LMTV auction prices getting a little ridiculous

[rodny123]

Had my eye on a LMTV in today's govplanet auction. Non running unit sold for $6,600. Plus fees and taxes puts it over 8k. That seems a little crazy for a NON running unit. Very big gamble. Getting a little depressing looking at these auctions every week and somebody gets bid happy. You used to be able to get these at a pretty good deal. I guess those days are over. Your thoughts.

 

[simp5782]

Had my eye on a LMTV in today's govplanet auction. Non running unit sold for $6,600. Plus fees and taxes puts it over 8k. That seems a little crazy for a NON running unit. Very big gamble. Getting a little depressing looking at these auctions every week and somebody gets bid happy. You used to be able to get these at a pretty good deal. I guess those days are over. Your thoughts.

They went cheap out of Ft Campbell last week. Guess you missed those? Some trucks aren't worth a dang but others are. You are taking a chance with any of them.
And it's about location, location, location

 

[rodny123]

Yeah when we had talked you mentioned that the Kentucky trucks lately have been having electrical issues so I steered clear of those. Electrical is usually a pain in the butt to get diagnosed and fixed.

 

[simp5782]

Buying a straight running truck you are going to pay for it. Costs of everything is going up.

 

[NV555]

From my viewpoint more of these trucks are being used for civilian use than have been in the past. Also people have more money and better off than they were 5 years ago so more toys and bigger collections. I talk to more and more people wanting an overland RV and they like the LMTV platform. Maybe the LMTV does not have that military look and feel that a 5 ton or Duce have.

I did think adding an ECU to the process would have kept prices a little lower or flat with foreign buyers knocked out.

 

[spankybear]

The thing is with auctions is they are auctions... All it take is 2 people who wants the same truck and that's all it takes for the price to skyrocket. I got my truck for a really good price. Maybe I got lucky but I had been looking for about a year or so.

My recommendation is be patient and set YOUR price and don't bid higher. This way you will not get into a bid frenzy. Also don't set your sights on just one truck in the auction. If there are a bunch pick out 3 or 4 and bit your set price. You'll get one... just may not be next auction.

 

[mkcoen]

Last week or the week before (don't follow them that close anymore) a M1079 went for over $16k before fees/taxes. And I can't even get $14k for mine that's running, titled, 95% tires, Air Conditioning, etc, etc, etc

 

[M1078MAN]

I was really surprised when I bought mine from GP in Aug, I actually got it for a screaming price, I think ($3700) out of Bragg..it was listed as non running, however its running now.. just needs some minor electrical stuff worked out with trans (I hope).

This was one of those, drop my max bid and get a notification that I won within the minute.. I wasn't even hunting for one at the time..it just fell in my lap.

Like SIMP and the rest have said, just keep searching..it will fall in your lap when you least expect it

 

[wheelspinner]

Last week or the week before (don't follow them that close anymore) a M1079 went for over $16k before fees/taxes. And I can't even get $14k for mine that's running, titled, 95% tires, Air Conditioning, etc, etc, etc

1079s also demand a premium running or not.

 

[99nouns]

Last week or the week before (don't follow them that close anymore) a M1079 went for over $16k before fees/taxes. And I can't even get $14k for mine that's running, titled, 95% tires, Air Conditioning, etc, etc, etc

Thant took my attention too, same goes to when you buy a phone, if it is factory ROM it is expensive, but as soon as you unlock it and install a custom ROM, it is a dirt price.

Maybe getting it directly from Government untouched has its value.

 

[mkcoen]

Thant took my attention too, same goes to when you buy a phone, if it is factory ROM it is expensive, but as soon as you unlock it and install a custom ROM, it is a dirt price.

Maybe getting it directly from Government untouched has its value.

You generally know buying a phone that it's going to work when you get it and if it doesn't you can take it back. This is more like paying a premium for a phone box hoping there's a working phone inside instead of buying one from a neighbor that can demonstrate to you that it works.

