Where are boat dealers coming up with used values these days? I look them up on JD Power, but many are listed at 2-3 times what JD Power lists. Is there another boat "blue book" that exists for people who are not a dealer? Thanks.
There is one dealers use. There is nothing really availlable for general public. Can only look at asking prices.
The BUC and NADA guides are for late model mass produced cookie cutter boats. Lenders use them and even so, they are not accurate. Besides that, published price guides are useless for the limited production boats you’ve mentioned on other threads. They are too old and there’s too many variables in condition and equipment on older brokerage boats. You can have two of the same model 30 year old Hatteras’ docked side by side and one can be worth twice what the other is worth. Or one worth half of what the other is worth. However you want to look at it.
Yes. And that's what surveyors do...they inspect and assign a value for the buyer/owner and lender/insurer. What's a boat worth? That questions is purely based upon what the seller is willing to accept to let her go. Even asking prices often have little in common with an ultimate transaction price.
(1) Surveyors frequently assess the current market value as the same price on the Purchase & Sales Agreement. On one hand, they are right: if that is what Mr/Ms Buyer is willing to pay, then that establishes today's market value. On the other hand, I have often wondered what the value would be if the surveyors didn't have that information. (2) The most accurate storehouse of value is YachtWorld's Sold Boat prices. The caveat is that the information is only as accurate as the broker types in. Most are presumably honest, but builders are the most common "misrepresenters" in order to keep their market value inflated.
You may try yachtbuddha for rough trends, but don´t make conclusions from what´s sold on the actual value of your own boat or the one you are searching for. It gives a rough trend, but also shows how much prices vary allways depending on location, seller, buyer and condition.
I thought another value indicator is what an insurance company will cover you for. Example: I looked at a boat that had the entire bottom shaved and reconditioned, all the wood work had recently been refinished and the engines were serviced by J&T. The owner wanted the value of the boat PLUS all the money had had recently put into the boat. Even if I wanted to pay his price, the insurance company would not cover the boat up to that cost. They had a high book price and that was the limit
That is a new one on me. Cute, they even put their take on pricing with the upward facing green arrows "Great Deal" or the straight across horizontal arrow for "Fair Deal". Just like all of the car sites. Question is, Great Deal says who? Still, kind of cute.
I looked at one were he looked up the average asking price, then pulled out a folder where he had documented every penny he put into it for the past 5 years. Not just upgrades, everything including winter hauling, storage, winterizing, bottom cleaning and painting, wax and polish every spring, oil changes and even fuel. He was trying to recover everything on the list. It was a private sale because brokers wouldn't touch it.
Yes, there are those people out there. They should be banned from boat ownership, No one should truly know what they spend on a boat. If we did there'd be no boats in this world.
Same goes for airplanes. I just go to my happy place and write the check. Money can't make you happy, but boats and airplanes can.
This is accessible to subscribing brokers and surveyors only. I don't mind an occasional lookup if someone needs it.
Apropos of Yachtworld, am I the only one to find it much, much worse than it used to be not many years ago? I rarely look at it these days, but when I do, I can't help thinking it's one of the more awful websites around!
It is common to see listings stating "many upgrades and open check book maintenance. If upgrades are not recent, they don't add much value. Maintenance without receipts and invoices mean nothing, the very reason you hire a good marine and engine surveyor. A well maintain boat will be noticeable to you and surveyors.
