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09-18-2014, 04:12 PM
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#1
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New Member
wallingford
, Pennsylvania
Join Date: Sep 2014
Posts: 2
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completely overpriced?
Today I went to an auction for a 1964 Globetrotter. It was completely renovated but did have a bit of water staining and some peeling interior paint. It WAS not restored with original appliances. Based on the price and condition guide, I thought it would go for around $7k.
Vehicle Auction - Alderfer Auction
It ended at $17k.
I am trying to figure out how my calculations were so off.
Input?
Thanks,
Lisa
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09-18-2014, 04:48 PM
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#2
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Retired.
Currently Looking...
.
, At Large
Join Date: Jun 2003
Posts: 21,276
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Why do you think it should have sold for only $7K?
__________________
Meddle not in the affairs of dragons, for you are crunchy, and taste good with ketchup.
Terry
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09-18-2014, 04:55 PM
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#3
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Site Team
1963 26' Overlander
Hollis
, New Hampshire
Join Date: Oct 2009
Posts: 2,647
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That would have gone for $25,000 easy around here. Cute, small , door within the door. Heck, it would have gone for 4-5 grand unrestored!
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09-18-2014, 04:58 PM
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#4
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Rivet Master
1973 27' Overlander
Portsmouth
, Virginia
Join Date: Jun 2012
Posts: 776
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It was a smaller trailer, new or newer appliances. Looked pretty clean on the inside and outside. Around me, 7g will get you a trailer that mostly hasnt been touched with 40-50 year old appliances and generally something 27' or larger. So I wouldnt have figured 7 even on a bad day.
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09-18-2014, 05:00 PM
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#5
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Moderator
1968 17' Caravel
Battle Ground
, Washington
Join Date: Dec 2002
Posts: 12,253
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From what I saw of the pictures, that looks like a really nice trailer. Sounds like it went for a fair price if the pictures really reflect the condition in person.
__________________
Stephanie
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09-18-2014, 05:01 PM
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#6
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Rivet Master
2002 31' Classic
Currently Looking...
Monroe
, Iowa
Join Date: Jun 2014
Posts: 649
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When Joyce and I were first married, back in the late '60s, we needed furniture.
But, like a lot of kids starting out, we didn't have much money. So, we thought we would go to estate auctions and buy some stuff cheap.
My dad, wise old man that he was, suggested taking along a Sears catalogue and checking what an item we were interested in cost new. My dad's advice was never pay more than half of the new price, no matter how good the item looked.
Time after time we saw things go for much more than the new price at auctions.
Not that you can't get good deals at auctions, but quite often people will get bidding and not know when enough is enough.
It all depends on just how badly someone wants something.
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09-18-2014, 05:08 PM
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#7
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Rivet Master
1986 34' Limited
1975 27' Overlander
1969 21' Globetrotter
Conifer
, Colorado
Join Date: Jun 2009
Posts: 8,278
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I think the value of renovated vintage Airstreams is difficult to predict. There are lots of factors involved. $17K does not surprise. 25K is possible in the right area. We have seen beautiful ones for over $50k.
I think the value is in the structure more than the decorations. Good axles, good frame, good subfloor, good shell, good windows, good electrical, good plumbing and functional appliances are most important to me. That is where the big dollars are.
The most valuable ones are museum pieces that look like they just came out of the factory way back when. They are for show more than traveling.
David
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09-18-2014, 05:25 PM
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#8
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Rivet Master
Livingston
, Texas
Join Date: Sep 2010
Posts: 586
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On the auction site, the AS documents have checks paid totaling $41,000 for service and parts.
__________________
Sphere Guy
AIR 50601
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09-18-2014, 05:29 PM
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#9
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Builder of Diesel Jeeps
2014 28' International
Sedona
, Arizona
Join Date: Sep 2014
Posts: 226
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Quote:
Originally Posted by terryV
When Joyce and I were first married, back in the late '60s, we needed furniture.
But, like a lot of kids starting out, we didn't have much money. So, we thought we would go to estate auctions and buy some stuff cheap.
My dad, wise old man that he was, suggested taking along a Sears catalogue and checking what an item we were interested in cost new. My dad's advice was never pay more than half of the new price, no matter how good the item looked.
Time after time we saw things go for much more than the new price at auctions.
Not that you can't get good deals at auctions, but quite often people will get bidding and not know when enough is enough.
It all depends on just how badly someone wants something.
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Bingo.
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09-18-2014, 05:51 PM
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#10
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4 Rivet Member
1972 31' Sovereign
Fort Bragg
, North Carolina
Join Date: Jun 2011
Posts: 278
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Some folks just want it because they have the reason for it. A memory or even a parting moment that something was let go of and this is the time to regain that moment in time.
I've figured it is not about the money but the emotion and money cannot compete when it comes to emotions.
My thoughts.
Best Regards,
SL4BLLT
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09-18-2014, 06:15 PM
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#11
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Rivet Master
2012 27' Flying Cloud
W
, New England
Join Date: Oct 2012
Posts: 7,402
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Quote:
Originally Posted by vroomonesown
...snip...
I am trying to figure out how my calculations were so off.
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My $0.02 - your calculations weren't far off at all for your view. The $17K wasn't far off for the buyer's view - in fact, they may have been willing to go to $20K so for them, the deal was extra sweet!
A "thing" is worth whatever someone is willing to pay for it. When selling a "thing", the seller will naturally look for a buyer who esteems the "thing" highest among all potential buyers. That wasn't you today. Good news is - you didn't lose! If you paid that price, you'd regret it daily because you don't value it at that level.