 

[Ronmar]

You generally know buying a phone that it's going to work when you get it and if it doesn't you can take it back. This is more like paying a premium for a phone box hoping there's a working phone inside instead of buying one from a neighbor that can demonstrate to you that it works.

Excellent!

 

[Third From Texas]

And I can't even get $14k for mine that's running, titled, 95% tires, Air Conditioning, etc, etc, etc

I somehow think that's no longer an issue.

 

[Ronmar]

IMO your best bet to find a deal is to line up a skillset(buddy who will work for beer and pizza), such as electrical, and look for one with defects in that area(electrical seems to scare many away, but they really have a pretty straightforward electrical system)... Everyone bids on the ones that have a clean report so they go for a premium. The partial basket cases get less attention and go for much less.

Mine had a bunch of electrical issues and a decent drivetrain, needs some door work and parts. Only two of us bid on it and I had the electrical issues resolved and or identified in the first week playing with it. Only needs a turn signal flasher now... in the end it will still have far less into it than my 2000 tacoma...

The fact is, you are going to pay eventually unless you build your own knowledge base to fix it yourself. The person who fixes them always learns the most about them so buy a cheap one and dive in... If you dont want to learn, or dont enjoy fixing things, better have deep pockets...

good luck if you should choose to accept this mission

 

[319cssb]

Im not sure what you mean by prices are ridiculous. As a owner, you obviously want prices to go up.
if you feel it is too much for you, then just consider the acquisition fee or look up the prices of a truck from some of the retailers.
Used vehicle offerings may not get a hit, as there are far less people looking for a truck to buy on Craigslist this big auction site offeres a lot of vehicles foe people to get their gamble dreams and hopes up.
Forums have other vehicle owners, so they won't pay a good price, but they enjoy watching.
Ebay is a place for husbands to go, when they try to convinve their wife, that they should buy an LMTV.

 

[99nouns]

Im not sure what you mean by prices are ridiculous. As a owner, you obviously want prices to go up.
if you feel it is too much for you, then just consider the acquisition fee or look up the prices of a truck from some of the retailers.

Yeah but OP said he cant even get the half price of what the auction prices where he can prove everything works versus ball of steel which might end up as yard ornament.

 

[319cssb]

Yeah but OP said he cant even get the half price of what the auction prices where he can prove everything works versus ball of steel which might end up as yard ornament.

If he would sell his truck at that auction site, he would get a far better price dor his truck. Its where most peiple look for this kind of stuff.
If someone sells his truck outside of it, the truck must be overpriced, because in the public eye, the starting bids are so much less and a private seller will just try to flip his truck at a great profit or there is something really very wrong with it.
Thats how the masses think.

 

[Ohiobenz]

I got my M1079 as a non-runner at a GSA auction for $8k.
That's after watching another one on GP/IP go for $16k.
I was able to talk to the mechanic at the Forest Service where my truck was located and verified the 3600 mileage, plus that it just needed batteries. He fired it up with a jump cable. The truck had a bent tire lift cylinder and missing driver door hardware. It was driven on and off the low boy...

 

[319cssb]

I got my M1079 as a non-runner at a GSA auction for $8k.
That's after watching another one on GP/IP go for $16k.
I was able to talk to the mechanic at the Forest Service where my truck was located and verified the 3600 mileage, plus that it just needed batteries. He fired it up with a jump cable. The truck had a bent tire lift cylinder and missing driver door hardware. It was driven on and off the low boy...

ok and apart from being a nice bar story. What does it have to do with the thread?

 

[NV555]

Also seems like less HMMWVs for auction these days. People are learning what a great truck the LMTV is and buying them. I remember when I bought my first HMMWV and saw that a LMTV wasn’t much more I was thinking wow I should get one of those as well I thought they would be much more expensive. Now I own 2 of each and very happy with both.

I agree GP would be a good place to sell and worth the 10%.