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NADA Values on Boats???

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Old 01-23-2012, 03:53 PM
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Originally Posted by Griff View Post
NADA values are not based on actual sales prices of used boats.
NADA just deducts a certain % of value each year based on the original listed retail price that they have somehow attained.
Wrong.

I wondered how NADA came up with their values a few months ago, so I emailed them to ask, and this is what they sent me:

Our values are derived from analyzing a variety of sources, including auction information, as well as analysis of economic indicators, geographic conditions, market trends and editorialize transactional data, to ensure it is reflective of what’s going on in the marketplace at any given time.

In addition, our advisory board members are comprised of over 250 marine dealers, brokers and surveyors across the United States. We find the most active and reliable members in these fields to provide us actual used sales information. We collect, review and editorialize used sales reports from our advisory board members as a part of our criteria to develop valuations.
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Old 01-23-2012, 04:05 PM
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BumSauce.... Nice!!!

A 33 and a 34 I was looking at, both were like 30k over nada!!! I personally feel the price that nada has listed for them i.e. 60k would be reasonable prices.

Reality check - Complete!

Thanks!
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Old 01-23-2012, 04:08 PM
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The values do show the disclaimer

Note: Vessels in exceptional condition can be worth a significantly higher value than the Average Retail Price shown.

The boat I bought recently I'd consider in exceptional condition for the year and I paid over NADA. And with the repairs and upgrades needed almost immediately after the purchase I have way more in it than NADA shows.

Last edited by Secret Formula; 01-23-2012 at 04:14 PM.
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Old 01-23-2012, 04:20 PM
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Here we go with Nada again. Nada is GUIDE book of values, not a rule book. I have always thought NADA was lower than what true value was on a lot of boats, and is more spot on with cars and trucks. Lately I beleive NADA has been closer to selling prices as the economy is more so people are dumping. NADA is more accurate on newer boats, I think as they get older NADA loses its reality and accuracy on older boats value.

But with that said NADA is factoring in location and a bunch of things. As for sale prices people dump a lot of money into exotic paint schemes and such which doesnt up the value and then expect a return on that10k paint job they got. Frankly right now a lot of people are hurting and need to get rid of their boats. They were foolish in buying something they shouldnt have from the start and put a 20 year loan on it so they could afford it, and on a 20 year loan you will be upside down from the day you bought it till its paid off, thus people asking what they owe.

Again NADA is a guid, it is a factor when I buy and sell, I use a combo of Nada, craigs, auto trader, boat trader,etc to come up with prices when i sell and have always been sucessful and have either gotten my money back off of toys or made money.
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Old 01-23-2012, 04:37 PM
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Most banks that do much boat lending use BUC values not NADA. I suppose your corner credit union will use NADA but BUC is much closer to actual values.

http://www.bucvalu.com/
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Old 01-23-2012, 05:59 PM
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banks use nada to determine loan value they will not loan a buyer over the value amount no matter of what improvements or updates done to a vessel
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Old 01-23-2012, 06:37 PM
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i know here in Jersey..when trading a boat they use NADA base trade without adding for anything and then deduct 15% and off you that for a value.
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Old 01-23-2012, 06:48 PM
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It's surprising that there are boats still listed for more than nada in this market. Anyone wanna give me high retail??? LOL
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Old 01-23-2012, 06:50 PM
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BUC and NADA are worlds apart on their valuations.

I know financial institutions will use NADA but brokers want to use BUC. Kind of begs the question, what is behind BUC???

Of course brokers need commission so are the BUC values geared for that?

Now that Key Bank is out shouldn't BUC be out????? If not, why not??

Last edited by aquaforce; 01-23-2012 at 06:52 PM.
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Old 01-23-2012, 07:20 PM
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Quote:
Originally Posted by aquaforce View Post
BUC and NADA are worlds apart on their valuations.
Just pulled the BUC value on my boat, and it seems to be almost dead on what NADA suggests, and also pretty close to what the market is.

I would still agree that the values they list on most performance boats are way out of line.
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