SOLD Reality Check on the Value of my 2000 LX 470 with 172K Miles

Year

2000

Vehicle Model

1. LX470

Mileage

172100

Color

Black

Outside Link

https://carsandbids.com/auctions/3y2Lp7Vy/2000-lexus-lx-470

Hi everyone, I hope you had a great holiday. I’ve been a member for a while and although I didn’t post I did find a wealth of information in this community. Thank you!

After 5 great years of ownership, I’ve decided to sell my 2000 LX. I purchased the car from a member here, who did the same. It has around 170k miles on it with an OME lift, TRD wheels and other mods.

I used Cars&Bids and I’m disappointed with the results. The auction ended today and the highest bid came in at $12,000. She’s not perfect, but I was expecting it to end in the mid to high teens. Was that an unreasonable expectation or is the Cars&Bids community clueless about the value of the 100 series?

I ask because of a comment someone made saying they were surprised a 22 year old car with 170k miles didn’t sell for $12K.

I had a reserve but I can sell it to the highest bidder. Before I decide, I wanted to get your feedback first.

The link below is to my auction. It has a ton of pics and the carfax report (clean).

2000 LX470

Please let me know what you think. Thanks!

 

[Radclerk1]

Not sure if this helps you but I’ve read the market for these is down 30% year over year. Also, I think the LX doesn’t hold value as well as a LC even though they are more expensive when it was originally purchased.

 

[twotrunksteve]

Hi everyone, I hope you had a great holiday. I’ve been a member for a while and although I didn’t post I did find a wealth of information in this community. Thank you!

After 5 great years of ownership, I’ve decided to sell my 2000 LX. I purchased the car from a member here, who did the same. It has around 170k miles on it with an OME lift, TRD wheels and other mods.

I used Cars&Bids and I’m disappointed with the results. The auction ended today and the highest bid came in at $12,000. She’s not perfect, but I was expecting it to end in the mid to high teens. Was that an unreasonable expectation or is the Cars&Bids community clueless about the value of the 100 series?

I ask because of a comment someone made saying they were surprised a 22 year old car with 170k miles didn’t sell for $12K.

I had a reserve but I can sell it to the highest bidder. Before I decide, I wanted to get your feedback first.

The link below is to my auction. It has a ton of pics and the carfax report (clean).

2000 LX470

Please let me know what you think. Thanks!

I watched this auction. I have a 2005 LX with 205k, no mods and great mechanical shape, but needs paint (no rust, just sunburned). I’ve been trying to decide if I paint it and spend some $$ on mods or if I sell it and buy someone’s project. Honestly, I was surprised at your results and if that’s the market, I might sell and buy another’s project.

Basically, I thought it was worth more too.

 

[NoALnewb]

I had a friend sell his 2001 in similar condition a year ago with under 200k miles for $10,500. He bought it a year earlier for $10000. I did think he could have gotten more for it on resale.

I see $12,000 as a fair price, but I do think the right buyer would pay more.

 

[REKCUT]

For whatever reason they have, LX bring less than Toyotas for some reason. Could be that a lot of people just don't think to search lexus when they look. I also think the market is cooling a bit from the insane numbers they were bringing. I believe a cruiser like that with under 200k would bring in mid teens or even higher.

 

[TheLCProject]

$12k was more than fair in my opinion.

 

[Akhesh2003]

$12k was more than fair in my opinion.

Could you expand on that for me? This is the type of input I'm looking for. Thanks!

 

[Akhesh2003]

For whatever reason they have, LX bring less than Toyotas for some reason. Could be that a lot of people just don't think to search lexus when they look. I also think the market is cooling a bit from the insane numbers they were bringing. I believe a cruiser like that with under 200k would bring in mid teens or even higher.

Agree with you there, people don't associate the LX with a Land Cruiser. Thanks for your input!

 

[Akhesh2003]

Not sure if this helps you but I’ve read the market for these is down 30% year over year. Also, I think the LX doesn’t hold value as well as a LC even though they are more expensive when it was originally purchased.

The market has definitely changed and I agree with you about the LC holding its value better. Thanks for your input!

 

[Akhesh2003]

I had a friend sell his 2001 in similar condition a year ago with under 200k miles for $10,500. He bought it a year earlier for $10000. I did think he could have gotten more for it on resale.

I see $12,000 as a fair price, but I do think the right buyer would pay more.

It's just a matter of do I want to deal with flakes and test drives for a couple grand more? I'm leaning toward no. Thanks for your input!

 

[Akhesh2003]

I watched this auction. I have a 2005 LX with 205k, no mods and great mechanical shape, but needs paint (no rust, just sunburned). I’ve been trying to decide if I paint it and spend some $$ on mods or if I sell it and buy someone’s project. Honestly, I was surprised at your results and if that’s the market, I might sell and buy another’s project.

