

Actions -- The Action links are a shortcut to enter a vehicle (Trade or Appraisal), Request a Vehicle, report issues about the System, or read the latest news (this BLOG).

Finally, if you want a really, really easy way to start the new car wizard (Sell A Car or Appraisal), we've created a small program that will put an icon on your desktop to launch the wizard in one step. If you have save your password (on the login page), then you won't even need to type your password to get started. To try it out, click here.

Of course we're always available to help you through any problems you're having or answer any questions you have about the system - toll-free, anytime. 866.276.4540.

What's New - May 2008

2008-06-10T19:33:00.000-07:00

May was another record month for us at iLUXCARS.

We had 84 new members join iLUXCARS last month alone. New members from all over the world - Florida, California, New Jersey, Washington, Utah and the Bouches-du-Rhône department of France. (If you're curious, it's in the Provence-Alpes-Côte d'Azur region: Bouches-du-Rhône)

That's right. iLUXCARS Europe is officially open. Besides the fact that this sounds really, really cool (say it: Bouches-du-Rhône) - we think this proves the unique and global value of the iLUXCARS Service. Next - iLUXCARS Canada.

We also announced a new commitment to super fast appraisals and super simple appraisal to trade conversions. Here's the short version: Enter an iLUXCARS Appraisal and the System will give you an up to the minute value in 5 minutes or less. Start your deal fast. Let the System do the work.

And finally, most of you probably received your first monthly activity report by now. The report shows everything you and your dealership did last month - buy, sell, even the number of times you logged in. If you didn't get it - or can't find it, it's available on your home page under 'Activity Reports.'

So, if you're new to the network - welcome. Or, as they say in Provence-Alpes-Côte d'Azur - Bienvenue!

Real Money

2008-06-06T08:00:00.000-07:00

Occasionally we hear second hand what people are saying about the iLUXCARS service. Most of what we hear, unsurprisingly, is overwhelmingly positive.

The most consistent thing we hear: "iLUX? It works." (Exactly)

One of the more interesting things we've heard: "iLUX? That isn't real money."

Excuse me?

That is, the current bid in the System isn't actually real money. Really? News to us.

It could be that these non-believers haven't considered the fact that iLUXCARS operates nationally. The money in one market is frequently better than the money in another, and iLUXCARS is the only sensible way to take advantage of that.

It could also be that some of you don't really understand the iLUXCARS idea, or the iLUXCARS System, or the iLUXCARS guarantee, or the quality of the iLUXCARS service.

Or, maybe you're just jealous.

So - just to be crystal clear - it's real money.

Commitment

2008-06-03T13:45:00.000-07:00

When you start the process of selling a car to a customer that involves a trade, your first and hardest goal is to get a commitment. Now, while every customer has an idea of what they need for their trade, most of them think they are way too smart to actually tell you that number.

No commitment and the deal isn't started.

You need commitment. But to get that, you'll need a number to start the deal. And, the simplest way to get that number - a real number, a deal starting number - is to get an iLUXCARS Appraisal.

So to help with all this we have a new commitment to you - When you enter an Appraisal on the iLUXCARS System we promise that the System will give you number that you can use to start your deal in 5 minutes or less.

Promise. Appraisals in 5 minutes or less. Print it out if you want. Start your deal. Get a commitment.

(If you make your deal and want to wholesale the car, we'll convert it to a Fresh Trade deal - just give us a call.)

Now you have a commitment.

Simple

2008-05-28T13:39:00.000-07:00

All the time, money, and effort we put into the iLUXCARS service and the iLUXCARS System is dedicated to one thing: Help you make more deals.

Even though we're sure that iLUXCARS is one of the greatest web applications ever, we know that what you really want is for us to make it simple.

And, we think we're getting there. Most of what you do in the System is really, really easy. Make a Bid - 2 clicks. Accept an Offer - 2 clicks. Get paid - 0 clicks. Get your car - 0 clicks.

Enter a car - OK, a bit more work. We admit it. We do ask for quite a bit of information about a car when you enter it. It takes a few clicks. Still simple, we'd maintain, but it takes a minute.

Now, for those of you who don't even have the minute it takes to enter your vehicle, we sent you a pad of iLUXCARS Appraisal slips. If you didn't get them then you need to track down who DID get them in your dealership, really let them know how shockingly inconsiderate that was, and take them back (or give us a call and we'll send another pad or download one here).

The iLUXCARS Appraisal Slip, no matter how busy you are, is really, really simple. Fill it out, fax it to us (714.242.6732). Total Clicks: 0. That's it.

Remember: Help you make more deals. Simple.

Comfort

2008-05-07T15:23:00.000-07:00

When you make a purchase on the internet, especially in the iLUXCARS dollar range, you want to feel pretty comfortable.

And, even though we guarantee everything about the transaction – money, title, condition, and transport – we know that the sellers who get the best response from the network (that is, the best money) are almost always the ones who take the time to properly describe the car they are selling.

Complete vehicle descriptions are essential to making buyers comfortable with your vehicle. Detailed information, especially vehicle options and specific required reconditioning are very, very important.

Comfort is especially important to new network members – over 100 last month alone – as many of them may not have had much experience buying $200,000 items based only on your vague description of vehicle options and blurry photos.

So, until we work out a way for a car to enter itself into the System – you'll have better results if you make sure that the description you enter is complete.

So this guy walks in...

2008-04-18T17:47:00.000-07:00

We had one of those 'I get it' moments from one of our members recently. We love stories like this:

It was a weekend at a BMW dealership in Reno. The used car manager is out of town (Vegas, we're told). Guy comes in with a 2003 Murcielago. Big Car. And, he wants to trade. (We're told there were some tense moments in the back room.)

So, the used car manager gets a call (in Vegas, we assume) - hands over his user name and password, the car is submitted, and a couple of bids later there is a working deal. All this in about 20 minutes. Two days later there is a check in the mail and the truck is on its way. We have a new fan.

Ah, I get it. Love this story.

After all, this is exactly what we concentrate on - every day (even weekends). We do trades better than anyone else. There is no better solution. We help you make your deal during the trade-in process. No risk. Guaranteed.

Like we keep saying - Faster. Safer. Better.

Our Guarantee

2008-04-15T11:34:00.000-07:00

We've said many times that iLuxCars guarantees every deal. Payment. Shipping. Condition.

One of the things we do to ensure the condition guarantee is to run a CARFAX report on every accepted deal. The report is printed and placed it into the permanent file along with the invoice and purchase order from the deal. Every time.

We do this so that we can guarantee that the CARFAX is clean or if it isn't, you've been told about any issues in the report. If the report isn't clean and you don't want the car because of that, we'll unwind the deal.

Occasionally, data is reported to CARFAX well after the vehicle arrives at your dealership. Now, as much as we'd like to tell you this will never happen, we're not CARFAX and we're not in charge of their data.

