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Boat valuation
#12469576
10/18/17 02:46 AM
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Joined: Jan 2012
Posts: 338
metalruch1
OP
Angler
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OP
Angler
Joined: Jan 2012
Posts: 338 |
Evening TFF...quick question? Why does it seem that most used boats tend to be overvalued? I ask because, after buying and selling a couple of boats over the past 2 years...(I tend to buy a 5k to 6k boat and fish it for the season, then sell at the end of the year) I have sold mine for a tad bit under the NADA guide but still get out what I paid for it in the first place... So you have context of why I am asking my ?... And I have noticed values are high right now based on NADA valuation. Now I know there is variance in this valuation tool, but 2k to 4k over?? Is it the market high right now because it's fall? I am just trying to get my head wrapped around the pricing I am seeing. Thanks.
Last edited by metalruch1; 10/18/17 02:49 AM.
BOOMER SOONER
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Re: Boat valuation
[Re: metalruch1]
#12469586
10/18/17 02:51 AM
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Joined: Jul 2013
Posts: 6,707
Brent S
TFF Celebrity
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TFF Celebrity
Joined: Jul 2013
Posts: 6,707 |
Prices have constantly been going up over the last several years. Once the economy tanks again and people are scrambling for money, used boat prices will drop.
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Re: Boat valuation
[Re: metalruch1]
#12469589
10/18/17 03:00 AM
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Joined: Sep 2013
Posts: 237
djones03
Outdoorsman
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Outdoorsman
Joined: Sep 2013
Posts: 237 |
I feel like NADA doesn't take into account very well the cost and value of new electronics and trolling motors, along with rigging like jackplates, power poles, and hot foots. Also Texas is a hotbed for bass fishing, and most people like to get as much as they can for their boats, whether it's the honest thing or not, money talks. When I was in the market, my motto was, I don't want a good deal, I want a good boat, so I was willing to pay a little more for what I thought was quality.
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Re: Boat valuation
[Re: metalruch1]
#12469615
10/18/17 03:32 AM
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Joined: Dec 2004
Posts: 27,667
Fish Killer
Big Sexy
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Big Sexy
Joined: Dec 2004
Posts: 27,667 |
With that price range of boat they have pretty much lost all the value they could
Newer boats have gotten so expensive it's actually increasing the value of newer used boats
And then there is the fact that people are financing boats for stupid amounts on stupid time frames they are just trying to get out from under what they owe on them
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Re: Boat valuation
[Re: metalruch1]
#12469856
10/18/17 01:24 PM
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Joined: Nov 2002
Posts: 5,055
BMCD
TFF Celebrity
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TFF Celebrity
Joined: Nov 2002
Posts: 5,055 |
I agree Nada does not do a good job with add ons.
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Re: Boat valuation
[Re: metalruch1]
#12469886
10/18/17 01:42 PM
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Joined: Jan 2012
Posts: 338
metalruch1
OP
Angler
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OP
Angler
Joined: Jan 2012
Posts: 338 |
As far as add-ons, I would always add an additional amount to the value... But even with this additional amount, the valuation is 2k to 4k over... That's what I don't get...I agree that a lot of it is people trying to get out of their loan. But yes, you do have to account for quality installation work and updated equipment.
BOOMER SOONER
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Re: Boat valuation
[Re: metalruch1]
#12470331
10/18/17 07:34 PM
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Joined: Mar 2005
Posts: 7,053
SC-001
TFF Celebrity
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TFF Celebrity
Joined: Mar 2005
Posts: 7,053 |
It can be a WIDE range. NADA valued my boat at $8500, I checked tons of places in north texas an no one was willing to give over $6K for it for trade in some didn't even want it, there are guys selling and have sold the same model/year for over 10K in the classifieds here, go figure used boat prices are stupid right now.
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Re: Boat valuation
[Re: metalruch1]
#12470373
10/18/17 08:19 PM
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Joined: Nov 2007
Posts: 5,526
ssmith
TFF Celebrity
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TFF Celebrity
Joined: Nov 2007
Posts: 5,526 |
you can throw nada out the window if it is a clean late model big brand name boat 20 foot or bigger that has been cared for they will bring more because they are worth more if they have been garage kept once a bass boat gets into the 6k range as long as it runs there is a good market for them but as you get up into the 20 s an 30 k boats the market narrows .
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Re: Boat valuation
[Re: metalruch1]
#12470391
10/18/17 08:41 PM
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Joined: Aug 2002
Posts: 2,604
pacertom
Extreme Angler
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Extreme Angler
Joined: Aug 2002
Posts: 2,604 |
Exactly...nada is a very rough guide.
My boat extras Ultrex $2400, 2X12HDS - $4500, 2 Power Pole Blades $4000, 4 new AGMs $1000+
That's easily $10K over nada when discounting it. They don't do a good job with the extras tourney fisherman want on a turn-key bass fishing boat.
A MAN WILL NEVER GO TO HIS GRAVE WISHING HE'D FISHED LESS!!
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Re: Boat valuation
[Re: pacertom]
#12470594
10/19/17 12:26 AM
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Joined: May 2008
Posts: 10,286
Rayzor
TFF Guru
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TFF Guru
Joined: May 2008
Posts: 10,286 |
Exactly...nada is a very rough guide.
My boat extras Ultrex $2400, 2X12HDS - $4500, 2 Power Pole Blades $4000, 4 new AGMs $1000+
That's easily $10K over nada when discounting it. They don't do a good job with the extras tourney fisherman want on a turn-key bass fishing boat. NADA is a dinosaur. It does not come close to giving you an accurate value for your boat. It has the very same bad "check list" now as it did 20 years ago. I called them years ago to talk to them about their format. They couldn't have cared less about my opinion.
Be safe, Rayzor 2001 Triton Tx-21/225 Mercury EFI
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