Happy New Year, looking for bigger boat

[jwws007]

Hello everyone. As I've gotten another year older, finally have decided to get out of the go fast boating world, and into the world of cruisers. I've always like Sea Rays, and really like the late 80's and early 90's 34 foot express. One of the questions I have is why does everyone ask 10k over the NADA high retail for these boats. Are the owners wrong, or the NADA people

 

[JVM225]

I think you'll notice that most boats listed at prices higher than NADA sit on the market for a very long time. I suspect that many of those sellers are testing the waters, just trying to see what kind of bites they get.
I think when stuff moves it's because the selller either backed off of their asking price by a large amount, or priced it right to begin with.
I've seen many boats advertised for really long periods on Craigslist, some for two seasons or more, while others that are priced more reasonably seem to disappear much more quickly.

 

[jwws007]

than what do you think people should shoot for, high retail, low retail etc etc

 

[JediJD]

Having just come through the shopping experience, my observation was that a lot of people simply owed more on their boats than they were worth on the open market. A couple of people I knew had really nice boats, but selling them at payoff was still $15k too high. Convincing someone to part with five figures to get rid of their boat was pretty tough. In this market, the first thing to look for is financing...do you have cash? If so, there are a number of DEALS out there. Banks, auctions, foreclosures...good grief (although there seem to be fewer now than a few months ago...but that is just my amateur eye). If you are financing, be careful...a number of traditional sources, I understand, will no longer finance private party purchases.

 

[JeffMendenhall]

I bought my 300DA 10K under NADA. Bought it from a dealer and they just wanted it off their lot so they were dealing.

 

[katricol]

I would offer 10 to 15 % below low retail of nada

 

[KHARRIMAN]

I would offer 10 to 15 % below low retail of nada

+1 To this range.

 

[comsnark]

The asking price is only a start point for negotiation.

NADA is merely a suggestion for where the final negotiated price should end up. In my area, I have historically found NADA car prices to be higher than what you can buy the car for. In some cases, the dealer starting point was lower than the NADA value. I do not know how this applies to boats.

NADA also comes into play, I believe, for insurance and loan purposes.

 

[autovette]

Comsnark: Your points are very confusing. You first say that NADA is a suggestion for where the final price will end up. You then say that car prices are bought for less then NADA. You then say that you don't know how NADA applies to boats. So then why bring it up? And, if you're not sure if NADA comes into play for insurance, then again, why do you state it does, because you believe it does?

 

[katricol]

I was told banks and ins. co. are looking at nada low retail numbers. (from a reliable source) All you have to do is go to nada marine and punch in the numbers... Ric

 

[Russ Calasant]

Not sure about banks but as far as insurance companies they use the BUC book as a reference but also use current economy, condition and equipment list to value the boat, as should you. (wife is CEO of ins. co). I would beware of where and whom I purchased a boat, it may be a buyers market but the old phrase "you get what you pay for" still applies. I dont put a lot of stock in NADA and consider it a loose reference at best. If you can gain access to the dealer side of Yachtworld.com that will tell you what your boat is actually selling for in current market but again numbers can be affected - a beat repo boat vs. a well loved and cared for boat. Good luck.

 

[sea salt]

Not sure about banks but as far as insurance companies they use the BUC book as a reference but also use current economy, condition and equipment list to value the boat, as should you. (wife is CEO of ins. co). I would beware of where and whom I purchased a boat, it may be a buyers market but the old phrase "you get what you pay for" still applies. I dont put a lot of stock in NADA and consider it a loose reference at best. If you can gain access to the dealer side of Yachtworld.com that will tell you what your boat is actually selling for in current market but again numbers can be affected - a beat repo boat vs. a well loved and cared for boat. Good luck.

This makes a lot more sense.:thumbsup:

 

[jwws007]

did a nationwide search today, people are asking from 22k to 60 k for the 89 Searay Express. Going to looking at an 89 Silverton Express this weekend that seems to be in very good condition. He's asking 29K