NADA Value

[f1bbs7]

Hello,

I was wondering if someone can help me understand something. I just priced out a 2000 Response LX on the NADA web page, and it appears to be very low relative to the current market place, what gives with this site and why do so many people use this site as the baseline in pricing their boats?

It does not seem feasible to follow this guide in my eyes, or are all the boats simply overpriced? Simple supply and demand curve tells me they are priced higher for a reason.

Thanks for any input

[SmoothWaterMan]

Personal opinion is that unless you're buying/selling a car or truck (where NADA owns the market), then they don't have a clue.

Peter

[99response]

Well you have trailer value you have not accounted for and also NADA does not really add value for the upgrade from the 310 carby to one of the fuel injected motors.

Also regional differences play a big difference in used values.

-Chris

[Bobby Light]

NADA has no clue, don't go off that. You're better off looking on boattraderonline.com, or onlyinboards.com to see what the market is giving them.

[srintx]

Being in the Auto Industry...not BOAT, I can say this...NADA is published in 2 forms 1 is a book that is for the public and one for dealers only and the website.

The website uses information that is gathered over a 3 month period, to give you what is supposed to be the current market data???

So, the information you are seeing is still based off the winter sales data which, not as many boats sell in the winter as would spring/summer.

Something you might check out is blackbookusa.com...that's what I use to help determine vehicle values. Just not sure if they are for "Dealers Only"

Hope this helps???

[Bill_AirJunky]

When I was using the NADA guide to price boats I found prices in the market were higher than the guide. I did not see a lot of boats selling at the time & assumed we were in transition to a buyers market due to the down economy.

Later I found that you should price the boat & trailer separately. This might account for $2000 or $3000 of the discrepancy. But I saw a lot more than that at the time (late summer of 2007).

Shop around a bit & you will find different markets command different prices, even just a few hundred miles apart.

Edited May 7, 2008 by Bill_AirJunky

[srintx]

NADA has no clue, don't go off that. You're better off looking on boattraderonline.com, or onlyinboards.com to see what the market is giving them.

DITTO...the true value of anything is what someone else is willing to pay, put a price on it based off your research and in 30 days if it don't sale move your price point

[Killer]

I think NADA in most cases is pretty accurate, especially with the 90s malibu's. the ones I see for sale are for sale because THEY'RE TOO EXPENSIVE, do a search on nada for a 98 malibu sportster and you'll see what I mean... guys asking 2x nada pricing??? no wonder it is still for sale! like a lot of boats I see for sale on the trader, bu crew, TMC, etc... they are over priced for today's market and if they went with nada pricing they would probably be selling...

I also don't think you can't go to the trader sites and find out what items are worth for the simple reason they are ASKING those prices and if they sell the item there is no telling what it sold for and its more likely they sold for less than asking...

I find ebay a good gauge of value in older boats, high exposure and you actually get to see what people are paying for private sales - dealer boats are different IF the dealer actually services the boat...

I also disagree with the distance. west coast vs east coast for sure.. florida vs michigan absolutely, but a boat in NY that is priced signifigantly different from one in Ohio is ludacris.... I am prepared to drive nearly 2000mi for the right boat....

at the end of the day I think there is going to be a wake up for a lot of boat owners and you'll start to see some of them off loading their "toys" for actual market value....

my 2

[Bobby Light]

I think NADA in most cases is pretty accurate, especially with the 90s malibu's. the ones I see for sale are for sale because THEY'RE TOO EXPENSIVE, do a search on nada for a 98 malibu sportster and you'll see what I mean... guys asking 2x nada pricing??? no wonder it is still for sale! like a lot of boats I see for sale on the trader, bu crew, TMC, etc... they are over priced for today's market and if they went with nada pricing they would probably be selling...

I also don't think you can't go to the trader sites and find out what items are worth for the simple reason they are ASKING those prices and if they sell the item there is no telling what it sold for and its more likely they sold for less than asking...

I find ebay a good gauge of value in older boats, high exposure and you actually get to see what people are paying for private sales - dealer boats are different IF the dealer actually services the boat...

I also disagree with the distance. west coast vs east coast for sure.. florida vs michigan absolutely, but a boat in NY that is priced signifigantly different from one in Ohio is ludacris.... I am prepared to drive nearly 2000mi for the right boat....

at the end of the day I think there is going to be a wake up for a lot of boat owners and you'll start to see some of them off loading their "toys" for actual market value....

my 2

I've found a couple examples for you that don't necessarily support your argument.

http://cgi.ebay.com/ebaymotors/2004-Malibu...sspagenameZWDVW

http://cgi.ebay.com/ebaymotors/2008-Limite...sspagenameZWDVW

http://cgi.ebay.com/ebaymotors/Malibu-23-L...sspagenameZWDVW

http://cgi.ebay.com/ebaymotors/2007-Malibu...sspagenameZWDVW (this is a really nice boat)

I don't see where they are going for any less than on any of the selling sites I listed. Am I missing something?

