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Carvervirgin

RO# 32836

Posted - Sep 08 2018 :  13:40:33  Show Profile  Reply with Quote
I know there is a thread currently active about the price of boats. I am trying to sell my boat and I feel it is priced very fairly according to other boats of it’s age and model that are also for sale. I had a potential buyer state that I am way above the NADA value and felt the price was not fair. Does anyone have any ideas on how to counter such a perception?
Thanks
John
Bucket List, 2001Carver 356
Lake Champlain, Vermont



Edited by - Carvervirgin on Sep 08 2018 15:53:03

Homeport:

Golfman25

RO# 1239

Posted - Sep 08 2018 :  16:11:25  Show Profile  Reply with Quote
NADA is for cars. :)

Show him other similar listings. Try BUC for valuation.



Homeport: Algonquin Go to Top of Page

abalmuth

RO# 13885



Posted - Sep 08 2018 :  16:13:54  Show Profile  Reply with Quote
You may want to get some Comp's from Yachtworld if they reflect your pricing.

Carver Voyager 530 with Volvo 122's/610HP
Light travels faster than sound. This is why some people appear bright
until you hear them speak.........

Homeport: Huntington/Greenport, NY Go to Top of Page

Carvervirgin

RO# 32836

Posted - Sep 08 2018 :  17:00:18  Show Profile  Reply with Quote
That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.

Bucket List, 2001Carver 356
Lake Champlain, Vermont



Homeport: Go to Top of Page

abalmuth

RO# 13885



Posted - Sep 08 2018 :  17:22:50  Show Profile  Reply with Quote
quote:
Originally posted by Carvervirgin

That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.

That could lead one to believe that the NADA should stick to Motor Vehicles. Just saying


Carver Voyager 530 with Volvo 122's/610HP
Light travels faster than sound. This is why some people appear bright
until you hear them speak.........

Homeport: Huntington/Greenport, NY Go to Top of Page

JVM225

RO# 28365

Posted - Sep 08 2018 :  17:31:05  Show Profile  Reply with Quote
Problem with boats and NADA is there really aren’t enough comparable sales for exact makes, years and models to get a true assessment.
Like with anything else, a used boat is worth what buyers are willing to pay for it.


2002 Sea Ray 410 Sundancer
95 Eastern 22'
05 Maxum 18' Bowrider
C6 Corvette Convertible
68 GTO


Homeport: Farmingdale NY Go to Top of Page

Sandy

RO# 1159

Posted - Sep 08 2018 :  19:45:18  Show Profile  Reply with Quote
quote:
Originally posted by Carvervirgin

That was my response. You cannot find a single listing on Boat Trader or Yacht World that reflects the NADA value.



But then boats seldom sell for close to what brokers have them listed at.


Sandy

Homeport: The Vineyard Go to Top of Page

Bob J

RO# 181

Posted - Sep 08 2018 :  20:06:13  Show Profile  Reply with Quote
SOLD MY BOAT FOR OVER 12% RETAIL! WHY, BECAUSE IT WAS WORTH IT !

BOB J


Bob J

Homeport: Waretown, NJ Go to Top of Page

Carvervirgin

RO# 32836

Posted - Sep 08 2018 :  21:37:07  Show Profile  Reply with Quote
Bob J, how did you determine “retail “?

Bucket List, 2001Carver 356
Lake Champlain, Vermont



Homeport: Go to Top of Page

JVM225

RO# 28365

Posted - Sep 09 2018 :  07:43:45  Show Profile  Reply with Quote
Yachtworld and Boat Trader listings aren’t a great guideline either. Some of those boats listed have been listed a pretty long time. Many that have sold have gone for a different sale price than it was listed for.
Best bet is to see if a broker can get you real selling prices to compare to.


2002 Sea Ray 410 Sundancer
95 Eastern 22'
05 Maxum 18' Bowrider
C6 Corvette Convertible
68 GTO


Homeport: Farmingdale NY Go to Top of Page

smitty477

RO# 31913



Posted - Sep 09 2018 :  08:23:19  Show Profile  Reply with Quote
quote:
Originally posted by Carvervirgin





NADA has no real value in determining what your boat might sell for. On YW there are more than half a dozen boats like yours listed currently - their condition and pricce will give your first clue as to where you may need to be. Checking on how long they have been listed would be another check on prices that sell.
Agesssive pricing and a very good marketing exposure is needed to sell a boat more quickly especially in the off season.

