NADA boat values out of whack?

[swcolorado]

What is up with the prices people are asking for boats?
I know it's the beginning of summer but most of the prices I see are $5-6k over what NADA lists as average retail.

There are very few boats I'm seeing that look like they are priced reasonably.

I'm typically searching craigslist in AZ, CO and NM.

Do people just not want to sell their boats or is NADAguides not an accurate value for used boats?

I'm typically looking at 1998 and up 17' - 20' bowriders.

 

[JB]

Re: NADA boat values out of whack?

NADA "values" have no relationship to market values. They are calculated on a straight-line depreciation formula with no corrections for location, season or condition.

For example, if you can buy any 20-30 year old Boston Whaler for even double the NADA fantasy you have stolen it.

 

[Gary H NC]

Re: NADA boat values out of whack?

I agree.....the boats in this area are way over priced..
I see mid 80's model bow riders and they are asking 6 or 7k for them..insane!

Those ads are on the listings week after week.

I do know a couple people who got great deals on larger boats.
One was a 27 ft Wellcraft pocket cruiser,90 original hours,2002 model and the guy gave 9500 for it.
I checked it over and it was in great shape.
The seller had just bought a bigger boat and needed it out of his slip.
Wish i would have spotted that one..

Just glad my old boat is paid for and runs well....

 

[tashasdaddy]

Re: NADA boat values out of whack?

a lot of them are owners who are upside down on the loans, they owe more than the boat is worth. more of that liberal financing.

 

[superpop]

Re: NADA boat values out of whack?

anything on the planet is worth whatever someone is willing to pay for it.

 

[salty87]

Re: NADA boat values out of whack?

Indeed! The sad part is, many dealers "helped" these folks get loans and are now paying for their short sightedness.

can't blame the dealer when someone comes in wanting the new fancy toy. they claim they can make the pymts, they sign the deal.

caveat emptor....buyer beware

spend some time becoming an informed buyer and it will pay off.

 

[bhammer]

Re: NADA boat values out of whack?

All good points. One that I didn't see mentioned is that often times, people try to sell their boat for what the OWE on it, not what it is worth.

I have a buddy who has a 63K loan on a cruiser that he could only sell for, at most, 55K but more like 50K based on other comparable sales. He is asking 63K for the boat and states that is what he owes and will not take less.

He has had one call and look and several email offers. He has tried throwing in all the extras, a full tank of gas and anything else but no takers at the price. the best he has gotten was 56K.