NADA Used Boat Prices, Fair Or Not?

[sigbear]

I have been looking at late model used (2005-2008 309/310) catalina sailboats for about a year now and the "asking prices" seem to be much higher than what NADA says.

example:

I see most of the 2007+ catalina 309 with a asking price of 90,000-100,000
NADA Avg. retail = 66,000 and Avg. low retail = 58,000

I have seen a few of the Catalina 310's for sale for more than a year and they only sold when the price was dropped to appx. NADA price recommendations.

I want to buy a boat in the next year or two and like everybody else I don't want to overpay for it, especially in this economy.

 

[tommays]

What other boats have sold for is what sets the price and the amount of money you can borrow IF using a loan

 

[Don S/V ILLusion]

Ask your broker (or fond one) to give you a printout of actual sale prices of similar boats, in similar condition in the general area you are shopping which is a far better indicator of market value. NADA and/or BUC values are typically under-priced although it varies and are generally considered as wholesale prices only.

 

[Maine Sail]

SoldBoats.com

SoldBoats.com is the industry standard data guide for actual sales prices and original asking prices. It is a division of Yachtworld.com and the data is gathered directly from member brokers (who BTW pay a LOT for this service). As far as accuracy this is the only close to accurate system we have available for brokered boats.

If you are not a broker you won't have access to SoldBoats.com. Any good broker will print you out a report of selling prices of the same model vs. asking prices for your region, state or locale. If he/she won't offer to do this MOVE ON to a new broker!!!

I used to have a password and access to SoldBoats.com, and did a fair amount of research on it over about a two year period. NADA and BUC never even came close with their predictions of value when compared to actual selling prices, as reported to SoldBoas.com.

 

[Marcia]

Re: SoldBoats.com

I can do this for you. Contact me privately through email.
piercevb@cox.net

 

[Ross]

Re: SoldBoats.com

A fair market value is the amount in dollars that a willing and knowledgable buyer will pay and a willing and knowledgable seller will accept for a property. There are so many variables that any attempt to establish a price is merely an effort to provide a suggest starting point.

 

[Steve Dion]

NADA prices are typically lower than what I have seen as actual selling prices too. BUC prices seem a little more in line. You can always use the NADA prices as a starting point for an offer. Most the time prices are set based on what someone THINKS they can get for the boat and they build in a little buffer for the typical 10-15% LOWER offers.

 

[John]

I once had someone (either a broker or a surveyor - I don't remember) tell me that soldboats.com is not fully accurate. That's because the price put in there is the price the broker claims to have sold the boat at. For various reasons, the incentive for the broker is to exaggerate the price that was paid.

 

[butchrobbins]

My boat is a 2001 Catalina 310 with lots of extras and I am asking $68,500. I purchased this boat 2 years ago for $72,500 and the bank valued it at $77,000. I just recently lowered the price, but have had only 2 people actually look at the boat in 2 years. In the slip next to me was a 2003 Hunter 306 with some extras and it sold for $45,000 just this past week. If you want a bargain they are out there. Lowballing is not in order unless the ad reads "motivated seller", then Katy bar the door. Good Luck!

 

[sigbear]

butchrobbins

Do you recall what the Hunter 306 asking price was, and what shape was the boat in?

Thanks

Donny

 

[butchrobbins]

Do you recall what the Hunter 306 asking price was, and what shape was the boat in?

Thanks

Donny

The asking price was $56K. The owners moved across the country and just wanted to unload it. The boat appeared to be in very good condition, and the broker told me the engine only had 38 hours on it! I very seldom saw anyone use this boat in the past 2 years. Again, a motivated seller and a bargain for someone.

 

[sigbear]

I Guess Prices Are Really Falling

I was just looking at a list of boats on sailboats.com and the last boat that sold on the list was a 2004 Catalina 310, asking price $65,900, sold for $50,000 in Aug. 09.

Looks good for buyers but painful for sellers in this economy.

Donny