FWIW - we had sold two boats that were listed here on Boatered about 3 years back within one season. At the time we listed there were a few boats that were on this site a year already and they are still there now.In order to get the boat sold it needs to be the most desirable boat since many of these listings sit for many years.

Good luck with your sale and future adventures



Homeport: NY Go to Top of Page

Golfman25

RO# 1239

Posted - Sep 09 2018 :  10:29:53  Show Profile  Reply with Quote
quote:
Originally posted by JVM225

Yachtworld and Boat Trader listings aren’t a great guideline either. Some of those boats listed have been listed a pretty long time. Many that have sold have gone for a different sale price than it was listed for.
Best bet is to see if a broker can get you real selling prices to compare to.



Yeah. You need the keep any eye out. You'll have $30000 boats listed at $50000 and sit "for sale" for months. When one pops in at $30000 you'll see it go quickly. That will give you an idea.



Homeport: Algonquin Go to Top of Page

Arnold

RO# 12330

Posted - Sep 09 2018 :  19:02:21  Show Profile  Reply with Quote
NADA does not specify the general condition or the hours on the engines

Arnold

Homeport: San Francisco, CA Go to Top of Page

GregR

RO# 33547



Posted - Sep 11 2018 :  19:15:42  Show Profile  Reply with Quote
I see NADA as a means for the government to collect more on taxes, it's always high. Your best bet is to find a broker who can show you comps for the past 12 to 18 months. And if your perspective buyer thinks the price is too high, tell him to make an offer and start negotiating. it's been my personal experience when a prospective buyer starts off of something like that they're not really serious or they're looking for a steal.

Formerly "MrsRobinson" on here
2000 Monterey 302 - sold
2001 Regal 3780 - sold
1995 Sea Ray 330DA - sold
2004 Maxum 2400 SCR - sold
1996 Maxum 1900 SCR - sold

Homeport: Stafford, VA Go to Top of Page

Bob J

RO# 181

Posted - Sep 11 2018 :  19:32:19  Show Profile  Reply with Quote
[quote]Originally posted by Carvervirgin

Bob J, how did you determine “retail
Don't remember who I used but recall describing my vessel with the condition, "ALL" added options. Of course Mfg., model & year. Don't recall if pix were requested. After all said & done; three columns were shown on site, listing retail, low retail & high retail. High retail for my vessel as described was $46,650. I sold the vessel (sob,sob)
for$52,500. I'd be willing to buy back at $53K plus!
BOB J


Bob J

Homeport: Waretown, NJ Go to Top of Page

smitty477

RO# 31913



Posted - Sep 12 2018 :  09:00:12  Show Profile  Reply with Quote
quote:
Originally posted by Bob J

[quote]Originally posted by Carvervirgin

Bob J, how did you determine “retail
Don't remember who I used but recall describing my vessel with the condition, "ALL" added options. Of course Mfg., model & year. Don't recall if pix were requested. After all said & done; three columns were shown on site, listing retail, low retail & high retail. High retail for my vessel as described was $46,650. I sold the vessel (sob,sob)
for$52,500. I'd be willing to buy back at $53K plus!
BOB J



A quick search turned up a few possibilities....

https://www.yachtworld.com/core/listing/cache/searchResults.jsp?cit=true&slim=quick&ybw=&sm=3&searchtype=advancedsearch&Ntk=boatsEN&Ntt=&is=&man=Silverton&hmid=0&ftid=0&enid=0&type=%28Power%29&fromLength=37&toLength=38&fromYear=1992&toYear=1994&fromPrice=&toPrice=&luom=126¤cyid=100&city=&pbsint=&boatsAddedSelected=-1



