Nada values

[Hollada]

Been looking at used boats online (craigslist, walleye central, etc) for a while now.  Seems whenever I check boats price against NADA values, the boat is priced 30-50% over NADA retail.  Is NADA wrong, or do these boats end up selling for that much lower than the seller priced them at? 

[Mike S.]

NADA is just a guideline. The boats will sell for whatever a person is willing to pay for them. All you have to do is list enough extras, and the bank will cut you a check for just about anything, as long as they get around that magic number.  For some reason, values can differ tremendously just by your location.

As an example, I refinanced my boat last year. The lady booked my 13 year old Skeeter at $26,000.  Nobody would pay that for it, not even me. But, that's it's value to the credit union. They will put a value on the boat, motor,  and trailer separately. Then they add them up and you've got your value, when it in most cases states that the value shown includes boat, motor, and trailer.

[Got Fish??]

Certain boats are getting popular with fishermen. The market sets the price. Motors, and haul type or brand name. Will up the antie on boats. If you like it and can afford it. Then get it. Life is too sort.

[t-bone]

Getting a Marine surveyor to value the boat is a good thing for buyers to do. They will go over every inch of the boat and provide a complete report. Too many banks get burned by over valued boats and many are requesting that this has to be done before they will finance. it. It costs about $250 range.

[Waterfoul]

I've been telling people for years, the "blue book" value for boats is a joke.  You are much better off pricing your boat at what the market will bare.  You need to do some research to see what other boats like yours are listed at, and if possible what they were sold for.   You can look at the book or NADA for an idea, but chances are it's not what your boat will sell for.