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Though the two vehicles are identical (2010 BMW 528i) here, one has one owner while the other has three. The latter faces a lower market price by roughly $2K.
The issue of one owner vs. multiple owners is more a psychometric hypothesis than a true econometric (market-derived) one. In other words, potential buyers tend to feel more at home with one-owner vehicles than multi-owner ones, under the impression that the former are better cared for than the latter. Likewise, the dealers of late model vehicles often price their inventory higher than their rental counterparts, making a similar case.
Those who are into data science or modeling can learn more about it from my recent book "Pricing Pre-owned Auto Market - A Hedonic Modeling Approach" available on Amazon (search 'Sid Som's Books' or use the link below).
I produced the above sample valuations from JustAutoValue.com as I own and operate the site, to avoid having to deal with any copyright issues. The site produces these valuations in less than 30 seconds each. It's mobile-friendly so no additional Apps are needed. Moreover, It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.
I produced the above sample valuations from JustAutoValue.com as I own and operate the site, to avoid having to deal with any copyright issues. The site produces these valuations in less than 30 seconds each. It's mobile-friendly so no additional Apps are needed. Moreover, It's totally FREE and NO login/registration of any sort is required. Nearly 90 Major Brands are currently covered.
Just click on the Brand of your choice on our homepage and follow the prompt. If you need help, use 'TRY IT' from the homepage. Here is the link to JustAutoValue.com:
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