 The Global Economy
I agree KBB is getting too close to black book. NADA is more fair in pricing retail values.
Plus it's also part Econ 101. The price of most real goods in California is normally higher than the price in Georgia (where I live). The internet has done wonders for commerce and trade, and is helping to rebalance that equation but salaries and Cost of Living is still much higher in Cali than in other areas. Therefore, a nice TI in San Francisco is worth more (if staying in California) than the same TI selling in Georgia for the same reason that a 2000 square foot home in Georgia may sell for $300k that would sell for $500k in the suburbs of San Francisco. It's when we start trying to sell across regions that we start getting into more disparate pricing differences. I may actually buy my next 2002ti direct from Europe because it's cheaper to import a nicely restored one than it is to pay $20k for one restored here. Gotta love the global economy! |