New to the boating world...am I overpaying at 14,900?

[jestncase]

Hello all, as I am soon to be a new boat owner and feel like a fish out of water...my question is, is this a reasonable price for a used boat?

1995 Cobalt 220 bowrider
5.7 litre mercruiser with 311 total hours
single battery
alpha one drive
stainless steel 3 bladed prop

sony cd player, four speakers

bimini top, bow and cockpit covers (average condition)

boat interior, with the exception of two small (one inch) symetrical tears on the sun deck, is in "new condition" and with the exception of some gel coat fading and the two small tears in the vinyl, this boat appears, to my eye, to be in very good shape; relative to some of the other boats I have looked at, this boat is in immaculate condition and was well cared for. Was stored on a boat lift at a family cabin on a Minnesota lake.

test drove the boat...topped at 48 mph with the swim ladder in the water the whole time...(oops!)

boat comes with a tandem bunk trailer that appeared to be adequate for the boat. In other words it was not a custom built trailer for the boat, but it was capable of towing a 24 footer as the owner put his own boat on it while he used his slip for the boat I want to purchase. Has surge brakes and is and adjustable bunk trailer. I believe it's a Karazan or something like that.

If anyone has any opinions as to whether I am overpaying, please let me know what you think.

Oh...I have a wife, a 7 year old. We expect to waterski, tube, cruise, and occasionally just fish with it. We do have two nephews 7 and 9, and some of my daughters friends, 10 and 8...so a total of 3 adults and perhaps 4 children on the boat at a time, maxed would be 4 adults and 5 kids, but I think that would be rare to have us all on the boat at the same time.

Owner is asking 14,900 and I have yet to make an offer.

 

[BigJ08]

Re: New to the boating world...am I overpaying at 14,900?

I think Cobalt's are decent boat and that motor/outdrive combo is definately a plus. But it ain't worth 15k.

 

[Thad]

Re: New to the boating world...am I overpaying at 14,900?

I think Cobalt's are decent boat and that motor/outdrive combo is definately a plus. But it ain't worth 15k.

I agree in part. It ain't worth 15k. But I think Cobalt is an excellent boat.
He is trying to sell the name. New they are one of the most costly boats. But used, it is just like any other good boat. Condition! Look around and don't get caught up in the "I have a (insert brand here)" game.

 

[jestncase]

Re: New to the boating world...am I overpaying at 14,900?

What would be a reasonable offer?

 

[ksteiger]

Re: New to the boating world...am I overpaying at 14,900?

I think it's overpriced. I bought a 2003 Four Winns Sundowner S205, with trailer, last September for 19K. (5.0L Volvo Penta Duoprop.)

 

[Thad]

Re: New to the boating world...am I overpaying at 14,900?

What would be a reasonable offer?

NADA puts it between 7,800 and 8,800 dollars. Keep in mind that is without a trailer. You would have to look at trailers add guesstimate a price. If the boat is nice and the trailer in good shape (tires, paint, winch strap, lights, etc.) I would say the package should be worth around $9,500 to $10,000.
As far as taking people with you, I have a 21' BR and only carry seven people (four adults/three kids). I do not like to be cramped. I have had nine and ten a quite a few times. My daughters friends. Plenty of room for the kids and the gear, and you gotta figure two of them will probably be on tubes anyway. But it is what you are comfy with. More people, gear, and coolers...more fuel useage.

Good luck and happy boating.

 

[BigJ08]

Re: New to the boating world...am I overpaying at 14,900?

Check NADA.com to get a ball park figure. You might also consider having it looked at by a professional, or do a lot of reading on this site on how to detect problems. While the good condition of the boat overall indicates a maintenance minded owner, you just never know.

 

[tashasdaddy]

Re: New to the boating world...am I overpaying at 14,900?

15 year old boat, cobalt, searay, does not matter. it is a hull this economy not over 9K.

 

[BigJ08]

Re: New to the boating world...am I overpaying at 14,900?

^^^ X2 ^^^

 

[captkevin]

Re: New to the boating world...am I overpaying at 14,900?

For 15k i'd look for a new boat - if you go to get rid of it in a few years it wouldn't be worth anything.

 

[jestncase]

Re: New to the boating world...am I overpaying at 14,900?

I appreciate the advice...It seems that I am paying for the Cobalt name as someone has stated earlier.

Any Cobalt owners wanna weigh in on this question? Is the Cobalt product worth the added expense? I am guessing that many here will say no.

Thanks to all who participated.

 

[Cptkid570]

Re: New to the boating world...am I overpaying at 14,900?

Just my opinion, but the 5.7 Mercruiser w/ alpha 1 is the exact same mercruiser engine in any other boat that size.

So, then, you have to ask if the boat looks any better than any other boat that size and if the interior is designed or laid out any better than other boats it's size. And if you are willing to pay for that.

 

[rrhodes]

Re: New to the boating world...am I overpaying at 14,900?

I appreciate the advice...It seems that I am paying for the Cobalt name as someone has stated earlier.

Any Cobalt owners wanna weigh in on this question? Is the Cobalt product worth the added expense? I am guessing that many here will say no.

Thanks to all who participated.

A boat is worth whatever you are willing to pay for it however I would say $10k with trailer. Too many used boats for sale in that price range. You mentions small tears and average condition. For $15k I would have to be really in love with it and it would have to be in pristine condition. I would also want to see maintenance records.

 

[jacknbella]

Re: New to the boating world...am I overpaying at 14,900?

Would you pay $15K for a 15-yr-old Cadillac with 150K miles? I think not. The boat economy is in the tank, you have all the power. Offer $7500 take it or leave it. Otherwise, there are many more boats out there WORTH $15K and you'll get much more boat and much better reliability/durability. Nothing against Cobalt though...Very nice rigs!!! Good luck!