I'm still looking at boats, slowly educating myself. Lately, I've been looking at prices all over the country on [url "http://www.boattraderonline.com"]www.boattraderonline.com[/url]
and comparing them to the used boat values listed at [url "http://www.nadaguides.com"]www.nadaguides.com[/url]. So far, I've only ever found one boat that was selling for even close to the book value. In fact, I'd say on average people (both private sellers & boat dealers) are asking for an average of 3 times the book value.
I've been looking for a deep-v 16-19' from Tracker/Lund/Lowe etc. w/ a 40 HP or greater motor. You can buy a pretty nice one brand new for 10-15K. According to NADA, boats in this category that sold for 10-15K 10 years ago are now worth only 2-3K in most cases. In most cases, the NADA price says it includes the motor and trailer, but you can also get separate values for each and I've done this and added the three together and seem to get the same result- about 1/2 to 1/3 of what most people are asking.
Am I missing something? Or do people expect to get a lot more than the book value? I know some used boats come with nice extras like fish finders and trolling motors, but that could hardly double or triple the value. . .
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It has been my experience that boats hold their value VERY well. Purchasing a boat can be a safe place to put your money. You can get all of the enjoyment and usually sell it at a nominal loss. That is....if you take care of it.
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Throw the NADA out the window. When I bought my travel trailer a few years ago, I asked the salesman to show me the NADA price for the used trailer that I was looking at. He showed the price to me and then stated that RV's will sell for $1,000 or $2,000 over the book price.
The same goes for boats. They are worth what you can sell them for!
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I am in agreement with the other two guy's ...a boat is worth what ever someone is willing to pay for it ...a prime example is I just bought another Grady White walkaround cutty cabin that is 7 year's old and I still paid over, 31,000 for it and considered myself lucky with the condition and all the extra's that were on it ... just keep looking and if your patient you will find exactly what you are looking for. BEST OF LUCK
SOCKEYESLAYER
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I couldn't agree more. I've bought two different fishing boats and sold both for considerably more than I paid. One I kept for four years and only put new carpet in it. It sold for $1000 more than I originally paid. Be patient and wait for the right deal to come along.
p.s.- I bought a '2000 travel trailer 27' last fall and paid $2000 UNDER low nada book value for it. It's all about the timing.
Good Luck!
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Dude- you should check out the boat that PrinceFishher has on the "for sale in utah" board. It sounds like a pretty sweet deal.
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Another thing to consider is the options - what extras do you have to pay for or are they part of the price..
spare tire, life jackets, paddle, anchor, boat cover, bikini sun top, ropes, fish finders, rod holders, spare prop, CD player, water skies, ski rope, electric trolling motor,etc.
If you buy a boat you have to consider what is included for the sale price.
And of course what is the price of have a RELIABLE craft - priceless.... In my opinion.
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I agree with lundman. You have to consider the options. I did nada on my boat and found the options are a third of the value of my boat. And also it did not include the price of the trailer.
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I went out of state to buy my Smokercraft boat, dealer in SLC wanted $29,000 got the same boat in Idaho for $18,900 so take your time and look around. Good Luck
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Thanks guys. As always, good advice. I don't think I reaized how well boats really do hold their value. I suppose this also means that the few boats I have found for near book, if they turn out to be in good condition, really are great deals.
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I've been folowing the post FH. Boats are worth what they are worth. I don't know how much you would like to spend. But I got a great deal at Pier 84 in SLC. I told Nicole I was interested in a certain boat they had and this was what I was willing to spend. I was amased that I got the boat. They replaced both batteried, rebuilt the carb, repaired the trailer lights, and threw in the required nessecties to go boating. I have had to replace the trailer tires and buy gas but thats been it. So their are good deals around, stick to what ya want and offer no more. BTW they are all over priced I picked this one up for 2500 less than they was asking. Boat means B=break O=out A=another T=thousand. Have fun and enjoy.
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I have spent a considerable amount of time recently "fishing" for the deal of a lifetime, and I'm here to tell you it is a challenge to find what you are looking for with a budget in mind. I agree with the previous responses on the value and how it is equipped. The NADA guide is more or less a starting point to establish some baseline figures. Furthermore, it is somewhat confusing and difficult to price certain options. Based on my past experiences. boats typically depreciate the first few years and then tend to hold their value fairly well - more so than automobiles. In addition, most of these outfits are fish ready and have had "lotsa" money invested in them in the form of fish toys! I do have a boat I will be parting with in the near future, but it may be smaller than what you are looking for. It is a 15' Cobra bayliner bass rig with a 50HP Force.... PM me if you might be interested and good look in your quest to catch the big one.[cool]
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Remember that NADA quotes outboard boat prices without the motor or trailer. They are quoting hull values only. You have to look up the hull, motor, and trailer separately; then add them all together to get the actual appraised value of the package.
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another thing to consider when looking at NADA values is that they are also esed so that dealers can offer less for trade in. There are also at least three versions of the NADA value books. One for dealers that you have to have a license to get, The standard consumer book and I always forget what the third one is. Usually it is good to find all the value type places like edmunds and NADA and find a happy medium between the prices and you should be about right.
jed
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just one more quick comment. You may also want to check out other sates as well. As a general rule especially in the Utah county area everyone wants to buy low and sell high. Probably because we are all on a budget. I have observed this phenomenon much more here than in any other state I have lived (I am from Utah). I am not sure why it is, but I am sure the low budgets most of us have has a lot to do with it. I have helped a lot of friends trying to find cars and have found a lot of really good deals in vegas and in texas. I Have also seen a lot of good deals on boats in those areas as well. Good luck on the search man,
jed
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Just a caution for used boat buyers. I bought a used boat last spring. It ran great in the previous owners yard but on the lake it would not idle. The repair shop's diagnosis was low compression due to scored cylinder walls. Repair estimate is $3500. Lots of other things to watch out for. I seem to get it wrong every time.
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