NADA vs Market Value

C

Carvervirgin

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I know there is a thread currently active about the price of boats. I am trying to sell my boat and I feel it is priced very fairly according to other boats of it's age and model that are also for sale. I had a potential buyer state that I am way above the NADA value and felt the price was not fair. Does anyone have any ideas on how to counter such a perception?
Thanks
John
 
NADA is for cars. :)

Show him other similar listings. Try BUC for valuation.
 
You may want to get some Comp's from Yachtworld if they reflect your pricing.
 
That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.
 
quote:
Originally posted by Carvervirgin

That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.

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That could lead one to believe that the NADA should stick to Motor Vehicles. Just saying
 
Problem with boats and NADA is there really aren’t enough comparable sales for exact makes, years and models to get a true assessment.
Like with anything else, a used boat is worth what buyers are willing to pay for it.
 
quote:
Originally posted by Carvervirgin

That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.

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But then boats seldom sell for close to what brokers have them listed at.
 
SOLD MY BOAT FOR OVER 12% RETAIL! WHY, BECAUSE IT WAS WORTH IT !

BOB J
 
Yachtworld and Boat Trader listings aren’t a great guideline either. Some of those boats listed have been listed a pretty long time. Many that have sold have gone for a different sale price than it was listed for.
Best bet is to see if a broker can get you real selling prices to compare to.
 
quote:
Originally posted by Carvervirgin

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NADA has no real value in determining what your boat might sell for. On YW there are more than half a dozen boats like yours listed currently - their condition and pricce will give your first clue as to where you may need to be. Checking on how long they have been listed would be another check on prices that sell.
Agesssive pricing and a very good marketing exposure is needed to sell a boat more quickly especially in the off season.

FWIW - we had sold two boats that were listed here on Boatered about 3 years back within one season. At the time we listed there were a few boats that were on this site a year already and they are still there now.In order to get the boat sold it needs to be the most desirable boat since many of these listings sit for many years.

Good luck with your sale and future adventures
 
quote:
Originally posted by JVM225

Yachtworld and Boat Trader listings aren’t a great guideline either. Some of those boats listed have been listed a pretty long time. Many that have sold have gone for a different sale price than it was listed for.
Best bet is to see if a broker can get you real selling prices to compare to.

Click to expand...


Yeah. You need the keep any eye out. You'll have $30000 boats listed at $50000 and sit "for sale" for months. When one pops in at $30000 you'll see it go quickly. That will give you an idea.
 
NADA does not specify the general condition or the hours on the engines
 
I see NADA as a means for the government to collect more on taxes, it's always high. Your best bet is to find a broker who can show you comps for the past 12 to 18 months. And if your perspective buyer thinks the price is too high, tell him to make an offer and start negotiating. it's been my personal experience when a prospective buyer starts off of something like that they're not really serious or they're looking for a steal.
 
Originally posted by Carvervirgin

Bob J, how did you determine “retail
Don't remember who I used but recall describing my vessel with the condition, "ALL" added options. Of course Mfg., model & year. Don't recall if pix were requested. After all said & done; three columns were shown on site, listing retail, low retail & high retail. High retail for my vessel as described was $46,650. I sold the vessel (sob,sob)
for$52,500. I'd be willing to buy back at $53K plus!
BOB J
Click to expand...
 
quote:
Originally posted by Bob J

Originally posted by Carvervirgin

Bob J, how did you determine “retail
Don't remember who I used but recall describing my vessel with the condition, "ALL" added options. Of course Mfg., model & year. Don't recall if pix were requested. After all said & done; three columns were shown on site, listing retail, low retail & high retail. High retail for my vessel as described was $46,650. I sold the vessel (sob,sob)
for$52,500. I'd be willing to buy back at $53K plus!
BOB J

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A quick search turned up a few possibilities....

https://www.yachtworld.com/core/lis...ncyid=100&city=&pbsint=&boatsAddedSelected=-1
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Hey guys, my head is still spinning from selling the Silverton last night and how little it was worth. I never checked the NADA value thinking it would not reflect everything I did to it. Checked the selling prices of similar boats only. I started the selling season out in the upper 30's, and when I dropped to the mid 30's I finally got some interest. Lost out on a couple sales for various reasons. The current buyers had offered full price of 29500 pending survey. The survey went very poorly. The side decks showed signs of moisture. My hardtop had soft spots. It rained like crazy the night before and water leaks were found in several spots. So the surveyor considered it in only fair condition and valued it at 22000...
So I decided to stop the bleeding and just let it go for 22500. I was shocked at how none of the work I did added any value at all. Just last season I spent over 7 grand on all new exhaust, custom boarding stairs, all new motor mounts, ect… It seems the value would have been exactly the same with rusty looking old exhaust. I got hurt very badly overall, all the thousands of dollars and hundreds of hours of work meant nothing.

So my advice to you John would be to get your own survey done now. It will tell you if you have any issues you dont know about, and give you a current market value that is real and not based on wishfull thinking.
 
I think moisture and soft spots are more detrimental than mechanical or system issues. Engines can be replaced. And then you have a new engine. Or new canvas. New ac. Etc. With hull and deck issues you're chasing something only to "fix" it.
 
Wow, James, that's really tough. You put so much work into that boat. Are you looking for another one or taking a break for a while?
 
I am not certain what comes next. The smart thing would be to get out of boating. It is just so expensive of a hobby. It is hard to give up though.
 
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