Boat Prices-is NADA pricing correct in in thiseconomy?

[phillyg]

Wanting to buy 1992 Chris Craft 30' cruiser. NADA guide indicates low of $18,500 and high of $20,995. Asking price is $24,900. Boat needs TLC but all systems appear functional and motors have only 380hrs. Will be getting a survey and test ride, but I just don't know if NADA is valid.

A couple tried to buy the boat but could not get financing. I have the funds but don't want to overpay. I'm thinking of offering $16,500, and might go to $17,500 if they counter. Does anyone have any insight as to whether I'm being unreasonable considering the sorry state of our economy?

 

[Lion hunter]

Re: Boat Prices-is NADA pricing correct in in this economy?

Re: Boat Prices-is NADA pricing correct in in this economy?

I have never seen nada accurate for any type of recreational vehicle. There are just not enough sold used through dealers to create a database for accurate information.

Kind of like nada trying to do home prices based on year. So buy rv's like you buy a home...use comparables. Search ebay, CL, ask marinas, to get the best information on value.

 

[Tubingluvr]

Re: Boat Prices-is NADA pricing correct in in thiseconomy?

NADA should be just a benchmark.
I believe NADA prices are based on the averages from sales.
I could be wrong and somebody will probably chime in if I am.

 

[tmfd]

Re: Boat Prices-is NADA pricing correct in in this economy?

Re: Boat Prices-is NADA pricing correct in in this economy?

I have never seen nada accurate for any type of recreational vehicle. There are just not enough sold used through dealers to create a database for accurate information.

Kind of like nada trying to do home prices based on year. So buy rv's like you buy a home...use comparables. Search ebay, CL, ask marinas, to get the best information on value.

I hope they are not accurate, if they are then I just overpaid about 4000 dollars on a boat. I paid 5300 for an 88 16ft Starcraft/johnson 60. NADA lists it at about 1300 for boat and motor, have to do boat and motor seperately. That is ridiculous for this boat in excellent condition. I do not feel that I overpaid, from looking at many many boats in that price range.

 

[tashasdaddy]

Re: Boat Prices-is NADA pricing correct in in this economy?

Re: Boat Prices-is NADA pricing correct in in this economy?

nada imho, is useless when it comes to boats and motors. in the real world 20% depreciation, leaving the dealer, 15 % more the second year, the 10% for the following 3 years.

when you get past 5 years, you have to really inspect and look at the local market.

 

[LIQUID PROZAC]

Re: Boat Prices-is NADA pricing correct in in thiseconomy?

i also use the market--cl or classifieds

 

[lakegeorge]

Re: Boat Prices-is NADA pricing correct in in thiseconomy?

If they want to sell the boat they will take your offer. Always go lower.

 

[airdvr1227]

Re: Boat Prices-is NADA pricing correct in in thiseconomy?

NADA is a guide used more by the lending institutions to know how much they should loan. It's a good starting point reference is all.

 

[mikeneal]

Re: Boat Prices-is NADA pricing correct in in thiseconomy?

Boattrader*com used to have a used boat value feature (not sure if they still do). It allowed to to search for the boat over the past several years and see what they sold /listed for and location etc. IMO way more accurate the NADA.