This means, of course, that we can't guarantee the report will always be clean. However, we will guarantee that it will be clean at the time of purchase.

It goes without saying that we do all of this as part of our solution. Every Time. Guaranteed.

Frustrated?

2008-04-07T08:19:00.000-07:00

When we created iLuxCars our goal was to become the wholesale solution for luxury and exotic cars. The decisions we make and the rules we enforce are designed to realize this goal.

One of the advantages to the way that iLuxCars works is that it allows you as sellers to broadly distribute your vehicle to a large (growing larger every day) group of qualified buyers instantly. For buyers, there simply is no other place that gives you a chance to bid on big cars during the trade process.

We're unique. Oh, you say - it's just an auction. Well, almost. While iLuxCars feels like a traditional auction the choice to accept or reject the bid is up to the seller. Being the high bidder doesn't always mean you buy the car. Why? All of the vehicles on iLuxCars are Live Trades. The retail deal around the vehicle, even though your money is likely the best money, may not happen.

We sense a bit of frustration with this and frankly, we're a little confused. All auctions work this way. Even large auctions (Manhiem, for example) close less than 50% of cars that run. These are cars, remember, that are owned by the seller and have been trucked to the auction at the expense of the seller.

The close rate for an iLuxCars transaction is almost 25%. We should repeat this. Nearly 25% of the vehicles submitted on iLuxCars result in successful transactions. These are Live Trades that are NOT owned by the selling dealer and haven't been trucked anywhere.

The important thing about all of this is that if you are the high bidder on a vehicle you will, on average, end up winning 25% of the time.

Risky Business

2008-03-21T09:18:00.001-07:00

Almost 9 months ago we wrote about what we thought was an outside risk for those of you still going to auctions (see iLuxSafety). Well, it's happened again: 12 Hurt When SUV Slams Into Auto Auction. It seems an out-of-control SUV plowed into a group of innocent wholesale car buyers.

Say what you want about Internet safety - we've never actually heard of someone having to visit a hospital because they were surfing the Internet.

Any way you look at it, wholesale car buying is a risky undertaking - and not just because of errant SUVs. Auctions are risky - condition isn't certain, selection is sub-standard, and there are many hidden costs: (Auction Tales). Your local wholesaler (who probably never ran over anyone, to be fair) is risky - Would the person who never had to chase down a local wholesaler for their money please stand up?

Of course, buying trades yourself and putting them through your shop and on your front line is probably the riskiest business of all - especially if you aren't 100% sure of the market.

Now, while this may seem like a shameless way to promote iLuxCars, the truth is we understand this Risky Business better than anyone. Mainly because we assume all of the risks on EVERY car. We pay, we ship, we guarantee. Everything. And, we promise never to run you over.

Significant Others

2008-02-29T11:13:00.000-08:00

We understand that there are other people in your organization who may want to use the iLuxCars system but may not have your full authority to, well, spend money. However, many of our network members want their sales team to have access to iLuxCars but not be able to bid or submit vehicles.

So, because you asked, we've done it. If you want to add your sales team to the system here's how:

Have them register. (http://www.iluxcars.com/register). It'll take a few seconds. Use the same dealership name and address as you use, and we'll get them going faster.
We'll call them shortly after their registration is submitted. When we call, have them tell us that they would like access to the system but that they won't be buying or selling. We'll be happy to walk them through the system as well.

Once your salespeople have been enabled, they'll be able to:

Keep their finger on the real wholesale luxury market. Read our news, see active deals, and view open requests in the System.
Look at what's selling now – that is, "Live Trades." If they see a car they can use, they can let you know. Remember, we're happy to enter a bid for you if you give us a call.
Make Requests. If you need a car put it in the system as a request. Our software searchs this list every time a new vehicle is submitted.
View status on vehicles you've sold or purchased. (My Account - Where's My Car and My Account - Where's My Check).

Give it a try. We're here to help.

Clearly Not

2008-02-20T16:39:00.000-08:00

Sometimes the clearest way to describe something is to explain what it isn't. You know – black is not white, a democrat is not a republican, a coupe is not a convertible, wholesale is not retail, and iLuxCars is not a listing service.

Let's repeat that: iLuxCars is not a listing service. Clearly Not.

If you've put a vehicle through your shop, listed it on AutoTrader, EBAY, Yahoo, ThaList, duPont, or the like, then iLuxCars isn't the right place for your car.

Our marketing and positioning department may not have communicated this with total clarity, so, here goes:

What we do – what we're 100% focused on – is helping you make your deal. Early in the process. Before – way before – you've put money into the vehicle. If you have a customer with a trade put it in the system. Right away. We're the wholesale solution for Live Trades. If, on the other hand, you're looking for a retail listing service then iLuxCars isn't the answer.

The truth is, our network members (you) don't want to see cars on iLuxCars that are also listed on Tha List or EBAY. You've told us this. Many, many times. You've made that clear.

So, we're unique. We know. We help you make more deals. EBAY won't do this. They can't. Neither can AutoTrader, the duPont Registry, or Yahoo. Only iLuxCars.

There simply isn't anything else like us. Clearly Not.

Bentley GTs

2008-02-18T08:03:00.000-08:00

The iLuxCars System is at its core a database. A pretty big database, by the way. Lots and lots of 1's and 0's. We're constantly mining this data trying to extract the nuggets of information out of it that will provide our members with something you can use when you have a customer in your dealership trying to make a deal.

Most of you have probably noticed by now that we're showing you real transaction data (and handy visual aids) for your vehicles in the system. We're also committed to turning this data into information – information that you can understand, and, more importantly, use to your advantage.

So, while you can look at the numbers yourself, here's a summary on one vehicle – 2004-2006 Bentley GT:

First, and this isn't surprise, but, we're seeing a strong downward trend in the 2004 and 2005 model year vehicles. The 2006 and newer models have stayed pretty strong, provided the color and mileage is acceptable. Prices on 2005s are fluctuating from $100,000 to $110,000 for cars that are good colors (Black, White, Moonbeam, Silver Tempest) and have less than 15,000 miles. Blue and green are less desirable. If the vehicle has the Mullinner package it generally adds between $5,000 and $8,000.

And here's one of those handy visual aids - a snapshot of average prices for the last 12 months:

Remember, these are real money prices - not our guess, not what we think the market is on the GT, but the real money. Wholesale, of course. Right out of our database. All part of the solution.

Suprised

2008-02-08T15:06:00.000-08:00

Sometimes, even we get suprised by the market. Here's an example:

This week, we had a 2007 Gallardo Spider, Blue Fontus with Ivory interior, 6sp with a $229,000 MSRP. 1,000 miles. The car can be bought for $180,000 and apparently, none of you are interested.

Suprising. Our first reaction to this was $180,000. We've had recent comparable vehicles north of $180,000. Several, in fact.

