NADA Values

[cddetelich]

I am looking at a used boat. Checked the NADA used boat prices, but someplace I read that these prices are for boats used in freshwater, and if the boat was used in salt water the NADA value should be decreased by 20%. Any truth to this? The boat I am looking at has a NADA value of $5,000, but it has always been in salt water (which is where I will also use it) so should the value be $4,000?

 

[Dead Eye]

Re: NADA Values

I found NADA prices accurate +\- 10% . Just bought a used boat and used NADA as a guide. Now is the time of year to buy a boat. Once heard by in the fall, sell in the spring. Offer the lowest price on the NADA you might get lucky. I did, Remember the owner has to get it winterized and in the spring ready to sell. <br /> Dead Eye

 

[CalicoKid]

Re: NADA Values

I have found NADA to be way out of line in my area. Boats typically sell for a lot more than NADA prices if they are in good shape.

 

[pine island fred]

Re: NADA Values

Believe NADA gets there prices from dealers not individulal sales. In my experience only, the nada price is just wishful thinking for the seller. Just like selling a used car. Seller needs cash and most people dont have it, so in the end they must lower the price substantionally or else look at it all winter. <br /> Was the boat moored in salt water or trailered? Outboard or i/o? regards fred

 

[cddetelich]

Re: NADA Values

Fred,<br />Boat has always been docked in salt water from April until October. Motor is 175 Johnson outboard-seems strong, but I am having a mechanic check it out.

 

[BillP]

Re: NADA Values

In my experience with a few boats every dealer and lending institution in my area (east coast of Florida) uses NADA for small boats. It's the first book they pull out and the one they quote prices from. This has been going on decades. <br /><br />Here's a reply I received from NADA when asking about prices. =================================================<br /><br />Bill,<br /><br />I am in receipt of your email regarding our valuations, thank you. I completely understand your question, even employees of NADA run into this statement from time to time. For example we hear that the values are not market reflective or we develop them with a dart board.<br /><br />With that said, we collect, review and editorialize used sales reports from our advisory board members in the marine industry to develop valuations. Our advisory board is comprised of over 350 marine dealers and brokers across the United States. The area though where we might run into a bit of trouble is with exotic or limited production boats. For example, a 2002 90' Hatteras may not change hands for a few years, "Due to limited resale activity", we are unable to establish a used value. Our values are based on a national average but clearly there are products in great condition in the marketplace worth considerably more and conversely in bad condition worth considerably less. <br /><br />This might also be the case with a Corsair Trimaran, we recognize and list them, but because there are not as many sold as say Bayliner it makes our job a bit harder. Although we do our best and please know if you run into any difficulties or would like us to review the marketplace and values we will more than happy to assist you if we can.<br /><br />As a side note, we ship over 350,000 publications a month and very rarely hear of problems.<br /><br />Please keep in mind that this is a National Average and the valuations might need to be adjusted for your marketplace and are intended to be used as a guideline. Also, you are looking at the consumer website which does not show the high values which could be as much as 15% higher.<br /><br />Sincerely,<br />Troy D. Heidemann<br />Assistant Editor/Marine Division<br />N.A.D.A. Appraisal Guides<br />(714) 556-8511, ext. 261<br />theidemann@NADAguides.com

 

[qapd]

Re: NADA Values

I used the NADA Book value to get my seller down. After a little negotiating he accepted my offer of NADA price. He then threw in a pickup load of ski and fishing gear. Made the deal that much sweeter.

 

[Richard Petersen]

Re: NADA Values

Get rich on the other guy people never use NADA. Normal people do.

 

[swist]

Re: NADA Values

Boats and cars and houses are some of the few things left than still obey, ay least to a certain extent, free market economics.<br /><br />Your boat is worth what someone will pay you for it. I am amused when people say my house/boat/car was really worth X$ but I had to take less to get rid of it or becuase there were few takers.<br /><br />Sorry, your item was not worth X$ if no one would pay you that, reagrdless of what any book or comparable sale says.