teach a guy how to buy
 

Tell me how to reason prices on boats?

For instance what does NADA mean to boat prices? I have looked at a few boats that the owner is asking 25K, i look up NADA and its like 17K.

So should I not pay over NADA or should I just ignore NADA and look somewhere else for the true value of the boat?

Teach me

I personally do not give any weight to NADA, it is never a good measure in my eyes. In today's market, boat prices are much less as far as actual sales than they have been in the past. Look aroud to see what other similar boats have SOLD for, compare condition and accessories, get a survey and pay a reasonable amount based thereon.

Depends on hw old the boat is. Add up the rigging, divide by half. THat is how much the parts are worth. Then figure out what the hull is worth.

Then you have a fair value.

The NADA prices are overinflated for the current market; but so is every value tool available. The market is screwed up right now. You have to do a lot of research. If you know what boat you want, look at every available website that has that type or brand of boat for sale, OSO of coarse, Boat Trader On Line, I-Boats etc. Then build a low, avg. and high price mark for the boat. My experience right now is that most boats are selling towards the low end of all the listings, assuming the boats are somewhat similar in engines, options and condition of the boat. Most boat sellers are aware of the market and are willing to sell for a very reasonable price....assuming they really want to move their boat right now. You can be aggressive, but just don't be ridiculous with your offer.

GOOD LUCK!

NADA is over inflated right now? Are you high or just lapse of reasoning even in todays market nada isnt close.
-Mike

when I was shopping I never once even looked at the NADA. You have to look around and figure out what you think is a fair market value....

Take your time see what similar boats are selling for. Go look at the boat you like, if its in crap condition subtract 20-50% if its in great condition offer 10% less. The biggest part here is see what others are going for. Some guys think their chit is floating gold, some is just abused crap they want to dump on a unspecting fool. Find a guy in the middle, like someone who already purchased another boat and now doesn't have room in his climate controled garage for old and new.

NADA is way too high on a lot of boats and way too low on a lot of others. All they do is deduct a % of value every year. NADA says my boat is worth 39k plus about 3k for the trailer. Even in this market, its worth about 20k more.

Remember that NADA does not include the value of the trailer. NADA also does not consider a lot of options and/or does not value them correctly.

this is my idea.. set a buget price. be patient. be willing to travel. don't be afraid to walk away. fresh water only is better in the long run. you will know when you find the right one. took me 7 months to score a beauty after alot of shopping. my boat almost looked brand new and was 7 years old when i bought it. not a nick or piece of dirt on it anywhere. ran perfect and all that good stuff. actually became friends with the origional owner. hope that helps.. ;) mark

And on the other hand, NADA haas my boat valued at around 12K. but I wouldnt take less than 20K for it...if it was for sale. Buying anything used is a little like Russian Roulette anyway, even if you look it over well. Just tell yourself you may have to spend some more money on it after you pick it up and use it awhile...and if you don't have to...it's a bonus!