Are you in the market to buy (or sell) a BMW M3 in Ibadan? Vehiclus analyzed the used auto market of all cities in Nigeria to determine a pricing profile of various BMW models depending on their age, technical condition, optical condition, and mileage. To optimize your earnings when selling your M3 (or to be certain to not overpay when purchasing a BMW M3) it is very recommended to know most price-establishing variables.
Ibadan is a metropolitan area with 3565108 inhabitants. However, there are not many BMW M3 on the market. Therefore, the supply is small and the demand depends on a multitude of factors such as season, fuel mileage, and brand competetivness.
As described in the figure below, cars of the make BMW and specially of their model M3 devaluate in a very customary manner. The mean value of the M3 will be decreased by up to 13% ($56,305) after just one year. After three years, the car usually goes for only 60% of its original selling price ($42,097) while it will only be valued at 29% of the original price after 7 years ($18,119). The M3's value after twelve years is only 11% of its initial price depending on its condition of course.
Another way to analyze vehicle depreciation is to look at the decrease of value vs kilometers driven. The BMW M3 depreciation curve below illustrates this phenomenon for the city of Ibadan. The M3 looses most of its resell price (approximately 50%) within the first 20,000miles (30,000km) of its mileage. The average price for a M3 at that usage level is approximately $35,887. After that the devaluation slows down: at 90k km the BMW M3 is sold for $22,337 in Ibadan and for $10,216 at 180k km .
The last value that significantly determines the price of a used car is the technical and optical condition of the vehicle. The table below illustrates the devaluation of a BMW M3 according to its year and its condition.
|Vehicle Year||BMW M3 Condition|
|BMW M3 variations:|
|M3 CSL COUPE BVA|