Homeport: NY Go to Top of Page

VTBoater

RO# 30718

Posted - Sep 15 2018 :  07:55:51  Show Profile  Reply with Quote
Hey guys, my head is still spinning from selling the Silverton last night and how little it was worth. I never checked the NADA value thinking it would not reflect everything I did to it. Checked the selling prices of similar boats only. I started the selling season out in the upper 30's, and when I dropped to the mid 30's I finally got some interest. Lost out on a couple sales for various reasons. The current buyers had offered full price of 29500 pending survey. The survey went very poorly. The side decks showed signs of moisture. My hardtop had soft spots. It rained like crazy the night before and water leaks were found in several spots. So the surveyor considered it in only fair condition and valued it at 22000...
So I decided to stop the bleeding and just let it go for 22500. I was shocked at how none of the work I did added any value at all. Just last season I spent over 7 grand on all new exhaust, custom boarding stairs, all new motor mounts, ect… It seems the value would have been exactly the same with rusty looking old exhaust. I got hurt very badly overall, all the thousands of dollars and hundreds of hours of work meant nothing.

So my advice to you John would be to get your own survey done now. It will tell you if you have any issues you dont know about, and give you a current market value that is real and not based on wishfull thinking.




1988 Silverton 37 MY

Homeport: Colchester, VT Go to Top of Page

Golfman25

RO# 1239

Posted - Sep 15 2018 :  09:47:26  Show Profile  Reply with Quote
I think moisture and soft spots are more detrimental than mechanical or system issues. Engines can be replaced. And then you have a new engine. Or new canvas. New ac. Etc. With hull and deck issues you're chasing something only to "fix" it.


Homeport: Algonquin Go to Top of Page

Nancy

RO# 4224

Posted - Sep 15 2018 :  20:33:19  Show Profile  Reply with Quote
Wow, James, that's really tough. You put so much work into that boat. Are you looking for another one or taking a break for a while?

1995 Albin 28TE
Cummins 6BTA5.9 250

Homeport: Malletts Bay, Lake Champlain Go to Top of Page

VTBoater

RO# 30718

Posted - Sep 15 2018 :  23:19:27  Show Profile  Reply with Quote
I am not certain what comes next. The smart thing would be to get out of boating. It is just so expensive of a hobby. It is hard to give up though.

1988 Silverton 37 MY

Homeport: Colchester, VT Go to Top of Page

VTBoater

RO# 30718

Posted - Sep 15 2018 :  23:22:44  Show Profile  Reply with Quote


1988 Silverton 37 MY

Edited by - VTBoater on Sep 16 2018 20:08:06

Homeport: Colchester, VT Go to Top of Page

JVM225

RO# 28365

Posted - Sep 16 2018 :  19:24:21  Show Profile  Reply with Quote
quote:
Originally posted by VTBoater

Hey guys, my head is still spinning from selling the Silverton last night and how little it was worth. I never checked the NADA value thinking it would not reflect everything I did to it. Checked the selling prices of similar boats only. I started the selling season out in the upper 30's, and when I dropped to the mid 30's I finally got some interest. Lost out on a couple sales for various reasons. The current buyers had offered full price of 29500 pending survey. The survey went very poorly. The side decks showed signs of moisture. My hardtop had soft spots. It rained like crazy the night before and water leaks were found in several spots. So the surveyor considered it in only fair condition and valued it at 22000...
So I decided to stop the bleeding and just let it go for 22500. I was shocked at how none of the work I did added any value at all. Just last season I spent over 7 grand on all new exhaust, custom boarding stairs, all new motor mounts, ect… It seems the value would have been exactly the same with rusty looking old exhaust. I got hurt very badly overall, all the thousands of dollars and hundreds of hours of work meant nothing.

So my advice to you John would be to get your own survey done now. It will tell you if you have any issues you dont know about, and give you a current market value that is real and not based on wishfull thinking.






It really $ucks that you dropped 7k just last year and didn’t realize any increased value for it when selling.
Unfortunately, things like a working exhaust and properly functioning motor mounts are expected by buyers of running vessels. On the other hand, a bad exhaust or broken motor mounts would probably subtract a significant amount from a boat’s value.
Custom items like the ladder you installed most often provide the greatest benefit to the person that installed them, but don’t always represent an added value to a buyer.
Occasionally, they can even make a boat less desirable.
The good news is that you were able “cut your losses” to sell a boat you were looking to get out of. Lots of people aren’t as lucky.


