Black Book Updates Will be Released Monthly
Black Book announced it now offers regular monthly valuation and pricing updates for old cars and vehicles in the specialty markets, including: collectible, exotic, and highline cars; motorcycles and power sports; recreational vehicles; and medium and heavy duty trucks.
According to a press release, Black Book is the only publisher of old car and specialty market valuations each month for mobile, data source and Internet suite products, helping remarketers, dealers and lenders make more accurate decisions.
While many of the specialty markets experience pricing changes that follow seasonal patterns, additional and unexpected outside factors can influence unforeseen pricing changes. For example, abnormal weather patterns in late fall held snowmobile values from their normal seasonal uptick. Black Book’s regular updates alerted dealers who were able to make adjustments for stocking and selling inventory.
“Infrequent updates on prices won’t account for smaller valuation changes which, when added up, can provide a significant adverse impact to a dealer’s profit margins,” said Ricky Beggs, vice president and managing editor of Black Book. “The same way people now use technology to get news and information faster, our regular updates help industry constituents make better decisions whether they’re buying, selling or lending.”
Black Book collects extensive pricing data from auctions and wholesale events around the country in each of the specialty markets as well as older cars. Black Book’s team of editors actively follows their respective markets, with information and insight that helps industry followers react more quickly to market changes. Dealers are able to put their money on the line with more confidence, and lenders can be aggressive without being over-collateralized.
For additional insight please view Black Book’s monthly video report on the specialty markets, available by clicking here.