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Author Topic: Figuring value of bus?  (Read 3483 times)
robertglines1
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« on: January 05, 2011, 04:14:42 PM »

I have to realize soon I will be a 2 bus guy and only need one. How do you assign value? I know it is a depressed market:and it will in the end be what buyer and seller agree upon. Here are a few facts. 89 Prevost XL ,2 slides,prob 100,000 miles expected before any engine work(have records) runs cool,Gen set with 400hrs. prob tires in 4yrs or 40,000 miles (average). Entertainment center and fridge in bay. Basement air,polished stainless,straight body. Plus all the standard conversion things. Just starting thought process so all input considered.   Bob     Plan on 98 being done in May-June
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Bob@Judy  98 XLE prevost with 3 slides --Home done---last one! SW INdiana
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« Reply #1 on: January 05, 2011, 04:39:35 PM »

I have a post on BNO forums about my bus. Mc6 what's it worth
This is a complete overhaul roof raise floor lowered new skins new engine trans and custom everything.
Results weren't good far as price. Your bus is newer though.
Gary
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Gary Seay (location Alaska)
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« Reply #2 on: January 05, 2011, 04:52:54 PM »

There are 2 ways to price things. You can price to sell or price to keep!!  To determine the value of a converted bus is almost impossible on the internet. Too many variables. Say someone is asking $100,000 for a bus, but it has been sale for 2 years, Bad market, priced too high or poor conversion??

 I looked around a bit, then decided what the minimum I would take for my bus was or I would keep it.
Then listed it on Ebay with that as a reserve price. I ended up with 2 buyers, slightly over the reserve.

 Regardless of what I think or what others are selling for or what it is appraised at. It's only worth what someone will pay for it!!  No more no less. And no I am not happy with what I got.

 My favorite remark when buying a vehicle is when the sales person says book value on it is $XXXX I tell them to sell it to the book. Sometimes I crack myself up Grin   HTH JIm
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robertglines1
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« Reply #3 on: January 05, 2011, 05:32:20 PM »

I would have ask 45 a year ago but now more realistic 30 to 35.  Am I dreaming? Bob
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Bob@Judy  98 XLE prevost with 3 slides --Home done---last one! SW INdiana
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« Reply #4 on: January 05, 2011, 06:22:18 PM »

After thinking about it a while, I think there are a several things that set the value of our buses besides the economy.
1- what will it appraise for?
2- what will the bank loan on it?
3- what will it insure for?
4- what will we sell them for?
I build and sell houses in Alaska, and if a few guys sell their houses for less than you have got to or you will sit on it for a long while.
Just my thoughts
Gary
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Gary Seay (location Alaska)
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robertglines1
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« Reply #5 on: January 05, 2011, 06:37:17 PM »

Bank probably won't lend on anything over 10 yrs old. Will be a semi secured personal loan. I'll part it out if necessary. or give it to kids. No regrets either way!. Prob set price and start advertising in BCM. If no takers then will decide. Just fishing now.Maybe a little sad that times are tough.
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Bob@Judy  98 XLE prevost with 3 slides --Home done---last one! SW INdiana
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« Reply #6 on: January 05, 2011, 06:46:34 PM »

Not sure but I think the bank would consider it a home loan. I'll have to check on that and see what they will loan on mine. Can't hurt

Gary
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Gary Seay (location Alaska)
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« Reply #7 on: January 05, 2011, 07:08:01 PM »

When you get the asking price down to where you are receiving inquires your there.

If you are not getting responce after a few weeks with a specific asking price its too high

I know a few sellers with campers for sale for 2 years, they would gladly NOW take way less than offers they turned down early on.  I think this is a common mistake.
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robertglines1
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« Reply #8 on: January 05, 2011, 07:18:06 PM »

I know Joe I have no delusions of high dollars. The Engine trans combo in it's present condition (Good) should bring more as a seperate unit. With all the windows ,generator,AC's differential.Caps bay doors ,awnings,radiator and scrap of metal left.comes to a minimum value.I know a local operator will pay 200 a piece for side windows(over 500 from prevost). or just give it to kids. Just sort of depressing. Enough Bad Carma for awhile.   Bob
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« Reply #9 on: January 05, 2011, 07:23:10 PM »

Hi Bob,
Is it an 8V92T ? How tall is it? Is there a picture here on the board somewhere?
Fred
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Fred Thomson
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« Reply #10 on: January 05, 2011, 07:26:53 PM »

Bob -

Do multiple searches using Google, crazedlist.org, and all the various other bus sales sites, to see what's out there and what the current advertised price is.

A spreadsheet might help you keep the info organized.

Once you come up with an average price for your age-vintage coach, you'll have a better grasp of the market, and can price yours accordingly.

