NADA Pricing?

[VetteLT193]

I've been checking around the internet for various boats... found a couple that look pretty good, one in particular. I went to NADA to cross check the price, and it isn't anywhere near 'market value'. Does anyone else see that trend?

I searched:

1982 22 Classic, NADA says roughly $5k
1987 22 Classic, NADA says roghly $7-9k
1987 Minx is roughly $7-8k

All of them, as well as other boats (20 cigarette in particular) seem drastically low. I can't find a 22 classic of any year for $5k (they are hard to find for less than 15k, and if they are less than that, they are beat up)

20' cigs tend to run $25k plus, yet NADA is showing them in the 5-8k range too... which seems just crazy.

Anyone else have this experience? I was hoping to not outlay the full amount of my boat purchase (i.e. get a loan) but if the boat is only valued at 5k - 8k, i may as well just pay cash and not bother... anyone else have trouble with loans/values, etc?

[Lenny]

Yep, that sounds right. Now, try to find one for that price in your lifetime. :(

12-25 seems to be the norm.

[VetteLT193]

Yep, that sounds right. Now, try to find one for that price in your lifetime. :(
12-25 seems to be the norm.


Glad I'm not the only one that feels that way... i'd jump on a running $5k 22 in a second!

I just got a bit shocked when I thought I was getting a good deal on a boat at $13k, just to find out that NADA thinks it's worth $6k :banghead:

[TuxedoPk]

Anyone else have this experience? I was hoping to not outlay the full amount of my boat purchase (i.e. get a loan) but if the boat is only valued at 5k - 8k, i may as well just pay cash and not bother... anyone else have trouble with loans/values, etc?

As you've found out the NADA values are meaningless. I've always paid cash for my boats but when you get a survey of a boat you're interested in purchasing you will get the surveyor's valuation of the boat which will reflect actual selling prices.

[Hayabusa200]

Like the saying goes. Its only worth what someone is willing to pay for it!
If a particular boat is exactly what you are looking for, pay the price and get what you want, in reason, obviously. Its nice to have a price range to start with, but as you know, there are too many variables when buying a used boat, or anything for that matter. If you are like me, and waste your time looking at others so called mint boats, only to be disappointed, what good is book value, if you arent happy with your purchase. I think the best way to value a boat is to try and find out what comparable boats have "actually" sold for, and not just what a book says.

[Schnook]

When you check the book, make sure you scroll down and check off all the options. When I bought my boat adding the options raised the nada value by more than 30%. That should get you closer to what you're seeing on the market, and help your banker loosen the purse strings with the loan. The book doesn't include the value of the trailer either.

[MOP]

I have been a boat broker for 20 years now, NADA the car book is without doubt the worst indicator of the boat market place I have ever seen. The boat market is a Whimsicle market and very economy effected, ther is no way printed material can give a true up to date picture. It takes them a few months to gather their data and another month to get it into print, get just one hick up, up or down in the stock market and their data is garbage. When buying any boat large or small check as many ads as possible, you will see a general range that the majority fall into. That is the true market then it is all price and condition, the exceptions are the what I call ANAL boats where you have a guy that is way into making it perfect and beyond. If you can afford one of those pay the price and enjoy his labor of love, it will be worth every penny!

In closing stick the books Where The Sun Don`t Shine!!!!!!!!!!!!!!!

M.O.P.

[apollo24]

I agree with MOP. I have been buying and selling boats (95% sailboats) on the side for years. I have two 30-footers for sale right now and one of the prospective buyers innocently called me last week and said that I am asking double what NADA says it is worth!

Of course, I told him that NADA for boats is garbage, and gave examples.

What I always tell people to do is to check the market- look at yachtworld and boattraderonline.com, then take an average of 10-20 comparable boats. I always price my boats (depending on location and season) based on that average. Of course, boats usually sell for less than what the owner is asking, but the above is a good start!

NADA is worth nada. Last time I checked, it said my X was worth a couple grand. If anyone has an 18 out there and running for two grand, SOLD!