Kelley Blue Book
#1
01-30-2007, 01:56 AM
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Kelley Blue Book
Yesterday I drove from Huntington, WV to Dover, Delaware (1000 miles round trip) to pick up my new to me '93 Harley Davidson FLSTN Heritage Nostalgia #720. It looks very very nice.
Prior to the purchase, I stopped by the local HD dealer (BENJY's HD) to ask their opinion of the value of this bike. I told the saleman I wasconsidering purchasinga '93 Nostalgia. I asked if he could he give me an opinion on it's value. Hecocked his head back andsaid, " A '93 Nostalgia? I don't know! We sale Harley's here!"
I thought he was kidding. I turned to Benjy's father and said "He's pulling my chain, isn't he?" I looked at the salesman and said "a Nostalgia IS a Harley!"
The salesman, who's been one of their main salesmen for atleast 5 years said, "Harley has neverever made a bike called 'Nostalgia'!"
I said, "Oh yes they did! I believe it's a cross between a Fatboy and a Heritage Softail. They made it for 4 or 5 years beginning in '93. Look it up!"
In just a minute his face turned a little red and he said "I found it! It's worth $..." He was reading straight out of Kelly Blue Book. I had already been there and done that. I was looking for an "expert" that could let me know if KBB gave a fair representation of the market price. After all, I've always herd HD's appreciate. And, this HD was made in limited number, at a time when HD's were scarce.
Prior to the purchase, I stopped by the local HD dealer (BENJY's HD) to ask their opinion of the value of this bike. I told the saleman I wasconsidering purchasinga '93 Nostalgia. I asked if he could he give me an opinion on it's value. Hecocked his head back andsaid, " A '93 Nostalgia? I don't know! We sale Harley's here!"
I thought he was kidding. I turned to Benjy's father and said "He's pulling my chain, isn't he?" I looked at the salesman and said "a Nostalgia IS a Harley!"
The salesman, who's been one of their main salesmen for atleast 5 years said, "Harley has neverever made a bike called 'Nostalgia'!"
I said, "Oh yes they did! I believe it's a cross between a Fatboy and a Heritage Softail. They made it for 4 or 5 years beginning in '93. Look it up!"
In just a minute his face turned a little red and he said "I found it! It's worth $..." He was reading straight out of Kelly Blue Book. I had already been there and done that. I was looking for an "expert" that could let me know if KBB gave a fair representation of the market price. After all, I've always herd HD's appreciate. And, this HD was made in limited number, at a time when HD's were scarce.
It says I could expect $8720 for trade-in.It saysIcould expect to pay $12850 for retail sale.
I just bought this used FLHT in October. I got a great deal on it from an aquaintance of mine. I was in the service area at the local dealer and told 2 of the mech's that I just bought it. I asked each ofthem what they thought I paid for it. They both said $17000. This leaves me to believe that KBB is not a good source for Harley's because of their lack or limiteddepreciation.
#2
01-30-2007, 01:58 AM
RE: Kelley Blue Book
Yeah, the prices went down after the new motors and sixth gear came out.....thats how we got HC's Dyna straight across trade with a 1200c
#3
01-30-2007, 04:21 AM
RE: Kelley Blue Book
Yeah Scott, it's ugly for reselling a Harley in 2007. I was shocked when I put my 1200-mile '06 Ultra up for sale, and my dealership admitted that the new ('07) engine and trans were going to kill resales of '06s. Also, HD isn't giving the high trade-ins from past years. It's all capitalism, but they've definitely put the late 80s (AMF) in their past.
I feel for the guys on E-bay, no one is buying '06 bikes, especially not Ultras. One can pick up an SE Ultra for under $25k, with under 5k miles (or you could in December).
As for KBB's accuracy, I have found that they are very generous in their estimation of what you can expect to get for trade-in or private reseller on any vehicle. Carmax comes close to meeting KBB on some vehicles, but I don't think KBB is able to track the market for HD. On the bright side, I imagine that HD is doing better than any other motorcycle manufacturer; I can't imagine someone getting their $50k back from one of the many "custom" builders.
I feel for the guys on E-bay, no one is buying '06 bikes, especially not Ultras. One can pick up an SE Ultra for under $25k, with under 5k miles (or you could in December).
As for KBB's accuracy, I have found that they are very generous in their estimation of what you can expect to get for trade-in or private reseller on any vehicle. Carmax comes close to meeting KBB on some vehicles, but I don't think KBB is able to track the market for HD. On the bright side, I imagine that HD is doing better than any other motorcycle manufacturer; I can't imagine someone getting their $50k back from one of the many "custom" builders.
