NadaGuides & BUCValu differences questions ...

[Hai Nhi]

Listen to some of you here, I just subscribed BUCValuPro in hope to be more informed on fair prices on boats in my search for my "true" first boat (one that I would keep for a long time. hehehe)

I thought BUCValuPro is better, and would give me a chance to enter all the options (like canvas cover, radar arch, windlass, generator, etc...). But it doesn't.

Now that I have access to this info, how do I determine fair market price?

Take 2002 Sundancer 280 T4.3L for example:
+ Nadaguides with all the options (windlass, electrics, bimini & cover, enclosure, generator):
Low Retail: $43k, Average Retail: $48.8k
+ BUCValuPro just asks me for model & year with engine configuration:
Price range: $36.8K - $40.9k, adjusted for my area: + $3k
+ Searches from Yachtworld.com & Boattrader.com in CA:
Average listings from 2001-2003: $45k asking price
+ I don't have info from soldboats.com.

So, based on these information, what would be a fair price to buy? Would a 5-10% lower on that "fair" price point be a great bargain? or only good bargain?

I know it's just in general, but I'd just wanna have a feeling on how to apply these number guides from the 2 sources I have.

Nhi

 

[tpenfield]

Re: NadaGuides & BUCValu differences questions ...

Based on my use and gained understanding of NADA versus BUC, here is what is going on . . .

As you stated NADA is higher than BUC for the boat in question. . . I did similar comparison when I was looking for my Formula Sun Sport. Here is a graph the I made of the values of a 280SS w/ twin 5.7 Mercruisers Bravo 3 (click image below to view)



The Green line is NADA for the various years . . . The Blue line is BUC. On newer boats, NADA is higher than BUC and likewise, BUC is higher on older boats. It looks like 13 +/- years of age is when NADA and BUC are about the same.

The data that you have is consistent with this. Keep in mind that NADA is more of a depreciation schedule, than a market value tool. BUC seems to be truer to the value over a boat's lifetime.

So, for the boat that you are considering the NADA values are high (as the boat is newer than the 13 year intersection point).

The BUC values are probably more true, as evidenced by the asking prices. BUC only gives a range . . . a well optioned boat would tend to be at the top of the range and a bare bones boat would tend to be at the bottom of the range. One thing BUC has better granularity than NADA is on the condition of the boat.

Based on the information that you have, it looks like something around $40k is a fair selling price for a good condition, decently optioned boat. NADA would put you 10-20% higher than those figures. So, BUC seems to be the better tool, which is what I found

When I was looking at my boat(s) NADA was lower than or about equal to BUC, since the boats that I was looking at tended to be 13 years or older. In all cases the BUC value tended to be the better figure.

There are too many variables about a boat's condition features, options, etc to say what would be a bargain, but you will probably develop a 6th sense about it as you consider various boats.

Also, it is good to understand how boats sell . . . they usually sell from the bottom of the price range of available boats and the ones in better condition are the ones that sell in those price ranges. There are exceptions, but this is a general guideline. So, if you are selling and you have a boat in good condition and you are at the low end of the price range versus comparative boats, you will probably sell your boat.

Those are my pearls of wisdom on boat selling/buying/values.

 

[IllesheimVet]

Re: NadaGuides & BUCValu differences questions ...

I had considered consigning my boat to a dealer to sell. A couple of guys in the office proceeded to tell me what the boat was worth without even looking at it by looking on their computer at "Boat value guides". I think your best bet is to look at what others are asking and price yours accordingly. In my case, people were asking several thousand more than NADA or BUC.

 

[oldjeep]

Re: NadaGuides & BUCValu differences questions ...

As always - its only worth what you can get someone to pay for it

 

[ssobol]

Re: NadaGuides & BUCValu differences questions ...

NADA guides work fairly well for vehicles because the volume is much higher so their database is bigger. The comparatively low volume of boat sales kind of throws off their model.

If you (or your buyer) is going to finance a boat, banks and credit unions generally go with the BUC value when determining how much of a loan they will give.

 

[Hai Nhi]

Re: NadaGuides & BUCValu differences questions ...

Thanks Ted, for the detail lesson . I agree on your reasoning.

Others: solid inputs as well. I think I'm a lot more confident in boat pricing now!

Now getting ready for a long trip to go check out a 280 . 2.5 hrs ea way.

Nhi

 

[crabby captain john]

Re: NadaGuides & BUCValu differences questions ...

Good luck!

 

[airdvr1227]

Re: NadaGuides & BUCValu differences questions ...

Remember 2 things. These publications are guides (more for the lending institutions) and they list average numbers. Some are higher some aren't. Find the boat that you love, check the values, and go buy the darned thing. You might have to pay a bit more than the guide or you might get it for less.

 

[aspeck]

Re: NadaGuides & BUCValu differences questions ...

As already mentioned, they are guides ... the condition and season have a lot to do with it. NADA is strictly historical based ... what were the average sales LAST month. I think BUC takes into account the current market a little better than NADA does.

In the end, it comes down to the condition of the boat, how badly you want it, and what you can afford. I have no problem paying more than any guide for something I really want that is, or near, perfect. If it is not everything I want, then I have no problem offering a price way lower than the guides, because that is what it would be worth to me.

Last boat I bought was almost 1/2 the NADA value. It was almost what I was looking for, but not completely. However, when I offered and they accepted, it became EVERYTHING I wanted! LOL!

 

[Hai Nhi]

Re: NadaGuides & BUCValu differences questions ...

Haha. I hear you Scott.

It's just my budget is limited, but my i keep wanting to buy more expensive boat each time I run across one. That's why I have to try to get the most bang for my buck, and get a great boat in the process

Nhi

 

[Hai Nhi]

Re: NadaGuides & BUCValu differences questions ...

Last boat I bought was almost 1/2 the NADA value. It was almost what I was looking for, but not completely. However, when I offered and they accepted, it became EVERYTHING I wanted! LOL!

That's cool! I know what you mean. I did it once with the bayliner. That's why I'm gonna sell it back because it's not what I want , but got it for a bargain.

Nhi

 

[aspeck]

Re: NadaGuides & BUCValu differences questions ...

That's cool! I know what you mean. I did it once with the bayliner. That's why I'm gonna sell it back because it's not what I want , but got it for a bargain.

Nhi

Thing is, after having her for a few years, I don't want to get rid of her, but if I did, I could still sell her for more than I paid. To me, that is the definition of a bargain.