How to price a used boat?

[lawn psycho]

Just curious is there is a tried and true way to price a used boat? I am looking at several boats from 5 to 7 years old. I'm looking at 20 ft bowriders. Prices are all over the place for similar models and engine configurations. I've narrowed down my choices to either a SeaRay or Four Winns.

How in the world do you gauge if the price paid is were it should be?

[BroadHopper]

Will give you a ballpark figure on used boats and boat trailers. With the given economy it is on the 'high side'. To give you an idea of boat prices I suggest you use the following site to find what boats are going for generally.

Just put in the search criteria the boat and region you are looking for.

http://www.jaxed.com/cgi-bin/mash.cgi?cat=cpboat

Good luck!

Rick

[lawn psycho]

Originally Posted by BroadHopper

Will give you a ballpark figure on used boats and boat trailers. With the given economy it is on the 'high side'. To give you an idea of boat prices I suggest you use the following site to find what boats are going for generally.

Just put in the search criteria the boat and region you are looking for.

http://www.jaxed.com/cgi-bin/mash.cgi?cat=cpboat

Good luck!

Rick

I've tried to use craigslist and various websites. Like I mentioned, the prices vary wildly. Also, the number of boats on the market is down dramatically so my sampling is getting even more skewed.

[VitaBene]

http://www.nadaguides.com/SectionHom...=24&p=0&f=5601
This is a link to NADA's site.

Poke around Craigslist. You are in the driver's seat! The only thing that is tough is that you have to unwinterize to test run and a sea trial becomes challenging soon.

A few from CL
http://nh.craigslist.org/boa/1485428708.html
http://nh.craigslist.org/boa/1480150676.html
http://nh.craigslist.org/boa/1469811972.html

[robmac]

The big three in boat book values are:ABOS,NADA & BUC,you can also check for sales prices on Yachtworld.com. The rule of thumb is still the same,it's worth what someone will pay.

[BroadHopper]

For instance NADAguides list a 1998 Formula F-223 LS for $13,000 average. Lakeport landing recently sold one for about $17,000 in excellent shape. A boathouse boat with low mileage. Last spring I bidded on one from Alexandria, VA. on EBay. A Potomac River boat with trailer in excellent condition. Been stored for 7 years. The owner defaulted on his storage fees and the marina auction it off. I got it for $4000. Had it surveyed and tune up paid by the marina. Put 30 hours on it this summer with no problems.

Any boat will go for whatever one is willing to pay.

[lawn psycho]

Originally Posted by robmac

The big three in boat book values are:ABOS,NADA & BUC,you can also check for sales prices on Yachtworld.com. The rule of thumb is still the same,it's worth what someone will pay.

It's the rule of thumb I worry about. Prices for used boats are extremely variable which is where I am getting tripped up. If you look for a new or used car, within 20 minutes you can get fairly accurate numbers for whatever year and options you're after. Boat pricing is an entirely different animal.

Does anyone know if there is a "free" website to get ABOS values?

[MAXUM]

That's because the boat book values are not always generated on the level of detail that say automobiles are. Basically you need to pay attention to how the book values are generated and then throw in some discriminators of your own. I've bought several used boats. Some of my rules of thumb. Private sale should always be cheaper. Dealer prices will be more unless the boat is a consignment. Anything that has seen salt or brackish water should be priced much lower, salt water destroys boats... matter of fact I'd never consider anything that has seen salt water. In the range you are looking at trailers may NOT be part of the package. That can swing the price several thousand dollars. Like anything options and condition play a big part in the value. Hours like mileage also fit into the equation. I'm a very picky buyer and only consider a boat that is cosmetically near perfect and been very well maintained. Window shopping on the internet can be hard, lots of little things can be there which do not jump out at you in a picture that's posted. End of the day it's your money and what ever the boat may be worth to you is what you offer. 4winns or SeaRay are very popular brands and with brand recognition comes a premo price. As a disclosure I own a SeaRay. Not going to steer you one way or another, but I will say that although you may pay a little more for either because of the brand, on the other end selling a popular brand makes it easier too.

Good luck with your purchase, the more you know about what your buying the better. Prices should be pretty aggressive, the economy stinks and toys are not exactly something most are thinking about, if anything the market is a little flooded with people dumping them so it's a buyers market as far as I'm concerned. No way today would I pay book value unless I felt as though the boat was in perfect condition and came loaded with options and accessories and even at that I still think I'd be pressed to push the price down below book.

[jeffatsquam]

Definitely do your home work know what that boat is worth .

Usually you don't see a lot of boats only 5 to 7 years old but in this economy you will .

I just participated in a auction with mvsb on a 6 year old 20' MARHIA
bow-rider

I didn't win with my low-ball bid .

The type of boat you are talking about probably went about $1,000ft new maybe a little more without a trailer you would be looking at spending about half that.

