PSA: Establishing Boat Resale Values

Working in the Marine Sales industry, I have been surprised to learn how many buyers/sellers do not realize that if an item of equipment came standard on their boat/motor/trailer from the manufacturer, then you do not credit it in the options feature in NADA when establishing the boat(s) value.

When I evaluate a boat for purchase or resale, I do a Goggle search first to find the standard equipment list for the specific boat model/year involved. Only then do I go to NADA and begin establishing the correct value.

FROM NADA FAQ PAGE

"When selecting optional equipment for my boat during the pricing/valuation process, do I select standard equipment as well?

No. You only need to select the options/features of your boat on the Optional Equipment page that did not come standard on your boat (unless otherwise noted) and that were added after the purchase. Standard equipment is specific to your model/trim level and NADA guides will automatically factor this into the price of your boat on the price report page. It is important to note that standard and optional equipment may vary between manufacturers. Engines and trailers may or may not be included in the boat you are pricing so read the notes that accompany the boat you are valuing. Visit the Boat Center for all your boat needs."

Should be a factor in paying sales tax also, should be on bare boat ,boat motor and trailer and not all of goodie add ons

It's actually cheaper I would think that they are taxed with the boat. 6.25 vs 8.25% Am I missing something somewhere?
I think I might see where you are coming from on a pre owned boat. I believe your contention to be that those items have already been taxed..but wouldn't the same hold true for the boat motor and trailer?

I do because of being in the marine industry for 19 years and seeing that a new 250 hp motor is almost 20k when you can purchase any gas engine you want for a vehicle for around 5k. Consumers have been getting ripped off by motor manufactures for years so why not try to get all you can for your trade in that you paid to much for and the new boat rig you are buying that you are paying way to much for.

Wish I could get my motor for my drag car for 5k haha. More like 15k. But your point is valid. We pay way to much for a boat motor. Way way to much.

you can buy a pro xs 250 from flw for 14,300.

I'm trying to figure out the point of your post. Is it to gripe about your customers and how much they value their boat when they trade it in? I honestly can't figure out what you mean by this post.

No gripes Frank, just trying to help educate folks.

Thanks for the post T Bird, it should educate and help folks who decide to sell or trade in their rigs in the future. The seller's expectations may be a little too high if factoring in a bunch of options that were actually standard equipment.

ok would like to know the value of my boat as I have trouble figuring it out. 1995 sratos 201 pro xl with 99 225 merc, 798 si bow, 757 console and new 1199 si console. it also has a 101 minn kota. single axle trailer. just want to make sure I have enough insurance

Well, we know that those graphs weren't standard equipment so make sure you add them to the value. I guess on the trolling motor you will have to add 25% of its value because it was a kinda standard issue; but the original was way smaller.