BCP Boys
Well Known Member
So I thought I would put this out because it would be fun to hear other's perspective. Before you completely thrash my post please keep in mind I'm only an observer and don't benefit in any way, so here it goes.
A few of my friends who know I've owned a few RVs, amongst several other airplanes, and also know that I'm always "looking at the market" called me for advice on selling / buying an RV. I'm sure many of you watch the market as I do, and have your own thoughts but I thought I would share my experience.
It started right after this year's Oshkosh... at least 5 friends who are either looking to buy an RV or are looking to sell their RV, have called me to ask for my advice on RV pricing (I'm humbled they think so highly of me). Obviously I've tried to help connect some of them that want to buy with those that want to sell but none of the deals worked out. Here is where I noticed that there seems to be a disconnect in the market that didn't exist before Covid times. Prior to Covid and before the supply chain issues that came along with Covid, the RV pricing was pretty straight forward. It was pretty easy to look at build quality, paint, engine size, engine time, prop, avionics and pretty much come up with a fair price that the seller would be happy with, and the buyer would also be happy paying. Then the craziness of 2021/22 happened and prices went through the roof, for everything. But supply chain started to get better and continues to ease off (although not "normal") and some prices for many but not all things started to go back down. Well, here we are late 2023 and it seems like the buyers and sellers couldn't be further apart. I've seen asking prices that are 2X higher than what they were before covid and even 50% higher than what they were last year, but here is the kicker... they aren't selling so the inventory is starting to build up. Then on the opposite side, I see and have heard from friends that are buyers, who believe that prices must go back to pre-covid (which I don't agree with) and are looking for the "deals", which aren't out there.
This isn't rocket science so we don't even need Paul Dye's wisdom (just trying to be funny, Mr. Dye you are welcome to provide your wisdom). But if we can just get the sellers to be a bit logical in the asking price and stop asking $200K+ for an RV that was selling for $90K -$110K pre-Covid and buyers that would step up and maybe pay $120-150K for the same RV that sold for $90K to $110K pre-covid, then maybe we would see some of these folks on both sides be happier. If you look at the market, it's obvious that RVs that are selling quickly are priced fairly for today's market. Keep in mind that last year when RVs were selling at their highest premium, was mainly because money was cheap. A buyer could borrow money for almost nothing and pay it over a long period of time. I'm sure we know that's not the case anymore. I have no dog in this fight, but I would love to see some of these planes that have been for sell for 1 to 6 months, go to new owners so they can be excited about their new RV and add some new RV Grins around the country.
This is just a post to get the folks that are looking to sell and the ones looking to buy, to just think about being on the opposite side and put themselves in their shoes. I'm not sure if this will have any positive outcome whatsoever, but if I can just get one buyer and seller to come to terms, then this post was worth writing.
Happy selling & buying
God Bless
Amir
A few of my friends who know I've owned a few RVs, amongst several other airplanes, and also know that I'm always "looking at the market" called me for advice on selling / buying an RV. I'm sure many of you watch the market as I do, and have your own thoughts but I thought I would share my experience.
It started right after this year's Oshkosh... at least 5 friends who are either looking to buy an RV or are looking to sell their RV, have called me to ask for my advice on RV pricing (I'm humbled they think so highly of me). Obviously I've tried to help connect some of them that want to buy with those that want to sell but none of the deals worked out. Here is where I noticed that there seems to be a disconnect in the market that didn't exist before Covid times. Prior to Covid and before the supply chain issues that came along with Covid, the RV pricing was pretty straight forward. It was pretty easy to look at build quality, paint, engine size, engine time, prop, avionics and pretty much come up with a fair price that the seller would be happy with, and the buyer would also be happy paying. Then the craziness of 2021/22 happened and prices went through the roof, for everything. But supply chain started to get better and continues to ease off (although not "normal") and some prices for many but not all things started to go back down. Well, here we are late 2023 and it seems like the buyers and sellers couldn't be further apart. I've seen asking prices that are 2X higher than what they were before covid and even 50% higher than what they were last year, but here is the kicker... they aren't selling so the inventory is starting to build up. Then on the opposite side, I see and have heard from friends that are buyers, who believe that prices must go back to pre-covid (which I don't agree with) and are looking for the "deals", which aren't out there.
This isn't rocket science so we don't even need Paul Dye's wisdom (just trying to be funny, Mr. Dye you are welcome to provide your wisdom). But if we can just get the sellers to be a bit logical in the asking price and stop asking $200K+ for an RV that was selling for $90K -$110K pre-Covid and buyers that would step up and maybe pay $120-150K for the same RV that sold for $90K to $110K pre-covid, then maybe we would see some of these folks on both sides be happier. If you look at the market, it's obvious that RVs that are selling quickly are priced fairly for today's market. Keep in mind that last year when RVs were selling at their highest premium, was mainly because money was cheap. A buyer could borrow money for almost nothing and pay it over a long period of time. I'm sure we know that's not the case anymore. I have no dog in this fight, but I would love to see some of these planes that have been for sell for 1 to 6 months, go to new owners so they can be excited about their new RV and add some new RV Grins around the country.
This is just a post to get the folks that are looking to sell and the ones looking to buy, to just think about being on the opposite side and put themselves in their shoes. I'm not sure if this will have any positive outcome whatsoever, but if I can just get one buyer and seller to come to terms, then this post was worth writing.
Happy selling & buying
God Bless
Amir