According to our data, this car is priced below the market. Suprising, huh?

For those of you visual learners out there - here's a picture of what we're seeing:

Focus

2008-02-04T17:22:00.000-08:00

As most of you know, we spend a great deal of time talking to you. We also squeeze in a little time listening. What we hear (during all this listening time), overwhelmingly, is that you don't want cars on the system that are old inventory.

If you want to move your old inventory – especially if you expect retail value – then iLuxCars isn't the right place for your car. In fact, what it tends to do is depress the rest of the network. The prices are simply too high for a wholesale purchase.

What you DO want – again, overwhelmingly, is Fresh Trades. So, we're focusing on that.

iLuxCars is a wholesale solution. What we do, what we focus on, are heavy cars (greater than $70K) during or directly following trade-in.

So, starting today, when you enter a car for sale on the system, you may choose either Fresh Trade or Appraisal. No more 'Dealer Inventory' transactions.

An appraisal means that we will use the system to determine a price for your vehicle based on similar transactions and market knowledge. Choose this if you don't intend to wholesale the vehicle.

A "Fresh Trade" is a vehicle that you are either trying to take in from a customer or have recently taken in on another deal. You do NOT need to own the vehicle to start this type of transaction.

This is actually a big release for us. Many changes. Simple, useful, focused changes. Here's the top 4:

A new home page. You'll notice this right away. It consolidates important information about the currently trading cars, cars you are selling, and recent transactions you have made. Plus, it looks really cool.
iLUXCARS Market Report! When you submit a vehicle you will now be able to see recent, comparable transactions to your car during the submission process. You can use this information to establish your wholesale target price.
Less email. We've reduced the number of emails that you will receive for events that happen in the system. Email is the only reasonable way to communicate with you about the rapidly changing state of the system, but we acknowledge (reluctantly) that it probably seems a little excessive.
New preferences. You can now set a maximum mileage in your account preferences. If you enter 15,000, for example, we won't send email on vehicles with more than 15,000 miles. Note that you will still be able to see and bid on ALL vehicles – you just won't get the email.

The Dream

2008-01-28T08:32:00.000-08:00

We've come to the educated conclusion that our network has some optimistic members. Especially in January.

This month, on average, the wholesale asking prices on vehicles you submitted are 16% higher than the iLuxCars offer amount. In November, they were only 7% higher.

And this means? You have a dream. We call it the retail dream. You've listed your vehicle at this price on eBay and Tha List. You were on the money only 88 days ago. And now? You're dreaming about that perfect retail customer walking into your store, paying the money - dream come true. Right?

Like we said - an optimistic January.

On average, high-end cars - $70,000 and above - heavy cars - the ONLY cars we handle - have depreciated a little less than 3% a month for the past 3 months. (2.87% to be exact).

Our opinion - based only on raw statistical analysis (of over 500 million dollars worth of Big Cars) - says that it may be time to consider a new solution. If you want to wholesale the car - then iLuxCars is almost certainly the right solution.

You guys are an optimistic bunch.

Oscar Quality

2008-01-23T11:53:00.001-08:00

We've removed the movies from the home page. We got a bunch of good feedback on them, and we got a few minor complaints that it was a tad repetitive.

They are still on the site, of course, so if you want to watch (and we know that you do) you can. Play them here, here, and here.

The one thing we know is that if you were starting to tire of the movies then you were using us as we want - that is, you were (and are) logging in every day. That's good. Good for iLuxCars, certainly, but more importantly good for you.

iLuxCars happens in real time. Every day. All day. The only way to keep your finger on the real, up-to-the-minute, nationwide market on luxury and exotic vehicles is to participate in the iLuxCars Network.

Cracked

2008-01-21T07:20:00.000-08:00

There was an article today by CNW Research with the quote: "The used-vehicle industry will receive a 'shock' this year" because of a projected 9% decline in "used-vehicle purchasing intentions."

You bet. To better illustrate this point - here's a snapshot of last year's wholesale prices on one of our more popular vehicles (2004 360 Spiders).

Most of you probably have a sense of this. Things have most definitely cracked. Which is why you might want to be a little more circumspect about putting numbers on your trades without checking with the iLuxCars Network first.

Think about it - there simply isn't a downside to being sure. The number you get from iLuxCars is the real money on the car. When you make your deal based on the number from the System you're safe. We suggest you enter every trade. Every time. No risk.

Things have cracked. Be careful you don't fall through.

New, New Things

2008-01-10T00:11:00.000-08:00

Technology is the heart of our business. Those of you who hear from us on a regular basis probably think all we could possibly have time for is talking on the phone. Not true. Most of our time, energy, and really good ideas go into using and improving the technology that powers this Network.

You'll notice that we've changed the look and feel of the 'Make an Offer' page. We're now grouping vehicles by make to make it simpler for you to navigate the list. To open one of the make lists click on it. To close it, click it again.

We've also added a 'Chat' link on the each of the cars you are selling ('iLuxCars Offers') (we'll add it to the 'Make an Offer' page next.) We're seeing that more and more of you are using chat (to avoid actually talking to us, we suppose) and we just want to make it simpler.

For all of you who just want to print your invoice or purchase order – we've added two new links under 'My Account -> My Transactions' dedicated to making this super quick and easy. To print an invoice click on 'My Invoices.' To print a purchase order click on 'My Purchase Orders.'

Finally, you'll notice that you can now 'Print' an iLuxCars Offer. From iLuxCars Offer list, click on the print button. It's a nice looking, printable version of the current offer on your vehicle for your use. We've had numerous members ask for this to use as a way to show your customer the actual number on their car while you are making your deal.

Happy Holidays

2007-12-21T17:21:00.000-08:00

Those of you who were iLUXCARS members last year probably fondly remember our 12 Days of Christmas BLOG from last year. This year, due in part to the fact that we haven't had time to sit down, we've decided on a more subtle approach. If you've logged in lately (and if you haven't why NOT?), then you will have seen our bright, festive, Ferrari RED site. (We'll turn it down a bit next week, don't worry.)

It's been a very busy, very educational, and very successful year. Not to overstate the obvious, but we couldn't have done it without you. iLUXCARS is, before everything else, a network. The largest luxury wholesale network anywhere, as a matter of fact.

Over the next 10 days, as you close out your year, finalize your shopping, visit your families, and service your customers, we'll be here and working (we may take a few hours off on Tuesday).

So, please continue counting on us for the rest of 2007 - as we keep saying - Faster. Safer. Better. The only sensible way to trade.

Rejected

2007-11-21T22:42:00.000-08:00

Thursday, as most of you know, is a Holiday. (Happy Thanksgiving!) We trust you'll spend it enjoying turkey, cranberries, some overpriced young nouveau wine, and possibly even your family.

