Sage Rank™
About This App
- The Sage Rank app uses advanced logic to grade and interpret where a vehicle’s price and mileage combination place it in the current market inventory.
- Understand how far a vehicle’s price falls out of the normal, expected value, for vehicles of its mileage.
- Use the Sage Rank, Venn diagram like value ranges or ranks, to understand the intrinsic merit of a vehicle.
How It Works
- Submit a VIN, the vehicle’s price and actual mileage.
- The app uses the Sage Range system to define the market distribution in terms of price and miles.
- It extrapolates the ranges for the submitted price and mileage and combines them in ranking terms as to where the vehicle fits in the current market inventory, with interpretive comment regarding the rank.
How To Apply This App
- Sage Rank divides the market inventory into thirteen possible, Venn diagram like value ranges or ranks, as a function of a combination of price and mileage. These rankings can be used to determine a vehicle’s deviation from the market inventory’s distribution of price and mileage.
- Statistically, the Sage Rank indicates how distant a vehicle’s price and mileage are from expected values. Logic dictates that the lower the mileage the higher the price, all things being equal. Measured against the market inventory distribution a vehicle’s price and mileage ranges, in combination, should match up to their expected location in the market inventory distribution. The Sage Rank measures conformity to this logic and indicates how in or out of line a vehicle’s combination of price and mileage are with the market.
- The Sage Rank is a relative value, not an absolute statement on value. For example, a vehicle with the lowest mileage and lowest price ranks plus 6. And it is described as extremely favorable. However, a rank of plus six can also raise a red flag as being too good to be true. Or it simply could be the fair value of a low mileage accident car. Mispriced vehicles may represent everything from a buying opportunity to a vehicle whose price is in need of substantial justification.
- The Sage Rank app uses the Sage Range system to evaluate a vehicle’s position in terms of the overall market distribution density for both price and mileage. The Sage Range system defines a vehicle’s range in terms of its price and mileage distance from the median as compared to the overall market inventory. Sage Range locations are overlaid to generate logic driven ranks.
- Ranks can also be evaluated in terms of their market prevalence, or percentage. The majority of vehicles fit into the zero to +/- 3 ranks.
- The Sage Ranks are as follows (view the Sage Rank charts):
- Sage Rank +6 = Extremely Favorable
- Sage Rank +5 = Exceptionally Favorable
- Sage Rank +4 = Very Favorable
- Sage Rank +3 = Favorable
- Sage Rank +2 = Marginally Favorable
- Sage Rank +1 = Minimally Favorable
- Sage Rank ~0 = Expected
- Sage Rank -1 = Minimally Unfavorable
- Sage Rank -2 = Marginally Unfavorable
- Sage Rank -3 = Unfavorable
- Sage Rank -4 = Very Unfavorable
- Sage Rank -5 = Exceptionally Unfavorable
- Sage Rank -6 = Extremely Unfavorable
- The typical market inventory percentage of Sage Ranks are as follows:
- Sage Rank +6 = 0.05%
- Sage Rank +5 = 0.6%
- Sage Rank +4 = 3.4%
- Sage Rank +3 = 9.3%
- Sage Rank +2 = 13.2%
- Sage Rank +1 = 9.9%
- Sage Rank ~0 = 27.1%
- Sage Rank -1 = 9.9%
- Sage Rank -2 = 13.2%
- Sage Rank -3 = 9.3%
- Sage Rank -4 = 3.4%
- Sage Rank -5 = 0.6%
- Sage Rank -6 = 0.05%
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