VRT "Open Market Value"

coL

In the process of selling my car. Have priced it in line with what other similar age/spec/mileage cars are selling for.

There is a guy interested but when he done his history search the open market value stated on the Revenue site was a good bit less than what I am looking for (and is way too low in my opinion).

He is trying to get me to drop the price based on what the Revenue website says. I was just wondering what peoples opinions are on the reliability of the Revenue "open market" value and if it is any indicator of the actual value of the car in a private sale situation?

I know I haven't given the make, model or price of the car but looking for opinions on the Revenue value in a general sense and don't want to get into discussions on the actual figures in question as I am sure people will have differing opinions on how realistic my price is.

bazz26

It's only a guideline, nothing more, just like the any seller's asking price.

The buyer is trying to be clever by using the lower Revenue value to negotiate down the price. If it were the opposite and it was higher than what Revenue valued it at, you can be sure he/she would not pay the higher Revenue value. It's up to you if you want to deal on your terms, his terms or somewhere in between.

michellie

That's unusual normally revenue have a higher OMSP for every thing ! Chancing his arm id say

ahnowbrowncow

Ask him to send on a link, there's a chance he's looking at a different car, whether accidentily or on purpose I don't know. From speaking to a person working in the VRT centre, numerous people can't use the VRT calculator or don't want to see the correct value.

They go in with a very low value for their car and leave annoyed or angry when the VRT is far higher than expected.

coL

bazz26 wrote: »

It's only a guideline, nothing more, just like the any seller's asking price.

The buyer is trying to be clever by using the lower Revenue value to negotiate down the price. If it were the opposite and it was higher than what Revenue valued it at, you can be sure he/she would not pay the higher Revenue value. It's up to you if you want to deal on your terms, his terms or somewhere in between.

That's what I though. Then I read a bit on the Revenue website about how they calculate it and started to doubt myself. From the website you get the impression they put a lot of research into this value and are constantly updating it. I assume that is not the case?


I don't want to rip any one off and I am pretty sure my price is fair.

coL

michellie wrote: »

That's unusual normally revenue have a higher OMSP for every thing ! Chancing his arm id say

ahnowbrowncow wrote: »

Ask him to send on a link, there's a chance he's looking at a different car, whether accidentily or on purpose I don't know. From speaking to a person working in the VRT centre, numerous people can't use the VRT calculator.

They go in with a very low value for their car and leave annoyed or angry when the VRT is far higher than expected.

He waved a bit of paper at me that was produced from whatever search he did on the reg. I didn't get a chance to look at it in detail as there were one or two things to sort out first. Fully intend to inspect that bit of paper in detail before we go any further but wanted to be prepared.

kirving

You're not ripping anyone off, he isn't being forced to buy the car.

colm_mcm

Post a link to your ad and it should be obvious whether you’ve priced it right.

bidiots

coL wrote: »

In the process of selling my car. Have priced it in line with what other similar age/spec/mileage cars are selling for.

There is a guy interested but when he done his history search the open market value stated on the Revenue site was a good bit less than what I am looking for (and is way too low in my opinion).

He is trying to get me to drop the price based on what the Revenue website says. I was just wondering what peoples opinions are on the reliability of the Revenue "open market" value and if it is any indicator of the actual value of the car in a private sale situation?

I know I haven't given the make, model or price of the car but looking for opinions on the Revenue value in a general sense and don't want to get into discussions on the actual figures in question as I am sure people will have differing opinions on how realistic my price is.

Link to the car? We could give an idea for you if we think its priced accordingly?

sunnysoutheast

Revenue OMSPs are usually........somewhat optimistic based on the trade-in values I've been offered at least. Putting it mildly.

If you're asking for more than the Revenue OMSP in the current market, well good luck with it.

Eoinbmw

coL wrote: »

He waved a bit of paper at me that was produced from whatever search he did on the reg. I didn't get a chance to look at it in detail as there were one or two things to sort out first. Fully intend to inspect that bit of paper in detail before we go any further but wanted to be prepared.

Id have told him where he can shove it!
Obvious time waster!

JohnCleary

VRT OMSP can be a bit all over the place, it's not to be relied on for true value of a car.

Sold my old reliable last week, VRT Calculator had an OMSP of about 1.2k less than what I got for it. (and it was one of the cheapest for its spec / age / etc. advertised on DoneDeal)

Damie

https://www.donedeal.ie/adview/view/21632686

This the machine in question Col?

