where to get accurate boat values?

[Panhead Jim]

Boat prices are all over the chart. Seems like just whatever the owner thinks it's worth. Two identical boats online can be THOUSANDS apart in asking price. The only place I know of to get a consistent value is NADA. Where do you folks go to get a baseline negotiating price? I've found a sweet rig but think the owner is way too proud of it. It's his baby and I understand that, but he's the one looking to upgrade so he needs (IMHO) to be a little more motivated. The particular story doesn't really matter, we all deal with this question. So where do you find your prices?
Thank you!!!
Jim

 

[Pony]

Re: where to get accurate boat values?

NADA.....at least in my experience.......is consistently under valued. I tend to look at what the dealers are charging for something similar, and figure I would want to be paying less because the private party boat more than likely hasn't been inspected by a marine mechanic. It depends on the market a little bit....here private party sellers are getting way more money than they would normally because there is a huge shortage of newer used boats on the market. Plus pictures can hide A LOT. A boat that looks great in a photo might not in person, which impacts value.....you can't really get a good grasp on the market unless you have actually seen a number of boats and compared the prices.

 

[LandOf10KLAKES]

Re: where to get accurate boat values?

KBB has them but same story. Its the passion and subjectivity of the seller getting in the way in an apples to apples comparison. that being said there is a huge difference in boyz-toyz depending on how well they were maintained/# of owners, etc...
Cant remember the name (but most google searches always have a pay-per-use site on boat values), otherwise you need to hire a marine appraiser or go on your own.
In Minnesota, like other hotbed boating areas you are going to do well if u are patient, know what u want, and settle for the diamond in the rough.
what do i know, however, I just boughtt a 470:facepalm::laugh:

 

[Home Cookin']

Re: where to get accurate boat values?

nada may be consistent, but wrong.

Local market and season are big factors in many places.

the value of a type of boat swings widely with location: Lake boaters won't buy the typcial deep V center console outboard; coastal boaters who know won't buy a i/o inboard. But to continue the example, it's hard to find a good center console outboard for sale on the coast, even though they are everywhere, because people hang on to the good ones, often keeping a smaller boat when they up-size.

Like with houses, emotional attachment keeps a lot of prices artificially inflated. Plus people who don't know boats expect to get their money back out of them, or more absurd, make a profit.

 

[crabby captain john]

Re: where to get accurate boat values?

NADA is more of a joke than accurate estimate of value. Time of year and location make a huge difference. In many locations it is not IF an OB is hanging on the stern but the make and HP of the OB.

 

[tpenfield]

Re: where to get accurate boat values?

Go to BUCValue . . . that tends to be a lot better, and it is what surveyors and other professionals use.

 

[UncleWillie]

Re: where to get accurate boat values?

Boat prices are all over the chart. Seems like just whatever the owner thinks it's worth. Two identical boats on line can be THOUSANDS apart in asking price.

You are half right and half wrong.
The value of the boat is whatever a buyer is willing to pay and a seller is willing to accept.
There is no such thing as two identical boats. Like identical twins, they all have had different lives.

This is the realm of the lost art of Bargaining.
The is no set price for anything at any instant. The boats value will be in constant flux based on the buyer and the seller.
An intelligent seller will value the boat high and the intelligent buyer will offer to buy low.
Some place in the middle will be a point where both the Buyer and the Seller are equally unhappy. That is the fair price point.

Find the boat that you like and then make an offer so low that you would be surprised if the seller accepted it.
Then the bargaining begins. If the seller is truly offended by the "Low-Ball " Offer, he doesn't understand how to bargain.

Watch the TV show "Pawn Stars" very closely to see how the process works.

 

[H20Rat]

Re: where to get accurate boat values?

The price is whatever the buyer is willing to pay. Seriously though, I have yet to find any guide that is even remotely close. Time of year, condition, options, they all vary far too much. Especially for outboard powered boats, as the value doesn't include the motor in that case.

 

[tpenfield]

Re: where to get accurate boat values?

It is always good to study the market for the type/size of boat that you are interested in. It is also nice to have some sort of reference point, like BUC or NADA, etc. Of course, studying the market can take some time . . . but I will offer these words of advice from my experience buying boats.

Boats only sell when buyer and seller agree on price, as stated in this thread. Asking prices will cover a wide range. If you look at boat Ad listings for particular brands/sizes/models you will tend to notice that the boats that sell are typically from the lower end of the range of asking prices. Usually the boats in the better condition at the lower prices sell, other ones do not sell.

Since I study the market in my area from time to time, just to checkpoint what my boat may be worth, and I went through the buying process last year, I have found a couple of notable examples in my local area.

1998 Formula 330SS for $49,900

2001 Chaparral 285 SSI for $32,900

These 2 boats, as an example, are in very good condition and have been on the market for over 1 year now . . . I recall these boats being listed last year at these same prices. So, what you can gleam from this is that a 1998 Formula 330SS is not worth $50K and a 2001 Chaparral 285 SSI is not worth $33K. If they were, they would be gone.

I have noted that similar/same model boats that were listed for less money have gone off the market and presumably sold.

So, to the OP and to anyone in the buying (or selling) process, check all your sources, (NADA, BUC, etc), check the local and even regional listings. Then, if you have time, watch the market to see at what price range boats of your interest tend to 'disappear' from the advertisement listings. That will give you a good idea of the price range where boats sell.

Having an in-depth knowledge of the market helped me get the boat I wanted at a good price, and that knowledge was particularly valuable during the negotiation process.

 

[pckeen]

Re: where to get accurate boat values?

One of the problems in getting the value of boats when they sold, is these values are never listed. If you go to ebay, and do a search for boats, then click on the 'sold listings' button - it will list all boats that have....and have not sold. That can give you an idea of what people are paying. Of course, ebay has its own set of rules and set of buyers and sellers, so conditions there can be different from your local market.

What you may want to do is post pics and info here on any boats you are buying and selling, and see what opinions people here have. I've done this, and found it very useful...in avoiding an expensive mistake.