When you get back to work on Friday you'll notice that many of your vehicles have had their bidding closed. If you want to reopen bidding until the deal expires you can now Reject the offer. (Fresh Trade deals only). To do this click on iLuxCars Offers, choose the deal you want to Reject, and click 'Reject.' The bidding will be reopened until the deal expires (usually the next day.)

Your account representatives will be available Friday - we're an Internet company - so feel free to call us with any questions.

Enjoy your day off too - next week is going to be busy.

Tweaks

2007-11-15T15:21:00.000-08:00

Tuesday night (late), we rolled out some new rules: The Rules Are Changing. Wouldn't you know it, only a day later and we've discovered a few things that aren't quite right. So, in the interest of providing you with the sort of service you deserve - we're doing another update. Tonight. Hopefully not as late.

There are 5 important changes:

Fresh Trades will now expire 24 hours after bidding closes (not 2). This is to allow you, the seller, the time to make your retail deal and accept the iLuxCars offer. (If your car is entered on a Friday, bidding closes Monday at noon and the deal expires Tuesday at noon.) Inventory deals still expire 2 hours after the bidding closes.
If your deal expires and you decide to reopen the vehicle you must lower your asking price (Reserve Price) by at least $100. Our single largest complaint (even including how much email we send) is that the reserve prices are too high. (this is wholesale, remember?) This rule helps address that concern.
We've removed the "Reject" button. Reject was never really used the way we thought it would be and we felt that it was causing too much confusion.
We've simplified the process when you forget your password. From now on all you need to do is to enter your email address and click the button. We'll send you your current password. If you have ANY problems, give us a call and we'll step you through it.
If you have enough money on your car and you want to let it run until the bidding closes, let us know and we'll mark the car "Selling All The Way." When we have a car that is "Selling All The Way" the system will automatically accept the highest offer when the bidding closes.

The Rules Are Changing

2007-11-13T12:11:00.000-08:00

We're rolling out some new rules for the site. These come about after much discussion both internally and externally. The first set of changes all relate to deal and bid expiration:

Bidding will close at 12:00 PM PST for all deals (Fresh Trade and Inventory).
For Fresh Trade deals, the bidding will close the next business day.
For Inventory deals, the bidding will close 2 business days later.
If you enter the vehicle on Friday, the bidding will close Monday at noon.
All Inventory deals will expire 2 hours after the bidding closes.
All Fresh Trade deals will expire 24 hours after the bidding closes. This is to allow you time to close your retail deal.
You must accept the offer before expiration or the bids will no longer be committed. You don't have to wait until the end of bidding to accept. You can reopen the vehicle, but the bidding process will start over.
Your bid is committed only until the deal expires.

The other change only applies to Dealer Inventory deals. After talking to many of you over the last couple of weeks, we've gathered that the vast majority of you know the amount you need to make your deal. You are all putting an asking (or reserve) price that, if met, will make your deal. (Many of you are a still a little confused on the definition of "wholesale", but we're working on that).

So, from now on, if a bid meets or exceeds your asking (or reserve) price the system will automatically accept the offer on your behalf and start the process of getting you paid and your car delivered to the buyer. Which is, of course, our whole purpose - get you paid and get the car delivered, fast.

For bidders, you will now see both the reserve status and the bidding close date as soon as you bid. Also, we're leaving you on the 'Make An Offer' page after you bid (for those of you who want to bid on multiple cars). Bidding, if you're new to the network, is super simple. It takes exactly 2 clicks. Choose the car, enter your bid, click Next, click Submit. That's it.

iLuxCars - Faster. Safer. Better. The only sensible way to trade.

Selling All The Way

2007-11-04T15:28:00.000-08:00

Some of you know that we're constantly working the site, trying to make it better, more useful, more fair, and, of course, simpler. We do a substantial update about twice a month, most of the time, however, it isn't something that leaps out and say "we've changed something."

This weekend is a little different - we're changing something. The reason we're making the changes is because you wanted us to. Last month we signed up our 700th member. This means that there are 700 potential buyers and 700 potential sellers in the network, and, from the site's perspective, 700 potential users with comments about how they would like the application to work.

What we've heard most from our 700 members is that they really, really want to know when a car can be bought. That is - when is a car selling all the way? So, we've got a new way to handle this. Here's the major changes:

Bidding now closes on all deals at 11:00 AM PST. (that's sunny Southern California time).
If a car's asking price is met (or exceeded) the system will automatically mark the car "Selling All the Way."
When a car is marked "Selling All The Way" an email and text notification is sent to all members who are able to bid the car. The email is to remind you that the vehicle is selling when the bidding closes.
If you are the bidder on a car and you've exceeded the seller's asking price (reserve), we'll tell you in your bid confirmation email.
If the deal is "Dealer Inventory" then when the bidding closes, the system will automatically accept the deal on behalf of the seller and we'll go to work moving your car, title, and money.
If the deal is a "Fresh Trade" your account representative will contact you shortly after bidding closes (11:00 AM PST) to determine the status of the deal.

So, big changes around "Selling All The Way." As always, we want your feedback, especially if this doesn't make sense. iLuxCars - the only sensible way to trade.

Risk

2007-10-22T18:37:00.000-07:00

Halloween's a week away so we thought it was a good time to talk about something scary. No matter how long you've been selling exotic vehicles - this business is fraught with risk. Which is why members of the iLuxCars network should consider yourself lucky.

Successful businesses have to spend a great amount of their capital managing and mitigating their risk. Both human and real capital. Make the wrong choice, and you can be in real trouble.

Let's be honest - every wholeseller and dealer you have dealt with hasn't had your best interests at heart. If you've been doing this for even a short while, you have had your share of experiences where you had to chase down your money on a trade. You've had a car delivered that is less than promised. And you've had advice that put you into a car at a loss way before you had a chance to find a retail customer.

Even the auction isn't risk free. We've yet to meet a single frequent auction user who hasn't had at least one bad, expensive thing happen. Is that my clutch burning?

iLuxCars is all about eliminating your risk. Eliminating. You bid with NO risk. We backup the description, mileage, title, and condition. You sell with NO risk. If you don't get your price - don't sell. You get paid - by us - risk free. Every. Time. And, you get your car transported to you with NO risk. If the car falls off the truck we'll make it right.

Scary this business sometimes, isn't it?

Happy Birthday

2007-10-12T13:02:00.000-07:00

We turn 1 this coming Monday (October 15th). While the actual iluxcars.com site has been live for longer than that we really put our backs into the idea last October. So, our official birthday is October 15th.

Things have been literally speeding along (you may have noticed that we've been a little absent on the Blog recently, sorry for that). We will have signed up nearly 1000 member dealers by the end of 2007, and as far as we can tell, we're just getting started.

