Boat Value

[TayTay]

So I looked up the value of my boat on NADA today and it seems higher then it was last time and way higher then what I thought I could ever get for it. Has anybody else noticed an increase in boat value recently? I will list everything that I put on the NADA and the price it gave me and I would like to see what you guys think and what you think I could really get for her.

2005 Supra Launch 22SSV
Bimini Top
Boat Cover - 20 ft. thru 25 ft.
Depth Sounder
Battery Charger - Dual 10 amp
Stereo - am/fm CD player w/4 speakers
Batteries - Dual w/Switch
Cockpit Heaters
Fuel Injection
Propeller / Stainless Steel (4-Blade)
Swim Step - Fiberglass
Trim Tabs / Hydraulic
Trim Indicator
Cruise Control
Wake-Board Racks
Wake-Board Tower
Wake-Board Tower Speakers
Water Ballast System

Average Retail is ~$43,000

That just seems really high. I figured if I was going to sell it would be between 30k-35k

What do you think???

[KG's Supra24]

43 would be something else!! Boat prices are hard to gauge because they seem to be all over the place. I always assumed the high prices were because people owed on them. Realistically I think you were closer with your 30 to 35 ballpark.

Did it not ask about hours?

[docdrs]

my .02 , but I would assume thats for a brand new 2005...as I could have picked up a brand new 2009 for that about a year ago.....I see no hours listed so that why I'm saying this........as also no warranty

[mapleleaf]

pretty sure they didn't ask if a tow rope had been up against the hull either!!! lol
Sorry for the low blow, when I NADA'd my "antique" last yr I knew it wasn't accurate, its like they base it on mint condition and accesories.....

[TayTay]

Ya, I felt it was very high. It lists what an average retail boat should be like and it definitely isn't brand new. It also doesn't ask for hours and I find it very hard to put a value on a boat without the hours. Mine has about 270 on it, so not too terribly high. I guess a boat is worth as much as someone is willing to buy it for, right?

You guys should put yours into NADA and see what comes out. I wonder what drives those numbers? You would think the economy would actually drive the price down. Most people aren't willing to pay big bucks for these right now.

[Fman]

My 2008 22 Nada was $48-$55k (low to high retail), but I would probably be lucky to get 43-44k. If I were to put it up for sale I would ask $44k and take $42k for it. Used boat sales are also harder for people to get financed, and the interest rate on boat loans right now is very high. The cheapest loan I could find with 835 credit was 6.99%, and the average was 11%. I also have 231 hours on the boat and NADA does not factor in any of the hours. I purchased the boat in Nov of '08, so my hours are a little bit on the high side.

If you are willing to sit on it and see if the right buyer comes along then you could probably ask a higher price.

This also goes for MSRP on new boats, look at the MSRP on a MB Sports Widebody $63,500 without trailer. They are selling for $53-55k with a trailer at the local dealer by my house. Its a great time to buy a new boat, but not a great time to sell a used one. Especially with new boat prices dropping.

[TayTay]

Fman, that all makes sense. Im not looking at selling, just curious what peoples input was about the value. You would think NADA would be follow what the market is doing, you know? I figured if I was going to sell mine I would ask 35 and take between 30-35. Like i said though, im not selling her.

[Fman]

Fman, that all makes sense. Im not looking at selling, just curious what peoples input was about the value. You would think NADA would be follow what the market is doing, you know? I figured if I was going to sell mine I would ask 35 and take between 30-35. Like i said though, im not selling her.

I agree, I dont think NADA has been adjusted for the economic conditions we are still in. The NADA guides were probably more accurate 5 years ago.

[DAFF]

I think the NADA values are more for the insurance side of things. Lets say you can sell your boat private for 33-35k. But in the case your boat is detroyed or stolen now the insurance co needs to replace it at fair market value.

At a higher end boat store the NADA would be on target.

[TayTay]

That makes sense. When I bought my boat and insured it, they asked me how much i wanted to insure it for. I think it did 38k for the boat and 2k for the trailer. That was one of my points though, two years ago the boat's NADA was right around 40k (with trailer), now it is at 43k. I talked to a co-worker of mine who has a 2008 Reinell and he said since he bought his boat, that NADA has gone up as well. It just doesn't make sense to me. I don't know....