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erikj

Thoughts on how much my boat might be worth

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erikj

Alright, I'm thinking of selling my boat and upgrading to something with some more surf automation.  

2007 Wakesetter 23LSV 

Ton of work on stereo - 2 amps, krypt horn speakers, jbl 6x9s, 8 rockford 6.5" in the cabin
Upgraded G3 tower - apparently the old tower had a crack and old owner replaced it with a G3 for 11k
Bimini
Interior was done right before I got it in June 18' - one small rip on the walkthrough, otherwise it is immaculate
Upgrade 4319 Prop last year
Two 900 plugin in plays from Wakemakers that go with the onboard ballast
Power Wedge
Cruise Control

The boat was a Lake Powell boat that was used primarily for wakeboarding with no added ballast for about 10 years, last owner bought it new and just drove it up and down the lake a ton so we are at about 1550 hours.  The boat runs great and no real issues other than the actuators going out last year on the wedge and are now replaced with the new style. 

Any thoughts on what I could maybe get for it?  The boats here are all over the place from 28k-45k for similar years/condition. 

Thanks in advance

https://www.dropbox.com/s/evee3560v71da6l/20180916_081113.jpg?dl=0

https://www.dropbox.com/s/nj0sm9eekx0yyof/20180623_113343 (1).jpg?dl=0

https://www.dropbox.com/s/yzysorb1bjgwrdq/20170703_123438.jpg?dl=0

https://www.dropbox.com/s/dkipoye2m8irnrl/20170703_123518.jpg?dl=0

 

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oldjeep
Posted (edited)

How many hours on it, and what engine?

 

Edit - OK the hours were buried after all the less important stuff.  The hours are super high and that will scare away a lot of buyers.  Make sure to factor in the price of a long block when setting your price.

Edited by oldjeep

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erikj
10 minutes ago, oldjeep said:

How many hours on it, and what engine?

 

Edit - OK the hours were buried after all the less important stuff.  The hours are super high and that will scare away a lot of buyers.  Make sure to factor in the price of a long block when setting your price.

Yeah it's the Monsoon 340.  I hear ya on the hours but according to Malibu they claim the motors are good for 2500-3000 hours without a rebuild.   Also, like I said it was on a huge lake and a lot of driving back and forth, no big ballast or anything for about 10 years. 

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JeffK

I'd get a compression and leak down test done.  That will tell you a lot. 

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erikj

 

3 minutes ago, JeffK said:

I'd get a compression and leak down test done.  That will tell you a lot. 

Yeah that would probably be a good idea and hopefully would alleviate people's concern's about the hours.  It's funny though because I have like 2200 hours on my truck and it's only 85k.  It's just not that many miles and who knows how much idea or slow speed factors into that... 

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JeffK
1 minute ago, erikj said:

 

Yeah that would probably be a good idea and hopefully would alleviate people's concern's about the hours.  It's funny though because I have like 2200 hours on my truck and it's only 85k.  It's just not that many miles and who knows how much idea or slow speed factors into that... 

Right, but a completely different type of run-time.  The marine application is definitely harder on them

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erikj

So kind of back to my original question, how much you think it's worth? haha

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erikj
1 hour ago, bbattiste247 said:

Boulderboats has a 2006 23 lsv with 1265 hours and not as many upgrades. They are asking $39,995. 

 https://www.boulderboats.com/default.asp?page=xPreOwnedInventoryDetail&id=5984811&p=1&make=malibu&s=Make&d=A&fr=xPreOwnedInventory

Thanks, very similar boat for sure, maybe not some of the upgrades that I have but looks like a nicer trailer so it might even out.  

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TallRedRider
Posted (edited)

I think that most will see those large sacs installed and not believe what you are saying about the previous owner just driving it back and forth at Lake Powell.  I am not sure I buy it.  I have driven back and forth a lot of times on that lake, but I promise it is not 1000+ hours worth, so I cannot help but think more was done than pleasure cruising.   And even when I was a beginning wakeboarder, I filled the ballast, as I am pretty sure most everyone else does too.  Saying that just screams that you are trying too hard to minimize the fact that something is being hidden.  I am not sure I would even say it.  

