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Why do 10 year-old luxury cars lose so much value?
I think this can be answered by answering the question "Who buys 10 year old cars?".  Generally speaking those buyers are very price conscious.  They are looking to save money on transportation rather than following the herd of people participating in the car payments merry-go-round.   The cost of parts, repairs, and gasoline for those cars do not go down over time.  Remember that many of those cars require the use of premium gasoline.  This drastically reduces demand for those vehicles, thus lowers the price. Luckily I have a really good and reasonable mechanic near me, and I can float repairs and the higher gas.  I love driving my 1999 Mercedes and it is one of the least expensive cars that I have owned while also being one of the most comfortable.