Selling price for '07 290, buying price for '06-'07 340?

You are going to get a bunch of opinions on this one.

However, "post '08 subprime boat business melt down" screws with the pricing dynamics even more than local conditions did. UNless someone has direct experience in your market with the identical models, the real value of the answers and opinions on price is going to be worth just what you paid for it.............nada.

Here is why I don't think pricing opinions from out of your direct market are worth the time to read them.......condition means everything on used boats. Every seller thinks he has a "10" but few are, yet the 10's that do sell sell higher by a huge % than does the average boat. Then there is the demand in your area. It doesn't mean squat that a 34DA brought $X in south Fla where they are hot items since they are about as large as you can dry stack, when a 340 might not be a high demand boat in your area. Likewise, in the lower Gulf coast, 290AJ might be a hot seller because fishing is usually in 3' or less seas, when in your area, they may be cold since daily fishing conditions may be 6'+. Now add current lending practices to the mix and the demand curve gets screwed around further since it takes a buyer with a minimum of 20% down to even get a credit application read by a lender, and that has taken a lot of buyers out of the market.

THe best aproach to buying is to put your feet on the line, make a fair offer (what the boat is worth to you) with a firm contract containing appropriate contingencies, write a sizeable deposit check and tell the broker if he wants to sell a 340DA, then go to work because there are lots more for you to go look at tomorrow.
 
This is going to be a patience game. Considering the 06 - 340 was probably bought in the low 200's. $150k would be a good price. 06 - 340 @ $125k in mind is probably a repo.
 
Not that it pertains particularly to this thread, it is just that I am starting to see it more, why does anyone care if it is a repo? Obviously there are things to take into account, like what type of care was taken of the boat, but why not buy the cheaper of two identical boats (if and only if they are in like condition)
 
I wasnt depressed about boat values till I read this post .... I dont envy you trying to sell a nearly new boat in this market. Mines one year older and I had this purely emotional image of it being worth more than the numbers you quoted for yours.

Guess its time to go have a cold one on the boat and cheer up again. I dont care how much "paper value" my boat no longer has... My enjoyment is worth every penny...

gotta keep that mantra in mind

:)
 
I think we are ultimately looking at a difference in values of the two boats. If the 340 is worth $147k and your boat is worth $74k. Using an apple to apples comparison. If you go down another 10% you are looking at $132k and $67k respectively for each boat. You can debate the valuation methods. But NADA - no equipment and the right engines get's you in the ballpark. Don't have access to ABOS - but NADA is at least a measuring stick.

As far as repo - boats there are some good buys - no question - but the boats are not usually a 10. That doesn't mean they can't be made a 10 and that you can still come out way ahead.
 
biggerboatitis said:
Hello,

New member, 2nd post.

...The wife feels she must have a 340 (even though my butt still hurts from the rape that occured when we bought the 290 new in late 2007, a leftover). So we can go to Martha's Vineyard, etc..., in her words "a more sea-worthy boat" even though we spend most of the rest of our time in the Barnegat bay with an occasional trip to AC (on the ocean). The first time we went to AC in the ocean the seas were about 6 ft. and we took some over the bow, didn't bother me, but she (and the dog) were a little nervous). I know the 340 is a classic boat that is very popular, but heavy, slow (compared to the 290) and an older hull design, a lot more expensive, heavier on gas, etc...

That said, she's got to have it.

Bob
Click to expand...


Well from this paragraph I would say look for an older 360, 370, 380, 39, or 40. Believe you me you can fine some good deals so once you sold the 290 you would not feel raped so much.

I have nothing against the 340 (I even had one surveyed), but once I went on board a 370 I wanted a boat with the wider beam, and a bit heavier weight. I am berthed next to a 340 and when I go on it I can tell a big difference between it and mine just from the rocking motion in the slip.

Anyway it goes before you pull the trigger, have a look at some of the ones I mentioned above.

Good luck

:thumbsup:
 
biggerboatitis said:
You obviously don't know my wife! If only it were that easy. C'mon man, you gotta know what spoiled brats Sea Ray owners are ;-).

Wow, you are from Brick, pretty cool. Did you buy from MM Brick? A lot of changes there over the past year. We had a slip there last year but moved to Wherlan this winter and will be there this summer as well. Much better price/amenities and we spend more time in the bay anyway (Lot of weekends at Tices). Going through the canal and slow speed zones on the Manasquan gets old.

Thanks for the posts.

Regards,

Bob
Click to expand...
Ha, we probably were on the same dock. F-dock? I bought my boat there so I'm staying until the warranty lets up. I like that it's close to the Ocean. Let me know how you like Wherlans. It's funny how your wife is the one who want's you to get a 340DA and it's me who's trying to convince my wife to get a 340DA. After the depreciation hit however, I think I'll stay with the 300DA. We really do love everything about the boat so it really doesn't make much sense to go bigger. I hope to see you at Tices this year. Regards, Brian
 
What you used to see with Sea Rays- was 20% the first year (Dealer Profit) then - 5% depreciation per year for 5 years - and then the popularity & shape of that particular model would really come into play after 5 years as to what the value of the boat might be. Observation on larger cruisers - Stern Drives take a bigger depreciation hit than V-Drives and Diesels tend to hold their value better. I know a guy on my dock bought a 96 - 330 for $116K w/o a generator in 97 as a leftover. He sold it in 07 for $85k - it took 2 years to sell it. This boat was immaculate and had a generator installed. However the generator was installed by Sea Ray for free - that is a long story. This boat was cosmetically a 10. However the cabin had some dated colors. Another guy on our dock had a 98 - 310 with outdrives. He paid $119k for his boat in 98 and sold in 06 for $82k. The boat was a 7 - and had some mechanical issues and the drives had some significant corrosion. I boat in a freshwater area.
 
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I too would agree going with an older 37' or 39'. Go look at one and see how much better that bigger beam width is. I bet you could get one for little money out of your pocket after you sell your 29'.

Doug
 
I wouldn't let the wife be the captain of your ship unless she is writing the check., You are going to take a huge haircut obviously if you being buried in your current boat. All your doing is selling low buying low and you will never get ahead of the depreciation curve that way. Hence, the never buy new which it appears you have caught on to and kuddos for going for the 06 340vs a new one. I would try and give the wife a tic tac valum and the dog a tranquilizer and stick with the 290 you have and save the $ if possible. Not preaching, I just am in the banking business and see these mistakes made all the time.


CG
2004 280da
496
 
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