Boat valuation

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.

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.

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.

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

I agree Nada does not do a good job with add ons.

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.

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.

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 .

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.

True

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.