High price for a Winnebago?

In my search for a Winnebago coach I have found one I really like. It is a 20 year old coach but is in very good condition for its age. The problem is that the owner is asking more than 5 times the NADA retail price. I know that NADA is traditionally low, but I feel 5 times their estimate is outrageous. Do you think the owner would be offended by a "reasonable offer" or should I just walk away from this one? It is exactly what we were looking for, but there are a lot of other Class A MHs out there.

Personally, I would never be concerned about offending somebody by offering a low-ball price.  Especially, I would not be concerned about offering a fair price to someone who has a RV priced at 5 X NADA.

Go for it................... you may end up buying it.

Not certain how realistic the NADA guide is;  I would use RV Trader as one sanity check.  What year/model Winnebago is this one?

Like George, I would have no problems offering the guy 20% of his asking price but I would be armed with some price data research to support your offer.  Some people have a completely unrealistic view of what their stuff is really worth.

A NADA RV guide is just a guide to current motor home values based on a percentage of the original list price. That may or may not be anywhere near what that model is currently selling for. In addition, NADA RV guide prices can be significantly lower than the Kelley prices.  You are insulted by the high price, so don't be afraid to "insult" the owner with what YOU believe to be a reasonable counter-offer. You may or many not come to an agreement, depending on how badly the owner wants/needs to sell vs how badly you want that particular unit.

..................and the NADA guide is totally hit and miss on a 20 year old coach.  Do an internet search of models of that year vintage that have sold/for sale.

On a 20 year old coach, NADA is pretty much meaningless and condition is everything. The book value is low, so being well over book doesn't necessarily mean it is overpriced.  Still, 5x is a lot. Make your offer based on condition & mileage and leave a phone number if he laughs. He may well call you back in a month or two.

Check rvt.com and rvclassified.com (etc) to get a feel for the range that people are asking for the same make & model. They will be all over the map, but it sill still help.

...just my opinion.....

Doug, if it is something you "really like", then why not make on offer?
And if the owner is offended by an offer, he/she needs to consider that maybe their asking price is out of line. As noted, people do think their stuff is of "X" value, but that does not mean someone else is willing to pay them "X" for it. Fact is, people can think whatever they like! (delusion can be a grand thing)

To me, it seems too early for you to "...just walk away from this one" right now, especially if "It is exactly what we were looking for..."
And you are right, "...there are a lot of other Class A MHs out there". So making an offer on this one is worthy of you trying - and if it is a 'no go', then move along.

regards, peter

Might be the 5x NADA is his payoff.  I have seen variations of that in the RV biz.  Offer a customer the trade value and he exclaims I owe 3 times more than that.  It happens.  5 times?  dang.  Then again, the other thing is ask high get what you can.  If you ask low and it gets grabbed, you feel like you left money on the table.

This is a VERY low mile coach. This is why this gentleman thinks it is so valuable. This coach has less than 500 miles per year. Myself, I would feel better with a high milage newer coach. A coach that has done a lot of sitting worries me.

Agree - just sitting around is not good. And everything rubber or fabric still ages, regardless of use. Metal still fatigues and rusts. Paint fades, Etc. Etc.

I have no problem with an old RV in cherry condition being priced at 2x the average book value. Maybe even 3x, since the average is pretty low. But 5x???  It stretches the credibility more than a bit.

Completely agree with Gary!

ditto...

Now if it had been stored off the suspension in a hermitically sealed mayonaise jar on the back porch of funk and Wagnalls for this time, then 5x might be a bargain.  Otherwise, it is just a low mile coach many years old.  Offer what you are willing to pay and walk away. 

Seems you have sage advice.  From a seller perspective it is interesting that all the "book" values are averages for vehicles in conditions ranging from poor to excellent but the largest variable is who is selling and who is buying.  If a "dealer" is selling the book price magically goes up but if a dealer is buying, the price magically goes down.  If an individual is selling or buying the price is the same.  Never made any sense to me. 

So, an "excellent" vehicle sold by a dealer is pretty expensive and you cannot easily talk to the previous owner.  An identical vehicle, kept in a garage and meticiously maintained by an individual has a lower book value even though you can discuss the vehicle with the person who has owned it for 20 years, in this case.

It's worth whatever you and the seller agree it's worth.  I'd much rather get a vehicle with a known history than one with an unknown history.  Public records and a detailed inspection can reveal quite a bit of info...  No matter what the condition, 5X would be a red flag but if it is exactly what you want and is in better than new condition... it can happen... depending on the mods and changes done, maybe it's worth it, to you.  Hard to say, but there are many vehicles that are selling for more than 5X's their original price in auctions... usually collectible cars that are rare though.

Also depends on what you plan to do with it... keep it in the remarkable condition as you found it or use it often wear it down.  A few years of heavy use will take a toll.  If you want it as a collector, it is a whole different story.  An authentic original is often worth more than a restoration.  Who knows...?

something else to consider, are you planing on paying cash or borrowing? most banks wont borrow on a coach over 10 years old.

I have a neighbor in the RV park who is parked next to me and has his motorhome for sale. He wants $85,500 for it and says he is firm on the price. I went into the Internet and found several listings around the country for the same exact motorhome with mileage the same or even less that were asking $72,000. This owner has had it for sale since March 2010. I have heard of only one person who looked at it and walked away because of the price. Some people just have an inflated view of what their rig is worth. You can offer a lower price but they won't take it until they are motivated to actually sell like they need the money for something else. Otherwise it just sits.

I made an offer on an old Case 450C bulldozer (circa 1970s) about two years ago - it was on consignment at a tractor dealer's lot.  It had been there for several months and I finally stopped and checked it out.  The owner wanted 14K for it and it was really worth in the 8-9K range (I had a real good feel for the small dozer market.)  The dealer said he would come down on price, but probably not that much.  I said to contact him anyway and sure enough I never got a call back. 

The dozer sat there for several more months and then I noticed it disappeared.  Maybe he finally sold it or gave up.  Any object or service is worth what a well-informed buyer will pay a well-informed seller,  if there is an emotional attachment or 'baggage' on the part of the buyer or seller, then the equation changes.

taoshum said:

Also depends on what you plan to do with it... keep it in the remarkable condition as you found it or use it often wear it down.  A few years of heavy use will take a toll.  If you want it as a collector, it is a whole different story.  An authentic original is often worth more than a restoration.  Who knows...?

Click to expand...

My plans are to wear it out. I will pamper the mechanicals but it will probably be used 20 to 25 times per year. Lots of miles with dogs & grandkids. This is why I don't want an expensive newer model. We have totally worn our travel trailer out in the last couple of years.

I would pay cash. I just want something nice enough to not embarras my family but not fancy enough to have to worry about every scratch & dent. Most of our camping is less than 500 miles.

Doug if you would tell us what Winnebago/Itasca model, year, mileage you are looking at maybe we could offer you some additional opinions.
Regards
Dick

Yes some details would be nice.

I looked up a random 1991 Winnebago. Low retail, no options, no mileage adjustment, was just under $5000. Does that come close? Someone is asking $25,000 for a $5000 motorhome? That does sound high, there's A LOT of motorhomes in the $25,000 area. I know if I was looking to spend that, it wouldn't be for a 1991 model! (Not that your budget is $25,000, but that is what is they are selling against.)