So.... what's yer Prevost worth?

[phorner]

Well, the simple answer is.... exactly whatever someone else is willing to pay.

But, here's an interesting aside.

As most of you know, after 10 years of full-timing, Janice and I have decided to buy a house. That means that the bus and lot here at the Outdoor Resorts has to go. To that end, we have made up a small flyer that has been posted here around the resort.

A couple of days ago, one of the guests here stopped by to check out the bus. The first question of course is "so, what's your bus worth"? When I gave him the asking price, his reply was "Wow, that's a million dollars of quality for less than 25 cents on the dollar".

Huh?

He then went on to explain that, at one time, someone had paid a million dollars (or close to it) for the bus based on the quality of materials and workmanship, the ride, the comfort, the features and even the the safety. That essential "quality" hasn't changed, although there has certainly been some use. I thought it was an interesting perspective.

So that got me to thinking. He made an interesting point. Based on that train of thought, it probably pays off to maintain your bus to the same level of materials, workmanship and specifications as original as best as you can. There can be a dramatic difference between "worth" as defined by its quality and "cost" based on market values.

The lesson here, I think, is to not degrade the value of your bus by altering that "quality" that existed on day one if at all possible.

Unfortunately, this guy wasn't a serious buyer, but I sure like the way he thinks!

Now it's time to go back to furniture shopping..... because we have none.

[Jon Wehrenberg]

Excellent perspective.

One thing few people recognize until they are confronted with a little reality is that a 15 year old Prevost that has been properly maintained is a far more substantial and lasting product than any conventional new RV of the same price.

I have a friend who has just purchased a relatively new conventional motor home and in reading the specs it is apparent that his new (to him) motorhome on its best day cannot compare to a good used Prevost of the same cost. I could not get him past his concerns that a bus was too big for him, so he gets a motorhome that is only a few feet shorter than a bus, just as wide and high, but weighs 1/2 of that of a Prevost, has half the capacities, lacks the redundancy most of our coaches have, uses automotive quality drivetrain compoinents, has a generator with 1/3 the typical Prevost capacity, and 1/4 the battery power.

We who own coaches haven't done a good job explaining the value our coaches represent, and we have especially failed in making people aware how inexpensive our coaches can be purchased for compared to convnetional motorhomes. That being said however most of us also fail to recognize to keep up the value of our coaches we do have to maintain them and be able to document that maintenance to the satisfaction of potential buyers.

[merle&louise]

Paul,

To answer your question as to the fair market value of your coach I would look to eBay. There have been several auctions lately on a 2000 Liberty XL Elegant Lady; the first auction ended at $156,000, the second at $173,400, and the third at $180,000. The 4th auction is presently underway at $125,000 with a few days left.

We all know that eBay is just a "low-ball" arena and that coaches RARELY sell on eBay. So I personally do not put much credence in the prices on eBay. What eBay does show IMO is the TREND of prices and from the above auctions it looks as though the price trend is rising. The used market has been depressed for the last few years, but it looks like it may be coming back strong.

I have seen Paul and Janice's Liberty, and it is beautiful and very well kept. Anyone who is interested in buying a nice Liberty should take a look at this one.

[Gary Carmichael]

Amen, on documenting service work, it certainly relieves the potential buyers mind about how the owner cared for his million dollar machine!

[phorner]

Tuga,

I don't know about a rising trend regarding coaches, but there is definitely a rising trend with real estate here in South Florida.

We started looking for houses some six months ago and there were bargains galore. Dozens and dozens of real nice houses in the $100,000 area or less. For $125,000, you were finding homes with a nice enclosed lanai or pool.

Those are gone.

There is one active builder, Minto Homes, left in nearby Tradition. They are a Canadian company that's been in business more than 50 years. All the other builders in Tradition are either gone or out of business.

Minto has had 2 price increases in their new homes in the last six months..... and they are selling them as fast as they can build them.

It would appear that we are at the bottom of the real estate market here, as prices are slowly, but steadily, rising and there does not appear to be a shortage of buyers, at least in this small area.

