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Value of my Sig?

Discussion in 'Model S' started by Jgdixon, Nov 25, 2014.

  1. Jgdixon

    Jgdixon Member

    Joined:
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    Location:
    Burlington, Ontario, Canada
    Guys I'm looking for some opinions and advice.
    My Canadian P85 red Sig has been for sale for some time now.
    i have a P85D on order that is due for delivery on Dec. 22
    As most have experienced Tesla gave me a low ball trade amount so it is posted on autotrader.ca, on Facebook and here in the marketplace. Basically asking 80k CDN or 70k U.S.
    I have had a few inquiries but no serious offers worth considering.
    It has been confirmed that Tesla will service it in the States and the 3G should work too.
    Ideas?
    Speculation amongst others who are in the same boat is that the lowered prices on loaner and demo cars is one reason, or people are waiting until we are desperate to lower the price (I will negotiate but not giving it away)
    I honestly thought people would jump at a chance to get a reasonably priced red Sig P85 with the white interior.
     
  2. FourBucks

    FourBucks Member

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    I was checking out Auto Trader this morning and saw your car. Looks really nice! Unfortunately, I'm waiting for an X otherwise I'd jump all over that. The market will decide my friend. Good luck!
     
  3. iadbound

    iadbound Member

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    I'm reminded of what my realtor liked to say: you only need one buyer.

    I can't help but wonder if the universe of used Tesla buyers is all that big. Couple that with the sudden "glut" (overstating a bit) of used Tesla's on the market do the race over to the P85D, and I suspect getting a sale sorted out -- even of a Sig may take a while.
     
  4. 3mp_kwh

    3mp_kwh Member

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    I think you're under the market, given Newport Beach's Phillip's Auto had one w/9k miles, on Black, that listed for 92k and sold to what I was told was a Dutch customer within 2 weeks, in Sept. I was going over the car, from the east coast. Watching the usual sources, I only remember seeing one Ebay'r (TX?) list for 95k no sale, and another Canadian, in late Spring, whose sig red car I think was not a "P", and whose "must sale" ended somewhere higher in the 70's. If I had to judge, I'd say east coast prices are cheaper, and Canadian prices cheaper still. Desireable car, but not the place you'll get as much interest. Don't rule out a wise west coast dealer offering you something competitive. Phillips?
     
  5. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    As I noted on your for-sale ad, you've priced it very well. It does seem like geography is not in your favor.

    I wonder if the A pack is a factor too for the more informed buyers?!

    Sorry that you are struggling with the sale but, I recall how the bottom fell out in late 2012 in the used Roadster market when a lot of owners started almost-distress-selling them to make room for the Model S. I've anecdotally seen Roadster sale prices recover since then. Maybe, if you can swing it, wait a bit till the D hoopla dies down?!
     
  6. SmartElectric

    SmartElectric Active Member

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    Tesla is still in the phase of early adopters, and these folks (like me) are always looking for the "next thing".

    The hype of the dual motor and auto pilot has attracted a subset (such as yourself) to upgrade two years into ownership.

    That means you don't gain the long term value by keeping it four (or more) years, and are only one year further than your first year of ownership where the most value as a percentage is lost from the car (ie. "lose value as you drive it off the lot").

    Personally for me, the price you are asking is reasonable, but I'm willing to wait a bit longer and be patient and see how prices move down as the three and four year old cars become available. I've bought a number of my cars new, like my Smart ED (completely an impulse purchase), and some used off-lease, generally three years old. Used cars don't phase me, and especially premium brand used cars, where I can get the top of the line model at half price for a three/four year old.


    The "A pack" may not be optimal as mentioned above, and it certainly occurred to me when looking at the ad. However, it's not the reason to devalue the car at all, as the difference in supercharger times is less important when we have so few superchargers in Canada.

    For me, lack of AWD is the key factor, as I need one of my two cars to be a winter champ, as my family travel extensively in the winter here in Ontario, and like I said on another thread, for those 4 days out of 365 when the snow is deep and the conditions are poor, having AWD is a big deal to me.
     
  7. bonnie

    bonnie Oil is for sissies.

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    ^^ This.
     
  8. ModelX

    ModelX Member

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    I think you are very well priced, unfortunately I am waiting on an X.
     
  9. mknox

    mknox Well-Known Member

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    While I would order AWD if I were purchasing today, do not underestimate how well the RWD Model S performs in the winter. I used mine all last year commuting from the Toronto area to the Waterloo Region as well as to Bruce County and Muskoka with no issues at all and we all know what last winter was like.
     
  10. randompersonx

    randompersonx Member

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    I think you have three things going against you:

    1) There is a large glut of Teslas for sale now due to the "D" launch, and it will take time for the market to fully absorb the supply. Waiting some time may help this, but prices may adjust lower.
    2) Your market probably is not large enough to be a fast market in the best of conditions, and americans likely will shy away from importing the car from canada for logistical reasons, and uncertainty about taxes, importation rules, etc. You can probably mitigate this somewhat by importing the car yourself, and trying to sell it in a USA market. I'm sure it's easier to sell the car in places like California (and other markets)
    3) Many people who are interested at all in Tesla are looking specifically for the new technology, and as you know, the P85D is the new hotness...
     
  11. drsaab

    drsaab Member

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    1. Everyone in Canada wants a D. 85d or p85d.
    2. USA customers probably don't want to import. I would recommend getting an importer and costs spelled out in your ad. Do the homework for the buyer
    3. In Canada your limited to the east coast. Not much repair network setup yet until you hit Vancouver.
     
  12. Kalud

    Kalud Member

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    No. That's excessive. Maybe 70% but not 100%. I come from an AWD BMW before the MS and glad the P85 RWD was available at that time. If I have to replace my car now I'd probably get the P85D for absolute performance but performance RWD would be my first choice. Between a S85 and a S85D I would get the S85 without hesitation. I would probably look at the slightly used P85 market though...

    The RWD MS is admirable (and FUN) with appropriate dedicated snow tires.

    OP sincerely, good luck with your sale. Those signature red with white seats are truly beautiful.
     
  13. sandpiper

    sandpiper Active Member

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    I agree with this. There are too many on the market right now, and prices are going to drop further before they start moving. If I were in your position, I would either trade it and take the hit, or keep the car until the supply of used ones returns to normal. I suspect that somewhere low to mid 70s is going to be the market price for this car once things have settled down. I also suspect it may be a year before the supply of used cars returns to normal.
     
  14. gg_got_a_tesla

    gg_got_a_tesla Model S: VIN P65513, Model 3 Res Holder

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    There may just be another downswing right around that time when the X's in full bore production.
     
  15. bonnie

    bonnie Oil is for sissies.

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    Keep your hands offa my Roadster. But there might be a Jeep available :).
     
  16. patp

    patp Member

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    I think what's happening is quite normal (at least for now). Even my close friends who wanted to buy my used P85 Sig decided they prefer to wait for AWD. I think you would have better luck selling it to a place where AWD isn't a major plus like in Canada. Personally, I jumped on Tesla's trade-in offer in October as I expected this to happen. The downside is that I have to drive a rented Subary Legacy while waiting for my P85D...

    Good luck.

    PatP
     

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