By Jack Ploszay · October 8, 2026
Sold prices show what buyers actually paid. Asking prices show what sellers hope for. A reliable vehicle valuation leans on recent sold results for closely matching vehicles, treats asking prices as supporting evidence only, and explains the differences between each comparable and the subject.
Key takeaways
- Prefer sold or completed sales to asking prices.
- Check recency, mileage, condition and specification on each comp.
- Understand auction quirks such as reserves and buyer premiums.
- Three to five good comparables beat ten weak ones.
Sold versus asking
An asking price is an opinion. A sold price is a fact. Listings can sit for months, be cut, or never sell, so a list of asking prices tends to run higher than the real market. When both are available, weight the sold results.
Reading auction results
Auction results are valuable because they are public, dated and attached to a specific vehicle with photos. Read them with care. A reserve not met means the car did not sell at that bid. Fees and buyer premiums can change what the buyer actually paid. And auction prices reflect auction buyers, which may differ from private or dealer markets.
What makes a comparable good
Same model and generation, same engine and transmission, similar originality, similar condition, and a recent sale date. The closer the match on those, the less adjustment is needed and the more weight it deserves.
Adjusting for differences
No two cars are identical. Mileage, condition, documentation and specification all differ, and a good valuation explains each adjustment instead of hiding it in the final number. If you cannot explain why one comparable is higher than another, it probably should not carry much weight.
How many is enough
Three to five well-matched, recent comparables usually support a defensible opinion. When fewer exist, the honest outcome is a wider range and a clear note that the market is thin.
Check that the comparables are real
Open the links. A comparable that cannot be verified is not evidence. Veride's reports and Collateral Check show their sources so a reader can look at the actual sales.
A quick quality check for any comparable
Is it a completed sale? Is the date recent enough? Is the mileage, condition and specification close? Is the source identifiable and can you open the listing? Was the sale public or private? A comparable that fails two or more of these should carry less weight.
Weight the strongest comparables more heavily and say why.
Common traps
Asking prices from dealers are not sales. Reserve-not-met auction results are not sales. Prices from a different market or year can mislead. Cars that sold with heavy fees, or in unusual circumstances, may not be representative. Averaging everything together can hide the cars that matter most.
Also beware of survivorship: cars that did not sell do not show up in sold data, and may signal that asking prices are too high.
What a lender should expect to see
Named vehicles, dates, sources, prices, and a short explanation of how each differs from the subject. If a report cannot show its sources, ask for them. Veride's valuations and Collateral Check list the comparables used so they can be checked.
Frequently asked questions
Why not just average the asking prices?
Because asking prices overstate what cars actually sell for and vary in quality.
How recent should comparables be?
As recent as possible, ideally within the last few months, and more recent in fast-moving segments.
Are Bring a Trailer results reliable comparables?
They are public, dated and well documented, which makes them useful, but they represent one channel and should be compared with other sales.
How recent should comps be?
Generally the most recent available, with older sales used cautiously in a moving market.
Related reading
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