How would one aquire an objective value if that were the case, as surely the highest value a person is willing to pay for a car is it's objective and subjective value?
But my point is that what people are prepared to pay is heavily influenced by what the buyers guides tell them they should be paying
As is the "Sticker price" that used car dealers put on the windscreens.
I have found that the only way to find the real current value is to look at the sales from past 30 days. Take 10, and average them.
You end up with a pretty decent idea.
See above. The whole thing is circular logic, with the main driver being what is printed in glasses gude.
Consider this.
What is the difference between a Vehicle and a Building?
They both cost a lot to buy, typically both will require some sort of loan. Few people are able to buy outright.
They both cost a lot to maintain,
They both deteriorate over time as components wear out, which then costs more money to repair and replace.
Commercial "Deprecation rates" (Write-down allowances etc) for buildings are actually not that far off what people accept as a matter of routine for vehicles.
And yet buildings tend to go up in value over time, Vehicles values go down, sharply!
We have a culture that accepts rapid loss of value in vehicles, especially over the first two to three years of ownership from new, and a steady increace in value for buildings. but it is just cultural. In Adam Smiths day, a second hand, run in, machine was actually considererd to be rather more valuable than a new one.
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