Here's a rhetorical question...

[Brian D]

Why is BUCNet used boat listings +/- $5000 higher than the NADA used boat listings for the same boat?i.e. I looked up for kicks and grins a 1987 Catalina 30. Nothing special about this boat.NADA average price $24,450BUCnet price $29,700Like I said, a rhetorical question.

 

[Fred Ficarra]

I've heard,,,

NADA prices low. Don't know why.

 

[Mike]

I think

Someone once told me that one of the books bases its numbers on actual reported sales prices, and the other uses a more formulaic approach. Maybe the answer of how they get their numbers is spelled out on their websites.

 

[Peggie Hall HeadMistress]

BUC is a list compiled from brokerage sales only

NADA is list that everages dealer sales with trade-ins etc that don't have a broker's commission added to the sale prices.

 

[Brian D]

So then...

Which is more accurate? NADA or BucNet? I can see why a broker would use BucNEt. It is to their advantage to get the most out of the sale. That is what they want to do and I have no probelms with that. But as a buyer, one would want to know what the fair market value of the boat is instead of what the broker thinks he can sell the boat for.Like Confucius and the man with two watches. He'll never really know the correct time. So then, what would the (cue Arron Copland Fanfare For The Common Man) comman man (fade music) use when seeking fair market value for the boat? (Hmmm... almost as perplexing as the meaning of life) (Cue Monty Python music...) ;D

 

[Ross]

If you have extensively upgraded your

boat. With custom cabinetry, fine woodwork, extraordinary upholstory, etc so that the boat becomes a custom boat instead of a production boat then the book is worthless. On the other hand if it has remained a well kept production boat then the boat can be used as a place to start.

 

[Peggie Hall HeadMistress]

Brian, a "fair market price" is...

What someone will pay for your boat in YOUR local area. All the book prices are a national average that reflects the average condition of the boats sold during any reporting period.. Iow, if only 2 were sold that quarter--one pristine, the other rough--the "book" price will be the average price for those two. Nor do the books take into account the average difference in condition between salt water boats and fresh water boats...local economic conditions (for itnstance, if the biggest employer in the state closes its doors, there are gonna be LOT more boats for sale than there are buyes, resulting in lower prices that lower the national average prices). ...that some makes/models are "hot" in one place, nobody's ever heard of it in another place...a glut of 'em on the market here, hard to find there...even the difference in some new boat prices in the east vs the west...etc. Even nationally, the economy has a huge effect on boat prices. For instance, in 1991 the boat market was in the ashcan...the boat I owned then had a "book" value of $45k. When I sold it 4 years later, the market was strong again....book value was $60k, and I had no trouble selling it for more than that.So the "fair market value" for any boat is its LOCAL value...what they typically sell for in your area. Upgrades and add-ons add only about 10% to survey value of a boat in pristine condition. But they do help it sell a LOT faster than the same boat in pristine condition without 'em.

 

[Brian D]

That's interesting...

I've always understood fair market value to mean just the opposite of what you difined it to be. I always felt that FMV was a value that the average person would pay. Whereas, what people are willing to pay for something only inflates the value of an item, not what is "fair". But then again, fair is subjective I guess. Maybe my world is not as real as the real world. *pop

 

[Ross]

Fair market value as defined

In several appraisal courses that I took was: The price that willing and knowledgable buyer will pay and that a willing and knowledgable seller would accept after a reasonable exposure to the market.Edited to correct wording

 

[Brian D]

Then...

I stand corrected. Thanks.

 

[Chuck R]

Something USED is...............

Only worth what the next person is willing to pay. Sailboats, powerboats, tools, appliances or what have you. This is my oPYnion. To sell or buy you need to research the market and today it is easy to do. Yes this includes the "Value Books" but classified ads, e-Bay and places like this forum are good sources.. Get a feel for the market in the right now time frame. Compare you item against other like or the same as yours. Add 25% for bargaining room and 10% more for just luck. Remember you can always lower your price but try to raise your price. Everyone likes a bargain and it is good for both buyer and seller. When it is over the buyer is usually happy and will appreciate your piece much better. Ex: I sold my beloved 1977 23 ft. powerboat that I owned since 1982 this mid summer when marine fuel was $3.50 a gal. I wanted 5K for her and put a price of 8k on her. and placed the boat on a busy US St Rt.. I spent much time on cleaning and detailing her to stand tall and talk back to you when you walked up to her. This was on a Sat afternoon and by the following Wed $6750.00 was in the bank. Buyer first offer was 5K. Because the boat looked her best the buyer was willing to pay the good price.When I bought my 1986 222 O'Day I could not believe what filthy boats were presented when I went to look. including the one I bought. Just use common sense and don't panic. If you don't ask for the good dollar you will never get it.