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Old 09-18-2014, 05:12 PM   #1
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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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Old 09-18-2014, 05:48 PM   #2
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Why do you think it should have sold for only $7K?
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Old 09-18-2014, 05:55 PM   #3
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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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Old 09-18-2014, 05:58 PM   #4
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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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Old 09-18-2014, 06:00 PM   #5
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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.
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Old 09-18-2014, 06:01 PM   #6
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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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Old 09-18-2014, 06:08 PM   #7
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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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Old 09-18-2014, 06:25 PM   #8
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On the auction site, the AS documents have checks paid totaling $41,000 for service and parts.
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Old 09-18-2014, 06:29 PM   #9
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Quote:
Originally Posted by terryV View Post
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.
Bingo.
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Old 09-18-2014, 06:51 PM   #10
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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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Old 09-18-2014, 07:15 PM   #11
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Originally Posted by vroomonesown View Post
...snip...

I am trying to figure out how my calculations were so off.
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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Old 09-18-2014, 07:20 PM   #12
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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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Old 09-18-2014, 07:23 PM   #13
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Oh yeah..the axle was never replaced and the floor had substantial rot in multiple places.
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Old 09-18-2014, 07:24 PM   #14
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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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