realistic used values

[livendive]

So last night I looked at another boat, a 1994 DA270. It's a bit older and lacking some features I'd like to have, but I thought it might be had at a discount. Then I got home and booked it up on nadaguides.com and found that even when giving credit for options that aren't actually options (they were standard equipment), the average retail value was less than half of the asking price. Plus, the boat is not in "retail" condition...it hasn't been started or moved out of its slip in over a year. The last boat I tried to buy, the owner declined to budge off his asking price, which he acknowledged was 30% higher than NADA's estimate, and that was with credit given for instruments that were not working during the sea trial.

So is there some more accurate resource sellers use when listing their boats? Is NADA notoriously low on value, or today's market abnormally high with asking prices? While obviously I'd love to get a smoking bargain basement price on a boat, that's not really what I'm asking for here...I just don't want to lose a big chunk of change in the first hour of ownership. If I were buying new, I could see losing 15-30% in the first year, but losing 30-50% in the first year on a 10-15 year old boat? No thanks. I don't need to get a steal (though of course I'd like one :lol, but I'd like to get a price that's fair. It seems unusually difficult for my right-brain to assess what "fair" is when the numbers seem so arbitrary and meaningless.

 

[jmeirhofer]

Your idea of fair is someone else's idea of a steal. In the end the boat is only worth what it sells for regardless of what NADA or BUC say it is worth.

 

[MonacoMike]

I have been looking at similar boats and the NADA numbers seem low for the boats I have looked at. I have also not seen any boats with an asking price in the same zip code of their NADA numbers. I suggest you look at what is for available for sale in the particular model year you are looking at to get a feel for the market. Some of those sellers will come off of their price while others will not budge.

Local dealers have indicated to me that I cannot hope to acquire a quality boat I want at the NADA price. They just do not exist. I believe most owners of sea worthy boats will hold on, so often it is neglected old tubs that set the NADA low market prices.

A 1994 270 da was not a loaded boat at base. Download the option lists from Sea Ray archives to get a feel for that and to compare it with other years because all years seem to have different base levels and values. A nice 1994 270 da is worth $17-22k depending on options IMHO.

http://www.searay.com/Page.aspx/pageId/10532/Model-Archives.aspx

The NADA boat search is a joke when accounting for options that may have originally cost a bundle. I use my own value system to determine what they are worth. For example AC is worth 100% of new option cost to me over a boat lacking it, but may not be wanted by others.

Hope this helps,

MM

 

[Bridog]

Good luck finding a nice, well maintained SR with NADA values. I'm sure there are exceptions.

 

[garryowen]

livendive;stick to your guns. we got our 310 in feb. of this year with 120 hr and bought a new trailer to go with it for right at nada.it came with a hydro lift we gave away to keep from paying slip rent till we could sell it. another 310 same year just a few slips up with small blocks and vee drives and a hydro lift sold 3 weeks later for 3 grand less sans the twelve grand we tied up in a new trailer so 15000 less total. we lost deals on 2 290's and 270 all 2000 to 2002. all were below nada.

we looked at a -270 and a -290 with a single engine-, both over nada. one almost double. as of 3 weeks ago these boats were still for sale.
also here our insurance company (farm bureau home policy) used nada for the base on our 230. we did have to send receipts to up coverage when we installed the new b3.

i would stick to nada as they reflect the selling prices of boats that actually sold.

 

[MonacoMike]

I'm with Bridog. The brokers have said that they have had a good season selling smaller trailerable boats like the OP asked about. Boats over $50-60k and non-trailerable not so much. Likely why many marinas have so many open slips.

MM