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Estimating value of used boat


IceMelted

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I'm looking to upgrade this year, either to a Wakesetter VLX or possibly Vride. I've found a used Wakesetter VLX that appears to have all of the options that I'd be interested in, I just don't know how to price out the "Options" and I was hoping to get some of your opinions.

Any feedback is greatly appreciated.

Here is what I'm looking at.. And I'm wondering what you all think it's value is.

2004 Malibu Wakesetter VLX with 650 hours on Monsoon 340.

-Wakeboard Pro Perfect Pass - Carpet Liner - 8 Metcraft Tower Lights(4 Forward/4 Backward) - 2 MetCraft Board Racks - 4 MetrCraft Chrome Tower Speakers - Battery Isolator (3 Batteries) - 2 Heaters - Custom Designed Billet Speaker Grills in the floor speakers to protect against denting - Pop-up Bowlight - Extended Bimini Top - MetCraft Stainless/Chrome Tower Knobs - Stainless Cup Holders in the dash and drivers area - Stainless Wedge - Stainless Exhaust tips - Stainless Docking Lights - 1100Watt US AMP (5 Channels) - 4 Custom Made Tube Acoustics Interior Speakers - Tube Acoustics Bass Bomb Subwoofer (replaced woofer with 8" Fosgate Sub) - Satellite Radio Accessory Mount with XM Kit - Sony 8800 Head CD/MP3 etc. - Sony Transom Remote - Sony Remote at Driver's Helm - Flip Bolster

Trailer:(BoatMate):Stainless Swing Away Tongue, XLT upgraded Fulton Winch, XLT Upgraded Fulton Trailer jack, Pirhana LED Lights, Laser cut out on both sides lites up "MALIBU", Stainless Fenders, Upgrade Chrome Twist Rims, Upgrade Goodyear Marathon Tires, Spare Tire with Mount matching Tire and Rim, Backup Lights, Prop Guard Rollers.

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Welcome to the site. Need a little more info. What part of the country? Does the boat have heater, shower, what condition, etc? The boat has lots of add ons but those don't necessarily maintain their value. They make the boat more attractive to buyers possibly. Try NADA to get a ballpark idea of worth, but I think it's a little high. I'll take a stab in the dark and say upper $30's to around $40ish with those hours and depending on location and condition. Purely a speculative guess however. Good luck.

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Welcome to the site. Need a little more info. What part of the country? Does the boat have heater, shower, what condition, etc? The boat has lots of add ons but those don't necessarily maintain their value. They make the boat more attractive to buyers possibly. Try NADA to get a ballpark idea of worth, but I think it's a little high. I'll take a stab in the dark and say upper $30's to around $40ish with those hours and depending on location and condition. Purely a speculative guess however. Good luck.

Thanks jmadden, it has two heaters, but no shower that I'm aware of. It is located in TN. about 6 hours from where I'm located.

I've seen about 15 pictures of it and it appears to be in beautiful condition, so clean infact that I had to ask if they were current pics or if they were taken when the boat was new.

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Welcome to the site. :)

With that option list & the way it's written I'd be very surprised if it were a school boat & if it weren't immaculate. This is probably somebody's baby that they liked to wipe with a diaper for the therapeutic value. :) I'm going to go with jmadden & guess low-40's, but I'm going to guess that they're asking a lot more for it.

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I guess being a current owner of a Malibu with about 1300 hours with original everything, I'm not overly concerned with the hours. (Should I be, c'mon it's a Malibu)

I did check NADAGUIDE.com, and checked the price for the boat and the trailer, Boat comes in between $37,885 - $45,540 Add on the trailer between $3,235 - $3,850 for a grand total of Low Average $41,117 up to Average of $49,390. That 8 Grand difference is pretty wide in my opinion, however if the Low Retail is assuming HIGH hours (like this one @ 650) it might be close.

However NADAGUIDE does not ask about hours. Is there a common figure you all would deduct for high hours like you would a car with high miles? Again, I'm the type of person that believes in Routine Maintenance and hours / miles don't mean as much if it is properly maintained.

FYI.... the asking price for this boat happens to be......... $42,000 Which I originally thought (and still now) was a decent deal, knowing if I purchased an 06 today with the same options would be about $62,000 +/-.

Again, any other thoughts or comments welcomed.

Regards.

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I would verify that it was not used in salt or brackish water. In Tennesse, that should be impossible, but this could be the second owner. Weirder things have been known to happen.

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Welcome to VLX central Ice, The price is about right, you can get a VLX with a couple hundred hrs for the same though. It comes down to if that boat is exactly what you want. You are right about the new ones, you would pay at least 15K more for that boat new.

Good luck

Joe

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from your first post it sound like the boat is well taken care of, just make sure you look into the maintance records. I didn't read the entire post when I first responded (sorry)

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The hours hurt that boat a lot, I think. I don't think its worth any more than $37K or so, if that. The stereo stuff is nice to have, but doesn't do a whole lot for the value of the boat. For the low $40's, you can be into a pretty nice NEW v-Ride which would be a preferable option because of the warranty, etc.