2002 Sea Ray 410 Sundancer
95 Eastern 22'
05 Maxum 18' Bowrider
C6 Corvette Convertible
68 GTO


Homeport: Farmingdale NY Go to Top of Page

Carvervirgin

RO# 32836

Posted - Sep 17 2018 :  21:00:30  Show Profile  Reply with Quote
James/VTBoater,
Thanks for the advice. I feel for you man! I have witnessed first hand your commitment to that vessel. I admired your courage in tackling those projects. The finances suck and that's not your fault, you should be proud.
Who did the survey on your Silverton for the buyer? I may consider having one. If you get lonely you can always come and work on my boat:)


Bucket List, 2001Carver 356
Lake Champlain, Vermont



Homeport: Go to Top of Page

VTBoater

RO# 30718

Posted - Sep 18 2018 :  10:45:53  Show Profile  Reply with Quote
It was Captain Stan Walker out of Duxbury. I think his prices are less than the guy out of NH that the marina people usually recommend.

He places an exact current value on the boat for insurance purposes.


1988 Silverton 37 MY

Homeport: Colchester, VT Go to Top of Page

JeffN

RO# 3672



Posted - Sep 20 2018 :  11:24:52  Show Profile  Reply with Quote
Is there no place online to see 'solds' for comps such most items on Ebay? There are so many variables with boats for condition. I still say, to the contradiction of many in BE, that if I were buying or selling, I'd survey my boat so it's current and you have an objective opinion on 'fine' condition or issues. I'd be prone to view a boat with a current survey before an owner described condition. And guys, this is NOT to substitute a buyer's survey when he's ready-it's to compliment it.



When I was 5 years old, my mother always told me that happiness was the key to life. When I went to school, they asked me what I wanted to be when I grew up. I wrote down "happy." They told me I didn’t understand the assignment, and I told them they didn’t understand life. ~John Lennon

Homeport: Vero Beach FL Go to Top of Page

smitty477

RO# 31913



Posted - Sep 20 2018 :  12:10:39  Show Profile  Reply with Quote
quote:
Originally posted by JeffN

Is there no place online to see 'solds' for comps such most items on Ebay? There are so many variables with boats for condition. I still say, to the contradiction of many in BE, that if I were buying or selling, I'd survey my boat so it's current and you have an objective opinion on 'fine' condition or issues. I'd be prone to view a boat with a current survey before an owner described condition. And guys, this is NOT to substitute a buyer's survey when he's ready-it's to compliment it.



In my experience the owners surveys completed on behalf of a potential buyer had little or no value - maybe negative value.
When I reviewed some sold boats data on Yachtworld the condition and pictures did not represent the boats that I had physically viewed myself so it was somewhat misleading.



Homeport: NY Go to Top of Page

smitty477

RO# 31913



Posted - Sep 20 2018 :  12:11:13  Show Profile  Reply with Quote
quote:
Originally posted by JeffN

Is there no place online to see 'solds' for comps such most items on Ebay? There are so many variables with boats for condition. I still say, to the contradiction of many in BE, that if I were buying or selling, I'd survey my boat so it's current and you have an objective opinion on 'fine' condition or issues. I'd be prone to view a boat with a current survey before an owner described condition. And guys, this is NOT to substitute a buyer's survey when he's ready-it's to compliment it.



In my experience the owners surveys completed on behalf of a potential buyer had little or no value - maybe negative value.
When I reviewed some sold boats data on Yachtworld the condition and pictures did not represent the boats that I had physically viewed myself so it was somewhat misleading.



Homeport: NY Go to Top of Page

pocketchange

RO# 13257

Posted - Sep 21 2018 :  08:21:08  Show Profile  Reply with Quote
Boat US provides a service to give a value on a boat. They don't ask a lot of questions, but in the couple times I have used them they appear to be pretty close.

https://www.boatus.com/buyer/valueform.asp



Homeport: Beacon Cove Marina Go to Top of Page

smitty477

RO# 31913



Posted - Sep 21 2018 :  10:41:47  Show Profile  Reply with Quote
There are a number of ways to check on sold boats and boat values - I have found all of them to be lacking.YMMV
Look most of them up here...

https://blog.boattrader.com/2017/08/ultimate-cheat-sheet-used-boat-classifieds.html



Homeport: NY Go to Top of Page
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