I think you are both looking at it through one sided specs...
A ferrari is worth 75K for arguments sake. During the credit crunch the owner sells it for 50k cause no one could afford it.
Is it worth 75k still or 50k?
It is true that it is still 75k of car but the fact that people will only pay 50k for it reduces it's value to 50k.
At the end of the day it is no good saying your car is worth 75k is everyone else will only pay 50k for it. If you can get someone who thinks it is worth stumping up 75k for it then good deal. If not though you will have to accept that to most folk it is only worth 50k and sell accordingly.
In a way you are both right. KEV is right in suggesting that the car can be worth the higher amount BUT ONLY IF SOMEONE ACTUALLY PURCHASES IT!
The rest are right in suggesting that the lower price is correct as this is what will actually be paid.
Whether you agree or not the car is only worth what you can get for it.
Now let's try and be a bit more civil to each other in here. It's a bit tiring just reading folk hurling insults at each other!
