HOW TO DETERMINE AUCTION BID AMOUNT -part 1 (AKEBONO)

In order to determine the bid amount, first thing to check, is the auction statistics .


Auction statistics for this car shows 998,000 JPY

Auction statistics automatically checks following points to determine the average sold price:


1) Registration year

2) Auction grade

3) Mealeage

4) Model (Chasiss)


Important: Auction statistics will not check the car Grade. For some cars price does not change depending on car price, but for some models car price changes drastically , based on car grade.


For instance in above picture statistics shows the average price is 902,000 JPY. However, this car grade is NISMO E-POWER and the selling price for Nismo Note is 1,300,000-1,400,000 JPY.


Other examples, there depending on grade price changes drastically (turno or non turbo):

Toyota Chaser

Toyota Crown

Toyota Mark II

Toyota Cresta


Statistics show 2,000,000 JPY for above car. However above car's grade is WRX 22B STI. The car is a 1998 Subaru Impreza 22B STI, one of just 424 examples made, all of them with right-hand drive. What makes the 22B STI so special? In the 1990s, Subaru was the manufacturer to beat in the world of rallying, thanks in part to the efforts of star driver Colin McRae. The success saw the launch of the first Impreza WRX, or World Rally Experimental, in 1992, and the first Impreza WRX STI two years later. The selling price for above car is 18,600,000 JPY.


The second point to check the same cars which were sold with the same year, model, mealeage and the auction grade.



Statistics show us the average of 110,000 JPY. However some cars with same characteristics were sold from 75,000 JPY to 90,000 JPY. Thus we can assume that bid of 90,000 JPY is quite good for above car.


The third point to check is the sales statistics of the car being auctioned. Some cars are being auctioned several times.




In example above, car was auctioned 5 times and the owner did not sell it for 2,020,000 JPY. One can assume that there owner doesn't want to sell the car less than above amount.


Read more: https://www.akebono-akb.com/blog


#auction_statistics #used_car_auction #used_car_market_price