Am I missing something?

I purchased my 2004 xj8 just over 2 years ago with 54k miles on the odometer for ~$15,000.

Just messing around, I went online to check the Kelly Blue Book value. For a private seller transaction in Very Good to Excellent condition it ranges from $5,529-$5,804 USD.

I would've thought I could get at least $12k for it? Has it really depreciated $10k in 2 years - that seems excessive?

 

Wait another 10 years, it'll start going back up. But really I think that the used market for them has dropped off quite a bit in the last 2 years, partly due to a 2004 now being a 10 year old car. Before you could say the car was less then 10 years now the car is a Decade old. Also the new Jags are coming down in price in the used market and you'll be able to get an XF which looks more modern for the price you used to get an XJ so the market to buy an X350 is getting smaller

 

My wife has an 03 Mercedes s430 whose value took a nose dive @ 10 years as well. So I decided to keep her until she costs more to own than she's worth. (the car I mean)

 

Not sure how you booked it but I came up with 6500 PP and 7700 Dealer retail. Though I believe values are higher here in AZ then the east coast.

 

I just put my zip code in, miles, and added any of the options that were missing and it spit out the values.

I'm not interested in selling it and hope to get another 100k miles out of it. Was just curious what the KBB value was. I still see them listed on AutoTrader in my area for $14,000+ with similar miles and condition. Of course, that doesn't mean they will actually sell for that.

 

There's an 04 here in MPLS dealer listed for $12,877. It has 43500 miles though.
There's also an 06, private sale, claims to have all service records and has 92000 miles for $11k.

Key to me as a buyer are those two things, all maintenance records (all of them) and secondary are the miles. I think you can command better pricing with those two items above all else.

 

Wow, that is quite the drop! I also like to check my 05's value from time to time...and maybe because its a SuperV8, but it is priced surprisingly well at $25k @65000 miles & private seller. I hope next year - the 10yr cutoff - doesn't have the same affect as your 04. That would be depressing.