I have posted my 128i for sale on this site, as well as on others such as Craigslist, AutoTrader, and eBay. It has been on the market for close to three months now and we have only received a few offers, most of which fall dramatically below my asking price. I am looking for advice from fellow 1 series owners about the current market conditions.
The car is a 128i, Montego Blue, sports and premium packages, 25k miles. Tires are Continentals with about 6,500 miles on them. I have all service records (serviced according to BMW recommendations). Condition is very good on the interior, with a tiny bit of wear on the leather where the driver's side seatbelt rubs and some scratches on the plastic on the back side of the driver's seat. Otherwise, the inside is immaculate. Warranty and maintenance through August 2013. Professionally tinted windows.
There are a few more issues on the exterior. There is one dime-sized rock chip on the hood of the car that is down to the primer, there is a small scratch next to the driver's side door, and there is some road rash on one of the rims. Apparently, the alignment is off as well.
I am asking around $24k for the car. Kelly Blue books lists the car at between $24,200 and 24,700 depending on its condition. Edmunds lists the car higher, at about $25k. Most listing for similar cars seem to be priced higher than mine, so I think I'm asking for a fair price.
Of the few calls I have received, I have been offered $21k, $22k, and now $22,500. All three offers seem too low to me, at $1500-$3,000 below asking.
I am wondering if anyone has some insight on the nature of the current market. Am I asking too much at $24k? Should I accept the current offer of $22,500 and move on, especially since I've been trying to sell it for 3 months now? Or should I hold out for a better offer? Any advice would be greatly appreciated.