But before you do, you might "shop" the others that are for sale, and find out if they've sold.  If so, ask for a ballpark "how much?"  If not, you'll know they're priced out of the market, maybe.  However, do NOT let the folk on the other end know you've got one for sale - shop as a buyer!!!

Selling in today's market is sort of like buying - you've got to do your homework!

FWIW & HTH. . .

 Wink



PS:  Wish my dad would give me his coach!  (If he was alive and if he had one, that is!)

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robertglines1
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« Reply #11 on: January 05, 2011, 07:28:45 PM »

8v-92 T just rolled new bearings in it (didn't really need but since I had the pan off I did it anyway) does not have raised roof.Will try to find link to pictures posted at BK's. Bob
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Bob@Judy  98 XLE prevost with 3 slides --Home done---last one! SW INdiana
robertglines1
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« Reply #12 on: January 05, 2011, 07:43:39 PM »

Moderator's did not mean to be a sales thread just trying to figure out where to start. WILL advertise in BCM when the time comes. I need to get my thoughts together and was looking for guidance.  Was maybe venting a little also.  Bob
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« Reply #13 on: January 05, 2011, 08:56:42 PM »

  To rich for my blood im sure. But perhaps some advice from a tire kicker may be of use? Many sellers seem to feel they will sell locally, and are almost impossible to deal with from out of town. Buyers need pictures, especially when they are a long distance away, and I feel buyers are smart enough to see past sellers hiding things by cutting off pictures, or not showing particular areas that arent as nice as the rest of the Bus. But nobody needs a flood of GIANT picture files that take hours to load either. Take a pic of every area, good or bad. Its nice to get wide views, long shots inside front to back, we want to "see" the bus as much as possible. All the descriptions in the world wont make up for some good pictures. And we dont need three of the same pic either.

  IMHO, craigslist is more than sufficient as a selling medium. Anyone is this day and age thats not looking on Craigs to buy things is not really looking very seriously. There are tons of Buses on that site and I search it daily.

  The value of these things is rather subjective. IMHO it is "condition, condition, condition, more than almost any other factor that brings the value. Looking at Buses for sale and seeing filth and crap all over really deteriorates the image.

  New tires? They are worth maybe half retail at best once you roll out of the shop. Be serious about their value.

  New engine? Really, the engine is worth wrecking yard value. Same with the rest.

  First, value the Bus as a shell, whats a comparable shell selling for. Not asking, selling. Then figure a realistic value you would pay if you were buying your bus as its converted, and be realistic and honest. In most cases many sellers far overvalue thier stuff, far above what they would pay themselves. What it cost beforehand is irrelevent.

  I know I am by no means an expert, but neither is anyone else. My feeling has always been that if I havnt gotten any serious lookers in the first week, the price is too high. Others will certainly feel differently. There are buyers out there, but as the price goes up, the number of prospects goes down. And the longer its on the market, the less anyone looks at it. Infact they stop. At that point even dropping your price wont help if everyone has stopped looking at your bus. The bottom line is if you price it fairly, have good pictures, dont hide anything, and its in good condition, it will sell pretty quick.
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« Reply #14 on: January 06, 2011, 02:34:24 PM »

I can personally tell you Bob's bus is very nicely done! And the center Island is way too cool! I'll have to dig out the laptop and get the pics posted if Bob can't find any or the referred to link.
Good luck Bob, and if not able to sell at a reasonable cost I'd suggest "leasing" it to the kids providing they keep up the tags, ins, and maintenance! (don't have to charge much or any for the lease just a way to "take it back" in case they don't keep it up or a serious buyer comes along) instead of just giving it to them. (basically saying "it's yours to use, as long as you pay the expenses and keep it up, unless it sells")
Just my opinion.
Grin  BK  Grin
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« Reply #15 on: January 06, 2011, 03:02:11 PM »

if I could afford it i would snatch the bus up in a heartbeat. but until i get in a situation where that is possible i will just have to dream of it. but I do like Bk's idea of leasing it.
That way you don't have to take such a hit in its value.

Mark
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« Reply #16 on: January 06, 2011, 03:06:32 PM »

if I could afford it i would snatch the bus up in a heartbeat. but until i get in a situation where that is possible i will just have to dream of it. but I do like Bk's idea of leasing it.
That way you don't have to take such a hit in its value.

Mark

Mark my "lease idea" was for his kids only. But it could be leased to someone else I suppose.
(personally I wouldn't lease it to "just anyone" as it is a very nice bus. too nice to be scrapped if you as me!)
Grin  BK  Grin
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« Reply #17 on: January 06, 2011, 03:21:21 PM »

sorry that wasn't my intention to present that as if I wanted to lease it. I was saying I thought leasing it to his kids was a good Idea. that way he don't have such a large financial loss. and he could keep tabs on its care and maintenance.

