NADA Values...

JonM81

Seaman Apprentice
Joined
Jul 23, 2003
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46
How much less should I pay for a boat valued on NADA?? I am looking to buy a boat from an individual, not a dealer. NADA gives retail value so should I offer 1-2K less than NADA on a $12K boat??<br /><br />Thanks
 

tommays

Admiral
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Jul 4, 2004
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6,768
Re: NADA Values...

It really depends on the boats condition how many of the same are on the market and were you live <br /><br /><br />In my area there are so many Searays and so many dealer rebates right now it hurts the value of the used ones a LOT<br /><br /><br />tommays
 

tashasdaddy

Honorary Moderator Emeritus
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Nov 11, 2005
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51,019
Re: NADA Values...

nada is an average, some boats in show room condition sell for more, and beaters for much less. most of the time with owners it all depends on how bad they won't to get rid of it. in the past year and 1/2 i been given 2 boats, because the wife was tired of looking at them.
 

delsol

Senior Chief Petty Officer
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May 27, 2002
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749
Re: NADA Values...

tough decision, if you were to buy a giant boat 30ft maybe now you can throw that book away because of gas prices , but sales is sales i was in the car business for a long time say you are looking for a nice whaler 17ft 1995, book says 10k great shape, you find one thats near perfect in a garage all its life and super low hrs and the owners retired and boat perfect..THEN YOU TAKE THAT BOOK AND ADD MAYBE 1000-2000 XTRA IF THE BOAT OR CAR IS UNREAL, ITS WORTH IT, HOW MANY ARE YOU GOING TO FIND LIKE THAT i would zero in what you want first..then worry about nada..where i live a guy has a 28ft bayliner i looked up avg retail, i know floatliner nada 10k he has newer trailer he says payed 5k. for boat needs some work less then 4k for boat motor trailer 3500.00<br />always rembemer book values are guides..i traded my cherry white 03 tLs 11k miles white acura in on a bmw good trade in was 18,400 every one wanted to give me 16k, cars in paper selling retail for 22-23k avg..i almost kept car but on the last day of the month after only looking at bmws i was really sick at the 6 dealers close bye no discout on their car and low money on mine, but the last day of the month i gave it one more try..and my car was mint...i got a new 5 series 3k off and 19 k for my car after all the other dealers wanted to give me 500-700 off on a 50k car the car has 4k markup..boats are a little different some have to get rid of them..but the cherry ones step up if you have too, while selling cars 15yrs ago guys who steped up on cherry really low milage cars and payed 1-2k too much got great deals and cars<br />bob/philly
 

Solittle

Fleet Admiral
Joined
Apr 28, 2002
Messages
7,518
Re: NADA Values...

I would give more weight to prices you get from the Boat Trader magazine or from Boat Trader on line than NADA. Even more depends on how motivated the seller is and how he sizes you up as a hungry buyer.
 

Tail_Gunner

Admiral
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Jan 13, 2006
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6,237
Re: NADA Values...

:D Take it from a used car manager in the car business NADA has little or no bearing on values.<br /><br /> Unless that is your buying NADA values are woefully underpriced, see if kelly blue book has values............ a very accurate guide.....very.
 

craze1cars

Lieutenant Commander
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Dec 26, 2004
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1,822
Re: NADA Values...

Originally posted by Tail_Gunner:<br /> :D Take it from a used car manager in the car business NADA has little or no bearing on values.<br /><br /> Unless that is your buying NADA values are woefully underpriced, see if kelly blue book has values............ a very accurate guide.....very.
Spoken like a used car manager....no offense meant. But since it's been brought up I'll simply state the other side of this comment to keep things balanced:<br /><br />Take it from a used car wholesaler and licensed auto insurance appraiser: Kelley Blue Book (retail) is woefully overpriced, and that particular guide benefits only the used car dealer becuase if he can convince the public it's remotely accurate, he can sell cars for more money. Even the insurance companies will scoff if you pull out a Kelly Blue Book retail value in an effort to negotiate your total loss claim. So do the courts, as I've witnessed KBB value thrown out in court more than once, usually based on KBB's very own disclaimer that's clearly printed on their values: "The Kelley Blue Book Suggested Retail Value is representative of dealers' asking prices and is the starting point for negotiation between a consumer and a dealer..." Hardly a statement of actual "value" unless you're the type of person who simply buys a car based on sticker price without negotiation....<br /><br />KBB's "private party" values are closer to acceptable, but still not very useful in the real world since there is no way to accurately track and document private party sale prices, so they're essentially made-up numbers based on classified ads and random surveys. Plus it is insanely subjective with 5 different "condition" categories to choose from with HUGE price swings between the ratings, and everyone interprets condition differently.<br /><br />NADA is OK, at least they use ACTUAL final sale prices reported by all dealers in their network to get their numbers, but it's still imperfect because trade-ins are very popular, and they throw a big wrench into most final deals and therefore fog the data, but at least is uses SOME real sale data, and is therefore probably the most accurate source available to the general public. Edmunds is another more helpful and often realistic site. But they only do cars, not boats. <br /><br />The short version of all that is this: Kelley more accurately reflects the average sticker price on a used car lot, NADA more accurately reflects the average final sale price from that same lot. Each person can decide which is a more useful number for themselves. <br /><br />And unless I'm overlooking something, KBB doesn't do boats so I don't think it will help this fella anyway.<br /><br />The reality is there is NO answer to the original question. Any particular boat/vehicle is worth exactly what you or someone else is willing to pay for it, and what the other party is willing to sell it for. Any given guide might get you in the ballpark, but beyond that you need to let your wants/needs, condition of the rig, and your gut tell you how much to pay in the end. The number agreed on at the time of the handshake is the most accurate value you'll ever know...
 

