Boat values

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lostatsee

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This subject has probably been discussed before but I am new here. I am looking for a boat and the asking prices are twice the NADA values. How can I determine the real value of a boat?
 
matt167

matt167

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Re: Boat values

Whatever your willing to pay. If owner accepts, you know you did not pay too much. NADA prices for boats is often extremely low, and any boat in GC can exceed book value in boating season. If your season does not stop, your never going to get a price break

Boat Values, Prices, Evaluations, Used Boat Price Guides - BUCValu is more correct pricing, but it's only free for a few values
 
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Augoose

Augoose

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Re: Boat values

Look on Ebay, boat trader and Craigslist in your area to see what the local market dictates for similar boats if you don't like what Nada is telling you. I've heard many different opinions of the accuracy of nada and it really depends on region. On my two most recent boats and for my area NADA was dead on the money.
 
Bob_VT

Bob_VT

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Re: Boat values

lostatsee said:
This subject has probably been discussed before but I am new here. I am looking for a boat and the asking prices are twice the NADA values. How can I determine the real value of a boat?
Click to expand...

Welcome to iboats.

Twice the NADA :eek: ......must be a boat load of cash in the glovebox. Sorry but there are no boats worth twice the value since they depreciate rapidly.
 
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Artwerke

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May 22, 2013
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Re: Boat values

NADA values for 25-30 yr old boats is often more like "nada" Here, any boat that floats & runs good is worth at least a couple grand.
 
Taxus812

Taxus812

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Re: Boat values

Make sure you select all of the boats features as well. If I put mine in with no options I come up with 9k. If I add in all of my Fish and Ski option and select the correct HP of the motor it comes in at 13k
 
tpenfield

tpenfield

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Re: Boat values

Welcome to iBoats . . .

I did some benchmarking of NADA versus BUC last year when I was in the market. NADA is essentially a depreciation schedule, whereas BUC is more of a market value indicator. So, with NADA it will tend to overstate the value of newer boats and understate the value of older boats. I found that NADA and BUC are about the same for boats in the 12-14 year old range.

Another thing you can do, if you are looking at buying a fairly popular boat, where there are a few similar/same brand, model and year on the market . . . you can see what the lowest price boat is on the market. that is where the boats typically sell . . . at the low end of the range of asking prices.

you might want to tell us a bit more about the boat that you are considering and also check out BUCvalue.com for what they say about the market value. Chances are that twice the NADA price is way out of line and may not be worth your time.
 
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lostatsee

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Aug 31, 2013
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Re: Boat values

I am just coming back to power after sailing a few years. I am interested in a big deep center console with an Armstrong bracket. I like the full transom and openness of the aft deck. I have only been looking for the past week but most of the prices, (my range is modest, 8000-15000,) are well above nada. For example, I looked at a 2005 Angler 180 with a 90 merc, the asking price was 10,000 which I didn't think was too terrible, until I checked with nada and found their average value was 8000. Another boat priced at 15000, was 7700 on nada. I am afraid to broach this issue with the owners for fear of getting beat up. It seems to be a pattern. This is upstate NY near Lake Ontario and 1000 Islands. Maybe I'm just running into bad deals?
 
WIMUSKY

WIMUSKY

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Re: Boat values

2005 asking $10k and NADA said $8k, no, that's not bad..... That's standard for my region. Usually if the boat is anything at all it sells instantly...... The other one is way out of line unless you forgot to add something to NADA like the motor.......
 
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moosehead

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Re: Boat values

OP, fire away with any and all offers including handing hard copies of the NADA values to the seller. As you know, tis the season of motivated sellers in the great white north. You should do well in your price range for your desired craft. Happy hunting and welcome back to the dark side.
 
WIMUSKY

WIMUSKY

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Re: Boat values

Don't let NADA being a couple grand less than asking turn you off to a really nice boat. Don't forget about the price dickering too...... The $10k boat may come down to $9k...... If it's a real nice boat, that would be a very good deal, IMO......
 
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moosehead

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lostatsee

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Aug 31, 2013
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Re: Boat values

Thanks Moosehead, for the leads. A good example of my opening statement can be found in that Key West 176cc on the list. The asking price is 17900, nada says 10900.

ps: I made a mistake on the motor, I went back to fix it and the nada site stopped working. I mistakenly listsed the motor as a 2004, it is a 2008, so the value will be higher, but still not anywhere near 17,900

98 COBIA: asking 12,800, nada 7000.
 
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tpenfield

tpenfield

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Re: Boat values

One thing to make sure of with outboard motor boats priced on NADA . . . sometimes the pricing includes the outboard motor and other times it does not. So, that can throw you off a bit. Check the notes section for the manufacturer and model to see what is included and what is not.

Same goes for boats with trailers . . .
 
metriccrescentwrench

metriccrescentwrench

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Re: Boat values

DON'T use NADA. As has already been mentioned it appears they use nothing more than a depreciation table, plus it seems to be more what a dealer would pay on a trade-in.

I made the mistake of believing what they said when I was first looking to buy a boat. I royally pissed off a seller, who was able to sell the boat the next day for near the asking price.
 
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lostatsee

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Re: Boat values

I thought that nada determined values through registrations. They list the original list price, current low retail, and current average retail. I just saw a Sea Pro 235 online listing for 15000. nada says 10,300. If I look at anymore boats I think my head is going to fall off.
 
tpenfield

tpenfield

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Re: Boat values

lostatsee said:
I thought that nada determined values through registrations. They list the original list price, current low retail, and current average retail. I just saw a Sea Pro 235 online listing for 15000. nada says 10,300. If I look at anymore boats I think my head is going to fall off.
Click to expand...

Not sure what that means . . . NADA is pretty vague about where their info comes from. Do you have some additional information regarding NADA being based on 'registrations'?

They list "Suggested List Price", "Low Retail" and "Average Retail" . There price schedule looks more like a depreciation schedule. Here is a graph that I made of NADA vs. BUC last year when I was looking at Formula 280SS boats.

BoatValues1.jpg
 
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