Two things to talk about here.
One, if you haven't seen the below resource before, and are keeping your thumb on the pulse for used car prices, it's about as objective as it gets. Its purely data driven, no human intervention.
https://www.copilotsearch.com/index-report-02-2023/
Second, taking the above into consideration, how much more can a 125K MSRP car really go down in value? I'm shopping a 2016 with 93K miles right now and it's priced aggressively at 28K. The above report states that things are, on average, still 30% above what they "should be". But is this segment kind of isolated from all that? Because of the high MSRPs and the significant lack of demand? Plus, 7-series are notoriously known for tanking in value FAST, does this also contribute to the current market? For me, I don't need the car now or even in the next year, I just want it as a second vehicle/toy. Is waiting another 6 months going to do anything as the used market appears to be cooling off (albeit very slow)? Like could a car like this really sell for a mere 20K once the market corrects itself?
Sorry, I know this is a tough one and the above is a bit of a long read. Curious to see if there are other pricing nerds out there who like to really understand market dynamics.