Like Tree0Likes

Used boat prices....how they holding up??

Reply
Old 01-14-2008, 08:39 PM
  #11
Gold Member
Gold Member
 
omerta one's Avatar
 
Join Date: Apr 2006
Location: LOTO
My Boats: 2009 Lip-Ship Gladiator; 1995 Cig 20
Posts: 2,865
Default

Quote:
Originally Posted by Donzi 26zx View Post
Yes I belive the people out there are upside down on there boats, or dont know the real Value, I cant get a deal from anyone, and I am trying, and yes Frank, you got a great deal from me I should have just kept the boat.
What are you looking for?
omerta one is offline  
Reply With Quote
Old 01-14-2008, 09:34 PM
  #12
Registered
 
Join Date: Sep 2003
Location: Here and There
My Boats: 36' Apache
Posts: 1,831
Default

Quote:
Originally Posted by ThoroughHustler View Post
Nada is just a guide I rarely use it when im apraising used boats. The Market is generally what people are asking for that make size and model.
I'm not a boat appraiser/surveyer but I would say the market is what people are paying for boats rather than what they are asking. Bongo, I would say people are just dreaming and they are totally upside down because they bought the biggest boat they could get a loan for.

With respect to NADA and all of the boxes to add options, I think that is a bunch of BS. When I was shopping there was one particular boat that I looked at and gave an offer with deposit and the broker scoffed at my offer. The broker actually had the audacity to email me an NADA list with every box for options checked in order to get him to his asking price. This included things like K-planes and verious other options that are standard equipment on a 36' performance boat.

I began to discern motivation on the part of sellers and how much they were in the boat for and whether or not they were willing or able to take the hit necessary to see the deal through. Persistance does pay off.

Good luck and I will keep my eyes open!!
baywatch is offline  
Reply With Quote
Old 01-14-2008, 09:55 PM
  #13
Platinum Member
Platinum Member
 
fountain4play's Avatar
 
Join Date: Jan 2007
Location: Omaha - LOTO
My Boats: Nor-Tech 3600 SuperCat "Suppression"
Posts: 1,386
Default

Quote:
Originally Posted by Donzi 26zx View Post
Yes I belive the people out there are upside down on there boats, or dont know the real Value, I cant get a deal from anyone, and I am trying, and yes Frank, you got a great deal from me I should have just kept the boat.
I know the market is soft, I've had my 29' for sale for a while and haven't received too many real offers, but if it doesn't sell by summer looks like the wifey will get it.... she really would like a small cruiser but I don't need four boats....LOL

I would like to sell it but it's not just in dry storage and not costing me anything but insurance and storage...
fountain4play is offline  
Reply With Quote
Old 01-14-2008, 09:56 PM
  #14
Registered
 
Join Date: Jul 2004
My Boats: 1997 Buick
Posts: 193
Default

I vote for patience. My thinking is there will be a correlation between the burst of the housing bubble and great deals on used boats. The home values seem to be "sticky" on the way down, boat prices might be "sticky" as well. But in the end I (and I am often wrong) think reality will prevail.
towhead is offline  
Reply With Quote
Old 01-14-2008, 10:15 PM
  #15
Registered
 
NASCAT's Avatar
 
Join Date: Aug 2003
Location: Charlotte, NC
My Boats: 2017 Nor-Tech 340
Posts: 2,684
Default

A local dealer here in NC said they normally offer 10-20% below NADA or BUC for trades b/c those guides tend to be a few months behind the actual market by the time they go to print.