Edited May 7, 2008 by 06vlx

[Killer]

there's a few things you're missing. 1. those are FOR SALE, not sold 2. what are the asking price (buy it now) in relation to nada? 3. corvette boat ??? dont see your point at all with that one. 4. at least one has less than 2 days left and isnt at the reserve or even close to the buy it now... 5. I stated especially with 90s malibu's that I've found on this site and the boat trader are grossly over priced compared to nada and ebay.

ebay doesn't move boats because people can put them up and hope for an easy sale... then they dont sell because they are priced too high... its a great site to determine what people are willing to pay if you save the items and look at them when the auction closes.

one of my points was you can't look at asking prices on the trader, or this site for that matter to determine market value... you have to find out IF they sold only, and then for how much.. I think nada is a better guide than most individuals at the end of the day, hence all of those buy it now boats STILL FOR SALE!

[Bobby Light]

there's a few things you're missing. 1. those are FOR SALE, not sold 2. what are the asking price (buy it now) in relation to nada? 3. corvette boat ??? dont see your point at all with that one. 4. at least one has less than 2 days left and isnt at the reserve or even close to the buy it now... 5. I stated especially with 90s malibu's that I've found on this site and the boat trader are grossly over priced compared to nada and ebay.

ebay doesn't move boats because people can put them up and hope for an easy sale... then they dont sell because they are priced too high... its a great site to determine what people are willing to pay if you save the items and look at them when the auction closes.

one of my points was you can't look at asking prices on the trader, or this site for that matter to determine market value... you have to find out IF they sold only, and then for how much.. I think nada is a better guide than most individuals at the end of the day, hence all of those buy it now boats STILL FOR SALE!

"I stated especially with 90s malibu's"

My bad..

"then they dont sell because they are priced too high"

Because IMO only an uninformed idiot would buy a boat on e-bay without working with a dealer, looking it over, etc.. They might be willing to take a chance at a rediculously low price.

Edited May 7, 2008 by 06vlx

[LS-One]

Being in the Auto Industry...not BOAT, I can say this...NADA is published in 2 forms 1 is a book that is for the public and one for dealers only and the website.

The website uses information that is gathered over a 3 month period, to give you what is supposed to be the current market data???

So, the information you are seeing is still based off the winter sales data which, not as many boats sell in the winter as would spring/summer.

Something you might check out is blackbookusa.com...that's what I use to help determine vehicle values. Just not sure if they are for "Dealers Only"

Hope this helps???

Just the fact that they publish two books supposedly stating market value tells me their data is unreliable.

[Awest]

Another good source of information other than ebay would be Craigslist. Just type Craigslist and Malibu Response 2000 into google and you will see if there are several similar boats for sale around the country. Do the same for several boat years to find comparisons. Because it costs nothing to list on Craigslist you tend to get a lot of people moving boats and cars. I have personally bought and sold two boats on the list. The first was to a guy in Calgary in Feb. that bought my boat after listing it for 3 hours. Then I bought a Malibu in Denver last month after having it checked out by a Marine surveyor. It is a good site but just like ebay it is buyer be warned. Also, asking prices and sale prices can be radically different. My 1998 sunsetter vlx listed for $23K and I bought it for $19K. Good luck

AW

[stewart]

Being in the Auto Industry...not BOAT, I can say this...NADA is published in 2 forms 1 is a book that is for the public and one for dealers only and the website.

The website uses information that is gathered over a 3 month period, to give you what is supposed to be the current market data???

So, the information you are seeing is still based off the winter sales data which, not as many boats sell in the winter as would spring/summer.

Something you might check out is blackbookusa.com...that's what I use to help determine vehicle values. Just not sure if they are for "Dealers Only"

Hope this helps???

Just the fact that they publish two books supposedly stating market value tells me their data is unreliable.

From what I understand, one book has the low retail and average retail prices (same as www.nada.com for consumer). The other book the dealer uses has trade in values.

My RV dealer uses the trade in value for financing and consignment purposes on used RV's. The banks were lending for market value but now have backed off to trade in value. So, if someone is looking for a loan on a used unit in most cases the bank may only lend up to trade in value. The buyer would then need to come up with the balance in cash. This may now become reality with boats as well.

Like many have said, its just one guide. Boattraderonline, usedboats.com, etc. can give you an idea of what other people are asking (not necessarily selling for). Again a guide. Bottom line, put it out there. If you aren't getting responses your probably too high and may need to adjust the price. Also, beware of lending concerns this may also dictate how much buyers maybe able to get a loan for, which in turn may have an effect on your asking price or ability to sell, just like the real estate debacle we are currently going through.