As a seller, pricing your caravan can seem to be a very overwhelming task - you don’t want to underprice it and lose out on cash, but you also don’t want to overprice it and put off potential buyers.
In order to avoid these problems, it’s important not to just pull a figure from thin air. Your caravan’s worth is based on a number of different factors so you must take all of these into consideration before you set your price.
We’ve created a guide that runs through all of the questions you should answer before settling on a figure.
Has your caravan retained its value?
This depends! Much like cars, newer caravans tend to go through their most substantial depreciation over their first few years of use. Some touring caravans will experience a 20% drop in value over the first two years. So if you bought yours fresh out of the dealership, you’re likely to see much more of a drop than those who purchased a used model.
It’s important to remember that no one is going to buy a used caravan at a new price. If you price it too high in order to retain your investment, it’s likely that your audience will decide to just buy new instead. Who’s going to choose a used caravan for the same price that they could buy a brand new one? Take the depreciation into consideration and adjust the price accordingly.
On the other hand, used caravans tend to retain their value more steadily, therefore the price will be a lot more dependent on other factors such as the caravan’s condition. Used caravans will still depreciate, however not at such a drastic rate as newer models.
Bear this all in mind as you read through the rest of the questions.
What are similar models on the market for?
This is where sites like Caravans For Sale
can come in really handy - we have thousands of touring caravans for sale on our site, so you should be able to find some listings that are similar to your own. This is a really easy way of getting a ballpark price as you can see what the rest of the market is doing and adjust to where you see your caravan fitting into it.
If you can find a model that’s the same year as yours with matching features, this will be extremely helpful when it comes to choosing a price - after all, that ad is likely to be your competition!
What’s the current market like?
You may think that once you’ve come up with a price, that’s fixed. However, the caravan market can be very dependent on external factors which can have an impact on your selling price. These factors don’t change your caravans value, but they will have an effect on the price you can sell it for.
An example of these market changes can be if there’s demand for specific models or caravan types. If you have one of these, you could be able to price your listing slightly higher to take advantage of the demand.
Another factor is seasonality. The market sees an increase in demand at the beginning of spring as the beginning of the season approaches. This burst of interest will run all the way through the summer, beginning in February and carrying on until August. During these busy periods, it’s likely that caravans will sell quicker and for higher prices. In line with this, during the colder months, there are less people in the market and therefore you won’t be able to chance such increased prices.
A big factor that can impact the market is a boom in interest. For example, in summer 2020 following the COVID-19 lockdown, we’ve seen a huge increase in the market with thousands more people holidaying in the UK. This surge in demand has meant that the caravan market value has been pushed much higher than it would usually.
How old is your caravan?
In most circumstances, the older your caravan is, the less it will be worth. As we have said earlier, caravans depreciate over time so you will see a decrease in value the older your caravan gets.
Even if your caravan is in excellent condition, as it gets older the technology inside it will become outdated and newer models might offer better features and/or layouts. This will therefore have an effect on the worth.
This is another reason to check out what’s already being advertised on the market as it will give you a guide price for caravans of a similar age.
What condition is your caravan in?
A caravan that has been well looked after and is still in excellent condition will be able to sell for a higher price than one that is not in a good state.
There are a number of elements you can keep in minding when judging the caravan.
You want to start by checking the exterior for any marks, damage or dents. While anyone buying a used caravan will expect a bit of wear and tear, it could be a good idea to get any issues fixed before you put it on the market. This will allow you to charge a better price. Also, make sure to give it a good clean - appearances go a long way in securing you a deal. If a viewer can see that you’ve looked after the exterior, they’ll be more likely to think that the rest of the caravan is in good nick.
Next, take a look inside. Check for any damage or changes you may have made to the caravan. You will need to factor these into the price.
Some caravan layouts can be more desirable than others, so again it’s helpful to look at the current market and see whether your layout is going for a higher price.
Most importantly, you need to make sure that all of the features and elements allow the caravan to move and perform in a safe and efficient manner. Anything that will affect the caravan’s ability to do its job will mean a reduction in price.
Here’s a helpful checklist to ensure you’ve thought of everything:
Is the paintwork intact?
What is the overall condition of the body?
Has either the interior or the exterior had to have any major repairs?
Are the windows still scratch free and clear?
Do the windows still open/close successfully?
In what condition are the tyres and wheels?
Is there any damage that is noticeable and in need of urgent repair?
Does any of the damage stop it from operating in a safe and efficient manner?
How big is the caravan?
Size is a big factor in caravan valuation. This may have been something you took notice of when you were buying, making sure the caravan was big enough for your needs.
Bigger caravans tend to be higher in value, as you’d expect. So if all else is equal, the larger caravan will always be worth more than a smaller model.
What additional accessories does your caravan offer?
Sometimes, certain accessories can add more to the price, including things such as awnings, air con units and radio controlled moving aids. It could be a good idea to chat to a local dealership about what to include in your sale and which accessories can bump your price up.
Otherwise, you might be able to make some extra money selling them separately.
What is your caravan’s service history?
If your caravan has a good service history from a reputable service centre, this will be really attractive to a potential buyer. This way they know the caravan has been well cared for and regularly checked over by experts, putting the buyer’s mind at ease.
If your service history indicates any future problems, you’ll have to bear this in mind when pricing also.
Remember, if you don’t feel confident pricing your caravan yourself or you’d like some guidance, pop into your local dealership who may be able to give it a once over and help you with their expert opinion. Or you can do quick checks, using online sites such as Caravan Price Check or National Caravan Buyer.
Another thing to keep in mind is that if you’re selling on sites such as Caravans For Sale
, you can always edit your price further down the line so you don’t have to feel bound by your decision. Decide on a figure and you can always adjust it based on demand in the future.
Place your ad on Caravans For Sale today to put your caravan listing in front of thousands of potential customers!