Need help gauging 100-series pricing (1 Viewer)

[kevgentile]

I am very new to the platform and after having looked at a few for sale and being disappointed by the overwhelming amount of paint work I'm finding.
I've been involved in the Porsche Audi scene for 25 years and in most cases we deduct a minimum of 20% of it's declared value if there's evidence of paint work, of course excluding a proper restoration strip and spray, and the prices are usually consistent relative to condition. The prices are all over the place for these 100's, regardless of condition.
Some have no rust vs a little to a lot of rust and will have very similar pricing. I know milage will have an effect but not as much as other marquees since these engines will go well beyond most others.
Just looking for some sort of guidance/direction on a baseline of price in relation to condition.

I found an '05 vapor blue I really like. Has a near perfect interior and mechanically sound, but has some paint work and minor rusting in some inconspicuous areas but at $18k I just feel it should be better. But having seen some much worse and asking for more money I'm not seeing any consistency in values.

 

[3_puppies]

good question, not sure there is 1 answer
in my mind, generally having less owners during it's life is better, and long term owner is good also
little to no rust is a big plus, versus miles
I sold a 1999 with 275,000+ miles and the underneath was still nice and black paint
here's a link to the thread on the rig:

SOLD - 1999 LX470.........MT

1999 Lexus LX470 282,000 miles no rust Landcruiser front and middle seats few dings and dents door locks are not working with the button AHC works a/c works few rock chips in the windshield $7750

forum.ih8mud.com

seems some owners look at other listings and think there rig is the same or better, not knowing the little things hurt there value.
KBB is of little help in pricing as it seems to not be up to date with the times
region of the country will determine pricing also,
a rust free rig in the northeast is rarer than a rust free rig in the southwest

 

[kevgentile]

i get that there are a variety of variables that determine value but I'm seeing a rat going for the same price as a rose.
Is it just someone trying to capitalize on the current overinflated values across the board? Spoke with a dealer today and he stated values on all vehicles are up 30%.
Maybe I'm just only familiar with certain makes and values but the lc/lx numbers are all over and the conditions do not reflect the going price even without inflation.

 

[3_puppies]

I think it is someone with a rat thinking it is a rose, just because they look online and see what other rigs are listed for so there rig must be the same.

I've deflated several owners of rigs thru the years, they think they have a prime example of "X", look it over and start pointing out things and explain things and give them the info that they have no clue about. some accept it and some think I'm trying to lower the price, I tell them I'm not interested in buying but trying to let them know what they actually have, but it goes nowhere.

best is to go in with eyes wide open, look past the shiny easy stuff to see and look deeper.
when very interested in a rig, I bring a pair of coveralls to get into and crawl underneath it

 

[kevgentile]

The 05 LX I looked at yesterday was shiny in all the right places, perfect for an average shopper. Went over it 3 times noting my findings and concerns, informed the seller, and he just smiled and acted like it's acceptable and the price reflects it.
I'm finding it to be too risky to drive too far to look at one of these. Too many sellers are trying to capitalize by throwing on a spit shine and lathering on a fresh coating of tar on the chassis.

I appreciate the feedback. Guess it's just the nature of the market in this economy. i'm sure it'll settle.

 

[dubdub20003]

To me it is all rust and maintenance on the big things.

Lots of these rigs have lived in west, south, and southwest… so little rust is an option. If you’re not in it for long term and want something to ride hard, and there is a discount… rust cand be managed.

On maintenance, everyone says well maintained and rides great. But when were the axles last replaced? OEM? What about brake controller? Steering rack? What about windshield… quality install? Rivets? Think of what could cost you a lot to fix. Yes these engines/tranny last long time when maintained, but what about the other items?

 

[shane431]

These 100’s are getting close to 20-25 years old. Most likely there’s going to be some sort of bodywork or paint correction on a lot of them. I don’t really care about the body being 100% perfect. We buy these things to go off-road and there’s a good chance you’re going to scratch it anyway. What I do care about is rust and the mechanical shape it’s in. I’d spend more for one that has new brake master cylinder, new spark plugs and coils, timing belt, etc……and a big stack of maintenance records. But to each their own.

 

[kevgentile]

Here is one local to me that I inspected the other day.
Please feel free to offer feedback on the value based off the notes I've made post inspection.

