Used Supercars Selling for Bargain Prices
Photo of 2013 Chevrolet Corvette courtesy of GM.
Exotic and high-end luxury cars that sell for more than $75,000 in some cases have been giving buyers significant bargains when they sell at auction, according to recent data from Black Book.
Eight vehicles selected by Black Book illustrate the trend, including the Aston Martin DB7 that retails for $130,000 when new. DB7 cars from the 1997 to 2000 model years have been selling for $25,000 to $30,000, while those from the 2001 to 2003 model years have been selling for $30,000 to $40,000.
The Bentley Arnage, a large luxury sedan that retailed for $225,000 and ceased production in 2009, has been selling from $25,000 to $40,000 for 1999 to 2004 models.
The Mercedes-Benz SL, which retails for $95,000, has been selling for as low as $15,000 and up to $30,000 for 2001 to 2008 models.
Several other vehicles below the six-figure level have also been selling at bargains, including the Dodge Viper RT/10, Jaguar XK8, and Chevrolet Corvette C5 and C6. The Viper, which retails for $75,000 new, has been selling for between $20,000 and $30,000 for 1993 to 2004 models. The XK8 sells for $70,000 new and has been selling at auction for as low as $7,500 to $10,000 for 1997 to 2003 models, and $10,000 to $20,000 for 2004 to 2008 models.
The Corvette C5 from the 1997 to 2004 model years has been selling for $15,000 to $20,000. It retails for $45,000 new. The C6 from the 2005 to 2013 model years has been selling for $25,000 to $35,000. That vehicle sells for $50,000 new.
The Porsche Boxster, which sells for $45,000 new, has been selling for as low as $7,500 to $10,000 for 1997 to 2001 models and $10,000 to $15,000 for 2002 to 2005 models.
In the classic-car category, a Pontiac Trans Am that sold for $30,000 new is selling for $5,000 to $10,000 for 1993 to 2002 models.