There comes a point where it doesnt make sense to upgrade your boat at all because when you go to sell, if you have the nicest boat of that make/model you can only ask so much before people spending x amount of dollars are looking at much nicer stuff..........maybe that doesnt make sense to you guys. Maybe this is a good comparison: Sinking $300K into a 1980's POS would be like building a 10000sq ft house in the projects and then trying to sell it. Where as sinking $300K into an old apache is a better investment, kind of like building a bigger house in a better neighborhood. Bottom line is you never want to have to be the highest priced in your market when other people look at comps.........
Often times with custom boats the NADA values can be way off for some boats. The difference can be the power packages which can vary quite a lot in price. A single 350 vs a twin 1075 would be a bizzare example. NADA prices work well when pricing a production boat with cookie cutter power. I do not think I have looked at the NADA value of any custom boat I have bought or sold as it really means so little.
I would not use anything out of those in this market.
Search what is for sale on boattrader.com, here in the adverts and a couple other sites and then start with the best priced for you with the power and shape you are looking for and offer, LOW...
I had honestly never even looked at any of these guides before, but I was surprised to see NADA has an entry for my boat!
"1981 CIGARETTE RACING TEAM INC 24
Low Retail: $3,020
High Retail: $3,400
Low Retail Value — A low retail valued boat will show excessive wear and tear either cosmetically and/or mechanically. This boat may or may not be in running order. The buyer can expect to invest in cosmetic and/or mechanical work. Low retail vessels usually are not found on a dealer's lot. Low Retail is not a trade-in value.
Average Retail Value — An average retail valued boat should be in good condition with no visible damage or defects. This boat will show moderate wear and tear and will be in sound running condition. The buyer may need to invest in either minor cosmetic or mechanical work.
Note: Vessels in exceptional condition can be worth a significantly higher value than the Average Retail Price shown."
The note at the end sums it up.
If anyone has any other 24's they are looking to unload, I'd gladly give them full retail book value
Check out the baja owners forum. There are a few on there for less than book value, and they're really nice rigs too! (None of which are mine btw, I'm just passing along info!)
bottomline..... take 10K to 15K off of LOW NADA nowadays. no matter how pristine/concours/perfect boat is. no matter how low the hours.
EVEN IF GOD OR BUDDAH OR MOHAMMAD OWNS IT-THATS WHAT THE MARKET WILL BEAR!
if you dont believe me look at the guy with the 2007 formula fastech 382 with twin 600SCI's. every known option known to man. 54hrs. concours condition a perfect 10. he cant sell it to save his ARSE at $189K on e-bay. booked out NEW at over 539K i think on the trailer.
its a sorry state of the economy and it will get worse before it gets better.
Blue book and NADA are a joke. I will say it again, the National Association of Automobile Dealears has no business telling us what our boats are worth. It really depends on where you are. In the south, the economy doesn't suck as bad as it does in the rest of the country. In this economy, in the boat/price range you are looking for, I found you may pay a little more than "the book" says if you want a clean boat that has been maintained, but then again, depends on who's selling. There a lot of things to take into consideration, for example, mine came with an all aluminum trailer that just had a complete rebuild (leaf springs, hardware, bearings, bunks, tires, etc....beats the hell out of a 10 year old painted trailer that is rusting out from the inside...add 3K right there.
and...every body owes more than they are worth. That's what happens when you finance for 15-20 years with 0 down.
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