Market Value
About This App
- Pull the fully updated market inventory basic stats for any Marque + Model + Submodel + Body specification.
- Includes the market counts, average and median price, average and median mileage and high and low prices for the selected spec.
- The statistics are updated daily to reflect the changes in the market inventory.
How It Works
- Submit a VIN or step through the build spec selector.
- The app pulls the market inventory matching the submitted spec and segregates inventory which is priced with mileage from inventory which is missing this data.
- Using the filtered data it calculates price and mileage stats and displays the results.
How To Apply This App
- Learn the average and median market price and average and median mileage for the market inventory to gain an understanding of the general market inventory.
- Compare the market average price to the market median price to gauge the market’s relative strength or weakness.
- In a perfectly balanced market the average and median price would be the same. Typically, this only occurs at the moment in time when the average and median price lines cross. When the values are close, this generally indicates a balanced market with or without a specific trend.
- If the average price is above the median price the majority of the market inventory is priced below the average price. Some number of vehicles are incorrectly priced above the center point of the market and are skewing the market average upward.
- If the average price is below the median price the majority of the market inventory is priced above the average price. Some number of vehicles are incorrectly priced below the center point of the market and are skewing the market average downward.
- To learn more about the relationship between average and median prices and the importance of understanding this spread, read the ‘Enhance Price Timeline Chart – What To Know About This Chart’ or view the video
- Median price and median mileage are the correct measuring sticks for supercar valuation, as supercar market inventories tend to have many outliers. These outliers distort the real market picture often rendering averages meaningless. This is the reason why key monetary metrics such as housing prices, income and net worth are measured using medians. Only median values can reliably measure where the actual supercar market is.
- Vehicles priced significantly higher or lower than the median price require explanation for their pricing.
- Evaluate the spread between the high and low price. A large spread indicates to only use the median price for valuation purposes as outlier pricing on some vehicles is skewing the market average. A tight spread indicates a tight market with few outliers.
- If the average mileage is above the median mileage most vehicles in the market inventory are below average mileage.
- If the average mileage is below the median mileage most vehicles in the market inventory are above average mileage.
- To evaluate average to median price spread pattern trends use the Market Price Enhanced Timeline Chart.
- To evaluate where price or mileage for a vehicle fits into the market inventory use the Market Inventory Snapshot Chart.
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