Nada Guide

[SavinRaven]

So everyone likes to discount Nada Guide what is a reasonable way to find pricing on used boats? What is the true value?

For those that use Nada guide as a starting point explain why and how you use it to price used vessels.

 

[dwco5051]

True value is what one willing buyer will pay to one willing seller for an item. Book value is based on collected data of the average selling price of an item. I suspect that NADA values or based on a small percentage of the actual number of sales on that item. Statistic calculations accuracy depends on sample size. If one particular boat out of 200 made sells for X dollars it does not mean the other 199 are worth X. With most older boats sold as private sales and not included in the sampling because it is harder to collect the data as opposed to dealer sales which would usually command a higher price. NADA prices will seem to be higher since a properly prepared boat sold by a dealer will command a premium.

Check want-ads, Ebay, Facebook, and boat related selling pages in your area to find out what a particular boat sells for.

 

[dingbat]

As noted above, experience with the local market.
I live in a high rent area on the coast.....can't give a "lake" boat away yet "coastal fishing" boats go for top dollar.

Having said that, just checked the NADA value of my now "past useful life" fishing boat....lol
Suggested List $40.8K - High Retail $23K - Low Retail $17K
A little low but in the ball park. Would have no problems selling for $25k

 

[Scott Danforth]

NADA on a 1990's bayliner sitting in the swamp for 10 years with a rotten hull, bad motor and bad drive would be $0, yet people are still buying them for $3-$5000

NADA on my boat says $15k with the work I have done, yet cant touch a similar boat for under $25k

I also know that taken a particular boat (brand/type/etc doesnt matter). Lets say that boat sells for $8k in Florida, $12k in the North East States, $11k in the midwest states, and $6k in the heartland states. however in Canada, it will sell for $22k Geographic local will change a boats value.

as stated above, if one person values the a boat being sold for $1 higher than the price its being offered for, it will sell.

 

[tpenfield]

The true value is what someone is willing to pay for something. No chart, calculation, or other mechanism can predict what someone will pay.

NADA is largely a depreciation curve type of value estimate. There are other resources that use more current market input, like BUCValue. I generally use the current market and asking prices and see what sells and what hangs out there on the market.