Advice on purchase
 

Looking at a 1998 Checkmate Convincor 251 with a 500 hp. 200 hours on package. Asking price is 31,500. Boat Blue Books at 25,000. What do you guys think?

I'm a Cigarette guy, but in my opinion in this market this sounds like tall money. Even the Blue Book sounds blue sky. Most banks don't even loan money on boats over 15 years old. Have you posted this question in the Checkmate owners forum of OSO?

The one that seylee has? I'd offer $22k

Might want to check the year and model- for some reason I thought the 251 was an older model- 1993??

If it is 98' 253 with one of the mpi motors I'd offer 10-12,000, with the HP500 maybe start at 16,000 and work your way up.

Start at $16K and don't go over $19K. Personally, I would find a 2003 year boat with less hrs for $23K.

blue book isnt everything on price specially boats, to me its more of a starting point. I just did a quick search and average from what I have found of that age was right around 23-25k. So Yes I would think 31 is high. Your best bet is to do market research on 2-3 like boats in your region and get an average price and then go check the boat out. I would guess the guy probably has 31 on it and wants anywhere from 25-28 on it, which at 25 if its nice wouldnt be to bad. If a boat is really nice and then it would command a premium but probably not a 31k premium. The boat market specially high performance is not what it once was, but I also dont think its the give away market like it was 2-3 years ago. Personally if the boat is in tip top shape I think under 20k is a bargain, priced right would be 21-25k.

You also have to look at the market around you. Up here not a whole lot of performance boats for sale, so its kind of a sellers market as theres not a whole lot out there unless you want to travel hours away or even out of state, which is find if you find the right deal, but theres an ace pain and cost associated with that. Blue book on my fountain says 17k, which if I were to put a for sale sign on it I would start it probably 10 more than that, because after checking the market there isnt a running fountain for sale that is going less than about 22-23. So it all depends, if a boat were to sell at blue book and assuming its in good shape I think it tends to favor the buyer on price a little more than the seller.

I tend to agree with you Soldier. The cheaper boats of this year tend to be wet and abused. The bank is willing to lend $26130 on the boat. Boat has the Blue Motor, Hydraulic steering, Tab Indicators. If it had the 502 MPI I wouldnt give more than $19000

I also tend to beleive Blue book, Nada etc are in bed with dealers, and their prices reflect what dealers want to buy things for trade in. Although these Blue books do differ with trade in values and sale values, but I still think they favor dealers.

This a Special Edition boat. They brought the mold out of retirement for 1 year and produced 18 of these boats in 1998

I offered the Dealer $26000. He laughed and told me he had another buyer and the boat would be sold by the weekend !