Used Boat Values - Value tools

[A1957]

I’m wondering what different people use as guides to value boats they are considering buying or selling. Before you even get to the point of a survey.
I am looking at a 2013 Chris Craft Corsair 25. It’s for sale for $100k but the JD powers site says it’s worth between $62k-$71k. BUC says it’s worth $66.5k-$73k. Both of these numbers are with all of the equipment/options that I could check to match the listed boat, without a trailer.
This is a HUGE difference.
This boat is listed at a broker so I’m wondering what they might know that I don’t. Or what they’re using that I’ve missed. I’m going to ask for the broker for recent sales data which I assume will come from soldboats.com but unless I see it online myself, it could be tweaked to the brokers advantage. Not a lie, but selective data.
There used to be a site called Yachtbudda.com that would give you a printout from soldboats for $19.95 but I see they’re gone.
I would have thought Covid pricing was behind us but maybe not…
Any ideas or guidance?
Thanks

 

[Scott Danforth]

COVID thru all the prices and values in a blender

There are a bunch of 2013 and 2014 Corsairs that are above $100k. That appears to be a valid price

 

[airshot]

Just because they ask that much, doesn't mean it will sell for that much ! Most used boats have high asking prices, but few sell for that....

 

[A1957]

So JD Powers and BUC mean nothing?
I really need to see sold boats.com….

 

[tpenfield]

NADA/JDPowers tend to be low for older boats. BUC is a little better, but can vary.

What I have learned over the years about used boat pricing is that in terms of price range, boats sell from the bottom of the range. I usually make a chart of the asking prices of same/similar boats and it gives a more visual of the market for the boat. It works well if there are many boats for sale.

In situations where there are few, then there is more guess-work. In this case, there are two 2013 Chris-Craft Corsair 25 boats for sale in the USA. $99K and $89K. Older ones are more in the $60-50K range. The one at $99K had a price drop, meaning that it was over-priced . . . perhaps it still is.

Also, keep in mind that the boats listed on the advertisement sites (Boat Trader, Yacht Wold, etc.) are the boats that have not sold. Once they sell, they are gone. You will tend to see the lower priced boats sell, while the others hang on the market, thus selling from the 'bottom'. Eventually, they too lower their price to a point where the boat sells.

Boat trader has a nice tool that provides some information . . I assume from their history of advertisements and other sources, but who knows.
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Then it becomes a matter of what the boat is worth to YOU. See, if you can get the boat for $90K.

 

[A1957]

$90k seems to high when both NADA and BUC have it in the low-mid $70’s.

 

[tpenfield]

$90k seems to high when both NADA and BUC have it in the low-mid $70’s.

-> What is the boat worth to you?

-> What are the odds that a seller listing their boat for a higher price than you want will come down to your price?

It is all part of price negotiation.

 

[briangcc]

You're in prime boating season where prices are up. Wait a couple months where owners need to consider laying up for the winter again - winterization, storage, shrink wrap, etc. Prices will drop.

Or pivot to something else that is in your price range today.

 

[A1957]

While we’ve already sold our old boat, I’m not in a hurry to buy a new one when the prices are high. I have access to another boat to use for the season and I’ll keep watch in the fall and see what happens.
The one I’ve had my eye on for awhile has been for sale for 9 months and has had two price drops of $10k each. One more $10k drop and it will be in the range of an offer I’ll make.