Value of 1997 370 AC?

Discussion in 'Ask the Broker' started by Kangarooster, Apr 2, 2021.

  1. Kangarooster

    Kangarooster New Member

    7
    Apr 2, 2021
    PNW
    About to Purchase 1997 370 AC
    Boatless
    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!
     
  2. Golfman25

    Golfman25 Well-Known Member

    Sep 12, 2009
    IL
    281
    V8
    What’s the asking? You can use NADA as a very general guide. Broker can run a sold boats report as well.
     
  3. Kangarooster

    Kangarooster New Member

    7
    Apr 2, 2021
    PNW
    About to Purchase 1997 370 AC
    Boatless
    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.
     
  4. DougLas

    DougLas Active Member

    642
    Dec 13, 2008
    Lake Erie
    39 Express
    454
    Check the BUC Maine book. That seems to be what the dealers are going by.
     
  5. Almightys

    Almightys Super Moderator Staff Member GOLD Sponsor

    374
    Jun 15, 2015
    Warren, MI
    1995 500 DA with diesel loving Detroit’s
    (SOLD)1992 Sundancer 330
    6v92 Detroit Diesel
    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.
     
  6. northshore

    northshore Well-Known Member SILVER Sponsor

    Jan 17, 2011
    Cleveland, OH
    1989 340 Sundancer
    Raymarine E90W Radar/Chartplotter
    Twin 454 Mercruiser 340's
    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.
     
  7. TTG

    TTG Member

    31
    Dec 24, 2019
    2003 360DA
    Twin 8.1 Inboards


    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.
     
  8. Kangarooster

    Kangarooster New Member

    7
    Apr 2, 2021
    PNW
    About to Purchase 1997 370 AC
    Boatless
    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.
     
  9. Pirate Lady

    Pirate Lady Well-Known Member

    Jun 2, 2020
    Chesapeake, Middle River
    91 250 Sundancer, gorgeous, no you can’t buy it.
    454 Bravo 1.
    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.
     
  10. Kangarooster

    Kangarooster New Member

    7
    Apr 2, 2021
    PNW
    About to Purchase 1997 370 AC
    Boatless
    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.
     
  11. Pirate Lady

    Pirate Lady Well-Known Member

    Jun 2, 2020
    Chesapeake, Middle River
    91 250 Sundancer, gorgeous, no you can’t buy it.
    454 Bravo 1.
    Price sounds about right, real nice boat, best luck with it.
     
    Kangarooster likes this.

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