Bus conversion values

[Paladin]

Tonight I was having a discussion with one of the other guys on the block while he was taking the little monsters out trick or treating.  We began talking about the behemoth in my driveway trying to hide behind a 6' gate and he asked me if it was like a second home on wheels and what I thought it would be worth when I got done. I kind of just shrugged since I really hadn't put much thought into it.
Now this is a very, very subjective area especially without an appraisal and even then it's all over the place but here is my question.
Given a decent job of doing the work, good craftsmanship and the very best materials I can afford (again, subjective) what ranges would one expect to see on an appraisal or other form of determining value? I'm not asking a resale since we all know that is a totally different thing but an on paper type appraisal for replacement. What do you tell your insurance guy?
I'm in sort of a different situation since Michelle - my other half, is my insurance 'guy' and is an agent for Progressive among others but we're obviously not to a point to have anything worth a full replacement coverage. 


-Dave

[bobofthenorth]

IMHO there's no point insuring it for any more than comparable conversions are selling for at the point you buy the insurance.  Anything more than that is just p'ing money away cuz the insurance company will never pay out.  Less is obviously an option - it just amounts to a higher deductible.  Appraisals for insurance are pretty much a joke anyway cuz it will all come down to a p'ing match if you ever try to claim.  IMHO.

[niles500]

Try researching "Agreed Value" coverage - HTH

[jackhartjr]

BobOfTheNorth...you said it right...if there is a claim it will be a Peeing contest...and you will be the one getting peed on!
The guys and gals that handle claims are the same one back in high school that took the wings of of flies and watched them crawl around the table!
If you want to have some fun...call your insurance company and ask what they would pay you if you total your conversion or car.  I would bet a dollar against a donut hole they will trip over their tongues and not give you a straight answer.
Do I sound bitter...yep...after having an idiot hit me in the rear hard enough to break the seat...then having the pleasure of working with Progressive (Sorry DAX) I learned a lot.  NOt flamming here...whatever flamming means...just giving my opinion.
Bottom line...if you are hit...you probably are going to get hosed!
Jack

[akroyaleagle]

Here's what I did after Progressive wanted to double my premiums because I was honest and stated I lived in the bus for more than 180 days per year.

I went with USAA. They don't have agreed value. I told them what I had in the coach. (A LOT) They never flinched. They asked for photos inside and out to show condition. I  provided them and they told me to keep all receipts in case I ever had a total loss. I am comfortable with that. I have done business with them for nearly 40 years. I have never had a bad dealing with them. I am able to discontinue liability when the coach is not being driven and the insurance for comprehensive drops to just a few dollars. Something like 90.00 for 6 months depending on which State it is stored in. It's about 230.00 for full coverage for 6 months. It's cheaper than any of my cars and pickups. Go figure!

I was quoted a few dollars cheaper by Good Sam, which I believe also to be a good outfit but for the few extra bucks I went with USAA.

[DrivingMissLazy]

Progressive paid my claim with the agreed on coverage even though I had been driving the coach for about 15 years. Great company to do business with in my opinion.

After they determined it was not repairable, they sent me a check. They would not sell me the remains, but Catskinner in Texas bought it, came to WV and after a couple of days work had it ready to drive back to Texas and it was present at the Texas Roundup this summer.
Richard

[FloridaCliff]

Try researching "Agreed Value" coverage - HTH

This is the only way to go in my opinion!

You can increase it as you progress or finish.

You may pay a little more, but everyone understands the deal from day one.

Cliff

[Paladin]

Um, we got a little off the main point. What I was asking is in ball park numbers, what values does one see in a nicely converted coach?
My neighbor was asking sort of in comparison to homes, he wanted to know if it was like having a second home meaning did it have value or is it like owning a 1978 Winnie? Maybe he thought it would be like the Partridge Family bus when I got done??
I really didn't know what to tell him.


jackhartjr: No problemo, I have no vested interest in Progressive and they are only one of the companies we can write coverage through. 

[ChuckMC9]

What I was asking is in ball park numbers, what values does one see in a nicely converted coach?

OK, I'll be some flame-bait before I put on my grubbies to go under the coach this brisk morning...

<$50K unless it is a somewhat recent pro conversion

[on edit - but that number is really irrelevant, if you plan to use the coach. Mine is "worth" less than that on the market, but what really matters is that I most likely wouldn't trade it for a midrange, fairly new S&S. Seriously. So if you look at it that way, it's worth $150K to you. That's what matters.]

[FloridaCliff]

Dax,

Its like saying whats a house worth?

Too many variables to make an educated guess.

You will see many conversions much nicer and higher quality than the so called professional conversions and some that make a S&S look good.  Makes it hard to value and rate except on an individual basis.

Insurance wise-Agreed value is the only sure thing.

Resale-Whatever someone is willing to pay.

Not trying to be contrary, just the way it is. 

Chuck wrote:on edit - but that number is really irrelevant, if you plan to use the coach. Mine is "worth" less than that on the market, but what really matters is that I most likely wouldn't trade it for a midrange, fairly new S&S. Seriously. So if you look at it that way, it's worth $150K to you. That's what matters.]

Chuck, well said!

Cliff

[Paladin]

Yep, I understand all that. It's only worth X amount to you and Y amount to others and on a different given day and depending on the direction of the prevailing wind.
I also understand that the value is really pretty much meaningless except to the insurance co and if you are interested is selling which I'm not.

I was just curious as to ballpark average numbers. Some people say , " oh this is a 250k rig" and I just smirk. I was just curious to ball park real numbers.

I know it's difficult like catching air, the city has my home valued at about 150k more than any of us along my block would even pay for it because it's in a 'desirable area'. B.S....overpriced. We know what the real value is and that was my question here on buses.


-Dave 

[FloridaCliff]

Dave,

Check out this link for an idea of retail resale prices:

http://www.staleycoach.com/MOTORHOMELIST.htm

Cliff

[prevost82]

The link that Cliff supplied is a good start point .... but this is pro conversions list. If you stay close to what the pro's use for systems, hydro-hot, trace inventer/charger, high quaity tanks, pro electical that is documented and it's a Prevost you will come close to those prices.

It all come down to quality of the conversion. Look at Nick's bus and the attention to detail that is put into it, exterior, interior and systems, everything is top shelf, his conversion is very close to a pro coversion and will command a high price. As the quaility decreases from the pro conversion level so does the value.

Ron

[Paladin]

Thanks, I've seen some appraisals that show mid 100k numbers for a non pro job which I don't think is realistic and on some I thought the workmanship and layout was poor as best, it looked more like a treehouse built in a bus to me. Sorry if this offends anyone. I think a good ruler is just looking at resale prices but that doesn't always match the numbers for insurance purposes.
I'm sure I'll fall short in many respects of a pro job but I'll do the best I can.  I just really didn't have an answer for the question put to me. In the end it will really only matter if I decided to sell and by then it'll be a whole different market. Right now I pretty much plan on either selling only to upgrade or likely will leave the beast behind for my family to deal with.  I'll pawn in off on my brother in law since he appreciates the things except he wants a Prevost.


-Dave

[kyle4501]

In my opinion, the value starts out at ~50k for a complete & finished conversion.
Then you have to consider the adders & deducts.
Like has been said, a good design & quality work = +$.
Tasteless design & poor quality = -$
Age usually = -$
shine = +$
etc

When people ask me, I laugh & ask how can you put a dollar value on:
- fun with your family,
- your hobby,
- fun without the family,
- the reason I get up some mornings,
- etc.