I just checked a couple of trucks against the KBB website and noticed that prices asked for (in Vegas) appear to be way out of line - in the sense that the asking prices are a lot higher than KBB private sales. And not by a few hundred either, we're talking $2k+.
Is that normal, is KBB not such a great source for prices or is it just a few people dreaming when they put up the ad?
I trust www.edmunds.com much more.
I've never used Edmunds. I actually use kbb.com as a resource for work in my insurance gig. The key is to use private party and not retail value which sounds like you figured out. You may be running into stupid people who are pricing their vehicles based on retail (because everyone uses the internet now to price cars) hoping even stupider people will pay that.
kbb.com is not 'recognized' as a legal source in my state for insurance settlements, but when I've checked them against our pricey Autosource valuations they are usually pretty darn close, so I think they are generally a useful tool.
Thanks ddavidv, that's very useful - I kind of suspected that it was people overpricing their vehicles (which explains why they hang around for weeks) but I needed a little reassurance that my gut feeling wasn't entirely off.
In reply to BoxheadTim:
For "appliance" cars KBB does a decent job. For more specialized cars (like many of use would be looking for) it's spotty at best.
Back when I worked at a dealership, they used Galves.
I generally use Edmunds.
I use this board.
I've found that if you're shopping for a Miata or a Jeep, throw the book away, get there before anyone else and make an offer that you're comfortable with.
Wisconsin Miata prices and kbb prices are generally off by a decimal point for the first couple of years of the NA.
Try looking up the values for a Land Rover Defender, or a MKIV Supra, or a Viper GTS. Then trying find one for that price 
For common cars, I typically use Edmunds and KBB, but the most accurate way is to watch for what similar cars are going for. Ebaymotors, Craigslist, Autotrader etc...
The MkIV Supra and FD RX-7 seem to be the most heinous examples of KBB inefficiency.
I would love to pick up an FD RX7 for what they quote. I made a post about a month back about wanting to pick up a Viper GTS at their cost too. Not gonna happen any time soon 
To clarify - we're talking appliance vehicles here (a 4WD F250 in this particular case), not specialist vehicles like Miatas or RX7s (or Jeeps).
I always preferred NADA: http://www.nadaguides.com/
NADA seems to be missing the 'private sale' valuation, tho'
I consider myself very lucky if I can find any Honda selling for around KBB value. People charge way more for them (around here, anyway) and they sell too.
Go to KBB.com, Edmunds.com and NADAguides.com get the HIGH average of all three if you are selling, LOW average of all three if you are buying.
NADA is the most useless, in spite of their hype. Retail value is meaningless. The only people that pay that are idiots.