#4
01-30-2007, 12:04 PM
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RE: Kelley Blue Book
It is definately a sad time for HD and resale of older bikes, however regardless of how down they are HDs still have higher resale and trade value of any of the production two-wheelers in the market. Small upside but still an upside none the less.
#5
01-30-2007, 12:25 PM
RE: Kelley Blue Book
The book is simply a guide for what your actual value is.The place where trouble happens is when you try to take their suggestions as gospel.The book will never write you a check for your trade,just throw it's 2 cents worth in.
#6
01-31-2007, 02:32 PM
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RE: Kelley Blue Book
ORIGINAL: EZ Anthony C
Also, HD isn't giving the high trade-ins from past years. It's all capitalism, but they've definitely put the late 80s (AMF) in their past.
Also, HD isn't giving the high trade-ins from past years. It's all capitalism, but they've definitely put the late 80s (AMF) in their past.
#7
01-31-2007, 02:47 PM
RE: Kelley Blue Book
This got me to thinking. So I went on KBB to price mine.................WTF!?!
It says I could expect $8720 for trade-in.It saysIcould expect to pay $12850 for retail sale.
I just bought this used FLHT in October. I got a great deal on it from an aquaintance of mine. I was in the service area at the local dealer and told 2 of the mech's that I just bought it. I asked each ofthem what they thought I paid for it. They both said $17000. This leaves me to believe that KBB is not a good source for Harley's because of their lack or limiteddepreciation.
It says I could expect $8720 for trade-in.It saysIcould expect to pay $12850 for retail sale.
I just bought this used FLHT in October. I got a great deal on it from an aquaintance of mine. I was in the service area at the local dealer and told 2 of the mech's that I just bought it. I asked each ofthem what they thought I paid for it. They both said $17000. This leaves me to believe that KBB is not a good source for Harley's because of their lack or limiteddepreciation.
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#8
01-31-2007, 03:08 PM
RE: Kelley Blue Book
I think it's pretty clear that he paid more than the $12850.
ORIGINAL: wildwill
So..........how much did you pay for it?
This got me to thinking. So I went on KBB to price mine.................WTF!?!
It says I could expect $8720 for trade-in.It saysIcould expect to pay $12850 for retail sale.
I just bought this used FLHT in October. I got a great deal on it from an aquaintance of mine. I was in the service area at the local dealer and told 2 of the mech's that I just bought it. I asked each ofthem what they thought I paid for it. They both said $17000. This leaves me to believe that KBB is not a good source for Harley's because of their lack or limiteddepreciation.
It says I could expect $8720 for trade-in.It saysIcould expect to pay $12850 for retail sale.
I just bought this used FLHT in October. I got a great deal on it from an aquaintance of mine. I was in the service area at the local dealer and told 2 of the mech's that I just bought it. I asked each ofthem what they thought I paid for it. They both said $17000. This leaves me to believe that KBB is not a good source for Harley's because of their lack or limiteddepreciation.
#9
01-31-2007, 03:18 PM
RE: Kelley Blue Book
You have to be careful about any used car guide pricing. Dealers use one book, sellers can find books that support their asking price which could be thousands more than the book a potential buyer looks to for reference. Just because KBB gives you a price, there are usually grades/condition and other equipment variables to take into consideration.
Take a typical Harley, car from GM or Honda, Ford, etc. and look at the NADA, Redbook, KBB, Edmunds and any of the on-line pricing sites and you'll find huge swings in value between the Retail, Wholesale and trade-in from book to book.
The guides are just that, guides for a pretty average vehicle be it truck, car or motorcycle and it does not mean you can't do better when you buy or sell. Your story also points out that just because you sell something, it doesn't mean you know everything about your product.
Take a typical Harley, car from GM or Honda, Ford, etc. and look at the NADA, Redbook, KBB, Edmunds and any of the on-line pricing sites and you'll find huge swings in value between the Retail, Wholesale and trade-in from book to book.
The guides are just that, guides for a pretty average vehicle be it truck, car or motorcycle and it does not mean you can't do better when you buy or sell. Your story also points out that just because you sell something, it doesn't mean you know everything about your product.
#10
01-31-2007, 04:08 PM
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RE: Kelley Blue Book
These price guides are based on statisticalaverages gathered from the market, which does not include most private sales. The FLSTN was a fairly limited production run, which has become particularly appreciated by discriminating enthusiast. Unfortunately the market averages can't account for every deviation. So if you bought the bike as an investment in time it may pay-off, if you bought it to ride well your riding in style and in time someone may make you an offer you'll have a tough time refusing. IMO
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