[Jon Wehrenberg]

Amen, on documenting service work, it certainly relieves the potential buyers mind about how the owner cared for his million dollar machine!

Since we weren't planning on selling our coach my log books for maintenance are not only valuable for proving to a prospective buyer that maintenance has been done in a timely fashion, but for my purposes.

First, I can't remember what I had for lunch yesterday so if I don't write it down I am lost. My log book of maintenance is my reminder of what has been done and when, and also is my reminder of what is due at the next service interval. But it goes beyong that. I log part numbers, both Prevost and manufacturers part numbers. That is a huge help when I need to re-order parts or do research on parts prices. I also log unscheduled repairs or maintenance as well. Because of that I can consider if I should make a part replacement or service part of the preventive maintenance schedule. That is what made me add coolant system hoses to my PM schedule.

The reality is the maintenance schedule is far too long and detailed to try to keep track without a formal way to keep records. Unlike my cars which have an A or B schedule there is no common time or mileage interval for service so without the records and way to schedule the next event such as an air dryer replacement, coolant change, or even power steering filter change I would be lost and service would be hit or miss. After 7 years with this coach I have already filled a small loose leaf book with service records. But I can tell you the date or mileage when anything was done, and when it is due next. I hope Prevost forgives me for saying this, but I cannot believe any of their normal service levels is adaquate because they are either doing some things too often, or they are overlooking things that are usually ignored. If you think I am wrong when I say this how many who have ever had Prevost's service get asked about replacing brake chambers? Their own book says annually or every 100,000 miles, whichever comes first. (I do them at 5 year intervals) So my point here is everyone needs some form of service record, and a means by which future service can be predicted.

My guess is any technician has less interest in your coach than you do, so it falls to the owner to insure all service is performed in a timely manner. I get a huge laugh at ads for buses for sale that say serviced by Prevost or some converter. Without detailed records that could mean someone at a service center changed the oil.

[merle&louise]

Tuga,

I don't know about a rising trend regarding coaches, but there is definitely a rising trend with real estate here in South Florida.

We started looking for houses some six months ago and there were bargains galore. Dozens and dozens of real nice houses in the $100,000 area or less. For $125,000, you were finding homes with a nice enclosed lanai or pool.

Those are gone.

There is one active builder, Minto Homes, left in nearby Tradition. They are a Canadian company that's been in business more than 50 years. All the other builders in Tradition are either gone or out of business.

Minto has had 2 price increases in their new homes in the last six months..... and they are selling them as fast as they can build them.

It would appear that we are at the bottom of the real estate market here, as prices are slowly, but steadily, rising and there does not appear to be a shortage of buyers, at least in this small area.

Paul,

Glad to hear that the real estate market in S. Florida is getting stronger. That should spill over into the RV resort market and eventually into the RV market. There is nothing like increasing prices to get folks off of the dime!

[BoaterAl]

With the advice of this forum our Marathon has a 3 ring loose leaf note pad in the desk drawer on the bus. Every thing that is done to the bus logged by date. Detailed notes on what was done. Every item replaced, repaired, adjusted, reconditioned logged in.
Talk is cheap, that log book will show any buyer how we took care of our bus.

[Gary Carmichael]

Jon, When I was Russell Coach getting shocks put on we tried to get a air dryer replacement none in any Prevost facility they were out company wide. I believe there is an after market replacement but was afraid to try it!

[garyde]

Value means different things to different people. For those who know little about RV's or Prevosts. $100,000.00 sounds like a lot of money for a Coach. For your typical RV owner , a Prevost
is the ultimate with a similar price tag. Few people understand the depreciation on these Coaches. Fewer can tell a 1998 XL from a 2006 XLll.
Not many know what an H3-45 is or its value.
Fortunately, most Prevost buyers educate themselves before buying so they learn to appreciate the value of a Prevost.
To be sure, there is a boat load of value in these coaches which people don't realise.