NADA Book values - WTF, they are insanely high.

[The Buddha]

I keep hearing once in a while of some genius who decides to pull the "NADA Book value" joke ... evidently the Maxim X being a 86 is worth somehting like 350 bucks. Whooo hooo ... dude thought it might be a bright idea to buy a bike listed for 1700 for 350. Woweee ... wouldn't it be nice if the world worked that way.
I told him its waaaay waaaay too high ... Book values are very high man, just like for cars is what I told him.
Its true. Book is high as much as 200% high.
Book assumes 5K miles per year and average condition with those miles. So for a 86 maxim that will be a 100,000 miles and the related wear and appearance. I had a GS last year with 48K. Book value on it was 800 or something. It was fully functional, but had the usual wear. So with 5K per year at 16 years its 80K miles and booya ... its 800 bucks.
Totally over priced if you ask me. Cos with 48K I sold for 500 or some like that. heck it had a billet case cover, crash bars, pipe and fork brace. Insane. LIke 3-400 worth right there. And steel braided lines and custom cables for choke and throttle and what not.
So the next time some genius says that ... remember this and set the joker straight. problem is, they do know it quite well, just trying to pull a fast one.
Then there are bikes that have special significance or special market value. Honda hawks, 1127 GSXR's, Super magnas, Eliminators and more.
Cool.
Srinath.

[Altephor]

Shouldn't it have been worth more than 800?  Not really seeing what you're saying here.  If NADA considers it average condition with 5k miles per year, and what you had had less than 5k miles per year and was in GREAT condition, it should be able to get more than the NADA value.

[The Buddha]

No ... book is high. I couldn't have sold it for more, OK maybe a bit like $50 more ... but I am not going to unload something on some poor clown without telling him all its " flaws and features".
48K is plenty to say that the motor is on its last legs, which is exactly what I told him. Using a quart in 300 or less is plenty of reason to say its as good as done.
In my mind, that leaves it at the 500-600 mark as fair value with all the extras I had. However something that has less than 1/10 the book's assumed mileage I'd say the book is worthless at that point. Market value is what counts. AKA, how much can you use it before it becomes worthless. Like my 48K er'. You can ofcourse rebuild it ... you put in the work and do parts and minimal work at a shop and you can build yourself back to new or better motor again ... but work and parts are all $$$ ... spent 500 worth and guess what ... you have a 1000 in it now, not the 500 you paid in the begining. Whatever. Book value assumes that mileage. If yours has significantly less, its worth significantly more. Just cos the new owner doesn't have to rebuild it ... that's a straight $500 minimum if the owner does the work, if not, its a lot more.
OH yea ... I'll say that to the book value moron's now ...
They wanna buy a MaxX (BTW its a rare and cult bike to start with) I'll tell them I have one with 100K miles I'll sell for $350 and we'll see how fast they hang up.
Cool.
Srinath.

[LimaXray]

I don't know, I'm finding bikes go closer to their full retail value, even when it's a private party sale.  

My friend has been looking for a bike for a while now and he keeps finding bikes listed asking for the book value.  So he goes to look at it with the thought of talking the guy down, but most of the time the guy already sold it for at least book value by the time he gets there.  It's just nuts, someone will list a bike online or in the paper, and it will be sold within a couple days, so unless he decides to pay full book value he's not going to have a bike anytime soon.  

I'm sure price is area dependant, but around here people seem to pay top dollar for used bikes

[The Buddha]

If you're talking 1-2-3 year olds, you're right. Older than 5 its starts to open up a decent gap. Hit the 10 year mark and with the assumptions in the book for mileage (10 years at 5K a year) is serious miles. So newish bikes book works OK. Older - book starts to seriously drop off.
BTW I dunno how - but the insurance guy seemed to indicate if I hit the ~1500 mark with my damage estimate he's prolly gonna total it. Good thing too, I barely broke 500 ...      ... The dayumm clutch lever was $36 and the freaking wire thing under the thing was like $65. Quickly added up. Ofcourse I hotwired the clutch and swapped in a bento lever I had and promptly put it back on the road ...  ... 
Obviously they dont go by the book really ... they have some sorta market value system I think. Oh yea clowns talking about book value could also be lying ...
Cool.
Srinath.

[Unnamed]

For my 1996 they said $1350 in good condition, but theres no way you can get a bike for near that around Chicago. I'd be surprised if I couldn't get $1500 if I sold it now.

[The Buddha]

If it had 50,000 miles ... what would you hope to get for it ... and remember it should have body wear as well corresponding to 50K ... cos that's what NADA says the miles per year are ...
Cool.
Srinath.

[Unnamed]

True, but not that many bikes would still be running after 50k. Seems like they just need to decrease their estimates for yearly mileage for bikes.

[The Buddha]

Yes ... exactly ... but with 50K your bike is worth 1350 ... as the numbers stand ... that's what it is ... which is why I looooove clowns that call me and say "Dude ... your bike in the book is worth 350 ... you asking 1700" I think I'll tell them ... yea I have another one like that ... and its got like 120,000 miles and I am selling it for book value ... BTW its an 86 bike ...
NADA should in reality reduce their mileage numbers and increase their estimates of values. They also should not assume linear mileage accumulation. First 1-2 years 5K per yr, next 5 years 2K per yr, next 5 years 1K ... But hey that would make sense ... and that sorta thing doesn't have a place in this world.
Cool.
Srinath.

[dchrist]

just for a point of reference from the north east, boston and southern NH. I bought an 01 gs500 with 12k miles for $2k, blue booked at 1850, NADA was 1600. The kid probably could have gotten 2500, thats about what they were going for on craigslist postings (2200-3200 depending on condition). craigslist was the only place I could find a decent volume of private sale listings.

of course 150 miles later the bike crapped out on me so.... maybe I got burned but we'll see how it runs once I get the carbs back together and the tank treatment done and the fuel filter in. I'm not messing around with the petcock or fuel lines (they were clear) just adding spring clamps to the vacume line to shore it up. not that anyone cares about that stuff in a price posting.

I guess now that august is near the prices will start to drop. they are bound to be high at the peak of the season. anyway for what its worth thats what they were going for in northeastern mass and southern NH at the end of july compared to the nada and blue book values.

d

[The Buddha]

Aaaah the crap out ... Love that ...  ...
I basically buy crapped out ... cos I used to buy decent crap ... till they crapped out the next week ...
My nighthawk - the first one ... excellent case in point. cam chain tensioner ... freaking $2 spring and 4 hours labor ... I had my friend do the work, and I watched and learned ... ever since ... I make it a point to buy total sheite ...
Cool.
Srinath.

[dchrist]

thats the way to go if you can fix it up yourself why not do it! this is my first time getting into an engine and its fun as hell 

your nighthawk scenario is exactly what happened to me. except it didn't take a week. I thought I'd bought at least a decent machine but the next day..... no go. I can't wait to get it back together to see if it'll run.

[dchrist]

as for book values, what I saw was that the market fluxed and the books don't expecially for bikes its different than blue booking a car beacause there are so many more mods and work someone can do to a bike that will inflate the value way above what the book says. at least thats what i saw here. market value was way over book value.

[Dawn Light]

in israel the prices for vehicles is crazy due to taxation. a 90 gs500e like mine is 7,000NIS in the books; 7000/4.45=1573$ and people pay. a new gs500e 49,386/4.45=11,098$ cash and people pay. a new GS500F 12,149$ cash and people pay. a new gsxr1000 128,749/4.45=38,932$ cash and guess what... people pay