Used Formula prices.... are NADA values good starting points?
 

Just wondering....do the values in NADA reflect appropriate levels? Are there other guides to help decide the worth of used boats?

Re: Used Formula prices.... are NADA values good starting points?
 

the banks are using the buc book, my boat came in $14,000 lower than nada guide

Re: Used Formula prices.... are NADA values good starting points?
 

I would agree, NADA was high on mine, they had it at 55, ABOS from a dealer had it 40-42 for avg retail. I guess its all in the deal as to what a person can afford or at a dealer, how much they want to over allow to get you into the new boat.

Re: Used Formula prices.... are NADA values good starting points?
 

NADA is at least 20% too high on everything.

The "spread" is even wider on trade-in values.

I think it's basically worthless, but then you usually get what you pay for, and NADA is free.

Re: Used Formula prices.... are NADA values good starting points?
 

NADA is quite high. I just bought a Formula for 75% of "average retail". Try to find as many comparables as you can and figure the selling price would be near the bottom of that scale. Most of the higher priced models are people who are unrealistic in their price and not really looking to sell anyway.

Revamping this old thread....

I'm looking at late 80's 311's and 292's and finding that people are typically asking WAY over NADA. Has this trend changed in the last few years? Thoughts?

Thanks.

my buddy just sold his 87 311 with 420's ( engine option) for $35,500 with manning trailer. excellent condition 600+ hours


I sold my 88 272 last fall for $29,900 with manning trailer. 410 hour , excellent condition

both fresh water boats, with nothing needed done on them

if this helps any


Ramb

Sell in the summer, buy in the winter.
The "key" is that those people ASK over NADA, and those boats don't sell for those prices. I was in the market last year, and the boats that I thought were overpriced, are still for sale.
And when you get into boats that have been repowered/upgraded, you can pretty much throw out all the price guides.
Don't forget to include '90-91 if you're looking for SR-1s. Good luck :D

For a 1987 Formula 311 with the following options:
(first price is low retail, second is average retail)

Base Price
$18,450 $20,750
Reported Engine Range: 401 - 425 HP (8.1L)
Add $6,000
Options
Power Boat: CANVAS
Cockpit Cover $160 $185
Power Boat: ELECTRONICS
Battery Charger - Dual 10 amp $95 $110
Power Boat: ENTERTAINMENT
Stereo - am/fm CD player w/4 speakers $160 $185
Power Boat: GALLEY
Refrigerator - AC/DC - 6 cu. ft. $285 $325
Power Boat: MISCELLANEOUS OPTIONAL EQUIPMENT
Batteries - Dual w/Switch $85 $95
Porta Potti $70 $80
Propeller / Stainless Steel (3-Blade) $155 $175
Swim Step - Fiberglass $115 $130
Trim Indicator $60 $70
Trim Tabs / Hydraulic $260 $295

TOTAL PRICE $25,895 $28,400

Figure in the trailer cost and there ya go. Probably a little high for a used trailer in that case. And $6k for the engine option sounds steep, but maybe it's close?

This is just me, and I do everything I can NOT to pay "retail"...but other than the engine option, I don't check off any other options.
If the boat has 420s, then it's a TRS boat. The 420s are good motors and worth a premium if all is original (ok if rebuilt) and in top condition. At 20yrs old, not only would the boat need to be near perfect, I'd probably actually want some stuff to be upgraded (stereo, dash, steering, ???). An "all original" boat in that age range is just begging for stuff to be replaced.
I'd say $25k pending survey/condition; you can get a good new aluminum trailer for $5k or less, steel would be cheaper.
Where are you located?