Evaluating Used Boat Prices

[NorCaliBu]

When I bought mine...I met the guy in a Wells Fargo parking lot. He walked into the bank with my cashiers check and verified it's validity...I got my boat.

[FreshTracks]

I sold my boat 5 weeks ago. I used NADA as a guide to see where they perceived value at. But the biggie was what they were going for on the open market, ie Boat Trader, etc. I was looking for a quick sale so I priced mine very aggressively, however that price was close to "high book" value.

I agree on the pricing negotiations on the phone, I told everyone I would not discuss price over the phone, you need to see the boat. "Maybe I am asking too much?, how do you know until you see it"? Anyway, first guy who saw it bought it for what I was asking.

Good Luck on yours.

Edited May 17, 2006 by FreshTracks

[obski]

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.

I had never heard of this until a few years ago when I was looking at buying a boat. I found one on line that was just what I was looking for and priced pretty well. It was located not too far from me and so I was all set to go up and take a look at it and probably buy it. I talked with the seller who said that he was a retired police officer. I offered to bring a cashier's check, but he told me that would not be adequate as he had seen many fake cashier's checks. I was going to bring $24K in cash, but I started getting a bad feeling about it. I imagine it was all legit, but the thought of going out into a rural area to meet someone I didn't know with a significant amount of cash gave me pause. The day before I was to go up to meet the guy, the boat I ended up buying kind of fell into my lap, so I cancelled the meeting.

The first boat I bought we completed the transaction at the seller's bank where the title was held.

[RTS]

The first boat I bought we completed the transaction at the seller's bank where the title was held.

This seems like a good choice to handle the sale of a big ticket item. Even if the guy is not financing the purchase, I think you'd be pretty safe walking him into the bank and seeing him get the cashier's check.

Reminds me of a few years ago I sold a '98 4Runner to a guy. He seemed nice, his Mom seemed nice, so I took a cash deposit (checked with a counterfeit pen from Office Depot) and the next day he brought me a cahier's check and I signed the title over and watched him drive away.

I promptly took it to my bank and told the teller I wanted to deposit it as cash. She said "this is not a cashier's check" and I almost had a heart attack!

Turn out, it was a cashier's check, but it didn't say that on the check. It was "imprinted" with a stamp that raised the paper (like an old notary stamp) so you kind of had to hold it up at an angle to see the "cashier's check" on it.

Next car or boat I sell, we will be doing the paper work outside of a bank. I'll have to think about an out of town buyer situation, but I can tell you it won't be easy on an out of town buyer, unfortunately.