How to price a used boat?

OCDACTIVE · 11-29-2009, 02:29 PM

Quote:

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 · 11-29-2009, 03:29 PM

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 · 11-29-2009, 06:21 PM

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 · 11-29-2009, 06:30 PM

Quote:

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 · 11-29-2009, 08:00 PM

Quote:

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 · 11-29-2009, 08:53 PM

Quote:

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 · 11-29-2009, 09:02 PM

Quote:

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 · 11-30-2009, 07:49 AM

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

gf2020 · 11-30-2009, 11:35 AM

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.

Dave R · 11-29-2009, 08:55 PM

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...).

11-29-2009, 06:21 PM	#3
Hermit Cover Senior Member Join Date: Oct 2002 Location: Hermit Cove Posts: 354 Thanks: 20 Thanked 68 Times in 40 Posts	Dealer speak... 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.

11-29-2009, 03:29 PM	#2
Seeker Senior Member Join Date: Nov 2007 Location: Effingham Posts: 408 Thanks: 37 Thanked 19 Times in 15 Posts	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.

11-30-2009, 07:49 AM	#8
robmac Senior Member Join Date: Jan 2005 Location: Nashua,Meredith Posts: 951 Thanks: 213 Thanked 106 Times in 81 Posts	Looking for a used boat you may want to look at northeastmarineliquidators.com. They deal with repos and pricing is very good.

11-30-2009, 11:35 AM	#9
gf2020 Senior Member Join Date: Feb 2009 Location: North of Boston Posts: 203 Thanks: 11 Thanked 35 Times in 28 Posts	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.

11-29-2009, 08:55 PM	#10
Dave R Senior Member Join Date: Jul 2004 Posts: 2,984 Thanks: 246 Thanked 743 Times in 443 Posts	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...).