Basically, I thought it was worth more too.

There was a LX470 that sold last month on C&B for $20K (I think it was listed here as well). I didn't expect that amount, (that LX had 30K less miles and was in nicer condition) but I thought I'd see something around $15K for mine. Like yours, I feel that it's in great mechanical shape but needs paint. Maybe the timing of the auction didn't help or it's just how the market is now. It's a couple grand lower than what I was hoping for, which is nothing to sneeze at, but in the end is it worth it?

Thanks for your input!

 

[TheLCProject]

It's no secrets that LXs of all variants (450, 470, and 570) are valued at less than their Land Cruiser counterparts. The LX450 carries the smallest difference according to my anecdotal experience. Maybe it's the increased electronics, the AHC (on the LX470, in particular), or just that the LX is seen as more luxury and less utilitarian.

Early year 100 series are less favorable than later years, with the 06 and 07 being the most sought after.

Your truck seems clean and relatively well-kept, but it's well-used. Wheels and tires are a nice addition.

Here's the list of stuff that really kills the value in my opinion, but even if they were all corrected, I still don't think you're getting more than $15k. The overinflated market has ended - it's still high, but the bubble is definitely deflating.

• The sun damage on the paint, exterior plastics, steering wheel.
• The rust on the rear tailgate and possibly covered up underneath with the undercoat
• Mismatched spare wheel and tire
• Front leather seat puncture and overall leather condition

Hope that helps?

 

[Akhesh2003]

It's no secrets that LXs of all variants (450, 470, and 570) are valued at less than their Land Cruiser counterparts. The LX450 carries the smallest difference according to my anecdotal experience. Maybe it's the increased electronics, the AHC (on the LX470, in particular), or just that the LX is seen as more luxury and less utilitarian.

Early year 100 series are less favorable than later years, with the 06 and 07 being the most sought after.

Your truck seems clean and relatively well-kept, but it's well-used. Wheels and tires are a nice addition.

Here's the list of stuff that really kills the value in my opinion, but even if they were all corrected, I still don't think you're getting more than $15k. The overinflated market has ended - it's still high, but the bubble is definitely deflating.

• The sun damage on the paint, exterior plastics, steering wheel.
• The rust on the rear tailgate and possibly covered up underneath with the undercoat
• Mismatched spare wheel and tire
• Front leather seat puncture and overall leather condition

Hope that helps?

It's a ton of help and I appreciate you taking the time to write your thorough response. Thank you!

 

[Radclerk1]

Carfax also states 7 owners which may or may not affect how someone perceives how well this was taken care of before you, or if there were problems with it, which is why it traded hands so much.

 

[Akhesh2003]

Carfax also states 7 owners which may or may not affect how someone perceives how well this was taken care of before you, or if there were problems with it, which is why it traded hands so much.

I hear you. I thought it would help that the car's entire service history is on the Lexus owners website. I believe Toyota has something similar. Thanks for your input!

 

[NE Snowman]

I’ve been sitting on the sidelines for 8mo the to a year watching LCs/LX. The past 2 months they really have seemed to lost the high price points from 2021. LCs tend to cost more from what I see as well, more electrical things to break I guess. I’ve been seeing folks post pre 03s for south of 10k if they’re trying to sell quick. Also don’t look at the average on listed cars. Lots of the same 100s sitting at the same price from last year (4 local ones 25k+, on the lot for 400+days) most newely listed100s 13-18k dealer/lot listed. Marketplace hanging around 15k for my local.

Most of these are northeast rigs, the few nice southern rigs are holding value but staying listed for awhile.

 

[Akhesh2003]

I’ve been sitting on the sidelines for 8mo the to a year watching LCs/LX. The past 2 months they really have seemed to lost the high price points from 2021. LCs tend to cost more from what I see as well, more electrical things to break I guess. I’ve been seeing folks post pre 03s for south of 10k if they’re trying to sell quick. Also don’t look at the average on listed cars. Lots of the same 100s sitting at the same price from last year (4 local ones 25k+, on the lot for 400+days) most newely listed100s 13-18k dealer/lot listed. Marketplace hanging around 15k for my local.

Most of these are northeast rigs, the few nice southern rigs are holding value but staying listed for awhile.

Appreciate the input!

 

[Akhesh2003]

Update: I've decided to move forward with the sale. The buyer agreed to let me keep the Land Shark Outfitters Reef drawer. Helps ease the sting because I'll sell it to recoup some of the cost.

Thanks again to everyone for your input. I'm really glad I reached out to the community. Take care and have a Happy New Year!

 

[4wdgr8r]

I’m interested, if the buyer waffles. Or if you want to sell it here.

 

[Akhesh2003]

I’m interested, if the buyer waffles. Or if you want to sell it here.

I'll reach out if he does. Thanks!