[Tk718]

Hi everyone. I’m trying to see how much depreciation the m5 base incurs. A dealer is selling a 2022 cpo m5 base with 11k miles for $86,xxx. The blue book value for retail is 87k.
However when I check the trade in value to see how much the car really lost if I was to sell it after two years , I get $72k.
That’s a huge difference and this means if the Msrp on that car when it’s new is around $110k (base with executive package ) , the car depreciated $38k in two years. Am I getting this math right ? Or I’m missing something. Please help me understand. Thanks