Are prices due to crash?

[reserves]

Let me make sure I’ve got this right.

We purchased our first Cali for £41,000 in 2014

We sold it in 2020 for £39,500

Let’s say £40k from 2014 was only worth £30k 2020 due to inhalation.

Did I not do ok then?

What I don’t understand is that my £40k would’ve been only worth £30k in 2020 if I bought a Cali or hid the cash under the pillow?

 

[pjm-84]

Less buying power

 

[JGov]

I'm looking to sell also and finding it very difficult to set a correct price. Our van is a Coast T6.1, manual transmission, 40350 km's, impeccable condition. Bought it for 49.900 euro's in 2020.
If I look around online there are some comparable vehicles with asking prices ranging from 57000 to 67000. My question is: are these vans also buying bought at these prices?

Am I an absolute nitwit putting a price of 50000 on this van?
Got a quote from a big secondhand camper company for 44000, no further questions asked.

At a loss here. I'm in no hurry to sell.

 

[reserves]

I'm looking to sell also and finding it very difficult to set a correct price. Our van is a Coast T6.1, manual transmission, 40350 km's, impeccable condition. Bought it for 49.900 euro's in 2020.
If I look around online there are some comparable vehicles with asking prices ranging from 57000 to 67000. My question is: are these vans also buying bought at these prices?

Am I an absolute nitwit putting a price of 50000 on this van?
Got a quote from a big secondhand camper company for 44000, no further questions asked.

At a loss here. I'm in no hurry to sell.

Difficult to know for me as I’ve only been tracking UK prices. Plus we never had T6.1 Manuals, only DSG.

Seems that here Coasts get listed for at least 10% lower than Oceans if that helps at all!

In the UK a Coast would probably be listed for £50k.

The only way to really know is to list it and see and reduce accordingly

 

[pjm-84]

The UK is a different market.

Years ago I sold a motorbike to a Dutch buyer. He told me that in comparison to Holland, us Brits were crazy due to a massive discrepancy between pricing on new and s/h vehicles. i.e the new bike in Holland is cheaper / but the value of the second hand bike is much more.....hence he visited the UK on regular basis to buy stock

 

[JuanVecino2023]

Let me make sure I’ve got this right.

We purchased our first Cali for £41,000 in 2014

We sold it in 2020 for £39,500

Let’s say £40k from 2014 was only worth £30k 2020 due to inhalation.

Did I not do ok then?

What I don’t understand is that my £40k would’ve been only worth £30k in 2020 if I bought a Cali or hid the cash under the pillow?

Your cash under the pillow would have received compound interest at the risk free rate. Had you stuck it in a deposit account instead of your mattress.

You’ve got a double whammy comparing that with spending it on a vehicle. Not only is the cash devaluing due to inflation and therefore reduced purchasing power, but you’ve added depreciation into the mix.

Or compound interest at the stock market return say average 10-12% pa.

There’s an old ‘rule of seven’ - money invested at 7% doubles in value (absolute terms not PPI), over 7 years.

 

[Mansfieldman750]

There’s an old ‘rule of seven’ - money invested at 7% doubles in value (absolute terms not PPI), over 7 years.

If only it were so. The rule is Rule of 72. Divide 72 by the interest rate to give you the number of years to double your money.
So 7% would take just over 10 years.

 

[larrylamb]

@Amarillo would have this in the bag.

 

[Mansfieldman750]

@Amarillo would have this in the bag.

Yes, where is Amarillo. I miss him.

 

[JuanVecino2023]

If only it were so. The rule is Rule of 72. Divide 72 by the interest rate to give you the number of years to double your money.
So 7% would take just over 10 years.

Sorry, you are absolutely right. It’s 10% over 7 years. Average market return. I got carried away with my sevens!

 

[ajdowson]

Cali T6 just for sale on AT - 2016 76,000 204ps manual. Dropped from 39,750 to 37,750 then 35,750. I was thinking about it even though manual but looks like it's sold. Interesting to see if picked up by a dealer to resell.

PS T5 owners keep listing under T6 Ocean at optimistic prices clogging up the list of real T6s.

 

[reserves]

Update on my approx valuations, which is based on my own research and gut feeling.

Feel free to ignore

Initial thoughts from a few months back

Assuming average miles for a California and private sales:

“
T5: £22k - £25k
T5.1: £28k - £35k
T6: £42k - £48k
T6.1: £53k - £56k

New T6.1 £68k”

I’m happy with those except:

T6’s seem to have fallen a bit lower, revise to £40-46k

T6.1 - the coasts are struggling to sell from what I can see, seems that if people are paying £50k and up they want the top of the line.

Ocean - Dealers (Breeze etc) are advertising early T6.1 from £56k.

So don’t think I’m too off here except private sellers seem to be holding out for higher prices.

I’d revise my T6.1 private sales to £50-56k, however I haven’t seen any average mileage T6.1 Ocean at £50k, so clearly I’m on my own here but I think they will fall to this on the next few months.

Dealers have stock left of T6.1 Oceans with 5 years servicing, 0% finance etc at £68k. So the gap of £18k for a 3 year old van, private sale seems reasonable to me.

Updated, assume private sale & average Cali mileage.

“T5: £22k - £25k
T5.1: £28k - £35k
T6: £40k - £46k
T6.1: £50k - £56k

New T6.1 £68k”