What is the point of Parkers valuations?

[eidolon]

I've just been doing a bit of research into the value of my car and had a thought. What exactly is the point of Parkers? Dealers don't take any notice of it, they use Glass's which differs quite a bit. The values for private cars differ depending on location (cars can be more expensive/cheaper in the North/South) so I just don't see who it's aimed at.

As an example, the Parkers app on my iPhone reckons the following (55 plate Boxster S, 31k, 19" alloys, sports exhaust)

Original Price - £40,381
Franchise Dealer - £22,854
Independent - £22,069
Private Good - £20,699
Private Poor - £16,915

What Car reckons the following

But I'm betting that Glass's is a good couple of grand less than either of those (anyone got one handy?)

 

[monkey_boy]

Does the vauxhall version give the same result as a dealer's access would?

 

[[TW]Fox]

I've always thought that What Car? valuations are completrely and utterly random.

 

[Thebug]

http://www.vauxhall.co.uk/vaux/pages/finance/valueYourCar/index.jsp

 

[Meridian]

Insurers use (or at least used to use) Parkers.


M

 

[eidolon]

http://www.vauxhall.co.uk/vaux/pages/finance/valueYourCar/index.jsp

Doesn't cover Porsche so I can't compare.

 

[eidolon]

I've always thought that What Car? valuations are completrely and utterly random.

Exactly. So who are they aimed at?

If anyone advertised their car based on that valuation they'd never sell it.

 

[stoofa]

Your "What Car" valuations are around £2k less.
However the "Original Price" on your WHat Car valuation is near enough £2k less - so as a percentage it all adds up.

 

[[TW]Fox]

However the "Original Price" on your WHat Car valuation is near enough £2k less - so as a percentage it all adds up.

Oh well thats ok then, that'll help him price his car

 

[energy]

What is the point of any car valuation service?

If I want to sell a 2005 Accord 2.2 with 60,000 on the clock, all I need to do is look for other 2005 Accord 2.2s with 60.000 on the clock.

Parkers or anyone can say its worth £6k but if people are selling theirs for £5k then surely thats what they're worth?

 

[[TW]Fox]

What if two people are selling for £10,000? Are they then worth £10,000 or are the other two people dreamers?

 

[Sin_Chase]

It's worth what someone is willing to pay. No more, no less. You should not care what any valuation website says.

If you can command 5 grand over the "valuation" then grats to you. If you cannot sell it for 5 grand less, it's sucky but that's life.

They are good to give you a ballpark figure if you are too lazy to check out the market for yourself.

 

[lordrobs]

What is the point of any car valuation service?

If I want to sell a 2005 Accord 2.2 with 60,000 on the clock, all I need to do is look for other 2005 Accord 2.2s with 60.000 on the clock.

Parkers or anyone can say its worth £6k but if people are selling theirs for £5k then surely thats what they're worth?

Exactly, you find the general pricing range for similar cars and place your car where you think it fits within that.

 

[Jez]

What is the point of any car valuation service?

If I want to sell a 2005 Accord 2.2 with 60,000 on the clock, all I need to do is look for other 2005 Accord 2.2s with 60.000 on the clock.

Parkers or anyone can say its worth £6k but if people are selling theirs for £5k then surely thats what they're worth?

Exactly, this is how i have always valued cars, both to purchase and to sell. Where a paper copy of Glass' is good is if you are in a situation where you cannot quickly and easily check autotrader for examples, ie at an auction house and buying on a whim, or at a roadside - both rare for most people. This is also becoming somewhat irrelevant with the carrying of an iphone for example with mobile internet.