Boat Value

[Jdubb16]

I am contemplating selling st the end of this year or maybe the beginning of next.  Since boat prices have been increasing I have tried to see what our is worth, but I thought I would get your opinion

2007 Silver Anniversay Series Wakesetter 23 LSV

8.1L engine

640 hours

pretty much all options including

illision X tower

3 port heater

Wetsounds/kicker system added two years ago with 2 Rev10 on tower, all new in-boats, 12” kicker sub in a custom enclosure with appropriate amps as a Wetsounds 420BT to control it all ( all installed by Mike’s Liquid Audio @MLA)

came with all four ballast stock 2 rear, middle and front) and @MLA added two 900 pound in the rear lockers and a removable 675 pound bow bag.  All are plumbed in with switches at the helm to fill and dump

pivoting rack for one pair of boards and three more fixed racks that can be attached

replaced Bimini two years ago to match existing but added two pockets on top and a rope holder on the underside

standard Malibu trailer( no tricked out, but does the job as we don’t trailer)

three rear seats will need Vinyl work soon as they are just starting to split along the bead line, but the rest of the vinyl is in good shape for this age of boat - I would say above average

Boat is located on Lake Gaston, North Carolina side

from you guys that know boat prices well, what do you think I can expect to get either the end of this season or the beginning of next

thanks for any help and please ask any questions if I left something out

 

[Eagleboy99]

https://www.nadaguides.com/Boats

[Jdubb16]

Nada is not very accurate for these boats. For instance, I can check if it has a ballast system or not.  It does not differentiate between a stock system and what I have installed.  I can run it and get a rough number, but then I need to guess what the extras are worth and that is the harder part. Also, I am not sure if nada takes into account the crazy prices of the new boats that are driving up older boat values.

[Eagleboy99]

Well you are not going to get a lot for your stereo as an example.  Look for comparable boats on onlyinboards, boattrader etc.

[Jdubb16]

I should get some over the stock system.  There are not many comparable as this has th 8.1L engine which was a rare upgarde.  Saw a similar one for sale and asking is $50k but you don’t know what they really got, just the ask price.

[gregtay]

For a 10+ year old boat "options and upgrades" aren't going to raise the value... they simply make it easier to sell vs. a boat without the upgrades.  Boats without an automated surf system are going to be a bit more difficult to get top dollar for.

And $50k is way over market value for a 07 23lsv with anything other than extremely (sub 300) hours.   NADA is probably closer than you want to believe. Watch Inboardsonly and see what actually sells. 

[Jdubb16]

Not sure we are seeing the same thing.  Currently in the classifieds there is a similar boat to mine with the stock monsoon for $49k and Boulder Boats has a 2007 VLX for $40k that is not optioned like mine.  If I were looking for a boat I would shy away from a 12 year old boat with less than 300 hours, as that is only 25 a year.  Idle boats are usually worse than well maintained boats that get used

here is one similar to mine on onlyinboards, but it has a stock stereo, no extra ballast that is hard plumbed and has the Monsoon 340 engine instead of the 8.1L. You don’t think those items are worth $5k

https://www.onlyinboards.com/2007-Malibu-23-LSV-CLEAN--for-sale-Issaquah-Washington-99120.aspx

 

Edited July 30, 2019 by Jdubb16

[Eagleboy99]

Great boat you have there, but it is 13 years old.  I hope you get what you are asking, but  you can get a 2013-14 for about that.  Gotta know where to look.

[NHolladay]

I think the continued increase in price and demand helps hold old boat values higher.  8.1L is the bomb and very desirable.  Does it raise the price?. I think a bit but agree probably more easy sale and less haggling.  I think 8.1 in general is a gem because of the power and displacement we may never see again.  Most people want the new hot stuff but a guy who is not looking for the latest and greatest I think would find value and may go further to get it.  Basically, put it up and be prepared to take the best offer you can get understanding it may take a long time to get that premium you are looking for.  Good luck.

[AzAxisA22]

With 500+ hours, it looks like they are selling for mid-30's to low 40's.

https://www.onlyinboards.com/SoldBoats.aspx

[kylesullens]

I think that I'm your prototypical buyer. I bought on 06 23LSV 2 years ago.  choose the 06 because of the style and price point. there were several to choose from in my area that fall,  but I drove over 1k miles to get  the one I wanted.  it wasn't a high option boat (not even a wakesetter) but was meticulously maintained and only 400 hours.  in boats that old , you will not get dollar for dollar returns on the options. I would take a boat with 400 hours over a boat with 700 hours and a $5k stereo.  doesn't matter to the buyer one bit how much your invested in any of it.  if you spent $4k to have the interior redone, you are not going to get$4k more than a comparable boat.

most guys getting the older boats (like me) are budget conscious and are not looking for the greatest upgrades. it's all about condition.  I want the most solid boat I can get for my $. I wil do my own upgrades later.

 

based on your description of your boat , I would say an end-of-season price would be $47500.  I'm on the west coast so your market may be completely different. but i watch boats in this age range pretty closely since i have one.  

[jjackkrash]

Put the boat up for what you think it is worth and see if someone buys it.  The only opinion on value that matters is the potential buyer standing in front of you ready to pull the trigger.  But I agree with others that options don't add as much value as you might think on a 10-15 year old boat.  Overall condition and perception of care/maintenance will drive the value more than add ons.  

