For the first time in a very long time, the wholesale prices of RVs are behaving like they used to.
The new information comes from Black Book, a company that sources and integrates vehicle history report data and then analyzes millions of vehicle transactions to track valuations.
“For the first time in quite a while all of the RV market segments we track behaved in a way that would be expected in a ‘normal’ year, with the values of both motorized and towable units declining at wholesale auction as we head into winter,” said Eric Lawrence, Principal Automotive Analyst for Specialty Vehicles at Black Book. “With RV manufacturers setting new production records month after month, it’s possible that the supply of used units is finally catching up with the demand.”
Average selling prices down
Black Book said the average selling price of motorized RVs in November was $79,270, down $2,114 from the numbers they tracked in October 2021. Towable RVs followed suit, down $908 to an average selling price of $21,405.
Lawrence said that just a year ago, the average RV motorhome sold for $60,067 and a towable went for about $19,346.
The average age for a motorhome at auction was 11 years old, while a towable unit had an average age of seven years old.
COVID-19 reversed the trend
Lawrence said in a typical year RV resale values would start to decline as winter approached. In the 2020 buying frenzy driven by COVID-19, that trend was reversed as everyone, it seemed, was in the market to purchase an RV. This past November, the trend seems to have reverted to a more normal pattern.
Lawrence said RV auction volume was up for November, with motorhome sales gaining 2.1 percent in volume while towable sales increased by 7.7 percent.
Black Book experts also noted that the ongoing microchip shortage likely led some folks who would normally purchase new RVs back into the used RV marketplace. “Many used buyers are frustrated new buyers,” Lawrence said.