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Posts: 117
| I posted earlier, and I think some people misunderstood my post--I am considering selling my boat, but have not made my mind up on this yet. Part of that decision is figuring out what I might be able to get for my boat in sale or trade. I have checked the NADA blue book value for my boat, as well as searched various online places where similar boats are listed for sale. The problem Im finding is that there is a huge disparity between the NADA value and what people are asking for the same year/model, with NADA value as much as 50% lower than common asking prices, and im even finding wild variation in asking prices. I have been told that a lot of people consider NADA values inaccurate, and I dont know what goes into them so have a hard time saying one way or another. I also can only see asking prices for various boats, so I dont know what they are actually selling for. There are virtually zero similar boats for sale in my region at any given time, so Im having a very difficult time researching any local or regional comparable boats.
How do you guys go about figuring what a reasonable price is for a boat given this? And, is there some sort of rule of thumb you can figure on with a private party sale value vs a trade-in value?
Thanks
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Posts: 32958
Location: Rhinelander, Wisconsin | Two to 3K over blue book to start if the boat is in excellent condition. Or ask a dealer for trade value and add 12 to 15%. |
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Posts: 1638
Location: Minnesota | when I bought my new boat I traded it in I thought they gave me a fare price. I could have got more if I sold it out right. its something you have to deside for me I found a boat I wanted so I bought it . if you have a un common boat you might have to ask less if you want to sell it |
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Posts: 117
| Thanks guys--thats really what I was looking, if as a seller or buyer you expect to get or pay in the neighborhood of book value, or if boats typically go for significantly more. Sounds like the NADA value is not what people really expect to pay or sell for, which answers my question.
Regarding rarity of the boats influencing their value...I would have thought relative rarity of the boats would drive value UP, not down? Thoughts on this?
Edited by Macintosh 8/26/2013 7:38 AM
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Location: Contrarian Island | do a search on craigslist (adhuntr.com lets you search all of c list) and boattraderonline.com and walleyecentral and see what other guys are asking for their boats that are of similiar age/motor/accessories etc... not too hard to figure out what your boat might be worth... |
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Posts: 117
| I did--there wasnt a single similar boat for sale within 500 miles of me last time I looked. Today, if I count any boat made by this brand that is more than a rowboat and less than a fully enclosed trolling setup with full cover, riggers, etc, there are 7 including the "few local results, try these nearby ads"...and maybe 2 or 3 of those are even similar, none the same model or similarly powered. If I do the exact same seach in the minneapolis craigslist the results go onto the 3rd page before they are even a week old with many comparable boats. If I search for the model name on adhunter, there are 2 results I get that are the same model and within a year--one listed at 11k, theother 16.9k. Hence my confusion.
I think anyone shopping for one of these boats in my area is going to have a hard time finding a boat even in the region--I was looking at buying in the upper midwest even given the long drive (minneapolis is a 23 hour drive for me according to mapquest). How much do you think value varies by region, given the scarcity around me?
Edited by Macintosh 8/26/2013 11:25 AM
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| Depends on demand, there might a reason there are not many for sale in your area. BR |
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Posts: 373
Location: Maine Township, MN | Might consider asking the loan officer at your bank. If the potential buyer is financing their purchase, they would do the same thing. |
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How do you find a realistic value for a boat?