Used Rolls-Royce market is cool to cold, and only Wraith is balanced

Used Rolls-Royce asking prices held steady from June to October on the three models we can compare, but only one of the four models is a balanced market. As of Oct. 1, the Wraith was balanced, the Cullinan ran cool, and the Ghost and the Ghost Series II ran cold.

The 337 used Rolls-Royces for sale have a median asking price of $187,000, though what a Rolls-Royce costs depends on the model. The cheapest car asks $58,000. The cheapest Cullinan asks $221,000.

Typical days to sell sit between 84 and 86 on all four models, so cars leave the market at nearly the same pace. The difference is in supply and markdowns.

The Wraith is the one tight market

The Wraith has 3.4 months of supply, the least of the four models. Only 27% of the 81 Wraiths for sale have taken a price cut in the last 90 days, also the smallest share of the four.

Asking prices for comparable Wraiths held steady from June to October. Older cars are listed close to the newest: a 2020 or 2019 is typically listed at about 94% of a 2021's price.

Ghost supply is deepest, Cullinan cuts widest

The Ghost is the biggest market in the brand, with 131 Ghosts for sale and five months of supply, the most of the four models. Some 41% have taken a price cut in the last 90 days. The brand's lowest-priced car is a Ghost, so the cheapest Ghosts set the floor for the whole Rolls-Royce market.

The Cullinan is the priciest model, with a median asking price of $330,000. It has the largest share of price cuts, 45%, and 3.8 months of supply, the second-smallest of the four. The Ghost Series II has 42 listings and 4.3 months of supply.

A black 2022 Ghost Gen II with 3,891 miles in Charlotte, North Carolina, is listed at $231,076, about $41,000 under its fair value. It has been listed 129 days and cut twice, most recently on Oct. 1.

Three used Rolls-Royce deals under $110,000

Of the cars for sale, 87 are rated great or good deals, and Rolls-Royces priced under fair value turn up in every model.

Two are older Ghosts. A black 2016 Ghost Series II Gen I with 33,059 miles in Tampa, Florida, asks $95,000, about $27,000 under its fair value. A dark indigo 2012 Ghost Gen I with 25,177 miles in Sharon Hill, Pennsylvania, asks $76,275, about $23,000 under.

The tightest market also has a long-listed car. A black 2016 Wraith with 30,116 miles in Philadelphia asks $109,995, about $32,000 under fair value, after one cut on Oct. 1. At 428 days listed, it is worth asking why it has not found a buyer before making an offer.