What's a Real Value for a Used Airstream?

[mistermcfrug]

I will warn readers that the NADA valuations are not theoretical numbers that mean nothing. Actually, they mean quite a lot and, in my opinion, mean that many Airstream owners are operating their rigs only partially insured.

Take my 2006 Safari SE. A tree fell on the unit in the spring of 2010 and did an estimated $15,000 damage. My insurance company, USAA said the trailer was borderline totaled. Prior to the incident, I estimated that my trailer was worth easily $32,000, based on ads and comments from others. However, USAA said that, if "totaled", they would pay me about $22,000, less deductible. They said that after the accident that the trailer had a salvage value of only $6-8,ooo. So the point here is that if you have a trailer anything like mine, you're probably self insuring about $10,000 of value.

I found out later that you can buy full replacement cost coverage on trailers but that option ends after five years.

So don't get in an accident and don't think those NADA valuations don't mean anything. It's not like USAA is some horrible insurance company. I think that they are about as good as they come.

[Skater]

Originally Posted by mistermcfrug

I will warn readers that the NADA valuations are not theoretical numbers that mean nothing. Actually, they mean quite a lot and, in my opinion, mean that many Airstream owners are operating their rigs only partially insured.

Yep, and this also comes up if you need a loan for buying it through your bank. However my bank (credit union actually) said that the book value on mine was higher than what the NADA website said for it - I have no idea what the discrepancy was.

Unfortunately, I doubt there's much we can do about either issue...as you said, replacement cost insurance is available, but many, many Airstreams on the road are ineligible for it.

[rodsterinfl]

When I purchased mine in Feb. they used loan value so the actual worth is calculated by the book value to some degree. Years ago I remember shopping for used Mercedes diesels and it was the same way - Nada retail said one thing, the dealers were way above it in ALL cases but come loan time, the book loan value was valid. It would seem that it is more a guide for banks.

[Jinkers]

When it comes to buying and selling most anything, the price is determined by what the seller is willing to take and the buyer is willing to pay. This is particularly true with anything that has passed a normal life span and is considered an "antique" or "classic".

I purchased a 68 Globe Trotter last week and I determined what I was willing to pay by starting with my budget and spending hours looking at classifieds - what was out there, what were people asking, what condition where they in, etc.

When it came to insurance I insured it for fix/replace up to XX dollars (what I paid for it). This was the hardest part since most ins. agencies wanted to use NADA and some wouldn't insure it at all.

-Scott

[Silverflames]

I just saw a 1973 29 ft amb listed on Craig's list for $30,000, not even restored..

[Dan and Liz]

The fair market value is whatever a willing buyer and willing seller who are presumably reasonably knowledgable can agree on, with neither being under duress or obligation. So it depends on the trailer, its condition and location and how much you know. NADA is out to lunch on these trailers and their value could even be way high on a piece of junk.

We had a knowledgable appraiser value the Casita.

[bganso]

From N.A.D.A.'s website:

"...the National Automobile Dealers Association represents the interests of new car and truck dealers to the public, the media, Congress and vehicle manufacturers."

NADA is looking out for the interests of their members, not the public. When has a car dealer ever given you fair market value for your trade-in?

[TheLu]

Hi, I can't explain it but I noticed the difference. I don't know how to set my price. Any suggestions? 2014 19 Bambi Flying Cloud, solar panel. Excellent condition.

[John&Vicki]

Originally Posted by bhunt

Still, folks, as much as I appreciate your collective responses, which I really do, nobody has indicated any way to price a used Airstream! It just can't be whatever the owner thinks it's worth, and apparently it can't be NADA values either. Does anybody have a reasonable formula or way to calculate used Airstream values?

Please forgive me if it sounds otherwise, but I'm not trying to be a wise a$$. A trailer is worth exactly what a buyer is willing to pay for it. And that contains a number of variables: desirability of the year and model; condition of the trailer; motivation of the seller; motivation of the buyer; general market mood; seasonality; geography; sales skills of the seller; and probably more that don't immediately come to mind.

Every transaction is unique. Successful flippers of cars and trailers understand this - that's how they make their living. For example, using just one factor, geography, it's possible to essentially arbitrage the difference in pricing from one region of the country to another by buying low in, say, Minnesota, and selling high in California.

Presentation, in ads and in person, is huge - the buyer is buying more than a trailer - they're buying the dream of the freedom of the open road.

So many variables... My sense is that the difference in how they are handled adds up to many thousands of dollars. There really is no one "true" number.

Cheers,
John

[mistermcfrug]

Here my story: I bought a new Airstream from the factory in February, 2006, a 2006 model, Safari 25' Special Edition, listing for about $55,000. I paid a little over $44,000, a very good price at that time. I sold that same trailer a year ago this month for $36,000. It had had two USAA insurance claims, one for about $14,000 and one for about $12,000. These were legitimate claims, but USAA paid for things like a whole new roof due to cosmetic hail damage, while no functionality was affected. I only spent perhaps $4,000 on repairs. The guy who bought the trailer from me couldn't have cared less about some minor hail damage.

I advertised on the forum here and on craigslist. I only wish everything I ever sold on craigslist would get people from all over the country clamoring to buy what I was selling like that Airstream. I could have easily sold 10 just like the one I had. My advice: advertise a high price! So I actually made a substantial profit on my trailer after having used it for 9 years. But, one reason I sold it, was a calculation that if it was involved in serious car crash, USAA would probably have given me around $5,000 for it. Insurance companies use NADA data for wrecked trailers, NOT real world transactions.

So, even though I'm no longer a trailer owner, my free advice to Airstream owners is this: don't think you will get a fair price from your insurance company in the event your trailer is totaled. I'd say you'd be lucky to get even 1/3 of the value. You are basically self insuring without even knowing it. On the other hand, if the insurance company doesn't "total" it, they will pay a huge amount to repair it. In my experience for a newer trailer, the damage needs to be not much more than about $15,000. I now remember on that first big claim I had that they said it was on the edge of being totaled but they wouldn't total it because I didn't want them to, was a good customer, blah, blah, blah.

Good trailering! I just got sent a link to this thread because I had signed up for it long ago. No more postings from me now that I "ain't got no trailer no more".

[Tincampers]

I just ran my 2014 FC through the NADA site and it came back very close to my purchase price on average retail.