Repo'd 2004 390 Sundancer

carterchapman

carterchapman

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TECHNICAL Contributor
Mar 25, 2008
5,526
Lake Chickamauga/Marietta, GA/Ft. Myers, FL
Boat Info
2006 Sea Ray 58 DB
Engines
MAN CRM V8-900s, Twin Disc Drives; Onan 21.5 Generator
Has anyone bought a boat from www.yachtauctions.com?

It appears that you can't do a full survey other than running the engines and the equipment.

I've found a 2004 390 Dancer locally on their site for what appears to be 75% of NADA value. I realize "buyer beware", but how much hull damage (wet core issues) would you expect to see on a 4 year old fresh water (inland lake covered slip) sea ray? Obviously I would assume it's not had its bottom re-done in the 4 years its been on the water.

I could have a surveyor do a check of compressions, genny, vacuflush, A/C, etc.

Are NADA values realisitic? Or are boats selling far below them in this current climate?

Do they accept bids lower than their published "minimum bid", or do they hold on to the boats waiting for an offer that meets their minimum?

Thanks in advance for your thoughts.
 
I think the general consensus is that the NADA prices are significantly higher than one can generally expect to get for their boat. The experts will tell you that it is highly market, location, and vessel specific, but I think you'll find that 25% off NADA on a 390 in this market is probably NOT a good deal, especially if it has gassers (probably does on a lake).
 
try to really do some research because I believe that site sells boats from all over that may not be on the premesis.
If you read thier page it says something like "you are welcome to visit ONE of our facilities"...... which tells you they are all over.

I know of someone else who had seen a boat on thier site and ended up finding it direct and not only got it cheaper but got to fully survey the boat as well.

Besides thats a crock of sh*t anyhow, what if your bank requires the survey? How do they expect people to purchase it then?
 
Hampton said:
I think the general consensus is that the NADA prices are significantly higher than one can generally expect to get for their boat. The experts will tell you that it is highly market, location, and vessel specific, but I think you'll find that 25% off NADA on a 390 in this market is probably NOT a good deal, especially if it has gassers (probably does on a lake).
Click to expand...

Thanks John,

Yes - it has 8.1s...

Carter
 
Could NADA numbers be developed from out of date data? In a very fast falling market (free fall), how could it be otherwise? Would this be even truer when the items in question are already fast depreciating luxury "toys" that no one really NEEDS? What (Who?) is NADA, Kelly, etc. relying on for data? Could it be brokers and used boat lots like Skipper Bud's and MarineMax? If so, do you think they have a vested interest in higher numbers or lower numbers?

As a bit of an aside why are both Brunswick and Marine Max trading at just about 1/10th of their value just one year ago? That would be a loss of just about 90% in one year- not to put to fine a point on it!!!

Shop 'til you drop---Caveat Emptor---Don't let your spouse see this if you want to buy the boat..
 
Now that I have poped off-- it looks like a beautiful boat. I agree that at that age you probably would get what you see. I'd talk to the banks first to see what they would lend on that model and year-even if it were to be a cash deal. Their answers might help guide you. I think gas is great on that boat. If you use it 70 hours or less/year. Ask Mercruiser what it would cost to drop in one engine and after you come up with your best number subtract their answer as a bit of insurance.
Be prepared to walk. The market is flooded with good boats right now. You are in the catbird seat-take advantage. Lastly, set NO DEADLINES. You negotiate against yourself when you do. Good luck!!
 
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Can somebody post the details? I can't open it up here. From memory, that boat has been listed at about 225 on Yacht World. I had a buddy just sell one to another buddy for about 185. Great deal, great boat.
 
Where is the one located you are looking at?

A guy at our marina purchased a 2001 or 2002 410DA this summer from Commomwealth boats.....he kept offering 150K...and they finally took it.
 
Bottom Line said:
Where is the one located you are looking at?

A guy at our marina purchased a 2001 or 2002 410DA this summer from Commomwealth boats.....he kept offering 150K...and they finally took it.
Click to expand...

Jeff,

Its on yachtauctions.com

Carter
 
Just my $0.02 worth
I purchased my 350 EB in Aug-Sept 2006 as a repo from National Liquidators.
Bid was accepted contingent upon sea trial and full survey.
As far as I know all auction bids are held this way from my research.

I viewed the boat 3 weekends in a row and went over all of the systems myself as the boat was left open and not under guard or lock and key as most are now.

That said, I bought the boat for about 30K under book value.
There are deals out there.

As far as an offering under minimum bid, right now the banks and wholesalers do not want to be in the boat business just as they want to get out of the real estate home ownership business.

Good Luck
 
carterchapman said:
Jeff,

Its on yachtauctions.com

Carter
Click to expand...

Bottom Line said:
Carter...arent they listed by states on that site? The reason I asked is because there was one listed at 182K min bit...I believe it was in Georgia. Is that the one you are looking at?
Click to expand...


Inquiring minds want to know... I was looking also and that is one of the ones I came up with, the boat in Georgia. They are listed by state so knowing which 390 you are looking at is a guessing game, unless one just goes by the 2004 date and 39 foot.
 
It has got to be the Georgia one. I really like the 390's, but for me, I would want diesel when I move up out of the 340. That price seem right - so, bid LOW.
 
Yes - that's the one - the Georgia 390. the name says Atlanta, GA, so I'm assuming it's on Lake Lanier. I'm going to see if its still available and look at it when I return from this trip.

$182,000 is about $44,000 under low NADA retail.

Carter
 
Georgia 2004 Sea Ray 390


In my opinion the minimum bid seems a bit high to me? the listing also states it does not have a generator, even if it had a generator. I would probably only offer $130K and need a survey. if they would not respond to this I would let them know I might be persuaded to go to $140K depending on the survey results. :huh:

Note: The engine picture is upside down

Just my .02 cents, but since the new buzz word is "Change," I have a new slogan, with '"Change" for change!' :huh::smt043

You may not need or want a generator, but for me on a boat this size I want a gen set

General question here, with no generator does that also mean no air conditioning
icon5.gif


Good luck which ever way you go. :thumbsup:
 
I bet it has A/C. Ragboats commonly have A/C but no genset.
 
Carter...where do you boat at? I know of a 2004 380DA for sale....could maybe be bought for 160-165K....never slept on...less than 100 hours on engines (8.1's). This boat is in Oklahoma.... PM me if interested.
 
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