Press Release Sneak Peek: Owners of prestige German cars ‘hold out longer’ for the highest price when selling, study reveals

We've been doing some number crunching on who holds out longest for the best price on Wizzle.


And guess what - it looks like people selling posh German cars keep the dealers waiting longer than most, before they accept an offer.


It also turns out that people selling Peugeots are the least precious of all and end up selling their cars quickest.


Here's a sneak preview of the story we're releasing to the media next week.


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DETERMINATION to hold out for the highest possible price is strongest among the sellers of prestige German car brands, according to analysis by consumer-to-dealer car trading platform Wizzle.

It means dealers typically wait longer for a seller’s decision after bidding to buy BMW, Audi and Mercedes than when they bid on less image-led brands.

Wizzle, which enables dealers to source used car stock directly from consumers, analysed the average time between initial dealer bid on the car and a consumer agreeing to sell, based on all transactions since the platform’s launch.

They found that the owners of ‘bread and butter’ brands are generally most likely to agree a sale quickly, with Peugeots proving the quickest for dealers to buy. The typical Peugeot seller tends to accept a dealer bid around 42 hours after listing.

In contrast BMW owners hold out for an average 76 hours, Audi drivers for 83 hours and those selling a Mercedes typically hold out until the 85 hours mark.

The only German brand among the ten quickest selling marques is Volkswagen, for which a sale is agreed on average around the 62 hours point.

Wizzle has tracked the performance of all vehicles on its consumer-to-trade platform since launching in August. Despite the tendency of Audi sellers to hold out longer than more mainstream brand owners, the fastest seller so far was an Audi A4 TDI SE on which a sale was agreed within 79 minutes of listing.

Founder of Wizzle, Sébastien Duval, said: “At first we expected the tendency for BMW, Mercedes and Audi owners to hold out longer on the sale to be because their cars might be worth more, which could lead to a longer negotiation.

“But there seems to be no obvious relationship between the actual cash values of cars and the time it takes to agree a sale.

“We see the same tendency, regardless of the car’s valuation, age or level of specification, because the prestige German brands are represented on Wizzle at all years and trims.

“The only conclusion we can make is that the sellers of German prestige marques have higher expectations on price.

“The fastest selling car on Wizzle so far was an Audi which sold in just over an hour, but that’s a real exception. In our experience, Audi sellers – like BMW and Mercedes owners – are generally more determined to hold out longer for improved offers than the sellers of more bread and butter brands, regardless of the car’s actual value.”

Table of car brands