TL;DR
Car valuations in Australia come from three main sources: Glass's Guide (used by insurers and lenders), RedBook (widely used by consumers), and live market data platforms like AutoGrab (based on current listings). Book values tell you what a car should be worth based on historical data. Live market data tells you what sellers are actually asking right now. RegoVerify's Full Report includes both Glass's Guide and live market valuations so you can see the full picture before negotiating.
Why valuations matter when buying a used car
Knowing what a car is actually worth before you negotiate is the difference between getting a fair deal and overpaying by thousands. A vehicle listed at $22,000 with a book value of $15,000 is either significantly overpriced or the seller is hoping you will not check. Either way, you need to know.
Valuations are not just for buyers. Insurers use them to determine payout amounts after write-offs. Finance companies use them to calculate loan-to-value ratios. And sellers use them to set realistic asking prices — or at least they should.
The problem is that there is no single “correct” valuation for any vehicle. Different providers use different methods, data sources, and update frequencies. Understanding how each one works helps you interpret the numbers and use them effectively.
Glass's Guide: the industry standard
Glass's Guide is the valuation standard used by most Australian insurance companies, banks, and finance providers. When your insurer calculates the “agreed value” or “market value” of your car, they are almost certainly referencing Glass's data.
Glass's valuations consider make, model, year, variant, body type, engine size, and transmission. They provide three key figures:
- Trade-in value — what a dealer would offer you if you traded the car in. This is the lowest figure and reflects the dealer's need to make a margin when reselling.
- Retail value — what you would expect to pay buying from a dealer. This includes the dealer's margin, reconditioning costs, and any statutory warranty.
- Wholesale value — the price at which the car might trade between dealers at auction. This sits between trade-in and retail.
Glass's data is based on actual transaction records, auction results, and expert analysis. Valuations are updated monthly. The data is not freely available to consumers — you typically access it through a paid vehicle history report or through an insurer. RegoVerify's Full Report includes Glass's Guide valuations sourced through InfoAgent's data feed.
Why Glass's matters for insurance
If your car is written off, your insurer will use Glass's Guide to determine the payout. If you insured at “market value,” the Glass's retail figure at the time of the claim is roughly what you will receive. This is why it is worth knowing the Glass's value of any car you are about to buy — it tells you what you would get back if the worst happened.
RedBook: the consumer favourite
RedBook is the other major valuation provider in Australia. It is owned by Carsales — the same company that runs carsales.com.au, RedBook.com.au, and the CarFacts vehicle history service. This gives RedBook access to an enormous dataset of listing prices and buyer enquiry data from Australia's largest automotive marketplace.
Like Glass's, RedBook provides trade-in, private sale, and retail valuations. The methodology is similar — based on market transactions, auction data, and vehicle specifications. The key difference is accessibility: RedBook offers free basic estimates on their website, making it the first stop for most Australian consumers checking what a car is worth.
The free RedBook estimate is a useful starting point, but it has limitations. It does not adjust for individual condition, actual kilometres (beyond broad bands), service history, or aftermarket modifications. The paid RedBook reports provide more detail, but for most buyers the free version is sufficient to establish a baseline.
Live market data: what cars actually sell for right now
Glass's and RedBook valuations are based on historical data — transactions that happened last month, last quarter, or longer ago. They are backward-looking by design. This is fine in a stable market, but when prices shift quickly (as they did during 2021-2022), book values can lag behind reality by weeks or months.
Live market data platforms solve this by analysing current listings across Australian automotive marketplaces in real time. Services like AutoGrab monitor what cars are listed for right now — not what they sold for last month. This gives you a current snapshot of asking prices for comparable vehicles.
Live market valuations typically include:
- Estimated retail value — what similar cars are currently listed for across dealer and private sale platforms.
- Estimated trade value — what dealers are likely offering as trade-in based on current wholesale market conditions.
- Price range — the upper and lower bounds of comparable listings, showing you the full spread of the market.
