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NADA has caused a NO Sale
We believed we had our coach sold. Prospective buyers had UPS ‘d their coffee pot etc to us for taking our coach home this Thursday’. They even went as far as adding our bus to their insurance.
However, they apparently looked on NADA and found Beaver Bus conversion listed. I have been discussing this issue with a Rep from NADA for three years I was assured with so few transactions of Prevost Beaver busses they were going strike the category this summer Apparently a change of mind whatever, it hadn’t happened. Our buyer saw NADA valued full retail value for our coach at $33,000. They rescinded their offer only after I called them after getting an email from UPS, tracking number for shipment from our prospective coach buyer had requested a redirection of the delivery of their belongings scheduled to arrive to us tomorrow to put in our coach was redirected back to them. I was told their insurance company wouldn’t value Bus #34 for coverage for selling price, but would for NADA value. So back to square one
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4 Replies
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With the relatively few buses sold every year and the fact that almost all of them are custom built to buyers specifications, there is no way in hell to come up with a valuation guide such as Nada, which relies on nationwide sales of thousands of units of CARS from Ford, GM etc.
I would also say, as harsh as this may sound, your potential buyers are not on solid financial grounds to be able to afford buying a Prevost conversion. They surely did not do their homework regarding insurance coverage.
To me, it sounds like it was a poor excuse to get out of the contract.Nada is kind of similar to Zillow, which values real estate. I HATE ZILLOW. Zillow is using mostly tax records to value properties and in doing so, they grossly undervalue most properties. I have had a coupe of real estate transactions go sour on me because the potential buyers did look at Zillow and tried to tell me that my properties were worth a lot less than my asking price.
Sorry to hear about your trouble selling your bus. Better luck next time.
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Tom and I have started an effort to bring some sense and consistency to the entire issue of appraisals and coach valuation. It is far too premature to say we might get somewhere on this problem, but we are approaching agents and hopefully insurers and underwriters as Prevost Community with almost 2200 members.
Our goal is to arrive at a consistent means by which our members can get an appraisal or valuation that is acceptable to all insurers of Prevost conversions. I am very familiar with Jim and Chris’s Prevost, its condition and the quality of its construction by Beaver Coach. The $33,000 NADA average retail value is so far from reality it is a bad joke.
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Sounds like they wanted out of the deal guys, they could of easily gone to Explorer for insurance.
Ronald – You are exactly right about those scumbags at Zillow, I’m fighting that battle as well.
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Both prospective buyers were from word of mouth. Neither seemed to care about the interrior or the mechanics of the bus, just the paint. But the bus is worth more than $36-8K that NAD states, for sure. On the Nada Internet site, they also list 1989, 1990 Liberty Coaches too.
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