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?

I assume you're asking him where he's located, but for sh*ts and grins, I'm in Wichita, KS.

IDEALLY, I'd find a stock, solid, clean, 1-owner, late-model 311 or 292 with low hours and NO ROT for NADA or lower. To this point, everything is a bit over.

I don't know who HE is, but I was asking you Keytime :D Just to get an idea of where you might be looking.
How far are you willing to travel, and are you hung up on fresh water only? I have to imagine you've seen the 311s and 292s that are down here in FL?

I'd really prefer a freshwater boat. I don't think I'd mind travelling to the coast to "pick up" the right boat, but to find out it's the right boat might be a PITA. I frequent LOTO, so that's where I'm looking most of the time. There are some down there, but like I said... still asking higher prices.
To answer your question, I've scoured most 292's and 311's that are on the net, so I've seen some of the FL ones as well. To be honest, I'm being very patient and doing a lot of homework to make sure I get the boat that's right for me, too.

And you see VERY few of them in this price range. VERY few.

Ok, here's a FL boat with buying potential. Mostly in freshwater, "looks" clean, 2 owners, low hours.

http://www.boattraderonline.com/addetail.html?88877591

He is an OSO member. His OSO name is Formula1.

Keytime:
http://www.offshoreonlyclassifieds.c...o16708-en.html
http://www.offshoreonly.com/forums/s...d.php?t=165808
http://www.offshoreonly.com/forums/s...d.php?t=165567

Thanks for the head's up, dgduck13 & handfulz28! I guess it's about time for me to chime in here!:D

Keytime, my boat is worth checking out. It's only been down here 2 years and for the last year and a half been indoors kept. Now, it's left kept as you can tell by the picture! I just had it's annual services completed in July (like every year) and she is turn key and ready to go (even has almost a full tank of premium fuel!). Let me know if you are interested. Very motivated to sell!