The limitation of live market data is that listing prices are not transaction prices. Sellers list high and negotiate down. Actual sale prices are typically 5-10% below the asking price. So live data tells you what sellers want — not what buyers actually pay.
Which valuation should you trust?
The honest answer: use all of them, and look at the range.
Glass's and RedBook give you the “official” value — this is what insurers, banks, and finance companies use. If you are buying a car and need to finance it, the lender will use book values to determine the loan amount. If you need to insure it, the insurer will use book values to set the premium and any future payout.
Live market data shows you what the market is actually doing right now. The gap between book value and live market pricing is informative:
- Live prices higher than book value — the market is hot for that model. Demand exceeds supply. You may need to pay above book value, but be cautious about overpaying.
- Live prices lower than book value — the market has softened. There is likely more supply than demand. You have room to negotiate below the asking price.
- Live and book values aligned — the market is stable for that model. The asking price should be close to the retail book value, with standard negotiation room of 5-10%.
How RegoVerify uses valuations
RegoVerify's Full Report ($14.99) includes two layers of valuation data:
- Glass's Guide valuations — trade-in, wholesale, and retail values sourced through InfoAgent's data feed. This gives you the benchmark that insurers and lenders use.
- Live market valuation — current listing analysis via AutoGrab, showing estimated retail and trade values based on comparable vehicles listed across Australian platforms right now. Available for cars and motorbikes.
Having both in one report lets you compare the official book value against what the market is actually doing. If the seller's asking price is well above both figures, you have strong grounds to negotiate or walk away. For more on what is included in each report tier, see our data sources page.
Quick Check does not include valuations
The $4.99 Quick Check focuses on PPSR status, stolen vehicle checks, and write-off data. If you need valuation data to help with price negotiation, you will need the Full Report. For a detailed breakdown of what each tier includes, see our comparison of vehicle history services.
The bottom line
A car is worth what someone will pay for it — but informed buyers pay less. Glass's Guide and RedBook give you the official benchmarks. Live market data shows you the current reality. Used together, they tell you whether a car is fairly priced, overpriced, or suspiciously cheap. Before you negotiate on any used car purchase worth more than a few thousand dollars, check the numbers first.
FAQ
Frequently asked questions
Is Glass's Guide or RedBook more accurate?
Neither is objectively more accurate — they use different methodologies and data sources, so they often arrive at slightly different figures. Glass's Guide is the standard used by most Australian insurers and finance companies for vehicle valuations. RedBook (owned by Carsales) is more consumer-facing and widely used for online estimates. For insurance and finance purposes, Glass's tends to carry more weight. For getting a general sense of what a car is worth before buying or selling, both are useful. The best approach is to check both and treat the range between them as a realistic value band.
How often are car valuations updated?
Glass's Guide and RedBook update their valuations monthly based on new transaction data, auction results, and market trends. However, live market data platforms like AutoGrab update continuously — they monitor active listings across Australian platforms in real time. This means book values can lag behind sudden market shifts. During periods of rapid change (like the used car price spike in 2021-2022), live market data gives a more current picture than monthly book values.
Can I get a free car valuation?
RedBook offers free basic estimates on their website based on make, model, year, and variant. Carsales also provides free indicative valuations through their platform. These free tools give you a rough starting point but do not account for individual condition, kilometres, service history, or regional pricing differences. For a more precise valuation, Glass's Guide data is available through paid vehicle history reports — RegoVerify's Full Report ($14.99) includes Glass's Guide wholesale and retail values alongside live market data from AutoGrab.
Why does the advertised price differ from the book value?
Advertised prices are what sellers hope to get — they are aspirational, not transactional. Book values from Glass's and RedBook are based on actual completed transactions and expert assessment. The gap between the two reflects negotiation room, seller optimism, and market conditions. A car advertised at $25,000 with a Glass's retail value of $21,000 is likely overpriced unless it has genuinely low kilometres, a full service history, or desirable options that justify a premium. Conversely, a car priced below book value should prompt questions about why — there may be undisclosed issues.