NADA/KBB prices....

Discussion in 'Thumpers' started by outdoornate65, Nov 11, 2012.

  1. outdoornate65

    outdoornate65 Adventurer

    Joined:
    Nov 18, 2010
    Oddometer:
    66
    Location:
    Front Range, CO
    How much stock do you folks put in the NADA and KBB prices commonly found on the net?

    Are they a good tool for bargaining or a bunch of worthless crap?

    Example: There is a local guy selling a 2004 KLR 650 for $3750. Low miles at 2700. Stock.

    KBB and NADA both put the bike around $2500-2700....
    #1
  2. Kommando

    Kommando Long timer

    Joined:
    Nov 28, 2006
    Oddometer:
    7,403
    Location:
    Spacecoaster FL
    I don't put much stock in it. What's available locally and at what price?

    My bank has a different opinion though. They'll only finance a bike based on book value.
    #2
  3. outdoornate65

    outdoornate65 Adventurer

    Joined:
    Nov 18, 2010
    Oddometer:
    66
    Location:
    Front Range, CO
    Roger that....

    I'm lucky to live in CO.....ground zero for DS bikes. Regardless, I'm new to buying used motorcycles so I'm trying to use any tools I can.

    Thanks....

    Nate
    #3
  4. Gerg

    Gerg Cupcake

    Joined:
    Dec 25, 2001
    Oddometer:
    8,516
    Location:
    Left Coast
    NADA and KBB don't just pull those figures out of their butt. Unless there are expensive farkles there isn't any reason to go over the book price.

    Remember, both books have retail and wholesale and both allow for low mileage and adders of the basic options (Bags, racks, large tank, etc)

    Go see the bike armed with the info ready to buy. Worst case is you burn some time.

    Gerg
    #4
  5. Splendidtutional

    Splendidtutional What does that mean?

    Joined:
    Jun 8, 2012
    Oddometer:
    47
    Location:
    the US Capitol
    They should be a good reference for a complete n00b, which it sounds like you might not be. They are ok to get an idea of what you might be able to expect, but they are all based on sales data provided by DMV's (kinda like real estate data prices) only they are subject to... inaccuracy because people under report what they pay for tax purposes. Also, the data is limited, so KBB and NADA, edmunds etc. have to extrapolate based on what data they do have. They have formulas and stuff, but when a vehicle is outside of normal parameters (like being 8 years old and only having 3000 miles) they get a little off. I am not up on the KLR market and definitely not in CO, but the price seems reasonable, as long as the carbs and fuel systems aren't all gummed up from sitting around.

    Good Luck!
    #5
  6. Grinnin

    Grinnin Forever N00b

    Joined:
    Dec 10, 2005
    Oddometer:
    2,982
    Location:
    Maine
    I can't imagine he'll ever get $3,750. A buyer with patience can find a similar bike for about $2,000 to 2,500 (although probably not with that extremely low mileage).

    But I don't use those sources myself; I watch Craig's List, eBay, and Uncle Henry's (it's a Maine thing) and get an idea of what particular bikes are listed for in my area. (My '01 KLR was listed for $1,300 but with 6 times your example's mileage. It had no "issues".)
    #6
  7. JTucker

    JTucker Long timer

    Joined:
    Sep 27, 2008
    Oddometer:
    2,270
    Location:
    West By God Virginia
    I bought and sold an 02 KLR with 10k miles on it several years ago for $2k. I can't imagine one going for that much. Nothing seems to be selling well right now.
    #7
  8. shakeybone

    shakeybone Been here awhile

    Joined:
    Dec 19, 2010
    Oddometer:
    301
    Location:
    N.H.
    I don't think they are always accurate. The prices they come up with are biased on sales data from dealerships and dealer used car auctions. I don't think they always have enough data for motorcycles, especially older ones to come up with accurate prices.
    For example a few years ago I had a 82 Yamaha 650 Seca for sale. Yamaha only sold this bike in the US for 1 year. Nada said they did not have enough sales data to price it, but KBB came up with something like $700 for top retail. At the time looking around at the few that were for sale around New England I priced it at $1700. Motorcycle Classics magazine even featured my bike in their "under the radar section", which looks at "future classics" and they have an "on the market" section that features a bike that is for sale. I sold the bike for $1200 locally.
    #8
  9. Grreatdog

    Grreatdog Long timer

    Joined:
    Apr 6, 2007
    Oddometer:
    12,772
    Location:
    Annapolis, MD
    I found both NADA and KBB prices to be lower than a decent used KTM actually sells for in this area. I wasn't shopping anything but orange the last two times so those are the only ones I know for sure. KBB was closer than NADA but both were under what people actually get for them. Add a title and/or a license plate to that KTM, or any offroad bike for that matter, and then you are talking premium pricing.

    When it comes to good used thumpers a few hundred dollars one way or another makes all the difference. If you dick around trying to talk the seller of a desirable bike down a few hundred to published pricing you are going to miss all of the nice ones. If you want a good used bike then use the books as a starting point and know what you are actually willing to pay regardless of the published price.

    So not worthless crap - but not the Bible either. In other words: a guide.
    #9