I would certainly look to lenders for your best buy this off season

[Airwaves]

You might consider hiring a marine surveyor to give the boat the once over. It could save you from major headaches down the line.

[OCDACTIVE]

Originally Posted by Airwaves

You might consider hiring a marine surveyor to give the boat the once over. It could save you from major headaches down the line.

this is a VERY good idea.. However make sure the surveyor also does a compression and leak down test on the engine. At least the compression test...

[Seeker]

Depending on your insurance carrier a survey may be a requirement before they will provide in-water coverage. You're not talking a large boat so a survey should be relatively simple. I once had a survey done on a 31' Bertram and the well known surveyor said it had a 25gal holding tank while it in fact had none.
Most boats I have purchased have been contingent on a passed insurance company survey and a sea trial. Take your time, there's lots of boats out there and I'm not sure they are going to be more expensive in the spring the way this economy is going.

[Hermit Cover]

I've had several dealers nearby tell me that NADA and similar value databases do not apply to a boat used on lakes in our region ... these NADA values tend to be low...based on boats from the South...like Florida...used in salt water....hard hours. Therefore , local usage being less because of the short season, and use only in fresh water, make the local offering worth more!! Therefore....better usage...higher than average prices...in many cases in the tens of thousands of dollars on boats like Formula, Sea Ray, Chris Craft, Cobalt, etc.

[lawn psycho]

Originally Posted by Hermit Cover

I've had several dealers nearby tell me that NADA and similar value databases do not apply to a boat used on lakes in our region ... these NADA values tend to be low...based on boats from the South...like Florida...used in salt water....hard hours. Therefore , local usage being less because of the short season, and use only in fresh water, make the local offering worth more!! Therefore....better usage...higher than average prices...in many cases in the tens of thousands of dollars on boats like Formula, Sea Ray, Chris Craft, Cobalt, etc.

Not sure I agree with your post. Perhaps the hours for fresh water boats in New England may be less, but my research would not lead me to their conclusion on pricing. With used boats, dealers have to compete with private sales and the age of the internet.

I'm looking for a used boat in the 20 footer range. Tens of thousands of dollars is not the scale I am dealing with. May $1k to $2k.

[BroadHopper]

Originally Posted by lawn psycho

Not sure I agree with your post. Perhaps the hours for fresh water boats in New England may be less, but my research would not lead me to their conclusion on pricing. With used boats, dealers have to compete with private sales and the age of the internet.

I'm looking for a used boat in the 20 footer range. Tens of thousands of dollars is not the scale I am dealing with. May $1k to $2k.

I know there are folks in the NE marina industry that shipped thier used inventory to the Gulf coast as they are worth a lot more down there. No salt water damage and very low hours. That is why the marinas around here do not have a lot of used boats. Down on the Gulf coast you will see tons of used boats. And they are not in good shape.

Once you find a boat that fits your needs, focus on it and look around. You should find a reasonably price boat in good shape.

good luck!

[lawn psycho]

Originally Posted by BroadHopper

I know there are folks in the NE marina industry that shipped thier used inventory to the Gulf coast as they are worth a lot more down there. No salt water damage and very low hours. That is why the marinas around here do not have a lot of used boats. Down on the Gulf coast you will see tons of used boats. And they are not in good shape.

Once you find a boat that fits your needs, focus on it and look around. You should find a reasonably price boat in good shape.

good luck!

I've got my eye on three boats, two are in CT and one in NH. NADA is lower than than the list price on 2 out of 3 of the boats but not by much.

Now the question is when do I pull the trigger. The problem with buying a boat this time of year is lack of an in water test.

Anyone know the cost of a compression test? Most of the boats I'm looking at have 5.0L V8s.

[Dave R]

I have used NADA as a guide and then negotiated down from there. That said, do not be afraid to pay more for a "cream puff". Some boats are treated with great care and attention to detail that can make them substantially more pleasant and cheaper in the long run to own.

Also, don't be afraid to drive a bit to buy a boat, there's some excellent deals south and west of here. I sold my last boat to a family in Illinois and delivered it while picking up my current boat in Indiana. I also recently test drove and inspected a boat for a friend in NJ, then went with him to pick it up a couple of weeks later. All were really nice boats and worth the windsheild time (helps if you love a good road trip like I do...).

[Dave R]

Originally Posted by lawn psycho

Anyone know the cost of a compression test? Most of the boats I'm looking at have 5.0L V8s.

Should be <1 hour of labor. That said, there's lots of things that a compression test won't show. An in-water test is a really good idea and worth the extra cost of re-winterizing if you have settled on a boat.

[robmac]

Looking for a used boat you may want to look at northeastmarineliquidators.com. They deal with repos and pricing is very good.

[gf2020]

BoatUS offers a free boat valuation service:

http://www.boatus.com/buyer/valueform.asp

My experience is that the values tend to be a little high but it is one more data input in to your decision making process.