Kelley Blue Book for pricing of used bikes?
#11
06-01-2012, 07:33 AM
Lenders and insurers use NADA.
Dealers like to use Kelley to sell (KBB puts a higher retail value on it than NADA)
In the car business for trade in value they have Black book value that is for auto dealers only.It's lower then both NADA and Kelley.Not sure if bike dealers have the same.
I have a friend in the auto business and when I'm shopping for a used car he will check the Black book value for me to let me know what the dealer probably gave for it in trade or auction.
Dealers like to use Kelley to sell (KBB puts a higher retail value on it than NADA)
In the car business for trade in value they have Black book value that is for auto dealers only.It's lower then both NADA and Kelley.Not sure if bike dealers have the same.
I have a friend in the auto business and when I'm shopping for a used car he will check the Black book value for me to let me know what the dealer probably gave for it in trade or auction.
The other stuff you mention, well you have to know what's what. I've seen guys try to put together a price to sell using everything listed on the options checklist and if your not an educated consumer you may not know they added extra money for a standard feature because KBB or NADA listed it as optional.
#12
06-01-2012, 07:42 AM
Thanks for posting this!
Having just checked both, as a seller or an insured situation I'd prefer NADA which gave a breakdown of condition prices that is very easy to understand.
My '86 in what I consider to be "very good" condition is worth $7720. If it was mint, or excellent condition it's valued at $13,150. Even one step down "fair condition" was $4645.
KBB was a flat $4070. They gave no choices based on condition ... which means to me they are not as thorough in stating a value.
I just had a conversation with my insurer about the value of my ride if it was totaled how they would base their pay off. They said they use blue book rates.
Guess I'll be talking to them again today for more clarification. I would consider the situation a huge loss based on KBB. However I have documented the condition of the bike and all of it's restoration costs. I'm embarrassed to say I have almost $12,000 into it and that's not fancy chrome this and that. Other than upgrading the radio and no longer having a factory unit with CB everything has been gone over and repaired or replaced, or upgraded.
My '86 in what I consider to be "very good" condition is worth $7720. If it was mint, or excellent condition it's valued at $13,150. Even one step down "fair condition" was $4645.
KBB was a flat $4070. They gave no choices based on condition ... which means to me they are not as thorough in stating a value.
I just had a conversation with my insurer about the value of my ride if it was totaled how they would base their pay off. They said they use blue book rates.
Guess I'll be talking to them again today for more clarification. I would consider the situation a huge loss based on KBB. However I have documented the condition of the bike and all of it's restoration costs. I'm embarrassed to say I have almost $12,000 into it and that's not fancy chrome this and that. Other than upgrading the radio and no longer having a factory unit with CB everything has been gone over and repaired or replaced, or upgraded.
#13
06-01-2012, 08:07 AM
You might scoff and ride away but there are motivated sellers out there that will sell to a private party at trade value. I've bought 6 bikes in the last three years at or below trade-in value. Deals like that are out there, just need to be patient and have the cash ready. Some sellers on the other hand expect to get full retail +, for a private party sale with no warranty, and are firm on the price. They are the jackwagons.
#14
06-01-2012, 08:15 AM
I tried this just for fun and it shows the '11 RKC with the 96" when it came standard with the 103". It also asks if you have the optional engine guard, saddlebags, oil cooler, windshield etc., all of which were standard It doesn't even show the 103 as an option. Makes me wonder about how accurate the rest of it is.
#15
06-01-2012, 08:16 AM
Dont know about a "black book" value. My father sold cars for 50 years and they always used NADA. But you only get what they show as wholesale value from a dealer. theres also loan value and retail value. Wholesale is what dealers give for trade and sell to other dealers for.
#16
06-02-2012, 11:20 AM
Cruiser
You might scoff and ride away but there are motivated sellers out there that will sell to a private party at trade value. I've bought 6 bikes in the last three years at or below trade-in value. Deals like that are out there, just need to be patient and have the cash ready. Some sellers on the other hand expect to get full retail +, for a private party sale with no warranty, and are firm on the price. They are the jackwagons.
Private sellers waiting to get retail value are just waiting for the right idiot.
#17
06-02-2012, 12:05 PM
Cruiser
Join Date: Aug 2011
Location: Mass
Posts: 218
Likes: 0
Received 0 Likes
on
0 Posts
Maybe you shouldnt think of it as a battle. It is a negotiation. You want a product somebody else has and they want your money. The real question is who wants what more.
Oh, and for the jackwagon that only offers trade in value to a private seller. I would LMAO and ride away as quickly as possible. If you only want to pay trade in value start a dealership.
Oh, and for the jackwagon that only offers trade in value to a private seller. I would LMAO and ride away as quickly as possible. If you only want to pay trade in value start a dealership.
#18
06-02-2012, 05:15 PM
Dont know about a "black book" value. My father sold cars for 50 years and they always used NADA. But you only get what they show as wholesale value from a dealer. theres also loan value and retail value. Wholesale is what dealers give for trade and sell to other dealers for.
#19
06-02-2012, 06:18 PM
No sir, the Road King Classic (FLHRC) came with the 103" standard, the Road King (FLHR) came with the 96".
#20
06-02-2012, 06:27 PM
So how do you value parts and accessories that are on your bike? I've got a 95 BadBoy with 2000 dollars with of wheels...am I expected to take bluebook ($8365.00)?
Shoot, it's got a 300 dollar tail light...
Shoot, it's got a 300 dollar tail light...