atreis wrote:
But how many of the trucks were beige? It's not the total size of the sample, but the size of the sample of each color for each type of vehicle that matters.
And as someone else pointed out, what's "beige" exactly? Does off-white count? It doesn't to me! That's just a shade of white.
It would matter if you were trying to find out something unique to beige vehicles, but when you’re looking for the effect color has on depreciation and resale value (something that’s common across all vehicles), you count how many of each color are in the total sales for the time period being analyzed. Setting an arbitrary sample size for each color would defeat the purpose of the study, since supply and demand play a definite role in resale values for all colors.
My take is that supply and demand for white, black, and silver are balanced for most vehicle types. There is little to no effect on the used value of a vehicle in those colors.
Apparently, whatever you want to define as beige and yellow for particular vehicles are not in balance regarding supply and demand. The demand is higher than available supply, so they command a higher price. The same can be said for beige, gold and brown on other vehicle types, but for them, the supply/demand relationship would be flipped.
In the case of trucks, I’m quite certain that the number of white work trucks sold is responsible for that color ending up in the number 2 spot. But as I said, look at the difference in depreciation between the number 1 and number 2 colors. That says there’s a huge supply, and equal to slightly lower demand.
As for how you define “beige”, it doesn’t matter as long as you use the same sorting criteria for new sales and used sales.
Now that you mention it, I used to own a vehicle that was variously described as “white”, “off-white”, “cream”, and “beige”, depending on whether it was the DMV, my insurance company, a LEO, or a friend doing the describing. I loved that color, and would buy a truck painted that color today, so I guess I WOULD buy a “beige” truck after all.
:):)