Used-2005-Lexus-LX-470-Sport-Utility-for-sale-in-Chantilly-VA-20152

What I found:
- Hatch has been sprayed. Didn't take something with me to check for filler.
- About a 6" section of seam sealer on hatch has been torn and some corrosion starting to show in the panel seam.
- The wrap around trim/molding below the right tail light has been attached with velcro.
- Right 1/4 panel and RR door have been sprayed.
- Right fender has some blend work, sanding marks visible. OEM fenders, still have vin decals.
- Left fender has 2 quarter size chips that have touch up over existing corrosion, Pitting is visible under the touch up.
- Left rear door has 3-4 streaks of rust stains coming from behind the lower deco molding.
- Decent amount of bubbling and rust on the RR 1/4 behind the bumper, only visible from the underside. No thru rot yet.
- Rear valance panel behind bumper scaly rust, again only visible from the underside.
- Exhaust must of rusted at the crossover, has a 6" patch section welded in.
- I'd grade the chassis at a 7-8 out of 10. Very decent with a minor surface rusting, mostly at the weld seams on the frame.
- Service history is respectable so I'd score it a plus.

KBB has it valued at $10.5 to $14K, dealer asking $18k
Before even looking up the book value I was at 12-13k but maybe I'm off?

 

[J1000]

100s are relatively rare and people keep them forever. Porsche and Audis are cars people only keep for a little while and have big repair bills so the turnover is higher. You are correct 100 prices are all over the place. I suggest finding a couple vehicles out west and having a mobile mechanic do a PPI and buying a plane ticket.

 

[kevgentile]

100s are relatively rare and people keep them forever. Porsche and Audis are cars people only keep for a little while and have big repair bills so the turnover is higher. You are correct 100 prices are all over the place. I suggest finding a couple vehicles out west and having a mobile mechanic do a PPI and buying a plane ticket.

You're right on the exclusivity of the 100's. I never really paid attention to seeing them out on the roads and prior to my interest in getting into one I had just assumed they were everywhere. Now that I'm paying attention I very rarely see more than one here and there.

I don't pay attention to the Porsche market like I used too but over the 38 years in business most of our customers keep them for decades. We have several that have been in the same 911 for 25-30 years, and some even longer. There is a new breed trying to capitalize on the rapid growth in values.

 

[dubdub20003]

Unless you could verify some major maintenance… I couldn’t get close to $18-20k. Not a ride i’d want to buy from dealer, unlikely to have receipts/history.

 

[SteveH]

@kevgentile - IMO, you're going to find nothing but rusty/reworked stuff on the East coast, unless it was just brought out from California.

I agree that values vary greatly for (sometimes) no apparent reason. As suggested by @J1000, do a Craigslist search on Denver and Colorado Springs on LX470 and LX 470 (with a space) and see what comes up. There's a least 8 that came up in my search.

This truck (2000 lexus lx 470 for sale by owner - Littleton, CO - craigslist - https://denver.craigslist.org/cto/d/littleton-2000-lexus-lx-470-landcruiser/7665872790.html) is very similar to mine, for which I paid $8K.

Mine had extensive work over the years, but at 310K, it has since required a brake/ABS pump, fuel pump, alternator, and knock sensors/starter. I did all the work myself, but even the parts were $2K for all this.

 

[shane431]

Here is one local to me that I inspected the other day.
Please feel free to offer feedback on the value based off the notes I've made post inspection.

Used-2005-Lexus-LX-470-Sport-Utility-for-sale-in-Chantilly-VA-20152

What I found:
- Hatch has been sprayed. Didn't take something with me to check for filler.
- About a 6" section of seam sealer on hatch has been torn and some corrosion starting to show in the panel seam.
- The wrap around trim/molding below the right tail light has been attached with velcro.
- Right 1/4 panel and RR door have been sprayed.
- Right fender has some blend work, sanding marks visible. OEM fenders, still have vin decals.
- Left fender has 2 quarter size chips that have touch up over existing corrosion, Pitting is visible under the touch up.
- Left rear door has 3-4 streaks of rust stains coming from behind the lower deco molding.
- Decent amount of bubbling and rust on the RR 1/4 behind the bumper, only visible from the underside. No thru rot yet.
- Rear valance panel behind bumper scaly rust, again only visible from the underside.
- Exhaust must of rusted at the crossover, has a 6" patch section welded in.
- I'd grade the chassis at a 7-8 out of 10. Very decent with a minor surface rusting, mostly at the weld seams on the frame.
- Service history is respectable so I'd score it a plus.

