Research is the foundation of a good purchase or even a good sale. You should never try to buy or sell anything unless you have completely studied the market and understood what price range you would be operating between. As any individual who has experience of buying and selling expensive possessions such as a bike would tell you, if you fail to study the market and the going rate then you stand to lose money. If you are considering the NADA and KBB motorcycle values, then it is likely that you already have an idea that you need to research before making a purchase or sale. Consider the following.
What Are KBB And NADA?
KBB stands for Kelley Blue Book while the full form of NADA is National Automobile Dealers Association. KBB began as Kelley Car Company, a car dealership, in 1918 but by 1960, it had changed its focus and become an automotive vehicle evaluation company or a specialty publisher. NADA also began around the same time as KBB with the exact year being 1917. It is primarily an association of dealers representing 17, 000 different new car and truck dealers.
Both KBB and NADA are known for providing price guides containing prevalent prices of automobiles. Currently, scads of people in the country refer to KBB motorcycle and NADA motorcycle guides to decide the right price to sell or buy bikes.
The Variation in Their Guides
The main problem that people face when it comes to KBB and NADA guides is that the prices they provide differ greatly with differences sometimes amounting to as high as $800. This often ends up confusing potential buyers and sellers of bikes as opposed to giving them a clear idea of the prices. If you plan on using NADA and KBB motorcycle price guides, then you will have to understand why their prices differ. The reason for this difference is that NADA motorcycle guides are based on dealer wholesale prices while KBB guides contain estimates of retail prices. Now that you understand the difference between the two guides, you need to learn how to come to the right estimate for the bike that you are considering buying or selling.
How to Decide the Right Price?
Deciding the right price for your bike cannot be done with either KBB bike guide or NADA guide. In fact, even combined they would not give you a clear enough picture of the prevailing prices in the market. The trick to finding the right price for that bike you are planning to buy or sell is to check as many sources as you can including KBB and NADA guide. This means studying various ads, numerous completed deals, and even talking to as many buyers and dealers as you can. Typically, most people who consider KBB and NADA guide find that the actual retail market price is somewhere in the middle of the two extremes provided by the two.