[wedge88]

I don't know if onlyinboards has had any recent sales of your model boat but they do have a section that shows what a boat sold for.  After a sale, sellers are given the option to post sale price and sale date.  It's amazing to see the different sales deltas across the country as well as at certain times of the year.  

[Sparky450]

12 hours ago, Jdubb16 said:

I should get some over the stock system.  There are not many comparable as this has th 8.1L engine which was a rare upgarde.  Saw a similar one for sale and asking is $50k but you don’t know what they really got, just the ask price.

As I just sold  an 07 21LSV in January with a really nice Arc Audio/Wetsounds system. Don’t expect the system to increase value. It only increases value to the RIGHT person. Most people are not concerned about the stereo. I felt it was actually a deterrent for most people. 

[BigCreek]

50 minutes ago, Sparky450 said:

I felt it was actually a deterrent for most people. 

Lemme understand this better - "Most people" that you ran into when trying to sell your boat thought that a lesser stereo was preferred?

From your experience selling that boat, the demographic that is buying a 12-year old, 21-foot boat is looking for LESS stereo?

On what planet did you try to sell this terribly noisy boat?

[Sparky450]

30 minutes ago, BigCreek said:

Lemme understand this better - "Most people" that you ran into when trying to sell your boat thought that a lesser stereo was preferred?

From your experience selling that boat, the demographic that is buying a 12-year old, 21-foot boat is looking for LESS stereo?

On what planet did you try to sell this terribly noisy boat?

Just presenting  personal experience to help a fellow boater sale a boat!

 Most buyers that I came across for my 07 were not interested in a BIG stereo. Their were a lot of people looking for a nice boat to take family, grandkids out. I was getting ready to pull the big stereo and drop the price. However a buyer did finally find me that was interested in the stereo. I could have pulled the equipment, given them a mild stereo, sold my used equipment, for the same money. And the boat would have sold quicker. 

Most people are  happy with a small system and do NOT put value in it. 

[asnowman]

Where we use our boat, and for how we use it, a big stereo is a nice to have, by no means an important factor in chosing a boat. 

To @Jdubb16 question, a stereo doesn't even make my list of things to be concerned with. Do i want it to work, yes. Does it need to be crazy, certainly not. My experience has been that if the stereo can go crazy loud, people blast it, and things get abused, and worn out. Focus on that engine, and as someone currently (and almost always) shopping for a newer boat, the attention required on the rear seats you mentioned will steer away a lot of perspective buyers. I am looking for a newer 23 lsv, and even if it has a style i like, if the interior isn't cared for, i move on. 

You might get 50k, and i hope you do, but be prepared for people to not care about your upgrades. Many probably won't even understand them.

[Sparky450]

Oops!!

Edited July 30, 2019 by Sparky450

[jcon44]

List it for 45k and be prepared to take closer to 40k, that's my not so expert opinion. Good luck with the sale!

[NWBU]

1 hour ago, Sparky450 said:

Just presenting  personal experience to help a fellow boater sale a boat!

 Most buyers that I came across for my 07 were not interested in a BIG stereo. Their were a lot of people looking for a nice boat to take family, grandkids out. I was getting ready to pull the big stereo and drop the price. However a buyer did finally find me that was interested in the stereo. I could have pulled the equipment, given them a mild stereo, sold my used equipment, for the same money. And the boat would have sold quicker. 

Most people are  happy with a small system and do NOT put value in it. 

Exactly. The average buyer just sees a pair of tower speakers and tells friends it has a big, custom stereo.

On price/value, there tends to be a $4-5K swing between regions for a boat like that. Lower in the east/south and generally higher in the west.

[tbullard]

I am one that could care less about stereo equipment in a boat. When I was searching for a boat it was amazing how many of the ads had long write ups about the stereo and very little about the actual boat. We just enjoy being on the water and don't need the noise.

[Jdubb16]

Ok, I somewhat agree with the stereo, how about the added ballast.  Since many buyers will be looking to surf, having this installed and plumbed do you think this added value.  I really don’t think a family just wanting to pull the grandkids on a tube will be looking at this boat. Onlyinboards did have a few with the 8.1 sell since late 2018 and it looked to get about $3-4K more, between $45-49k so that appears to be my sweet spot

[foxriverat]

https://oklahomacity.craigslist.org/boa/d/oklahoma-city-2007-malibu-wakesetter-23/6940743109.html https://fortsmith.craigslist.org/boa/d/fort-smith-2007-malibu-wakesetter/6918890842.html https://knoxville.craigslist.org/boa/d/la-follette-lsv-malibu-wakesetter/6928376515.html https://charlotte.craigslist.org/boa/d/mount-mourne-2007-malibu-wakesetter-23/6939050913.html Here is a few

[tbullard]

What is the fuel consumption difference for the 8.1L versus the standard motor? If its bad as I suspect I would almost consider that a negative.

I would say that the ballast would be an expected option and not having it could make it harder to sell at book value but I don't think having it is going to raise the value. In my case if I can get a deal on a boat without ballast I might actually prefer that as I can upgrade as budget allows. 

Post it for sale at the price you need to get for it and you will find out fairly quickly where you stand based on customer response.

[7lazy77]

List it for whatever you think it is worth & see if you get any bites.  You can always lower the price, but at $50k it might be a hard sale.