The way we see it, iLuxCars is not just a good idea, it is exactly the right idea. We're out there talking to our members every day and what we're hearing is that we've really hit on something. Our network represents not only the most important luxury and exotic buyers and sellers in the world, but, in our opinion, the best.

So while we're very young (officially 1 year old!), we have big plans for the future. Stick around - we can assure you that what we're planning is going to change the way this business works.

Happy Birthday, iLuxCars. The only sensible way to trade.

Site Updates

2007-09-11T10:37:00.000-07:00

We've made some changes to the application that address many of your requests. Probably the most significant is that you can now see deals that you bid but you, ahem, didn't win. In addition, you'll see the winning bid amount (which is, of course, a bit more than your bid) and if the deal was successful (Accepted).

You'll also see that we updated (slightly) the 'My Account' page. You'll see that it is a bit simpler, and it includes the 'Lost Bids' link under the 'My Transactions' link. All of this is an attempt to improve your overall experience while using iLuxCars.

Most importantly, you'll certainly notice a snappy new home page (after you login) with some Very Important Usage Information included. We've also shrunk the buttons a bit and added some great new pictures of fancy cars on the home page (because we just know that you can't get enough of that).

As always, we actually want your feedback - most of our changes are requests from our users.

Numbers

2007-08-28T07:24:00.000-07:00

There are a bunch of reasons your customers buy from you. At least one of them, we're sure (or we hope), is that you and your team are taking Good Care of the customer (maybe you're just fun to be around). No matter how great you are, at the end of the day, selling a new Ferrari, Lamborghini, Bentley, or other exotic car, is about making a deal.

We're from the same business, so we know a little about making deals. Selling cars, even really exotic, hard to get, highly desirable cars, still comes down to your ability to put the right numbers in front of your customer.

Part of this is the trade-in number. Not to overstate the obvious, but in order to make your deal, you have to provide your customer with enough money on their trade.

So how do you get the right number for the trade? Some of you just KNOW. Most of you have a local wholesaler that you can mostly or partially trust. Sometimes, we know, you guess.

The Point, of course, is to make your deal. This is also the Point, of course, of iLuxCars.

When you put your trade into the iLuxCars Network, most of the time the number you receive from the System will be the best number available ANYWHERE. In fact, 1 out of 4 times, the iLuxCars offer is good enough to be accepted. Again, for every 4 trades you submit to the System AT LEAST 1 of them will give you a number that helps make your deal. Really.

Get the best number - make your deal. Simple. It's just numbers.

Incentives

2007-08-10T17:02:00.000-07:00

We wrote a few weeks back about predictions. Our new research department has been looking at manufacturer incentives this week.

Many of you probably understand this trend, but it always feels better to have your ideas validated. So - prediction: new manufacturer incentives are driving down used vehicle prices.

Manufacturer incentives are good, right? The short answer is yes, but the current wave of factory incentives could push down prices on new and used cars alike.

iLUXCARS, through its extensive industry experience and (new!) Analytics Group found that generally, a $1,000 rebate on a new car translates into nearly the same discount amount on the used car value.[1]

With new incentives comes rising supplies of used cars. The time is now to take action – Move Your Used Cars!

Here’s Why…

Incentives usually mean that new car prices will go down, but also expect your supply of used cars to rise– squeezing prices and reducing the overall value of your used inventory.

First, incentives on new cars will make new cars cheaper, narrowing the gap between new-car and used-cars prices. This makes buying a used car less attractive to consumers, so dealers will have to discount them. Second, incentives on new cars will encourage consumers to trade-in their current vehicles to buy new ones, increasing the number of used cars on dealers’ lots. Dealers will have no choice but to cut these vehicles’ prices to move them, either directly to other consumers or at wholesale.

[1] Research from Kelley Blue Book and DMV.ORG confirm this trend.

Analytics

2007-08-07T16:19:00.000-07:00

July was another record month for us in many ways.

We hit more than a few milestones this month: the number of network members grew by over 10%; (we're on the edge of passing 600); the most vehicles were submitted in a single month; the most successful transactions between dealers were closed; and we created a new research department.

We now have a first-class department at iLUXCARS dedicated to analytics. The purpose of this is to understand and disiminate the wealth of data that we have and are collecting about the complex wholesale luxury and exotic vehicle market.

We're just getting started with this idea but we're betting that what we learn will be very valueable to the entire network. The point is that we're investing in iLUXCARS and the iLUXCARS network.

We'll keep you posted.

iLuxSafety

2007-07-17T16:18:00.001-07:00

For those of you still taking your luxury and high-line vehicles to auction, we ran into an interesting story today - "4 Injured In Car Crash At Auto Auction." If you want to see the video (not nearly as interesting as the iLuxMovie in our opinion), you can watch it on the Ocoee, FL local news station (Channel 9 - which is owned, incidentally, by Manheim).

We seriously hope that none of our network members were involved. If so, our sympathy. For those of you lucky enough to be missed by an out-of-control Cayenne, remember - iLUXCARS solves many of the problems with selling your vehicles at auction including cost, time, and occasionally some very real danger.

While this is probably an extreme example, we're pretty sure that using iLUXCARS has never involved risking your life.

Like we keep saying - the only sensible way to trade.

We ought to be in pictures

2007-07-03T14:09:00.000-07:00

We made a movie. Really. Hired an actor and everything. The Big Idea is to clarify what it is we do to those of you who aren't 100% sure and to explain what it is we do to dealers who aren't yet in the network (poor people).

If you aren't that active on the site (and why not?) or if you just want to spend some informative, yet entertaining time hearing about the only sensible way to trade (that would be us), you can watch it here: http://www.iluxcars.com/Apps/iLuxCars/Content/iLuxMovie.htm.

(It takes a few seconds to download, don't worry.)

The movie will tell you that we are now the largest online network dedicated to luxury and exotic dealers. And, we're really just getting started. We plan to double the size of the network in the next several months.

So, for those of you who didn't get an iPhone, don't own an iPod, and have never seen an iMovie - don't worry - we're happy that you are part of iLUXCARS.

Focus

2007-06-29T10:37:00.000-07:00

Starting and running iLuxCars has been nothing short of frantic. Exciting. Challenging. Fun. Exhausting. As some of you know, we now have the largest community of luxury and exotic dealers on the Internet. And people are signing up every day. Every. Single. Day.

Our Single Biggest Issue - hang on, transport needs the keys to the red 430 across the way. OK, I'm back. Hold on, the BIG printer is out of paper. Whew - we're growing. Fast. It's busy here.

Many of you have done what we're doing with your business. And, as you know, on some occasions you get so busy you forget to tell your customers what it is you really do.

One needs to focus. Obviously, the focus of iLuxCars is about helping you sell your vehicles wholesale. But, what we're good at - very, very good at, is helping you make your deal by buying your trades at good prices. Of course we're a great service for wholesale of your luxury and exotics that you already own, but that isn't our focus.

