A model average can be technically correct and practically useless
If only a handful of comparable cars transact in a year, an average can blend together cars that no informed buyer would consider equivalent. One example may have delivery miles and a factory-rare specification. Another may have 8,000 miles, paintwork, incomplete history or an ordinary configuration. Averaging the two produces a number, but not necessarily a market.
The Reserve Index currently separates completed public evidence, high bids, private-market context and chassis-level review. When repeatable evidence is insufficient, the site intentionally leaves a broad-market figure blank rather than manufacture precision.
The comp set must be earned
A defensible valuation begins by narrowing the comparison set. We look at mileage band, factory specification, provenance, originality, geography, service history, ownership profile and transaction venue. On halo and numbered cars, those factors can matter more than model-year differences. For certain Tailor Made, Atelier, PTS or uncommon-color cars, the correct comp may be another exceptional configuration rather than the nearest car by mileage.
Public asks are not transactions
Dealer inventory is valuable for understanding supply and seller expectations, but asking prices are not completed trades. Auction high bids are useful too, but a reserve-not-met result remains price discovery rather than a sale. The strongest evidence comes from completed transactions that can be normalized for the car in front of us.
Outliers should inform—not automatically reset—the market
A single emotionally competitive auction, charity result or singular specification can establish what one buyer was willing to pay under one set of conditions. It should not automatically reprice every example. The Reserve Index intentionally labels headline results as evidence rather than treating them as a blanket comp.
Liquidity belongs in the valuation
There is a difference between a theoretical retail number and an executable number. If the goal is to sell within 30 to 45 days, the relevant value is the level where qualified buyers are likely to engage—not the highest visible ask on the internet. That distinction is central to acquisition, wholesale and consignment decisions.
Market commentary is general information only. It is not an appraisal, guarantee of value or investment advice. Values and availability can change quickly, and any specific vehicle should be independently inspected and verified.