Damie

Eoinbmw wrote: »

Id have told him where he can shove it!
Obvious time waster!

Why? How can offering the price that revenue determines, be time wasting?
All he has to do is refuse ffs.

JohnCleary

Damie wrote: »

Why? How can offering the price that revenue determines, be time wasting?
All he has to do is refuse ffs.

Because this is BOARDS :pac:

coL

Thanks for the feedback/advice. Not going to put up the my specific ad as there will invariably be those who think it is either priced too high, too low or just right and I don't want to start that debate as there will also without doubt be trolls just looking to create an argument. What I will say is that my car is a similar spec with similar mileage to the one in the ad below and I am selling it for €2,000 less. In fact I cant find a car like mine for less that what I am asking!

http://https://www.donedeal.ie/cars-for-sale/citroen-grand-c4-picasso-low-mileage-automatic/20671199

I have my doubts about the accuracy of the Revenue figures particularly their ability to constantly monitor and update all the figures for all the variants of all the brands on a regular real time basis based on the market value of what each car is being sold for.

So far this potential buyer has been genuine so I have no reason to suspect he is a time waster but I did want to be prepared with a counter argument if he brought up the revenue value.

coL

sunnysoutheast wrote: »

Revenue OMSPs are usually........somewhat optimistic based on the trade-in values I've been offered at least. Putting it mildly.

If you're asking for more than the Revenue OMSP in the current market, well good luck with it.

Well the OMSP should be different from the trade-in value anyway so that would account for the difference there.

All I can do is look at the various selling locations and see what they are selling my type of car for and use that as the basis. From the other ads I see I think mine is reasonably priced.

coL

Damie wrote: »

https://www.donedeal.ie/adview/view/21632686

This the machine in question Col?

Nice car but not mine I'm afraid

colm_mcm

www.donedeal.ie/cars-for-sale/citroen-grand-c4-picasso-low-mileage-automatic/20671199

Fixed link for anyone interested.

grogi

michellie wrote: »

That's unusual normally revenue have a higher OMSP for every thing ! Chancing his arm id say

No, not really.

For cars that people would not import, but rather export, they have OMSP much lower....

J.R.

coL wrote: »

Thanks for the feedback/advice. Not going to put up the my specific ad as there will invariably be those who think it is either priced too high, too low or just right and I don't want to start that debate as there will also without doubt be trolls just looking to create an argument. What I will say is that my car is a similar spec with similar mileage to the one in the ad below and I am selling it for €2,000 less. In fact I cant find a car like mine for less that what I am asking!

http://https://www.donedeal.ie/cars-for-sale/citroen-grand-c4-picasso-low-mileage-automatic/20671199

I have my doubts about the accuracy of the Revenue figures particularly their ability to constantly monitor and update all the figures for all the variants of all the brands on a regular real time basis based on the market value of what each car is being sold for.

So far this potential buyer has been genuine so I have no reason to suspect he is a time waster but I did want to be prepared with a counter argument if he brought up the revenue value.

That car's OMSP on revenue is €16,944 (if I'm correct)

Statistical Code 42287781

It's selling for €18,900

I would not sell your car much cheaper that you want to sell it for just because of a revenue price on VRT site.
You have the price you want - they either pay close to that amouint or search elsewhere.

sunnysoutheast

coL wrote: »

Well the OMSP should be different from the trade-in value anyway so that would account for the difference there.

All I can do is look at the various selling locations and see what they are selling my type of car for and use that as the basis. From the other ads I see I think mine is reasonably priced.

Yeah but when I was trying to price my car - very different from yours admittedly- I saw private sellers trying to sell at thousands above dealers who would offer a theoretical warranty. Many if not most private sellers are kidding themselves.

alan partridge aha

Tell him to fu5k off and stop wasting your time.

rex-x

When selling a car it all comes down to price IMO.

If car not sold within 24 hours then its not cheap.
If not sold in a week then its a bit dear.
If not sold in a month then you are dreaming.

Any car will sell regardless of model, spec, condition or circumstances if its the right price reflecting that.

coL wrote: »

So far this potential buyer has been genuine so I have no reason to suspect he is a time waster but I did want to be prepared with a counter argument if he brought up the revenue value.

You don't really have a counter argument, its worth whatever someone is willing to pay. You can try barter with him some more or can just decided not to sell it and hope for more from someone else.