To be absolutely sharp about it - iLuxCars buys, at absolutely the best prices anywhere, any trade as it is happening. If you are making a deal that involves a trade of a luxury vehicle, most of the time we will get you enough money - fast - that it will be more profitable for you to wholesale the vehicle than it would to put the car on your front line.

Because this is important - we're sharpening our focus - we'll repeat that: Most of the time it will be more profitable for you to wholesale your trade through iLuxCars than it will be to put it on your front line.

You want to know why we're so sure of this? Because iLuxCars was originally created to solve this problem for the Ferrari and Maserati dealership group of Southern California. The process and costs involved in taking a car on trade, recon, management, and marketing all the time dreaming of a retail customer somehow turning our depreciating asset into some real money simply doesn't pay. The margins are too low. The risks are too high.

We're not saying that wholesale is the only answer. What we are saying is that because of the size and breadth of our national network, wholesaling your vehicle through iLuxCars is often the more profitable choice.

As usual, we're always happy to hear from you. We'd love to discuss this, or any, topic, any time. After all, we're working on focus.

Predictions

2007-05-22T10:54:00.000-07:00

We predict potential outcomes based on actions every day. If I speed in my car, I have a high likelihood of spending a weekend in traffic school. If I choose to eat an entire pizza at lunch every day I can predict I'll need new jeans on a more regular basis.

Each choice and potential outcome are part of our life's data set. The amount of data is relatively small, and the potential outcomes are well-known. We don't give the decision process much thought.

Many data sets we collect and use in our day to day lives and businesses are not as easily analyzed. They require a more expert analyses to form a reasonable prediction. Not all patterns are easily recognized; many contain seemingly unrelated data.

Making predictions on luxury vehicle values can be a squishy problem without proper data and proper analysis of that data. How will the new model year affect the numbers? What about lease returns? What's selling today and at what price? Who's selling and who's buying?

At iLuxCars, we have a great deal of data about what the numbers are and will be. We're constantly collecting this data. In fact, we feel that it is our most important job to analyze and refine this data and improve our predictions as it relates to this data. We're the expert opinion in this case, and it's our mission to recognize the patterns and share that information - predictions - with the network.

As a member of the network, you have access not only to fast, competitive wholesale numbers on luxury vehicles, but also our expert predictions on when you should buy and when you should sell (which is often more important).

Let's Make A Deal

2007-05-17T21:52:00.000-07:00

We've introduced something completely new and very likely brilliant this week - it's called Swap. You'll see it on your home page when you login.

Swap is a way for you to negotiate both a sale and a purchase at the same time. It allows you to negotiate with other dealers who have something you want to own.

It works like this: Say you own a white, 1999 Arnage with 50,000 miles and you are into the car for $62,000. The car is sitting on your lot, in your inventory, using your cash doing precisely nothing. Next, assume you have a customer that is dying for a silver '05 or '06 Ford GT. With the new Swap - you get to make a deal.

Enter your vehicle the way you normally would, but choose Swap on the page where you enter the type of deal and asking price (Swap, $62k). Next, in the swap list, choose the silver GT on the left, your priceless Arnage on the right, and click Finish. That's about all there is to it.

If you are the lucky owner of the silver Ford, you'll get an email (we can almost hear the moaning out there) from the system letting you know that there is a Swap Proposal for your vehicle. If you like the numbers, login and click the Accept button and both deals are made. If you don't like the numbers (small chance) you can change them.

Both of them. Just to be clear, you can suggest a different price for the '99 Arnage and/or a different price for your car. Each time you do this the other network member is notified and they have a chance to accept or counter.

Once you accept the other network member's proposal, we immediately begin the process of arranging payment and transportation for both vehicles. And, as you would expect, all fees and transportation are included, along with the iLuxCars.com guarantee - payment, title, and condition.

Happy trading.

Over Communicating

2007-04-25T15:24:00.000-07:00

We've received a few complaints from members about duplicate email notifications on vehicles. Our first reaction was to scour our logs and databases to find the bug that sends more mail to some members than others. Well, we scoured, and found, quite happily, that we don't have such a bug.

We do realize it still looks like a problem with our system. So, for those of you who really care, here's some possible reasons:

Forwarding loops
Internet Glitches
Mail client settings to POP3 accounts

Forwarding Loops
A forwarding loop can occur when you have at least two mailboxes, say "A" and "B." Mail received on "A" is forwarded to "B" and mail received by "B" is forwarded to "A."

If you are forwarding email from one server to another, this may be the reason.

Internet Glitches
If our server (or any server) that that handles mail delivery sends an email but does not receive an acknowledgement of its arrival in sufficient time, the sending server assumes the mail didn’t arrive and sends it again. The problem is that the first mail was probably received OK and it will be delivered to the persons mailbox. Then, the second mail would arrive shortly after.

The reason for the internet glitch can be exacerbated if forwarding is configured.

Mail client settings to POP3 accounts
For this category, We’ve read about a number of scenarios where there are multiple POP3 accounts and Outlook or Outlook express is set up to download the messages, but leave a copy of the message on the server.

In this mode, Outlook or Outlook express has to maintain a database of the messages that have been downloaded, so it doesn’t try to download the same one again. Occasionally this database can be corrupted and result in duplicate emails being downloaded.

There have been email duplication issues caused by Outlook 2002 prior to Service pack 2 of office.

Organization

2007-04-06T15:34:00.000-07:00

We all could do with a bit of help these days with organizing our lives. At iLuxCars, we're keenly aware that you are receiving more and more emails (and text messages) from our system every day. As more and more dealers join the network more and more email is being sent.

Most of our team has created a simple set of Outlook rules to help move all of the email from the system into a single folder. We thought that it might make your lives a bit eaiser as well, so we've outlined the steps in this document. (You will need the Acrobat Reader to view this document).

Click here to read the super simple instructions.

It's getting hot in here

2007-03-15T13:23:00.000-07:00

I don't know how many of you caught the Today Show the day Punxsutawney Phil predicted a short winter. Even though it appears the uppity groundhog was a bit off (there was record-breaking snow in the days following Phil's scientific prediction), winter is clearly on it's way out.

At iLUXCARS, we're already seeing an increase in demand for vehicles throughout the country, especially for those of you unlucky souls who have to suffer through winter. (Our corporate headquarters, as you probably know, is in sunny Costa Mesa, CA.)

Our take on all this - everyone is looking for cars. Even accounting for the outstanding growth in the iLUXCARS network, we're already on track to have another record month.

To paraphrase the famous Pennsylvanian rodent - It's getting hot in here.

March Madness

2007-03-15T12:45:00.000-07:00

Filled out your dealership's March Madness pool yet?

Here's how it typically works around here:

You spend hours researching all 64 teams and turn in your completed bracket after a kiss for good-luck.
You call in "sick" so you can watch each one of your teams lose by the end of the first weekend.
The person that wins your pool every year is the girl who picked the teams based on jersey colors.

