I just wanted to add my experience to this as well. You can not make a solid assumption using NADA. The prices are usually way on the low side on fair market values. As a marine surveyor
I use several sources (NADA, BUC, Soldboats.com, ABOS) and do the research
based on that make and model vessel selling or sold in the last 12 months in that section of the country (Like from Florida
to Louisiana - for instance if it is a boat valuation in Fort Lauderdale
, Florida). Then you average those price
variables together based on the vessel's equipment
, overall condition, etc. Using just one or two sources will get you an inaccurate fair market value.