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The hours don't scare me either, but it certainly should be a strong negotiating point in your favor. You will not find many boats that are two years old with that many hours on them. Most will probably be between 150 and 300 hours. Therefore, you have a strong negotiating point with the owner. In addition, if they ran the boat that much and overweighted, it you have even more of a bargaining postition.

If you purchase the boat, you are either going to have to eat it on the hours when you go to sell it, or you're going to have to use it very little so the hours come back into line with the average (100 to 150 hrs) per season that most boats get.

In any case, the high hours over other boats of that year is a negative and you should be compensated for that when you purchase it.

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The hours hurt that boat a lot, I think. I don't think its worth any more than $37K or so, if that. The stereo stuff is nice to have, but doesn't do a whole lot for the value of the boat. For the low $40's, you can be into a pretty nice NEW v-Ride which would be a preferable option because of the warranty, etc.

I completely agree!

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The hours don't scare me either, but it certainly should be a strong negotiating point in your favor. You will not find many boats that are two years old with that many hours on them. Most will probably be between 150 and 300 hours. Therefore, you have a strong negotiating point with the owner. In addition, if they ran the boat that much and overweighted, it you have even more of a bargaining postition.

If you purchase the boat, you are either going to have to eat it on the hours when you go to sell it, or you're going to have to use it very little so the hours come back into line with the average (100 to 150 hrs) per season that most boats get.

In any case, the high hours over other boats of that year is a negative and you should be compensated for that when you purchase it.

I completly agree with the fact of when the next owner goes to resell the boat, good point!

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If you could buy a new Vride for a similar price, or a few K more you would be getting a boat w/ 0 hrs and 3 years of warranty. You wouldn't get all of the stereo stuff but that is easy to add on. If you run this boat to 1300 hrs like your RLX then you get double the useable hours on your new boat vs. the used vlx and for about the same price. When you look at it that way it would seem to be easy, but then again it is your money we are talking about. Biggrin.gif

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The 04 VLX is really the V-Ride with nice options. There's not really a difference. However, the V-Ride will always be a V-Ride while a VLX will always be a VLX. The 04 will also always be one or two years older too. Does the VRide come with board racks. Those are expensive. Does the VRide come with a heater and exension? The base price of the VRide does not include the trailer, does it?

A stereo with all the stuff he's showing will run you a minimum of 3K to purchase and install, maybe more. If they're running that much wattage, did they upgrade the alternator? An upgraded one is about 300 bucks.

The tower bimini is worth about 400 to 500 if it's in good shape and has a cover plus can be propped up and tied down for towing. A cover is worth about 350 if it's a good canvas cover.

IMO, all the grill upgrades and window dressing and the lights are worthless (at least in CA you can't ride before dawn or after dusk).

What else can you get with the boat? Any gear like boards, ropes, handles, fenders, flags, life jackets. Is the registration recently paid?

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A Sincere Thanks to all of you that have replied. You have all made some very good points, and I appreciate it. I know that the 04 VLX is the same hull etc as a new Vride, and the new boat smell really has me thinking, but...... I'm thinking if a LOADED VLX is down to Low 40's in two years, (about 20K in depreciation) where is that going to leave me in another two years? Isn't the majority of the depreciation in the first 20 minutes?? Isn't a new Vride going to depreciate just as quickly and as or more severe?

I guess the questions in my head could go on and on and on.... And I'm sure many of you have struggled with similar situations. I guess it falls down to the negotiations at this point and you've all given me some very good suggestions to use during the negotiations.

As my Father In-Law always says... "The only thing stopping you is Fear & Common Sense"...

Thanks again.

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Hey IceMelted, if anything changes with the boat you are currently looking at, I have an 03 for sale with 58 hours. Good lunck purchasing the boat of your dreams.

Edited by aoblak
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Just to let you know, a loaded 04 VLX wasn't going for 60k....no where close to that so the 20k depreciation in 2 years just isn't right. Since the price of boats and the material to build them has sky rocketed in the last two years, yeah maybe the MSRP of a 2006 VLX FULLY LOADED could be nearing 60k (before negotiations) but I doubt that an 04 was 60k

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...

The 04 VLX is really the V-Ride with nice options. There's not really a difference. However, the V-Ride will always be a V-Ride while a VLX will always be a VLX.

...

Totally agree with that statement.

Just to let you know, a loaded 04 VLX wasn't going for 60k....no where close to that so the 20k depreciation in 2 years just isn't right. Since the price of boats and the material to build them has sky rocketed in the last two years, yeah maybe the MSRP of a 2006 VLX FULLY LOADED could be nearing 60k (before negotiations) but I doubt that an 04 was 60k

Exactly. The price of the VLX has gone through the roof in 2 years. I doubt that they paid over $50k for it, probably closer to mid $40k's. The resale value of Malibus (any of the Big 3, actually) is quite good, with your value evening out after an average of around 7 years (sooner in my area). If you buy the boat right in the first place, then it's a lot sooner than that. The increase in prices every year just pulls up the value of the used market.

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