Kelley Blue Book - A Trusted Vehicle Information Resource

Here is an article from http://www.hotfact.com written by Karen Schweitzer. There will be more regular articles about the kelly blue book here at kelly blue book planet.

In 1918, a man by the name of Les Kelley opened his first used car dealership. He began with an open lot, three Model T Fords, and $450 in the cash register. Kelley’s business began to grow and by the early 1920s, he had devised a clever system to increase his vehicle inventory.
He started distributing a want list to car dealers and banks. The list consisted of types of automobiles that he was interested in buying, along with the amount that he was willing to pay for each. As a whole, the automotive community felt that Kelley’s judgment was such an accurate reflection of values that they began to request the list for their own individual use. Kelley realized that the list could provide an ongoing business opportunity and so the Kelley Blue Book was born.
First published as the Blue Book of Motor Car Values, the new guide featured the factory list price and cash value on thousands of vehicles from Cadillacs to Duesenbergs. Everyone began to recognize the value of this handy guide, including the banking and insurance industries. After World War II, even the United States government accepted the values as fact and used the book to place a ceiling on car prices.
Kelley Blue Book maintained the status of a trade publication until 1993 when a consumer edition of the book was offered. Then in 1995, the Kelley Blue Book website was launched, fueling the biggest growth in the guide’s history. Today, Kelley Blue Book values are easily accessible by consumers and industry professionals alike.
To get their values, Kelley Blue Book receives information from automobile manufacturers, wholesale automobile auctions, independent auto dealers, franchised auto dealers, rental and fleet companies, original equipment manufacturers (OEMs), financial institutions, and private party transactions. The final value is then determined by a proprietary editorial process. The collected data is analyzed, along with information like historical trends, industry developments, current economic conditions, seasonality, and location. The end results reflect the most up to date values.
There are several different values that are available through Kelley Blue Book. They include:
New Car Blue Book Values- The New Car Blue Book Value reflects a vehicle’s actual selling price. This value is based on sales transactions from auto dealers across the United States.
Kelley Blue Book Private Party Value- This value reflects what a consumer might expect to pay if they are purchasing a vehicle from a private party or what a seller might expect to receive from the sale of the vehicle.
Kelley Blue Book Trade-In Value- This value reflects what a consumer might receive from an auto dealer when trading in a vehicle.
Kelley Blue Book Suggested Retail Value (MSRP for Used Cars)- This value reflects the amount that an auto dealer might ask from consumers at an actual dealership. This value is meant to show the starting point for negotiation, similar to a new sticker price.
Since 1926, people have relied on Kelley Blue Book to provide authoritative and unbiased information in regards to vehicle values. Nearly one out of every four people who buy a new or used vehicle in the United States visits the Kelly Blue Book website, making it the number one automotive site in the nation.