Nada
 

Does any one use NADA prices to sell and buy boats. I guess what I am saying, are these figures about what a boat should cost at fair market value. It is time to upgrade and I am tring to put a price on the boat. For sale and to buy. How do you know when you are paying to much for a used boat? How far over book value should one ask for a super clean boat?

Russ

I have seen this too. I can see 10% or 15% for something clean but some are 30% 40% higher. Buy low sell high. Pay for your new boat.

I think NADA actually uses a straight depreciation formula to come up with their prices. Not sure if they take into account other factors like fresh v. salt, long season v. short season, the "value" of a nameplate or particular model, etc.

Yeh, you would think that fresh vs. salt should make a huge differance.

NADA prices are based on national averages for boat sales. Forget about High retail! We use a program by ABOS on the PC. It is more accurate than NADA, but is only available to dealers. There are adjustments for condition, hours and options to consider. Freshwater boats will draw more as well.
If you need a number on a specific boat, let me know and I can come close for you without seeing it.

All the dealers use the ABOS book or software. It is more in line with what the boats sell for. I went around offering the NADA value on some used boats a few months ago and it pissed some of the people off. I dont know about other brands but Fountain sells for more than the NADA book lists it for.

Ron

Thanks Strike,
Lets see what you come up with.
89' Formula 223, 7.4, fresh water boat, clean, 500 hrs., to sell

89' Formula 272, 7.4s, fresh water boat, 300hrs, clean, to buy

90' Formula 272, 7.4 360 hrs., clean, fresh water, to buy

Thanks Russ

Remember, These are averages!
 

Low Wholesale High Wholesale Retail

89/223 $16,212 $19,396 $24,102

89/272 $22,915 $29,462 $36,533

90/272 $26,730 $33,858 $41,645

Remember, by low, sell high! Good luck!

NADA
 

I noticed when looking for my Donzi that NADA seemed low also. I think they only publish the price for a boat equipped with standard power. They listed a 97 Donzi 18 Classic at like $16000, but the NADA site also stated 260hp. 260hp was as low as you could get. My boat has a 350MAG MPI and Bravo One. That's a pretty expensive upgrade from the standard 260hp/Alpha. When looking, I just had to learn to compensate for options and equipment. Randy

The figures I gave you are already adjusted for engine upgrades and low hours.

Thanks Strike

What about the trailer does your program include this on used boats.

It kind of makes you wonder what the NADA is for. I have seen others, I think it is BUC values or somthing and thay seem to be in the middle of you and the NADA. I wonder if the dealers just use the highest formula they can find. Sure wouldn't blame them. Buy low sell high. I mean if they all say they use the national avg. who is telling the truth and who is full of bs. I wonder who the bank uses to value boats for loans?

Russ

there is a window that allowes you to upgrade to available HP on the NADA site.

ABOS allows you to ad a trailer upgrade as well as the NADA book. You do need the specific model to be accurate.
Certain areas of the country can draw more money for boats, but not ours. It seems that the mid-west is the highest. It depends on ecconomic status for an area, at least it seems that way.

Strike,

Thanks for your input. It's best to be as educated as you can be when buying a boat. I sure don't want to totaly lowball somebody but at the same time there is no way I would buy over book and go into nagative eq. right off the bat.

:D NADA, BUC, BLUE, and NATIONAL are all guides. "Only", and not to be taken as fact. As you fella's mentioned, there are many other conditions to be considered when making a valuation for a purchase.
A boat purchase to most of us will be the second largest next to a home or auto. These types of decision's need to be well researched. As a professional in this field, I do look at the books. However I also look at that particular vessel with great scrutiny, not my heart.
Then I do a thorough market search and find many comparables. Also a look at replacement cost, and manufacturuer history. After all this is considered the economy comes into play.
Now place a value on the item.
My recomendation would always be to hire a surveyor pay a few buck's and see the true story !
Remember "BUYER BEWARE" :eek:

Here's what NADA says about it's values on boats:

Value Explanation — N.A.D.A. has been collecting, analyzing, and publishing used values since 1933. The retail values listed are a guideline for appraisal purposes only. These values should be used strictly as a reference source for valuing used vessels. It is not, and should not be considered absolute. The values are a reflection of the boats condition and popularity. It may be necessary to adjust listed values to meet market conditions in your area. While on line values are similar to other N.A.D.A. published values, these values are intended for retail consumer use.

Low Retail Value — A low retail valued boat will show excessive wear and tear either cosmetically and/or mechanically. This boat will require cosmetic or mechanical work and may or may not be in running order. The buyer can expect to invest in cosmetic and/or mechanical work. Low retail vessels usually are not found on a dealer's lot.

Average Retail Value — An average retail valued boat should be in good condition with no visible damage or defects. This boat will show moderate wear and tear and will be in sound running condition. The buyer might need to invest in either minor cosmetic or mechanical work.


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


Note the last paragraph here...

Ted

I sure "hope" NADA is low, but BUC is smoking something. NADA lists the Formula at $30-38k, BUC at $82-90. If anyone from BUC wants to stop by tonight I'll have the keys ready :D

-Greg

Ok, so we all say NADA is low and only gives average retail. If you go to BOATS.COM they use a form of NADA that gives a higher value than average retail. They call this high retail and was much closer the (average retail) BUC values. Buc gives a window for average retail and then states.

Condition
Number Often Called Description Percent to be added or subtracted
1 Excellent (Bristol) Maintained in mint or bristol fashion-usually better than factory new-and loaded with extras-a rarity Plus 15-20%
2 Above BUC condition Has had above average care and eqipped with extra electrical and electronic gear Plus 10-15%
3 BUC Condition Ready for sale requiring no additional work and normally equipped for her size No Adjustment Necessary
4 Fair Requires usual maintenance to prepare for sale Minus 10-20%
5 Poor Substantial yard work required and devoid of extras Minus 25-50%
6 Restorable Enough of hull and engine exists to restore the boat to useable condition. Minus 50-80%


The boat I am going to bid on is a 1990 Formula 272 7.4s vary clean, no extra electronics other than standard. I would put this boat in group 2.
So BUC gives a window of:

retail 30,400 to 33,700 USD
I believe the boat to be in group 2 + 15% of 33,700 =5,055 = 38,755 for a high price.
10% of 30,400= 3,040 = 33,440 for a low price

33,440 to 38,775 does this sound like what this boat is worth.
If it was your boat would you be insulted with an offer in this range.

Russ

Ted,
What would you consider to be significantly higher?

Russ