Mark
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« Reply #18 on: January 06, 2011, 03:30:14 PM »

I have not seen the bus, but from your participation on this board, I would assume it to be nicely done and well maintained.  Unfortunately, a stranger/buyer just sees it as a sort of crap shoot, so a lot gets discounted in his mind.  However, although the current market is a bit depressing for sellers, don't let yourself get too pessimistic.  There is a buyer for it out there.  If you are not desperate to sell it, you don't have to act or feel like you are.  Just hope for lower fuel prices.  High fuel will chase a lot of people away.

Oh yeah, if you lease it to family, you'll still be able to work on it.  That's what you really wanted to begin with anyway, right?
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« Reply #19 on: January 06, 2011, 03:39:30 PM »

lol----Son Andy just got a toter home w/12 ft quarters.So he don't need it. Not really worried about kids taking care of it! They grew up working on it and other buses we have had over the years. Would just like to see it find a good home with someone that would improve on it and enjoy it. A bus is never done! Really don't want it to just sit and watch newer bus leave on trips.              Lin  what I really need is to free up some space in shop. Getting better down to 2 major projects now. The 98XLE and a 36 Dodge 1 1/2 ton on a 550 E ford chassi.   Bob
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« Reply #20 on: January 07, 2011, 08:29:48 AM »

Hey Bob,

I remember seeing pics of the bus and it is very nice. When you do start listing it for sale maybe consider some trades....maybe somebody out there has another toy you would enjoy. I know in the past I have found that when it comes to liquidating these "toys" it is easier to do so in trades. And as long as you get something else of equal value to you....or maybe easier for you to resell....just a thought.

Phil
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« Reply #21 on: January 07, 2011, 09:04:59 AM »

that is how i got my 7. I traded my motor yacht for it. (the yacht was a project also) I think i got the better end of the deal. the bus has an engine and drives. the yacht the engine was sitting on the floor waiting to be put in.

Mark
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« Reply #22 on: January 07, 2011, 09:31:18 AM »

We had to pretty much give ours away at the price we let it go. We had several people interested that wanted us to finance it or them at a higher price. We were leary of that, as a lot of people dont realize what they are getting into with a bus and dont have a clue of the time and money to keep it going.  We had to find her a home, didnt want to keep her just sitting around. In the end though, glad it went to a good home, and made someone really happy.
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« Reply #23 on: January 07, 2011, 09:56:53 AM »

Robert, for 30 or 35 sounds low with slides but, I would put it on Ebay with a high reserve just to see what it does. It will be your choice to take an offer under the reserve. One thing to do is start it at least $30,000. When I look at buses I search them from highest price to lowest to remove all the VWs out. I know I am not looking for something to build. A real buy filters all those out too. I think people loose on people seeing them when I do see a $50,000 item with a $500 starting price. Hell I would just love the slides. That is where your selling points are. I know you put your in yourself but have you ever looked to see what it cost for us that can't nor have the time. Good luck. I did just see someone asking for a prevost for sale on this board.
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« Reply #24 on: January 07, 2011, 10:37:39 AM »

While I am not a big fan of buying on the e-place, I do tend to see whats listed there to see if anything is local. I tend to be more interested in the "Buy It Now" items since you have a starting point to negotiate a price. As Eddie pointed out, sometimes you see a 50K bus with a $500 starting bid and "reserve not met" and you have no idea what the seller will accept. A lot of time can be wasted on those type of auctions. I also check out the buses listed here on the MAK site and that is where I would probably go if I had the funds to spend on a $30K plus coach.
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« Reply #25 on: January 07, 2011, 01:18:14 PM »

I sold mine off Eplace, it is a cheap way to get national exposure. It can be used to see what people are willing to pay. But only by scrutinizing what people have bid and not asking price.

 Most on this board are way ahead of me and probably know this, but when looking for items on Eplace if you want to get a real eye opener click on completed listings. The prices in red have not sold, the ones in green have sold!

 I am looking for a Scion XB, out of 32 recently advertised only 2 have actually sold. What percentage is that about 6% Huh Unless you have nothing better to do it makes bidding a waste of time.
                                                    HTH  JIm
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« Reply #26 on: January 07, 2011, 01:37:29 PM »

If there is a reserve, I generally write the seller and ask what it is rather than waste time watching something that ultimately costs more than I am willing to spend.  Most sellers will tell you the reserve.
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« Reply #27 on: January 07, 2011, 03:55:52 PM »

Eplace?Huh?     Why not call it what it is?........Ebay

What purpose does it serve to change or modify the name? I am not being smart, I truly want to know, because it seems to pop up often, and I'm not getting the why of it.
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« Reply #28 on: January 07, 2011, 06:25:38 PM »

Eplace?Huh?     Why not call it what it is?........Ebay

What purpose does it serve to change or modify the name? I am not being smart, I truly want to know, because it seems to pop up often, and I'm not getting the why of it.

 Neither do I and I do it!    JIm
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