The new tower raises more questions than it answers, even though it is a huge upgrade over the original.  I had an MC that the previous owner drove through a hotel drive through that was too low.  It had an upgraded newer tower, and strangely enough, it seemed to hurt resale as much as it helped.  It just raises questions about whether the true history of the boat is known.  

Those are super skeptical statements on my part, and you might find someone not as cynical as I am making it sound, but because of those things, I think this boat is only worth 30-34K.   

I totally agree that the hours are not a problem if it passes a good inspection, but unfortunately, vast majority of comparable boats will have 500 hours on them and the uneducated consumers will shy away.  

Upgrades rarely get you what you have into them, so it does not help a lot.  You might do better to remove them and sell separate.  

Edited by TallRedRider

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RyanB

I’m not one to worry about hours. But I’m in the minority. 

I think I’d pay to have a reputable mechanic look at the engine, do a compression test and an oil analysis. Use that as your proof source that the engine is in good shape. 

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gregtay
3 hours ago, TallRedRider said:

The new tower raises more questions than it answers, even though it is a huge upgrade over the original.  I had an MC that the previous owner drove through a hotel drive through that was too low.  It had an upgraded newer tower, and strangely enough, it seemed to hurt resale as much as it helped.  It just raises questions about whether the true history of the boat is known.  

Illusion X and XS towers are known to have a pretty short useful life... pretty common to see boats that had to upgrade to the G3 after the X/XS failed (cracked.). Searching TMC shows this is pretty common so I wouldn’t be concerned about that at all (any not too many bridges (or trees) to hit out in Powell!)

I upgraded my 2008 w/ an XS to a G3.2 simply because I wanted a newer tower that was a bit sturdier and I found a great deal on a brand new one that came off a new boat where someone wanted a G4 so apparently the dealer swapped it. (Sold the XS to someone on TMC from Australia.. he had it ship over there 😳)

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Slayer

Seems like you may have misunderstood @TallRedRider.  I don't think he's being a "D", either.  I just think that he's given you advise based on his experience and opinion and quite honestly, I think he brings up some good points for you to consider.  An educated buyer is going to question all that he's questioned.  An uneducated buyer that just wants a wake boat may not question those things.  

Best thing you could do in your position is to look at what they've been selling for on OIB and look at asking prices on comparable boats and start there.  There's no harm in listing it for sale a little higher and allowing for some wiggle room, or reducing the price after some period of time.  JMHO....

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Falko

I think to an educated buyer you'd get mid to high 30's for it. Tough to compare to a dealer as they usually can get a little more as they set up financing and have more an audience, etc. The hours will get some people but those who pay to have a real survey done are the ones that will truly see the condition of the engine. There are engines out there dying at 500 due to lack of maintenance and care and others running 2000 in great shape. Those numbers only tell a small part of the story, but some can't get past what they feel is the correct good number.

Looks and sounds like a great boat. As someone mentioned, pick a number you'd be happy with, tack on a few percent, then see what happens.

Good luck.

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erikj
1 minute ago, Falko said:

I think to an educated buyer you'd get mid to high 30's for it. Tough to compare to a dealer as they usually can get a little more as they set up financing and have more an audience, etc. The hours will get some people but those who pay to have a real survey done are the ones that will truly see the condition of the engine. There are engines out there dying at 500 due to lack of maintenance and care and others running 2000 in great shape. Those numbers only tell a small part of the story, but some can't get past what they feel is the correct good number.

Looks and sounds like a great boat. As someone mentioned, pick a number you'd be happy with, tack on a few percent, then see what happens.

Good luck.

Thank you, that is great advice and we shall see what happens. Good news is I have a lot more sweat equity in it than money so anything over the low 30s will be making money.  I will probably at least do a compression test which hopefully will help a bit as well. 

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Sparky450

Hours are a concern for a lot of people. I just sold a 2007 21LSV in had 1200 hrs on it. But it also had a new engine at 830 hrs. It had some issues that I believe came from assembly. So only about 470 hours on the engine.

It was in great shape for an 11 yr old boat. All I heard was man it has a lot of hours.

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erikj
Just now, Sparky450 said:

Hours are a concern for a lot of people. I just sold a 2007 21LSV in had 1200 hrs on it. But it also had a new engine at 830 hrs. It had some issues that I believe came from assembly. So only about 470 hours on the engine.

