For Sale: Need Some Opinions

[eliminator190]

I Listed my boat to sell at the end of last season. NO luck...Lots of emails and phone calls, no buyers. Ive had trade offers for everything you can imagine. NOt one single person has even come to look at the boat. My asking price is $45,000. Is this price insane? Ive seen the the same boats listed from 25,000-55,000. Maybe a broker? I dont want to trade up,I can only imagine the ass pounding I would take. Any Ideas?

[eliminator190]

int pic

[eliminator190]

cockpit

[eliminator190]

pic

[eliminator190]

1987 311,420's,TRS, 550 hours. Turnkey boat.

[chuck21401]

Looks like a very nice boat. One of the things that I have found is that you can only get a loan for 85% of the book value. When I spoke with my bank they named NADA and another source that I've never heard about. Just for fun I looked up this boat on NADA. I'm not saying that that is what your boat is worth, probably not the case, just stating what I've found (and you have a trailer to boot). The problem is that a buyer needs to come up with cash which weeds out many potential buyers. At the same time a boat is worth what someone is willing to pay for it. Perhaps the market for someone looking for a 1987 formula is small? I dunno

Also, where are you located?

Chuck

***********
THUNDERBIRD/FORMULA
1987


Length: 31'
Model Name/Description: FORMULA 311 SR-1
Boat Type: Stern Drive Power Boat
Hull Material: Fiberglass
Beam: 8'
Engine: 2
330 HP
Gasoline
Net Weight: 7,400
Low Retail: $20,200
Average Retail: $24,950

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Reported Engine Range: 401-500 HP
Total adjustment for your engine(s) - Add: $1,120

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Totals
Total Low Retail: $21,320
Total Average Retail: $26,070

[dockrocker]

NADA is generally crap on boats - they use a straight depreciation formula that has little to do with actual selling prices.

BUC values are generally more in line with reality as they are based on actual selling prices (I believe).

That being said, what are the details on your ride? I'm guessing 454's and TRS drives. So you've got old carb'd motors (how many hours? Original motors? Rebuilt? Stock?), TRS drives (which scare a lot people). Your boat looks clean, but it's still 17 years old. And there are a fair number of 311's for less money as well as a few 357's for less or just a bit more $$.

Unfortunately, the market for performance boats is tight and even moreso for older boats. Banks are less willing to finance older boats but as the economy picks up that should change.

That being said, when you lower the price to $35K, let me know

[chuck21401]

Originally posted by dockrocker
NADA is generally crap on boats - they use a straight depreciation formula that has little to do with actual selling prices.... that being said, when you lower the price to $35K, let me know

And I don't disagree with you....my point was that some banks use those numbers to determine how much they will loan someone therefore getting a loan for the full $45K asking price would be tough to do.

[dockrocker]

From BUC....

THUNDERBIRD PROD CORP (FORMULA TWO), DECATUR, IN,
Model Year 1987 Hull Material Fiberglass
Model FORMULA 311 SR-1 Hull Configuration Deep Vee
Length Overall 31' 1" Draft 2' 10"
Length On Deck Beam 8'
Boat Type Offshore | Open Weight 7400 lbs.
Engine Type Inboard-Outboard
Twin 420G
Mercury Marine/Mercruiser Ballast

Retail Price Range:* $42,600-$47,300

Please see the vessel condition table below, to determine how condition affects market value.

So it looks good in the book; of course the ****ty part is that books don't buy boats

I'm definitely going ot look for a 311 or 357 when we're in the market, but I'm not ready financially. Good luck!

[offthefront]

Dockrocker is right ....Troy the thing that eliminated your boat was the TRS drives ...I Know ..alot of people say they are fine ...( they all have them) ...but have also been told its just one more thing to maintain and harder to repair ....the one I am buying is an 89 ....has 2 jasper motors ...20/5 hours ....the surveyor reported 9/10 across the board .....