selling boat with a new Jasper Motor..worth?

[zoom50]

I just bought a new boat and finding it difficult to sell my old 1990 18' Mach I open bow. I just installed a brand new 4.3 Jasper motor w/warranty and wanted to know how much the boat is worth. NADA claims $5,800, but that is with old motor.<br /><br />Included is the following:<br />Bimini<br />Brand new Garmin fish finder<br />snap bow cover<br />snap mooring cover<br />skis<br />new tube<br />stainless rod holders<br />trailer<br />99% fresh water use<br />oil filter relocation kit<br />new u-joints/bellows/battery<br /><br />Boat runs great and I dropped price to $5800 (paid 4800 for motor/labor). I just decided to put it on consignment because I don't want to pay storage/insurance...How much lower should i go? I had lots of people interested, but none had money. Where I live, it seems easier to finance used boat at dealer and I am burning some serious cash on ads. Thoughts?

 

[John Carpenter]

Re: selling boat with a new Jasper Motor..worth?

I wouldn't pay much attention to NADA...a better indicator of value would be listings for similar boats in your area. The only "book" listing that I place much worth on is the ABOS Marine Blue Book. You might find a copy at a local bank or the property valuation office. If you are friends with the local boat dealer he will have a copy.<br /><br />Cost of the repower aside...a 1990 18 footer with a 4.3L...new or not, would have to be in pretty nice shape to bring 5K around here. If you just dropped the price to $5800 it is not surprising that you are spending a lot of money on ads. I think you are high on your price...no offense.

 

[zoom50]

Re: selling boat with a new Jasper Motor..worth?

Non taken...It just kills me because the boat is very clean and runs like a gem. I will probably drop the price or donate it to charity so I can not owe so much money to the IRS next year. Thanks.

 

[phatmanmike]

Re: selling boat with a new Jasper Motor..worth?

check this out....<br /> http://adcache.boattraderonline.com/6/5/8/78500858*htm <br /><br />note, you must change the " * " to a " . " just before the very end of the link. iboats frowns upon direct linking to other sites. so if you click you wont get anywheres, unless you change the * to a .

 

[zoom50]

Re: selling boat with a new Jasper Motor..worth?

Wow, they did make more than one boat! Thanks for the link. I think I will drop the price another grand.

 

[pine island fred]

Re: selling boat with a new Jasper Motor..worth?

Yep, you said it all when you mentioned financing at a dealer. People will pay a lot more if they can finance it. Works the same with cars/trucks. People do not have the cash. I believe the BLUE BOOK values reflect prices paid with financing. Suggest you drop the price somemore, bit the bullet, boating season should be kicking in soon up there. best of luck, fred

 

[RatFish]

Re: selling boat with a new Jasper Motor..worth?

Don't donate your boat to charity!!! The tax laws regarding auctions have changed. <br /><br />Whoever auctions your boat is required to report the actual auction price to you AND the IRS. You can then deduct the selling price against income NOT taxes due/paid.<br /><br />I'll illustrate why this is so bad for the seller... Lets say you donate your boat to a charity. The charity sells it at auction for $3000. I'll assume you are in a 25% tax bracket. Now do the math; $3000x25%(.25) = $750. You can only expect a $750 reduction in taxes you owe to Uncle Sam. <br /><br />You just earned yourself $750 for that $5800 boat! If you don't believe me ask any competent tax accountant.

 

[mattttt25]

Re: selling boat with a new Jasper Motor..worth?

unless of course he wants to just be CHARITABLE and donate the boat...

 

[RatFish]

Re: selling boat with a new Jasper Motor..worth?

Yes, of course.