According to the September Blue Book Market Report — Used Car Edition, Kelley Blue Book determined auction values for 1- to 3-year old models at the end of third quarter remained at a three-year high.

Analysts pinpointed the average at $17,085, or $280 above the average at this juncture last year. Since the start of the year, KBB determined auction values have declined an average of $731, or 4.3 percent.

In 2012, average auction values declined by $974 or 5.8 percent by the end of the third quarter.

“Kelley Blue Book expects values to continue on their downward trajectory throughout the remainder of the year, while continuing to best previous year auction values,” analysts said.

Domestic Auction Values Remain Higher Year-Over-Year

In August, KBB noted auction values for domestic brands exceeded where they were in previous years. This trend continued into September with a 2.6-percent increase year-over-year.

Analysts highlighted that Chrysler auction values have been consistently higher year-over-year, while Ford and General Motors have surpassed 2012 values in recent months.

Comparing to September of last year, KBB found that Chrysler is showing the biggest year-over-year change of 5.9 percent, with Ford at 2.9 percent and GM at 1.3 percent.

Newer Models Cost More at Auction

According to Kelley Blue Book’s auction data, the average sale price of a vehicle at auction was $11,322 in third quarter, up 3.9 percent year-over-year.

KBB said the average sale price of 1- to 6-year-old models came in at $17,375 the third quarter, climbing 6 percent year-over-year.

Analysts explained the increase in sale prices of late-model vehicles corresponds with a drop in the number of these models being sold.

“In 2007, more than two-thirds of auction sales were within the latest six model years. However, in Q3 2013, that number has dropped to less than half of all auction sales,” KBB said.

Continue the conversation with Auto Remarketing on both LinkedIn and Twitter.