Reply With QuoteYOU DIDN'T SAY WHAT YEAR THE BOAT IS?
The boat version of the NADA guidebook doesn't use any
current market values when figuring their numbers. They
contact the manufacturers about the cost of their new boats
and then they depreciate them. Unfortunately, they use
the same percentages of depreciation for all boats. In other
words, its not even an educated guess. Unfortunately the
banks use them when funding loans so alot of good boats
are hard to sell. For example, we had a 1995 Conquest
Deckboat for $55,000 recently that was mint. We had people
try to buy it every week. They would get to the bank and
open the NADA book and it booked for about $28,000. The
bank would want to finance maybe 120% of $28,000 which i s $33,600 so the buyer would have to come up with $21,400 in cash for a down payment to do the deal. The NADA book really hurts those selling boats with great resale value and really helps those production boats that have little resale value.
****If you want to sell a boat and are hoping to establish
current market values--go dig up some 4 to 6 month old boat trader magazines and call people with similar boats. chances are they have sold the boat and will be happy to tell you what they got for it, asking prices don't mean a thing. if they still own it, it's a good possibility that they are asking too much for it.
Keith Sayre
YOU DIDN'T SAY WHAT YEAR THE BOAT IS?
Originally posted by Mrs. Bordsmnj
You should get one of them that Shiadas!
When I got my 21' Schiada River Cruiser it was worth nada according to Nada. Shows what they know...
I think it is always best to survey the market for the boat you are interested in buying/selling BEFORE advertising or determining a Sales Price. There are seasonal fluctuations and also supply and demand reactions. Just because NADA is suggesting a price doesn't mean you can't sell it for more.
Also a marine appraisal is a good thing for someone financing a boat. It gives the banks more peace of mind.
Anyway, just my .02
I have found NADA to be a fairly good barometer for the price of a boat. But you have to remember that some people take better care of their boats than others. Pictures and nada can lead you off the mark if a boat has either been trashed (not cared for) or fully restored.
I have my own horror stories from shopping in the last year.
if it's your baby what do you want to sell it for?
I probably know the answer, are looking to move up to a larger boat? If not keep the Ultra...
I probably will keep it but just testing the waters By the way greg was that you on Ave L this morning heading west ?
When I got my 21' Schiada River Cruiser it was worth nada according to Nada. Shows what they know
Jordy you forgot to check the box with thru transom, That would have made it PRICELESS
Originally posted by Kilrtoy
Jordy you forgot to check the box with thru transom, That would have made it PRICELESS
Not to mention 5 mph faster........
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