KBB has it valued at $10.5 to $14K, dealer asking $18k
Before even looking up the book value I was at 12-13k but maybe I'm off?

I think closer to $14K but hard to say without seeing it first hand. You’re probably better off buying from a private party vs dealer.

 

[suprarx7nut]

You're right on the exclusivity of the 100's. I never really paid attention to seeing them out on the roads and prior to my interest in getting into one I had just assumed they were everywhere. Now that I'm paying attention I very rarely see more than one here and there.

I don't pay attention to the Porsche market like I used too but over the 38 years in business most of our customers keep them for decades. We have several that have been in the same 911 for 25-30 years, and some even longer. There is a new breed trying to capitalize on the rapid growth in values.

I think I recall Land Cruisers and 911's being the top two "longest owned on average" vehicles. That said, the Cayman, Cayenne, Macan, etc... don't have the same stat. For Audi, they seem practically disposable. The values depreciate so hard and fast you can basically make a formula with just a few factors to determine values.

Land Cruisers can last just about forever. The paint is normal paint. The running gear, interior, major chassis components are not normal. They're all beefy and with few exceptions, they're meant to outlast the paint. I think that's why paintwork is a minor thing in this crowd. You can find an exceptionally good running vehicle with terrible paint. Most buyers aren't buying a Land Cruiser for the pristine paint.

Since the mechanicals can last just about forever, the potential for value of any given model year and mileage is nearly infinite. A 250k mile car in great shape could get more $$ in a sale than a 75k mile car with a torn up interior.

Given the really wide range of conditions and the wide range of why people are buying these (IE Garage queen for a mountain cabin vacation home, Rock crawler, Overland build with $40k put into it, daily driver for pavement only, etc...) there's just a really wide range of prices for which these are changing hands.

That sort of wide dynamic range doesn't exist within most other car models - definitely not Porsche/Audi.

 

[kevgentile]

Appreciate all the input peeps. Basically in the current market there's no rhyme or reason to the vast difference in pricing from one to the next.
Just find something you're comfortable with and willing to buy for the price asked, if not, keep looking.

Cheers mates!

 

[nikoli]

Create an account at Lexus.com and you can plug in VIN numbers to find maintenance history.

 

[kevgentile]

Create an account at Lexus.com and you can plug in VIN numbers to find maintenance history.

Good idea, thanks. I saw that on "The Land Cruiser Project" youtube channel and completely forgot about that service.

 

[RND1]

Haven't been tracking the market, but it used to be the LX was 10%-15% less than comparable LC. '05 was the last year LC had non-AHC suspension (technically '06-'07 was an option, but most I've seen have it). All LX have AHC.

 

[trdgolden]

I bought a one owner, 208k mile 04 LC for 15k a month ago. Zero rust, perfect maintenance history at the local dealership. I've already dropped 6k into it to baseline. The market is still really high. 4k for timing belt, serptine, water cooler pump and brackets, rotors/bearings. I did the suspension and fluids, just ordered tires/wheels.

 

[nikoli]

I bought a one owner, 208k mile 04 LC for 15k a month ago. Zero rust, perfect maintenance history at the local dealership. I've already dropped 6k into it to baseline. The market is still really high. 4k for timing belt, serptine, water cooler pump and brackets, rotors/bearings. I did the suspension and fluids, just ordered tires/wheels.

I have almost the same exact story.

'05 LX w/ 180k... lived its whole life in Atlanta, zero rust, and dealership maintenance history a mile long. Last several years the owner declined fixing findings... so I used that to get the asking price down from $19k to $15k even (including taxes and fees)... have it baselined now with a little over $4k in service. Hopefully this thing is set for a long while.

I would guess this time last year they wouldn't have budged on their $19k asking price. So I know it's anecdotal but I think certain markets have cooled, even for the 100 series.... and there are more deals to be found.