It was in great shape for an 11 yr old boat. All I heard was man it has a lot of hours.

Yeah I'm ready for that and honestly if I don't sell it maybe I will do an engine swap in a year or two and try again.  The marine vortec engines are getting pretty cheap these days for reman and even new ones.. 

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TallRedRider
11 hours ago, gregtay said:

Illusion X and XS towers are known to have a pretty short useful life... pretty common to see boats that had to upgrade to the G3 after the X/XS failed (cracked.). Searching TMC shows this is pretty common so I wouldn’t be concerned about that at all (any not too many bridges (or trees) to hit out in Powell!)

I upgraded my 2008 w/ an XS to a G3.2 simply because I wanted a newer tower that was a bit sturdier and I found a great deal on a brand new one that came off a new boat where someone wanted a G4 so apparently the dealer swapped it. (Sold the XS to someone on TMC from Australia.. he had it ship over there 😳)

How much is a new G3?  

 

I suspect there is a deleted post in here somewhere... @erikj 

I am just offering a perspective that some of your potential buyers will have, I promise they will, I've done this a few times.  I hope that you get the most out of the boat, it certainly benefits any Malibu owner when the values stay up.   When I see someone who says they only pulled 50 pound unicorns behind the boat with no ballast on rainbow colored water, it makes me (and a lot of other people) think the opposite.   'This boat comes to work every day, puts in overtime and gets the job done' almost resonates better with me, personally.   

And the boat is red, so it has to be awesome.  

Are there maintenance records available?  

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shawndoggy
3 hours ago, erikj said:

Yeah I'm ready for that and honestly if I don't sell it maybe I will do an engine swap in a year or two and try again.  The marine vortec engines are getting pretty cheap these days for reman and even new ones.. 

I don’t think that that really helps IMHO... and certainly wouldn’t increase the value of the boat with a working but high hours motor  by the cost  of a rebuilt or new long block. 

IMHO a 1500 hr boat is gonna be perceived (rightly or wrongly) by the market as approaching the end of its useful life. Even if you can convince an educated buyer that the boat is fit for another decade’s worth of use, the buyer is going to have to take his own potential resale into account when deciding what to pay. 

If otherwise in great looking shape, I’d think a good price on the buyer side this time of year is $29,999. If you actually get anything higher, then you are “in the money”. 

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shawndoggy
3 hours ago, Sparky450 said:

All I heard was man it has a lot of hours.

Zactly

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gregtay
23 minutes ago, TallRedRider said:

How much is a new G3?  

Outrageously expensive (can’t remember exactly... but I want to say $10k?) and shipping is at least $1k. I think I paid 3k for mine and $500 to get it shipped to me. 

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Sparky450
22 minutes ago, shawndoggy said:

I don’t think that that really helps IMHO... and certainly wouldn’t increase the value of the boat with a working but high hours motor  by the cost  of a rebuilt or new long block. 

IMHO a 1500 hr boat is gonna be perceived (rightly or wrongly) by the market as approaching the end of its useful life. Even if you can convince an educated buyer that the boat is fit for another decade’s worth of use, the buyer is going to have to take his own potential resale into account when deciding what to pay. 

If otherwise in great looking shape, I’d think a good price on the buyer side this time of year is $29,999. If you actually get anything higher, then you are “in the money”. 

I agree with Shawndoggy.  Don't waste the money on the engine. You wont get it back. Knock that couple grand off the price of the boat, save your time and move on. Having just sold the 2007 21 LSV.  I will say low to mid 30's. 

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Sparky450
Posted (edited)
22 hours ago, erikj said:

 

Edited by Sparky450

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Nitrousbird

If you are happy with the boat and just want surf automation, why not put a few grand into this one by adding GSA and any ballast automation you may need.

FAR cheaper than buying a newer boat...

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gregtay
2 minutes ago, Nitrousbird said:

If you are happy with the boat and just want surf automation, why not put a few grand into this one by adding GSA and any ballast automation you may need.

FAR cheaper than buying a newer boat...

I agree.. GSA will transform that boat into a great surfing machine.

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