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How do the Kelley Blue book, Used Car pricing services, determine the prices of used cars?

Every used car has a "Blue Book" price, and depending on the wear/tear on the car, can have a low/medium/high value. How do they get this information?

Public Comments

1. By mileage, options, year, model, and condition
2. Through sample surveys and research with dealers and individuals. They then look at historical selling patterns and calculate a price range. Basically they conduct an ongoing market analysis of the car market.
3. By years of being in the business.