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Evaluating Used Boat Prices


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This is certainly a question from lack of experience or knowledge about the subject. So I want to ask some of you that have bought and sold a number of boats. Even though I currently have my boat for sale this is a question of curiosity than actually related to my current situation.

It seems like everyone that calls they quote me what the exact lowest NADA value of my boat and I personally think of the NADA value of the boat plus the NADA value of the trailer. It is like no one else but me figures in the trailer value. (In my case I am not desperate to sell, but I am curious)

Is this the common theme for used boats not to include the trailer when discussing the value?

Is it a given that the trailer is a freebee?

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I never pay attention to NADA, & I tell people that when they call. NADA always seems to be skewed one way or another & never seems to be right on with what the market will bear given location & time of year. What I look at is going rate for a comparable boat & then what the cost for a new model would be (difficult in your case since the Tantrum is no longer made). My boats are well cared for (as I suspect is the case with your boat) & I tell people that when they try to quote "low book" - if it's not a low book boat, you shouldn't have to take low book money for it, period.

JMO, people get way too caught up in NADA values.

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This may not apply to an older boat such as the Tantrum but, with the amount and type of accessories people can have on their boats, I don't see how the blue book could give any real estimate of value. What do they base the value on?

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Thanks WakeGirl and I agree.

I really feel like my boat is in exceptional condition and I have a value that I am not willing to dip below.

I just find it odd how others have confronted me about the price the last two weeks. All I hear is the NADA "boat" value at the lowest end to the exact dollar amount.

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Telll them to take the time to see it in person, before they start to lowball you. As WG said, there is a big difference between low and high retail. Tell them why you are asking $XXXXXX for the boat, and to come and see it. then you will listen to what they have to say.

MM

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You are right about a personal look at the boat.

The last young couple that came to look at it was absolutely amazed at the condition compared to other local inboards (and other boats in general) based on his statements. I respected that the closed bow was not what he was looking for so it wasn't about price so much as it didn't fit his needs. That I can respect.

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I would put a little more stock in NADA car values vs. NADA boat values, as I would assume the sample set they get their data from would be much, much smaller for boats than cars.

Edited by rts
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The one thing bad about my boat and price is who the sale ad is attracting.

The majority of the people that seem to call only look at the price. They don't even seem to know the term inboard or direct drive. They just know that they can get a tri hull for a few grand less than what I am asking and if I could lower the price they will consider buying it. :)

I am guessing that with a higher end boat with a higher price kind of weeds out a lot of the type of people that have been calling me.

Sorry for sounding kind of snobby, but some of the calls have been very interesting. :) (I know that is just part of the deal)

Edited by Jesse
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They just know that they can get a tri hull for a few grand less than what I am asking

Few grand less for hundreds of hours more! Just keep reminding them 110 - that's new!

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Hang in there, somebody that wants to talk money on the phone instead of asking about the boat is not worth your time at all. I have sold many old cars and one boat and the people that are really serous do no say a word about money until they have looked the vehicle over well and they have decided it fits thier needs. I have run into some real jack***** through selling vehicles. I have had people not talk money until they look at it and they really dont need it because it's not exactly what they wanted, and still try to get the lowest dollar possible. You will know when the right person comes along. There are alot of dealers around also that you need to look out for. Careful because when I sold my last boat I couldn't tell you how many people tried to scam me by getting account numbers for money transfers to my bank. When I did sell my boat I took the cashiers check straight to the bank to find out if it was ligit, and if the funds were availabe. The Bank told me that 40% of all cashiers checks they are seeing these days are fake!! This is a beautiful world we live in and at the same time it's awful to see what some people are willing to do for personal gain.

Good luck

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I recently sold my 2001 SLXi to a crew member. To figure my asking price, I looked at NADA to get a gauge. Also scoured all the online ads to see what the general population was asking for similar boats. I had my fair share of low-ballers which is to be expected. What was interesting to me was the "I don't want all the accessories you've added to the boat" tactic. They compared a stripped down model with no options compared to mine with PP, tower, racks, bimini, snap on cover, heater, shower, depth, etc. I gladly agreed to remove what could be removed, dropped the price by about half of the new value of the accessories that were coming off...that was met with the "it's going to cost us $900 to buy the racks like you have set up, and another $700 for the bimini...you need to knock off $1600". End of the day, my boat sold for just under high NADA retail value to a guy who came from over 2,000 miles away.

Good news is that there is a buyer out there for your boat, hopefully someone who'll continue to care for your Tantrum as you have. I was pleasantly surprised to see my buyer was very intersted in learning everything possible to keep it in tip top shape. I'm going to make a surprise visit to see my former boat this summer...I'll be quite surprised if it's not in the same condition.

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The buyer for your boat will know exactly what it is and want that kind of boat. Anyone not knowing what a Tantrum or a serious ski boat is will just waste your time.

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If you come through this way edwin, it would be great to put a face to the name. :)

Be careful what you wish for. :lol:

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If you come through this way edwin, it would be great to put a face to the name. :)

Tracie, have you not seen his mug on his avatars???? I dont think it's something you want to see. Tease2.gif

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...I'm going to make a surprise visit to see my former boat this summer...I'll be quite surprised if it's not in the same condition...
.

Note to Self: If you ever buy a boat from edwin, make sure it's kept in tip top shape lest you fail a surprise cross country inspection :)

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Careful because when I sold my last boat I couldn't tell you how many people tried to scam me by getting account numbers for money transfers to my bank. When I did sell my boat I took the cashiers check straight to the bank to find out if it was ligit, and if the funds were availabe. The Bank told me that 40% of all cashiers checks they are seeing these days are fake!! This is a beautiful world we live in and at the same time it's awful to see what some people are willing to do for personal gain.

