NADA, BUC and Boat List Price Differences?

[denverd0n]

Originally Posted by Pblais

Marketplace forces are always fair and you don't need to know why - if you sign. If you sign, it means it was fair. Only a fool would do otherwise. It's not about the other guy it is about you. It's the only perspective when it comes to capitalism. It's about you!

Well put!

[SuenosAzules]

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.

[Mobjack]

Banks use NADA and property tax assessors use BUC. BUC values are substantially higher. As far as I can see BUC doesn't really take into account much detail on the boat.

On a small older runabout BUCvalues match the original price of the boat and motor on the NADA but say "not including outboard motor". In runabouts, the motor is the biggest issue and a newish one far out weighs the value of the boat itself. Then BUC lets you interpret the condition. which varies by "Plus 15-20%" for Excellent to "minus 50-80%" for Restorable.

[sailorboy1]

Originally Posted by Mobjack

Banks use NADA and property tax assessors use BUC. BUC values are substantially higher. As far as I can see BUC doesn't really take into account much detail on the boat.

On a small older runabout BUCvalues match the original price of the boat and motor on the NADA but say "not including outboard motor". In runabouts, the motor is the biggest issue and a newish one far out weighs the value of the boat itself. Then BUC lets you interpret the condition. which varies by "Plus 15-20%" for Excellent to "minus 50-80%" for Restorable.

All I wonder is what were you doing when you decided to revive this thread after 7 years

[Dandanhansen]

Is the 30% most sellers will drop still relevant?

[denverd0n]

Originally Posted by Dandanhansen

Is the 30% most sellers will drop still relevant?

It was never "relevant." It was always, "maybe, maybe not."

Some sellers over-price their boats by much more than 30%. Whether or not they will be reasonable, and listen to a fair offer, is something that no one can predict.

Other sellers price their boats very fairly, and would quite justifiably laugh at any offer that was more than 10% or so below their asking price.

Which one you might be dealing with is impossible to say without talking about a very specific boat, in a very specific location, in a very specific condition, for a very specific asking price.

Because of the nature of the market, buying boats is not nearly as simple as the usual process for buying a car or a house.

[TexasBryan]

We recently started our boat search and are finding that the boats in our area are priced considerably higher than the BUC and NADA suggested values. From the wording, and photos, in some of the advertising, it's also very obvious that some of these boats have been listed for sale for more than a year!

- Is it common practice for people to just list boats for-sale with a "dreamer" price?

- Some of the asking prices are 50-100% more than BUC, which is higher than NADA. Is there some unwritten rule where a realistic offer on my part, much lower than the ask, is just an insult?

- I'm under the impression that the banks and insurance companies work from BUC pricing and it's all on me if I pay way more. Is that a correct assumption?

- Given that a new calendar year is right around the corner, how will that impact boat values?

[Al Golden]

NADA lists Trade-In values.
BUC lists sold values.
There are some manufacturers that are not fairly represented.

[boatpoker]

Originally Posted by Al Golden

NADA lists Trade-In values.
BUC lists sold values.
There are some manufacturers that are not fairly represented.

BUC does not list sold prices. Only soldboats.com does that.
"Our used boat pricing service will show used boat resale values and used boat retail prices. Using these retail boat prices, you can also estimate a wholesale used boat trade-in value".

NADA - Shows only "low retail value" and "high retail value" not trade-in value on their website.