delsol

Senior Chief Petty Officer
Joined
May 27, 2002
Messages
749
Re: NADA Values...

yes i agree somewhat,but lots of banks use nada to make sure you are in the ballpark for a loan on a used car...in pa. and in fla..thats a fact..boats differ alot market cond.s but if you want to buy a car to keeo a long time and you see one like my 03 white acura tls 12k miles showroom cond and both books avg are say 18k you more then likly will have to step up on a clean car and make a deal..tailgunner no offence but i was selling toyotas in fla 5yrs i made top 25 in a five state zone 25-30+cars month 7 day weeks sometimes..i been ripped off by used car mgr. lots of times in 2 cases i went to the gm and he let me buy 2 of the cars because they were robbing the car..while neg. tough deals with bmw/german cars trading in, not to often, but i would get a nuber from my mgr..we had a few some great some bad..acv would be really off, because i was top dog there and could come and go as i pleased..lots of mgrs in fla dont last long at most dealers, they would let me drive the car or call someone in to get a buy figure on the car 99% of the time it was much higher then our place..lots of times i would get a mini deal on new car and used cars would get a 3 pounder on used car if thats the case either used car saleman was really good or very bad acv.. i tryed mgr. made good money but much more selling with no headaches..this was at p.b toyota in87-92 over 100 used cars sold month and over 200 new..some sat. we would spot 40-50 cars i went threw 1 gm a year on avg . so if you are in a good dealership like here in pa things might be different...i seen it all, scams/fraud/salavge cars with good titles. co signer that died or were dead my 2 cents
 

delsol

Senior Chief Petty Officer
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May 27, 2002
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Re: NADA Values...

or yes we had our black book weekly
 

delsol

Senior Chief Petty Officer
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May 27, 2002
Messages
749
Re: NADA Values...

to so little i drifted off the topic too much but in miami , you and i know, mia. ft.laud you can get great deals on big boats. i agree about boat trader..but i have a place in wpb. and phila..up here now try and buy a trailer for a twenty foot boat cheap????or even an 18ft single axle no brakes 1200 used here in wpb.. you may find one for $500 outboards forget about it, they are insane used .. also in fla. looking for a trailer for a 22ft boat its easyier to get boat motor trailer pkg cheap and junk boat for trailer. my 2 cents<br />bob
 

Tail_Gunner

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Jan 13, 2006
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6,237
Re: NADA Values...

Originally posted by tommays:<br /> It really depends on the boats condition how many of the same are on the market and were you live <br /><br /><br />In my area there are so many Searays and so many dealer rebates right now it hurts the value of the used ones a LOT<br /><br /><br />tommays
;) Very well said, Everyone has a opinion on a value of there car (or boat) and you might be surprised to learn there all different. However as stated above if the market is saturated well that changes the dynamic's.<br /><br />I'd venture to say if you first selected a mfg and model did a quick price average in you area, then use nada and see how much of variation in pricing there really is between the actual market and some book which is giving you a average you'd be able to find what you are looking for.......... If it Feel's reasonable buy your boat and get on with life..... :D <br /><br /><br />Hmmm lots of Searay's there.......... maybe a raod trip is in order. :D
 

delsol

Senior Chief Petty Officer
Joined
May 27, 2002
Messages
749
Re: NADA Values...

the more new ones at the dealership the bigger the rebates get or money to the dealer gets..which sometimes on an 18ft boat it may be the same price new as a guy selling a nice 2 yr old model<br />bob
 

whblaylock

Seaman Apprentice
Joined
Sep 6, 2005
Messages
46
Re: NADA Values...

Jon, use NADA and any other guides only as another source of price. The value of what you are buying is pretty much set by the market you are in plus condition. Great condition always brings more $ but location is a huge factor. Factor in sellers unique situation and motivation to sell, compare it with several weeks of internet and local research and you will know if you have a great deal vs a normal deal for your area market. I focused on one boat that I knew I wanted last yr and spent over a month searching every source of used boats that I had at my disposal and could not find one for sale. After several weeks of diligent searching I found one hidden under an ad that just said 24' pontoon. I took a look and there it was. It was on ebay and the bids were about half of what I had determined would be fair mkt value. I ended up buying it for close to half. I may never sell it for what I think it is worth but I know it will never be worth less than what I paid for it providing the condition or my motivation doesn't drastically change. wh
 
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