Help on boat value?

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Aquagliana

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Hey Im new to this forum and Im in need of some help. One of my best friends grandfather passed away a few months ago. So now his grandmother is going to sell his fishing boat and I'm first on the list. Problem is, we don't know what it's worth... I've looked on NADA but I don't trust it for true market value. She says she'll give me a good deal on it, but I'm also not trying to screw her over... Here's the details:

1998 Lund Rebel - Blue color in immaculate shape with a cover.
2008 Honda 30hp Four Stroke motor - literally probably has 20 hours use on it. Looks brand new.
Comes with a trailer, unsure year and make/model. But it seems like a decent one.


Any ideas??? Any help is appreciated and thanks to whoever posts!
 
tazrig

tazrig

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Re: Help on boat value?

:welcome: Welcome aboard. Try boattrader.com, iboats, ebay and craigs list, local news papers etc. Something to keep in mind boats tend to vary in price depending where they are being sold. So the closer you can locate one similar the more accurate your comparison price is likely to be.
 
WIMUSKY

WIMUSKY

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Re: Help on boat value?

Around my neck of the woods, if you get it for NADAs value that would be considered a good deal.....

tazrig gave some good suggestions. Just keep in mind, this time of year people are going to try and get top dollar and the prices will most likely be inflated....
 
C

colbyt

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Re: Help on boat value?

Please take everything said with a dose of reality. At nada you must price out the motor, boat and trailer separately to arrive at a final estimate that is most likely under actual market conditions. Here almost nothing sells anywhere close to the book value.


Watching local paper and Craigslist may give you some indication of asking prices. Prices are higher now then out of season.

Most states send a yearly tax bill with the registration renewal. For fairly modern equipment that is a reasonable low estimate. My state and others do not include the trailer (non-titled) in that estimate.

Between the taxable value and the nada price you have established the low end value of the boat. Now one needs to add or subtract for the few hundred to $1000 of "go withs" that are included. Things like troller, depth finder, life jackets, anchors and the list goes on.
 
jestor68

jestor68

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Re: Help on boat value?

Give her the asking price and she is happy. If she's happy, you didn't screw her over. :)
 
A

Aquagliana

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Re: Help on boat value?

These are all good suggestions thank you. NADA prices the motor at around $2800 alone and I guess that seemed high to me. The boat is NADA valued at $1,600 She says $3,000 for the entire package. I can't go wrong at that price can I? It also includes fish finder, some fishing equipment, a trolling motor, and other misc things.
 
WIMUSKY

WIMUSKY

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Re: Help on boat value?

Sounds like a deal to me. Just say "yes"...... :)
 
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Aquagliana

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Re: Help on boat value?

Also, I live in western NY right on Chautauqua Lake and 10 minutes from Lake Erie. So there's plenty of boaters and fishermen out here.
 
greenbush future

greenbush future

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Re: Help on boat value?

Lunds tend to hold the value very well around Michigan, they are a premium boat as far as quality goes. And 4 stroke outboards are not cheap either, then you have a trailer, 3 components that need to have a value assigned. $3k would be a great deal if they are in the shape you defined.
 
bonz_d

bonz_d

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Re: Help on boat value?

I would have to agree with give her the money and run! Even here in SE Wisconsin that would be a great deal. You don't say whether it's a 14' or a 16' Rebel. Not that it makes that big a difference. You will find it to be a very nice ride and very stable in the water. Yes they do hold their resale value very well and are much sought after, at least they are here.

I also just sold my 14' Lund to my lil brother and he's just pleased as punch.
 
roscoe

roscoe

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Re: Help on boat value?

my initial thoughts are 3000-4000, so if she wants 3, give it to her.



as for the comment below, simply not true, most states do not tax personal property. and if they do, assuming that it is somehow based on fair market value, would be a mistake.



colbyt said:
Please take everything said with a dose of reality. At nada you must price out the motor, boat and trailer separately to arrive at a final estimate that is most likely under actual market conditions. Here almost nothing sells anywhere close to the book value.


Watching local paper and Craigslist may give you some indication of asking prices. Prices are higher now then out of season.

Most states send a yearly tax bill with the registration renewal. For fairly modern equipment that is a reasonable low estimate. My state and others do not include the trailer (non-titled) in that estimate.

Between the taxable value and the nada price you have established the low end value of the boat. Now one needs to add or subtract for the few hundred to $1000 of "go withs" that are included. Things like troller, depth finder, life jackets, anchors and the list goes on.
Click to expand...
 
C

colbyt

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Re: Help on boat value?

roscoe said:
as for the comment below, simply not true, most states do not tax personal property. and if they do, assuming that it is somehow based on fair market value, would be a mistake.
Click to expand...


Probably just the states that have bearable real property taxes. Kentucky does cars, boats, trucks and outboards. What they use as an assessment tool for for pricing I don't really know.
 
tazrig

tazrig

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Re: Help on boat value?

roscoe said:
as for the comment below, simply not true, most states do not tax personal property. and if they do, assuming that it is somehow based on fair market value, would be a mistake.
Click to expand...

Here in MA I pay an annual state tax on my car, my boat, my trailer and my tow vehicle. This is separate from registration and inspection fees. We're not called "Taxachusetts" for nothing! Just to keep my boat trailer registered is $200 a year, not including tax or insurance!!:mad::mad-new:
 
southkogs

southkogs

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Re: Help on boat value?

... y'all move on down to Tennessee when you get tired of that stuff. Y'hear? I think my boat & trailer runs me about $25 annually to keep a tag on it.

So, Aquagliana - didja' buy it?
 
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