While we really don't have time for this sort of distraction, we do like to remind all of you that even though we're adding dealers faster every day, we are aware of the important things going on in the world. These are (from the iLUXCARS perspective):

The real value of late model Aston Martins
How to make our site even better looking (hard, we know).
Will any of us make any money on the final 4.

Boom

2007-03-08T16:03:00.000-08:00

We had an explosion today near our corporate headquarters in Costa Mesa. Seriously. We're working away, writing code and taking bids and the whole top floor literally shook. As much as we would like to think that it was caused spontaneously by the remarkable activity on iLUXCARS, we're not prepared to take full credit - at this time, at least.

The trade floor was truly buzzing today - a record day, but, like we said, not enough to cause an explosion. At least, as far as we know.

Just so you know, nothing was damaged. Our web site is actually running in a nearly indestructible, fantastically redundant location near Pleasanton, CA. Also, we did a full safety check - trade floor, engineering, marketing, arbritration, even art - all fine. (We haven't heard directly about the team in the logistics group, but we're not worried - if anyone can handle it, they can.)

Facelift

2007-02-28T15:06:00.000-08:00

As many of you have probably noticed, we've done a bit of a facelift on the iLUXCARS.com site. As usual, we LOVE feedback, good or bad. If for some reason you have haven't seen the new, new thing (likely because you've told us to remember your password), click "Log out" from within the application (top right corner) and you'll see what all the fuss is about.

Along with the cosmetic improvements we've added a new view under My Account\My Accepted Transactions and My Account\Purchases Won called Deal Resolution Status. This page is for you to track all aspects of a deal after you have bought or sold a vehicle. This means things like approximate pickup date, delivery date, title status, check status, etc. Again, we would love your comments.

It's a Seller's Market

2007-02-22T12:44:00.000-08:00

We're seeing unique numbers this month. The number of successful transactions (the number of deals that are accepted by sellers) is up over 80%. (Even ignoring the fact that it's a short month, this is interesting.)

While we believe that a good part of the reason for the jump in successful transactions is simply the overwhelming value of iLUXCARS, it is clearly a good time to be a seller. Not only are the numbers telling, but, and much more significantly, we're hearing from you that you are looking for cars to buy.

Literally everyone we talk to wants to buy. Unique. So, got anything to sell?

Site Changes

2007-02-20T09:42:00.000-08:00

We’ve been extremely busy over the last 6 weeks. The network is growing faster than we expected, and we’re getting more vehicles every day. The most encouraging aspect of the whole process is that the percentage of successful transactions is growing faster than even we expected (and we’re terribly optimistic).

Given all of this (great) activity – we have been unable to make personal contact with everyone in the network. We’re working on this diligently, and we promise to connect with each one of you over the next couple of months.

At the same time, we’ve been just as busy working on the technology. The most visible change was rolled out last night (February 19th). We’ve moved all of the pages related to your account (Transaction History, Profile, Requests, Notifications, Issues, and Preferences) under a new, consolidated link on the main page called “My Account.”

We’ve made the change because some of you have mentioned that finding these items is either hard or impossible due to your screen resolution. So, we’re trying to both accommodate a smaller resolution and make the application simpler to use.

iLUXCARS - the only sensible way wholesale luxury and exotic vehicles.

Resolutions

2007-01-02T16:13:00.000-08:00

We've completed our first year at iLuxCars. It’s been an interesting drive. We started, on purpose, cautiously. We weren’t sure about several things, not the least of which was how we could ensure a great experience every time you bought or sold a vehicle.

We know that there is a good deal still to work out. For instance, we’ve know that transportation is still pretty fuzzy to most of you – that is, we’re still getting quite a bit of, “When will my car get here?” and, “What do you mean release the car without a title?”

Towards the end of the year we started putting our backs into the idea. And we can say now, with confidence that it’s working – working well. The feedback we’re getting from most of you has been overwhelmingly positive. While we have always been sure the market needs a flat, open, fair, and efficient marketplace for luxury vehicles, it’s reassuring to hear it from you.

We also hit some milestones last year that we just have to share. (We would have shouted about this earlier but we were busy). So, here’s a few interesting statistics, all since May of 2006:

250 dealers
Over 100 million dollars worth of vehicles submitted
Average sales price: $91,722
Average Bid to Target: 92% (this means that on average, your asking price is about 8% high, although a good number of you are still overly optimistic)

For 2007, we’re resolving to do more. We promise to get a clear, readable user agreement to each and every one of you. We will fully explain and solve transportation. We will add more cool and useful features to the site. And, most importantly, we will continue to guarantee title, condition, and payment.

How much is that Lamborghini?

2006-12-19T08:49:00.000-08:00

For those of you who play with Lambo’s…or who would like to, here’s some feedback that we’ve found from our recent experiences with Lamborghini’s that you might want to chew on:

There are cars that can be bought for $10,000 back of sticker which used to be $10,000 over sticker a month ago.
Lamborghini’s LP 640 seems to be cooling off a little on the wholesale market.
Gallardo Spiders seem to be doing $15,000 to $20,000 back of sticker for 2006 models, and 2007 models are $10,000 to $15,000 back of sticker. Of course, this applies to cars with short miles, (under 1000), cars with higher stickers and more miles may be even further back of sticker.
2006 Gallardo Coupes are doing $160,000-$170,000.
2005 Gallardo Coupes are doing $145,000-$155,000, depending on equipment and mileage. Cars with clear bonnets are more valuable.
2004 Gallardo Coupes are still holding strong in the low to mid $130’s, with up to 7k or 8k miles, and E Gear transmissions…6 speeds are about $5,000 less.
1997-2001 Diablo’s are on fire if they have less than 10k - 11k miles. These cars have gotten hot in the last few months again.
COLORS: For some reason there are a lot of silver cars available on the market, and they are bringing less money than yellow, orange, green, and black.

Remember, iLUXCARS is here to help you make it happen…and happen quickly! Put us to work. It takes less than a minute to submit your Lamborghini to iLUXCARS, and less than 1 minute to bid any Lamborghini that you’re interested in. If you need more info on vehicles, or just some assistance logging on, don’t hesitate to give us a call at any time. That’s what we’re here for.

Holiday Spirit

2006-12-12T15:46:00.000-08:00

We're in a holiday mood here at iLUXCARS. Because of that, or maybe in spite of that, we've decided to entertain you with some holiday car trivia, loosely based on the numbers 1 - 12, starting today and finishing in, well, 12 days.