Of course they failed to metion how they respond to that same formula when one wishes to buy a used boat from them!!
NASCAT is offline  
Reply With Quote
Old 01-15-2008, 09:31 AM
  #16
Registered
VIP Member
 
berns29scarab's Avatar
 
Join Date: Jul 2004
Location: Brick, NJ
Posts: 6,969
Default

here in Jersey...dealers use NADA trade less 20% when appraising a boat. boat market right now is similar to the housing market...people are burried (especially those that bought new) rates are up slightly over same time a year ago and the market is on a decline.
berns29scarab is offline  
Reply With Quote
Old 01-15-2008, 10:14 AM
  #17
Registered
 
fund razor's Avatar
 
Join Date: Mar 2004
My Boats: Apache 28 Brave
Posts: 8,170
Default

Quote:
Originally Posted by towhead View Post
I vote for patience. My thinking is there will be a correlation between the burst of the housing bubble and great deals on used boats. The home values seem to be "sticky" on the way down, boat prices might be "sticky" as well. But in the end I (and I am often wrong) think reality will prevail.
I think that boat values are dropping in my region quite fast because it's one of the largest assets that someone has that can be pulled to a different region. You can't move that house that you can't sell in Michigan. It's stuck right there. So, what do you sell? The boat.

There is a very nice 35 foot Mistress sitting south of Detroit for 39k with trailer. A few years back that would have been the price for the hull. This is fully rigged and ready to launch.
Crazy.
fund razor is offline  
Reply With Quote
Old 01-15-2008, 11:04 AM
  #18
Registered
 
copiercat's Avatar
 
Join Date: Feb 2005
Location: nokomis florida
My Boats: 22 Talon 300 XS,97 Ocean Express 33 Super Sport/ 04 STV Euro / 30 ft Pro Line sport fishermen-21 Shadow 300 XS-24 ft Party Barge
Posts: 404
Default

I've got 2 boats for sale, my ocean express cat and a 30' proline sport fishing boat, no activity on either one and i believe their priced fair and below nada. Im beginning to believe that their worth more in parts than in whole,reminds me of a movie with danny devito that bought companies and parted them out !!
copiercat is offline  
Reply With Quote
Old 01-15-2008, 11:26 AM
  #19
WMF
Platinum Member
Platinum Member
 
WMF's Avatar
 
Join Date: Sep 2007
Location: Millsboro, DE- Cape Coral, FL
My Boats: 2008 Cigarette Top Gun Unlimited
Posts: 1,613
Default

I wish I could get a good deal on a Apache 28 or a Pantera 28, thier are some good Pantea's out thier bit I think prices are a little high, compared to the market
WMF is offline  
Reply With Quote
Old 01-15-2008, 11:27 AM
  #20
Registered
Thread Starter
 
Von Bongo's Avatar
 
Join Date: Dec 2001
Location: Iowa - Missouri
My Boats: 1997 Cig Kevlar - powered by Boyd
Posts: 3,904
Default

I'll keep shopping. I think NADA just gets you in the ball park and I also compare it to BUC value which is what we used when we loaned on boats. Seemed to have the closest value. Also look to see what the average price is for listings.

Now I can understand asking $250K for a 20 year old apache, there aren't many around. May not get it but would be a lot more likely than a production boat that there are 20 other of the exact same model for sale competing.

I guess I just expected to see prices take about a 20%-25% drop from last years asking on used boats. I figure not including the first year that a boat loses about 8-10% a year from the prior years "values" until the boat gets about 10 years old then levels off. Given the economic state of the union I was figuring another 10% to get something moved or about 20% less than last years asking price. So a boat priced at $150K, that didn't sell at that price last year would need to be around $120K this year to realistically move it.

Again this is on a common boat that at any one time there are 10-20 of the same model for sale for a more limited model I can understand not quite the hit.

Am I way off base on this?????
Von Bongo is offline  
Reply With Quote
Reply

Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
nova26
General Boating Discussion
79
06-11-2008 06:27 AM
Jupiter Sunsation
General Boating Discussion
19
08-24-2006 09:42 AM
CAP071
General Boating Discussion
85
01-20-2005 08:33 AM
mopower
General Boating Discussion
10
08-06-2004 04:32 PM
fatdaddy
General Boating Discussion
3
02-18-2003 02:49 AM



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 04:04 PM.


Copyright 2011 OffShoreOnly. All rights reserved.