Good luck

Thanks

I have been very concerned about this issue as well since I am seeing warnings listed every where about the scams and the fake cashiers check. I have also been getting a number of calls and emails from "boat brokers" as well.

What is the best way to protect yourself from getting the cashier check? Go to the bank with the person?

I was pleasantly surprised to see my buyer was very intersted in learning everything possible to keep it in tip top shape. I'm going to make a surprise visit to see my former boat this summer...I'll be quite surprised if it's not in the same condition.

I have been pointing this website and the thread where my boat is listed to callers so that they can inquire with crew members for "unbiased" :) opinions toward the Malibu brand and the attributes of tournament ski boats. I hope they will come here to do some research. This is the best place for them to find out about the boat other than a personal visit. It would make me happy as well if it went to someone that was enthusiastic about getting this boat because it is a Malibu and has some good qualities.

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Careful because when I sold my last boat I couldn't tell you how many people tried to scam me by getting account numbers for money transfers to my bank. When I did sell my boat I took the cashiers check straight to the bank to find out if it was ligit, and if the funds were availabe. The Bank told me that 40% of all cashiers checks they are seeing these days are fake!! This is a beautiful world we live in and at the same time it's awful to see what some people are willing to do for personal gain.

Good luck

Thanks

I have been very concerned about this issue as well since I am seeing warnings listed every where about the scams and the fake cashiers check. I have also been getting a number of calls and emails from "boat brokers" as well.

What is the best way to protect yourself from getting the cashier check? Go to the bank with the person?

I was pleasantly surprised to see my buyer was very intersted in learning everything possible to keep it in tip top shape. I'm going to make a surprise visit to see my former boat this summer...I'll be quite surprised if it's not in the same condition.

I have been pointing this website and the thread where my boat is listed to callers so that they can inquire with crew members for "unbiased" :) opinions toward the Malibu brand and the attributes of tournament ski boats. I hope they will come here to do some research. This is the best place for them to find out about the boat other than a personal visit. It would make me happy as well if it went to someone that was enthusiastic about getting this boat because it is a Malibu and has some good qualities.

fake cashiers check: Don't let the boat out of your site until you know the funds are available. If they are available I would cash it and divy out the money where you need it to go. That's if you are dealing with somebody out of town or a dealer. I had one guy that wanted to send a buddy of his to pick the boat up with out him even looking at the boat and bring a cashiers check with him when he picked up the boat, and I told him no. Either bring cash when you come or have the cashiers check sent prior to your arrival. Just be careful of anybody that talk's money before looking at the boat.

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fake cashiers check: Don't let the boat out of your site until you know the funds are available. If they are available I would cash it and divy out the money where you need it to go. That's if you are dealing with somebody out of town or a dealer. I had one guy that wanted to send a buddy of his to pick the boat up with out him even looking at the boat and bring a cashiers check with him when he picked up the boat, and I told him no. Either bring cash when you come or have the cashiers check sent prior to your arrival. Just be careful of anybody that talk's money before looking at the boat.

If I do get a buyer I typed up a quick bill of sale and plan on requesting to see ID and at least write down their address on the sales slip. Plus take into consideration the precautions that you mention.

I am glad the discussion of this thread has changed a little in this direction because I have had several calls and emails that sounded very suspicious right off the bat and even though they were not slick enough to lure me in I am sure there are some very crafty con men/women out there that may fool even the most aprehensive.

thanks

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Having just sold a couple of boats, the payment thing can be a bit tricky. I lost a potential sale because of the payment terms I demanded, and I don't think he was a scammer - it was just a catch 22 where I wanted all the money deposited in my account BEFORE I gave him any paperwork and delivered the boat 700 miles, and he wanted some assurance that he would actually get the boat after he shelled out all the cash. It was a trust thing, where I wasn't willing to go out on a limb, and neither was he. The next person had no issue with getting me the money first, and then it all went fine. At the end of the day though, I wasn't willing to budge on ensuring any checks cleared, etc before they took delivery of the boat and got any paperwork. In your situation, cash may more of a possibility than it was with mine ($45K is a lot of cash!), so that would be the ideal way to work a deal if possible.

Edited by jcbatt
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Having just sold a couple of boats, the payment thing can be a bit tricky. I lost a potential sale because of the payment terms I demanded, and I don't think he was a scammer - it was just a catch 22 where I wanted all the money deposited in my account BEFORE I gave him any paperwork and delivered the boat 700 miles, and he wanted some assurance that he would actually get the boat after he shelled out all the cash. It was a trust thing, where I wasn't willing to go out on a limb, and neither was he. The next person had no issue with getting me the money first, and then it all went fine. At the end of the day though, I wasn't willing to budge on ensuring any checks cleared, etc before they took delivery of the boat and got any paperwork. In your situation, cash may more of a possibility than it was with mine ($45K is a lot of cash!), so that would be the ideal way to work a deal if possible.

It really does boil down to a trust thing. I didn't even want money transfered to my account either because when the money is wired or transferred the buyer gets a reciept with you account number on it!!! The cash thing is the best thing if possible. I have sold cars for more cash than that and most of the collector car buyers have cash because of the trust thing.

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I think that a good way to go on this is to set up an escrow account that the money can be deposited to with payment terms attached. That way the funds can be verified, & once the buyer takes delivery you both sign off on the account. It's pretty cheap insurance for both the seller & buyer.

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