The First day - #1 most expensive production car of the 20th century
The Second day - German Tiger 2 tank in WWII
The Third day - 3-wheeled BMW Isetta
The Fourth day - Ferrari P4
The Fifth day - Bentley returns to Le Mans for a 5th win

The Sixth day - Classic James Bond – 6 Aston Martins share the limelight

The Seventh day - Rolls Royce helps drive to victory after 7 years of struggle
The Eighth day - Over $8 million at auction – Bugatti sets a record
The Ninth day - Just 9 miles from the Maserati factory to the Ferrari factory.
The Tenth day - Ferruccio Lamborghini owned Automobili Lamborghini for 10 years.
The Eleventh day - 11 years ago Maybach returned.
The Twelfth day - 12-litre class win for a 10-litre Maserati.

Auction Tales

2006-12-11T10:47:00.000-08:00

Think before you send your exotic cars to the auction.

We have found that the auction is a good place to dispose of cars with a value of up to about $70,000. Beyond that number, our experience over the years has rarely been good. (Actually, we’re being polite; it nearly always sucks.) It isn’t immediately obvious why it’s so bad. There is always a crowd around exotic cars – everyone wants a close look. Unfortunately, there are only a handful of actual buyers. When the cars do come to the block everyone crowds around – again, no bids, or, if you do have live money its thousands below what the market.

If you haven’t thought in detail about what it’s costing you to send your exotic cars to the auction and not sell them, let us break it down for you:

Detailing: We all detail our cars to make them look good for sale day. Average cost: $125.
Trucking: We have to get the vehicle to the auction. Average cost if auction is nearby (within 40 miles): $125.

No Sale Fee: (or as the auction calls it the fee to check the car into the auction): $100. (This is the fee for most auctions, some are more).

Return trucking: $125.

If we add these up it costs a minimum of $475 per car plus whatever your time is worth to waste a day arranging this spectacular success. (not including gratuity for people working at the auction on your behalf, conspicuously contributing to your bottom line.)

These are hard costs -- $475 to not sell your $70,000 plus car at auction. If we’re honest, this is only part of the problem. The auction, unlike those of us with iLUXCARS, is not your friend. The auction cares about sales percentages. A low sales percentage means crappy numbers for your next sale.

So, $475 out-of-pocket, a day wasted, and bad numbers for the next sale. This is assuming your keys haven’t been lost yet by the auction (don’t ask) and the car is actually in its correct run number. And, do not let us forget those talented auction drivers bringing your cars through the block. A clutch is a terrible thing to waste.

So you have a choice – you can cross your fingers and hope you have a real buyer in the crowd and a good auctioneer the next sale day, or, you can cut out all of the costs and headaches and sell your cars through us. Selling your car through iLUXCARS gives you access to the largest nationwide network of buyers for luxury and exotics in the world. And, if you don't sell it, it will cost you exactly nothing.

At iLUXCARS, we guarantee the money, title, and condition of the car. We also ship the car to your door so the risks of damage to the car in transit don’t apply to the buyer or the seller, only to iLUXCARS.

On-time payment, delivered, risk-free, guaranteed. Or, there's always the auction.

The way things work

2006-12-06T13:41:00.000-08:00

We've had some confusion lately about when you are required to release a vehicle to our transport after you have accepted our offer. In particular, there are a few of our network members who want to wait until they receive title before the vehicle is released. As you probably have gathered, the reason for this is that we want to get the vehicle on the way to the buyer as soon as electronically possible.

So, and just to set the record straight, you are required, according to the user agreement, to be "legally capable of providing full ownership of the vehicle upon completion of the transaction."

What this absolutely does not mean is that you have to have title in hand. Rather, you just need to be capable of providing us the title. Remember, iLUXCARS is owned and backed by the Ferrari and Maserati Dealership Group of Orange County, Newport Beach and San Diego.

The Most Important Thing To Remember is that iLUXCARS guarantees payment and title. Questions? Give us a call anytime, we're looking forward to proving that iLUXCARS is the only sensible way to trade exotic and luxury vehicles.

Vehicle Colors

2006-12-01T13:00:00.000-08:00

The iLUXCARS database has detailed information in its database for most vehicles. There are over 1,000,000 color records alone. However, we still run into the situation where the color of the vehicle you are entering isn't in the list. We allow for you to type a color combination of your choice in this situation (or any situation), but we've found that many users were aware of this.

As you would expect, deep within our engineering organization, we’re very troubled by this. Our first reaction was USER ERROR. We calmed down (eventually) and reluctantly started a design session to solve the problem. We talked, met, filled white boards, ate pizza, drank gallons of coffee, and finally came up with this: we'll just tell you about it.

So, here goes: you can type your vehicle colors if you don’t see the correct colors in the list.

We also decided (in a fit of design generosity) that we would put a watermark into the box where you type that says "Choose (below) or type the color", which many of you have already seen, but for the very few of you who haven’t visted the site today, it looks like this:

Accurate vehicle information is critical to the whole network, of course, so in the (rare) case where you don't see the correct color, type away, we'll get your meaning.

Issue One

2006-11-20T16:32:00.000-08:00

We started something new this week - the iLuxUpdate and the iLuxCars Blog. (Actually, we just sent this out today, December 6th. Last month was a record month for us, and we got just a bit behind.) We're going to send it out to our members via email and publish it here as well.

For those of you who don't know what blog, RSS, syndication, mash-up, or Web 2.0 stands for (that is, those of you who are over 18 years old), think of it as an online newsletter, a "column" dedicated to free (and useful) information about luxury vehicles.

The iLuxUpdate is a way for us to share interesting and often valuable information about the luxury car market from our perspective. It is not shameless self-promotion (well, OK, just a little) but rather a way for us to let you in on a little of our extensive knowledge (we're modest too) about the wholesale luxury market.

Bentley GT's

2006-11-20T12:47:00.000-08:00

As many of you probably know, we see more than just a few luxury cars every day. And, we're pretty tuned-in to what a vehicle is worth at any given moment. This week we're letting you in on some of this data, all of it related to Bentley. So, here goes:

The new GTC is on Bentley showroom floors right now and will be the hot car to buy over the holidays. These cars are selling for $40-$55K over sticker new.

If you have had a hard time getting your hands on Bentley GT’s, now is the time to buy. For those of you still holding onto you Bentley Continental GT’s, the market is telling us that it’s a good time to get out of those vehicles if you’ve got too many on your showroom floor. Over the past two months, the market on the GT has softened up tremendously.

Also, we're seeing some interesting price data (both via our network and external data) on these cars. It looks like this:

06's with good miles are bringing $148-$155.
05's with good miles are bringing $128-$135.
04's with good miles are bringing $118-$125.

These prices are for cars with good miles (up to 13k) and normal colors (moonbeam, beluga, silver tempest, white. Not red or green.) If the mileage is greater than 13 adjust accordingly. There are a lot of GTC’s slated to be delivered in December. Any mulliner packages you can add an additional $5000 to the price.

And that's it. More to come, we promise, and on a slew of interesting topics.