Value of 1997 370 AC?

Kangarooster

Kangarooster

New Member
Apr 2, 2021
12
PNW
Boat Info
1997 370 AC
Engines
7.4 MerCruisers
We are new to the boating world and are looking at purchasing a 370 AC.
It has 7.4 engines, 500-ish hours. It's in great shape, very clean, kept at a marina and gets regular use, regular maintenance. With some new upgrades.

The owner is firm on their asking price, but we feel it may be high. We see them listed anywhere from $70K to high $90's.

Does anyone know what the appraisal value is, assuming the boat is in good condition?

We have not done a survey yet, we will once we have more information on if the price matches its value.

Thanks for any help!
 
What’s the asking? You can use NADA as a very general guide. Broker can run a sold boats report as well.
 
We’ve looked at NADA, but it’s traditionally lower than actual value. It also doesn’t reflect the current supply/demand issue right now.
Asking is 90k.
 
Kangarooster said:
We’ve looked at NADA, but it’s traditionally lower than actual value. It also doesn’t reflect the current supply/demand issue right now.
Asking is 90k.
Click to expand...
Survey will determine how form the asking price is. Top dollar demands a top boat or an owner who is willing to fix those hidden problems the survey turns up.
 
Kangarooster said:
The owner is firm on their asking price, but we feel it may be high.
Click to expand...

The BUC book tends to be more accurate for comparables.

As for the price being a bit high, there is a lot of COVID pricing going on.
I've been keeping an eye on all of your 370 AC's big brothers (the 420 AC) that have been for sale for a couple years.
Some of the 420's that have been for sale have added 5 to 10% to the asking price of the boat since this time last year.
A newer listing has a 97 for 155k. It's an average boat with the stark white (less desirable) interior. This time last year it would have listed at about 125. And now I see another 97 420 listed at 189,000!!!. Even if in Bristol condition, thats a bit mazzo. There is one that was down at Orange Beach Alabama that was listed for 129k a few years back, never sold, reappeared on Criagslist about a year ago for 95k and is now up on BoatTrader for 110k

Some patience might pay off here if you can wait. Once this covid fest is over, prices will drop and more boats will show up on the market I think.
 
northshore said:
The BUC book tends to be more accurate for comparables.

As for the price being a bit high, there is a lot of COVID pricing going on.
I've been keeping an eye on all of your 370 AC's big brothers (the 420 AC) that have been for sale for a couple years.
Some of the 420's that have been for sale have added 5 to 10% to the asking price of the boat since this time last year.
A newer listing has a 97 for 155k. It's an average boat with the stark white (less desirable) interior. This time last year it would have listed at about 125. And now I see another 97 420 listed at 189,000!!!. Even if in Bristol condition, thats a bit mazzo. There is one that was down at Orange Beach Alabama that was listed for 129k a few years back, never sold, reappeared on Criagslist about a year ago for 95k and is now up on BoatTrader for 110k

Some patience might pay off here if you can wait. Once this covid fest is over, prices will drop and more boats will show up on the market I think.
Click to expand...



Good luck timing the market for anyone who is looking. When will covid fest be over? What about the short supply for new boats? What will that do to the used market? Interest rates low. Etc etc. In my area dealers are being shorted new boats from builders due to vendor supply. Dealers have contacted the marina I’m at to ask to buy customers boats for those who might be thinking about selling. That’s a lot of factors to time. Meanwhile, I’m going to enjoy what I have and observe from water not land.

Crazy times for sure.
 
northshore said:
The BUC book tends to be more accurate for comparables.

As for the price being a bit high, there is a lot of COVID pricing going on.
I've been keeping an eye on all of your 370 AC's big brothers (the 420 AC) that have been for sale for a couple years.
Some of the 420's that have been for sale have added 5 to 10% to the asking price of the boat since this time last year.
A newer listing has a 97 for 155k. It's an average boat with the stark white (less desirable) interior. This time last year it would have listed at about 125. And now I see another 97 420 listed at 189,000!!!. Even if in Bristol condition, thats a bit mazzo. There is one that was down at Orange Beach Alabama that was listed for 129k a few years back, never sold, reappeared on Criagslist about a year ago for 95k and is now up on BoatTrader for 110k

Some patience might pay off here if you can wait. Once this covid fest is over, prices will drop and more boats will show up on the market I think.
Click to expand...

Covid fest being over... haha good one.

I think with some of the sold coms we are seeing it will probably value close to 90k, but we will know for sure soon. It is crazy how much boats are going for compared to just a few years ago. Patience is not a virtue we have when it comes to wanting a boat.
 
My opinion not that any cares, unless you want a day boat with outboards, you not likely getting any new cause that’s that’s all they got. Want an aft cabin style cruiser, used? Which is what driving the used market. I said before in a thread, in 87 I got a loaded 268 loaded with AC for 36k, that’s 90k today dollars. This size now is HALF A FKN MILLION DOLLARS! anyone buying new has more money than brains, and they wonder why the used market is on fire.
 
Pirate Lady said:
My opinion not that any cares, unless you want a day boat with outboards, you not likely getting any new cause that’s that’s all they got. Want an aft cabin style cruiser, used? Which is what driving the used market. I said before in a thread, in 87 I got a loaded 268 loaded with AC for 36k, that’s 90k today dollars. This size now is HALF A FKN MILLION DOLLARS! anyone buying new has more money than brains, and they wonder why the used market is on fire.
Click to expand...

Used is exactly what this boat is... we did part of the survey and are doing the sea trail in a few weeks. It’s looking like the boat will value in the high 80’s.
 
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