Oh - and I could be wrong on this :-)
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09-18-2014, 06:20 PM
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#12
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3 Rivet Member
2005 25' Classic
1986 32' Excella
1965 22' Safari
2006 22' Interstate
Newark
, Delaware
Join Date: Jul 2013
Posts: 145
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I was at the same auction and I am with Lisa. Based on the pictures I was there with $15000 in my pocket. When I saw the trailer for real I knew I wouldn't pay more that $5k. The "renovation" was botched. It was a project trailer at best. Needless to say I was pretty disappointed that I didn't find the trailer that I thought I was going to see. An interesting fact, the buyer was from Tennessee and was not present at the auction. He was basing his bidding on the pictures. In this case, the pictures were worth far less than a thousand words.
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09-18-2014, 06:23 PM
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#13
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3 Rivet Member
2005 25' Classic
1986 32' Excella
1965 22' Safari
2006 22' Interstate
Newark
, Delaware
Join Date: Jul 2013
Posts: 145
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Oh yeah..the axle was never replaced and the floor had substantial rot in multiple places.
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09-18-2014, 06:24 PM
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#14
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4 Rivet Member
1967 26' Overlander
Bugtussle
, Oklahoma
Join Date: May 2014
Posts: 400
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Not completely overpriced but not a bargain either. Even though the auction info says the trailer restoration was completed 10 years ago, I think the buyers got their money's worth. Much less than a new AS and would you even want a new SOB for 17k?
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1967 Overlander International 26ft
2006 Porsche Cayenne Turbo S 520hp 530ft-lbs torque 7700lb towing capacity
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09-18-2014, 07:00 PM
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#15
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Moderator
1968 17' Caravel
Battle Ground
, Washington
Join Date: Dec 2002
Posts: 12,253
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Quote:
Originally Posted by Chatooga11
I was at the same auction and I am with Lisa. Based on the pictures I was there with $15000 in my pocket. When I saw the trailer for real I knew I wouldn't pay more that $5k. The "renovation" was botched. It was a project trailer at best. Needless to say I was pretty disappointed that I didn't find the trailer that I thought I was going to see. An interesting fact, the buyer was from Tennessee and was not present at the auction. He was basing his bidding on the pictures. In this case, the pictures were worth far less than a thousand words.
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That is always the risk when you buy something sight unseen over the internet based only on pictures. I personally would NEVER do that. But to each his own. I hope the new owners enjoy it, battle through the rough spots, and end up with a trailer they can enjoy for many years to come. Ultimately how much it cost is really up to the TWO people who bid it up that high - so there's another guy out there who wanted it almost as bad.
__________________
Stephanie
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09-19-2014, 04:43 AM
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#16
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New Member
wallingford
, Pennsylvania
Join Date: Sep 2014
Posts: 2
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Chatooga11, So glad for your validation here. I just wasn't at all wowed when I saw it in person. Interestingly, while I thought I might flip it for around $7k, my price to buy was $5200. Given that I'm an amateur at this and it sounds like you know what you're doing, I feel better about my decision not to even enter into the bidding. Thank you!
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09-19-2014, 10:35 AM
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#17
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Rivet Master
1973 21' Globetrotter
Houston
, Texas
Join Date: Sep 2009
Posts: 3,314
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I've seen the same thing happen on ebay. The bidding gains momentum, and people lose their sense. Apparently, they think since someone else is willing to bid x, then x+1 isn't unreasonable. Don't expect to find any bargains on any site/event where you have a national/global audience, and you have to compete/bid for it.
Now, for calibration purposes, I would think that $5k is going to get you little more than a "field find" when it comes to the small trailers. The flippers will pick those trailers up locally, clean them up and do some superficial "renovation," and ask (and receive) $10k+ for them. If you want a "camping ready" trailer that has already had the 40 yrs worth of major issues repaired, be prepared to pay for it ($12-20k is not unreasonable). I bought my '73 GT for less than $3k, but that was 3 yrs ago, and I am just now ready to start refurnishing it after a shell-off. I quit keeping track of what I spent on it after the first year.
good luck!
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09-19-2014, 11:19 AM
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#18
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Rivet Master
1964 26' Overlander
Richmond
, Virginia
Join Date: Feb 2011
Posts: 790
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Quote:
Originally Posted by dbj216
I think the value of renovated vintage Airstreams is difficult to predict. There are lots of factors involved. $17K does not surprise. 25K is possible in the right area. We have seen beautiful ones for over $50k.
I think the value is in the structure more than the decorations. Good axles, good frame, good subfloor, good shell, good windows, good electrical, good plumbing and functional appliances are most important to me. That is where the big dollars are.
The most valuable ones are museum pieces that look like they just came out of the factory way back when. They are for show more than traveling.
David
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I'm keeping mine almost completely original (that you can see) Other than the color of the vinyl, it has the original everything - including the full radio antenna. The only modifications you'll be able to tell are the new catalytic heaters, and a low profile heat pump. Other than that, all the updates are completely hidden. It was a real trial to get the plumbing and hookups back to original spec while still adding gray tanks. I'm even cutting down the tiles to 9". Still not a museum piece, and we plan to use it. I need to go to a rally and get some input on how much to insure it though. I just wish I had done all this work on a Bambi instead of an Overlander - 10 feet less polishing, and twice the value - go figure!
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09-19-2014, 12:45 PM
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#19
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Rivet Master
Currently Looking...
St. Catharines
, South Western Ontario
Join Date: Aug 2002
Posts: 2,367
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We looked at one up here about 12 years ago and it was not nearly as nice. Price was $6,500.
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Airstreams..... The best towing trailers on the planet!
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03-25-2015, 10:34 PM
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#20
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2 Rivet Member
1970 27' Overlander
1970 21' Globetrotter
Hamilton
, Montana
Join Date: Mar 2014
Posts: 67
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Auction fever. The auctions estimate was closer to real value.
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