soldboats data

[kvduff]

Does anyone have information or access to a database of sold boat prices? I have a 2006 320 sea ray that a friend is interested in purchasing from me. I want to give him a fair but accurate price without over/under pricing the boat. Any help is greatly appreciated. This boat is in excellent condition, 6.2l v-drives with closed cooling.

 

[FootballFan]

I am not a huge fan of sold boats data.

I would run listings on yachtworld, boattrader, and marinemax brokerage. Come up with an average listing price, however granular you want to go. Then decide on a % off list (what would typically be negotiated).

My opinion that would yield a better number. Sold boats would definitely be faster - but also I feel less accurate.

 

[dtfeld]

Sold boat data varied wildly when I was looking. Doesn't capture the condition of the boat. Footballs plan seems pretty solid to me.

At the end of the day its worth what the buyer is willing to pay.

 

[kvduff]

I understand what you are saying. The only hiccup in taking the “average “ is their are so many outliers. I imagine some of that is due to money owed on loans, brokers fees or whatever else. It skews the number higher. Hoping to get an idea of what the market is actually commanding.

 

[rmlsll]

You can try BUC for a reference

 

[bbwhitejr]

When we were shopping, I had the sold boats data and it was not worth much. There were only a few sales within the past year anyway. I sent you a PM with some older data that shows every SR sold in 2015. I wish I could remember where I got that and you could get more current data. Although it is 3 years old, will give you some idea of some averages that maybe you can apply. I also looked at BUC value as well. Hull surveyor is after the fact I know, but he will hang a value on it based on his inspection and the current market.

Bennett

 

[FootballFan]

Sold boats is volunteer entry by a broker. A few years ago was researching a boat where there were only 7-8 boats max on the market at any time. I visited most of the boats.

Later looking at sold boat data I saw examples of sold prices that were above the listing price of the boat. Situations where the value of the boat was not a driver.

I will approach this from the standpoint of most brokers are honest and would not enter data that was not factual. But I think it happens. Not every transaction gets entered.

For example one of the largest mover of previously owned SR's is Marine Max brokerage. I have been told by more than one MM staff that they do not enter their transactions in sold boat.

A 320 would have a larger sample which would help, but would still be skewed due to diversity of configurations (reducing the sample size).

My thought was driven the initial statement that this was a friend and you were wanting to establish a price that was fair to BOTH parties.

The less inclusive your pricing method, or the inclusion of "polluted" data could skew the price out of the equally fair range to one sided - in either direction.

Using the market driven approach of what boats are listed for could be compiled in a few minutes. Average the number, then come up with a discount %. Make an assumption that most boats sell for 5,6,7% (pick a number higher or lower) discount from negotiation.

Very transparent for both parties. Your only debate is what number to use as the average negotiated discount off of listing price.

I would probably start at 7%.

Just an idea of how to approach.

 

[JVM225]

There are wild swings in overall condition of used boats so it’s tough to put a number on it. Especially when dealing with a friend.
If you’re moving up through a broker, maybe you could get a ballpark number from that broker. If not, like any negotiation, it may come down to how much your friend is willing to pay vs. what you want to get.
Do yourself a big favor and insist that your friend have a pre-purchase survey done before you close the deal.
It may save the friendship.
I’m not a big fan of selling things to friends or family because no matter how good the item is or how good a deal you give them your more than likely going to hear about every little thing that comes up after they own it.
At least if he has it surveyed, and something needs repair or replacement down the road, you might eliminate any of the “ did you know..........” type questions.

 

[KevinC]

Keep this in mind - It's a boat and inevitably something will break - hopefully it will not be your friendship. As @JVM225 said make sure that any sale to friends involves them doing their proper due diligence and get the boat/engines surveyed by a third party. You could even offer to split/pay the cost of the survey if they don't buy. It will be more valuable to you at that point then to them anyway.

-Kevin

 

[yobub]

If you have the boat surveyed so that you and the buyer have an objective, professional opinion of the condition, then surveyor will provide an estimate the market value. You could explain the situation to the surveyor and the could provide a fair middle ground value, which is objective.

 

[kvduff]

Thanks guys , I appreciate the advice, I am going to try and gather the pertinent data this week...