What is a fair price for this 2001 LX470?

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Hello from Derby City, 100-Series folk! I've lurked quite a bit here, but I've just joined and this is my first post. I'm a veteran of a few guitar and bicycle/bikepacking forums so I hope I know how to behave, but please correct any faux pas.

I work for a small firm and aside from a brief time away I've worked for my boss for nearly twenty years. He is currently the executor for the estate of a long time friend so he's charged with selling his assets including a very large and expensive home, a vintage car or two, a nearly new 911 and so forth. The items of lesser value are a PITA for him as much as anything and in that bucket falls a 2001 LX470 in Golden Pearl with 275k miles. KBB told him the value was between $6k and $8k.

I apologize in advance for my first post having no pics (TTIWWP). I've not seen the vehicle yet, but here is what I know.

  • It has been seldom driven over the course of the last five years
  • Owner had big dogs he transported, but had covers on the seats to protect the leather
  • Truck didn't start a few months ago after his passing; AAA jumped it and tested the battery and said it was sound
  • One-owner who did not keep the records, but according to the executor and his friend of 25 years he had all maintenance done at the Lexus dealer and never said no when told the truck needed X or Y (including preventative things) so it had numerous maintenance visits that cost a lot of dough
I'm rather certain my boss is going to offer it at a very fair price and I don't want to haggle with him. I'm just coming here to get a feel for the general price of a 2001 LX470 given what history I've laid out as I figured it would be users here who have their fingers on the pulse of the market.

This truck would see very few miles. Our family of four have a '22 Sienna Platinum and I recently bought a '25 Camry XSE when my '03 XLE started getting oil in the cylinders at 215k.

I am lucky to have the rarest of things; a truly honest mechanic who will not suggest anything unnecessary and whose prices are lower than fair so the first thing I'd do is to take it to him and let him go over it at his leisure.

Given that the battery is at least 5 years old and has sat idle for many long periods my inclination is to just buy a new Interstate from Costco and bring it with me if and when I agree to buy it and take it away.

Thanks much and sincere apologies for a long thread without pics!
 
the first thing I'd do is to take it to him and let him go over it at his leisure.
Is everybody close enough that you could take the vehicle to your honest mechanic for a pre-purchase inspection?
 
Probably the biggest influence on the value will be the condition of the body/frame. Rust or no rust, that is the question. With the VIN you should be able to go on lexus.com and see the maintenance done at the dealer.
 
Thanks for the maintenance records tip.

Yeah, everyone is within a dozen miles or so of one another, but if I my mechanic were to find something that would be cost prohibitive I'm certain the seller/my boss would "un-do" the deal to make it fair and he or I could sell it as-is for parts or whatever. That is to say, I am not concerned about getting left holding the bag if it needs major repairs. My boss even used my mechanic when our office was downtown and trusts him as I do.

The truck has been garage kept all of its life, but road salt is used in the winter here. Honestly, that's a big part of my interest. We recently just had a foot of snow with some ice in the middle and side streets often don't get plowed in the urban district where I am. It'd be great to have this rig next time it snows a bunch.
 
Given all you have said and the variables out there, I think KBB sets a good range. If it has rust, bottom end; if it doesn’t, the top. If it is the middle, well middle.

As executor, to protect himself from challenges and other legal action, pinning value to an unbiased source would be an easily defendable action.
 

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