Boat Pricing (How Much Should a Boat Really Cost?)

[Panamax.]

OK....Been looking for a 30-38 foot sailboat for some time now and cannot understand the pricing. When checking NADA, the suggested retail price seems to always be nearly double the average selling price. However, when I make offers at the NADA average selling price, I get routinely rejected. How does one really know what to pay for a boat?


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[kmacdonald]

Originally Posted by Panamax.

OK....Been looking for a 30-38 foot sailboat for some time now and cannot understand the pricing. When checking NADA, the suggested retail price seems to always be nearly double the average selling price. However, when I make offers at the NADA average selling price, I get routinely rejected. How does one really know what to pay for a boat?


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NADA and BUC pricing is really bull sh-t!!!!! Especially B-C!!!!
NADA is close on average quality boats but way low on high quality boats. BUC is dream world high on everything. For average boats expect to pay NADA or less and real quality boats expect to pay more than NADA.

[BandB]

Originally Posted by Panamax.

OK....Been looking for a 30-38 foot sailboat for some time now and cannot understand the pricing. When checking NADA, the suggested retail price seems to always be nearly double the average selling price. However, when I make offers at the NADA average selling price, I get routinely rejected. How does one really know what to pay for a boat?


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First, NADA is generally useless when it comes to boats. Second, given what you've typed, I'd recommend you find a good buyer's broker who has the experience and also access to the information to guide you. There are so many factors to consider, starting with style and brand, including age and condition, and then there is just dock appeal.

[Panamax.]

Thanks. Is there anywhere to go to get a realistic estimate? Not sure I can trust a broker any further than a used car salesman.


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[BandB]

Originally Posted by Panamax.

Thanks. Is there anywhere to go to get a realistic estimate? Not sure I can trust a broker any further than a used car salesman.


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Find one who is trustworthy. Interview them. Check with others and get referrals. Check references. You can keep an eye on prices on Yacht World but that doesn't give you much help in determining what they are actually selling for. Ask the broker if they have access to soldboats.com. Now there are brokers who don't report to soldboats and others have been suspected of false reporting but still it's better than nothing.

Then ultimately it becomes negotiation between a buyer and a seller.

[Panamax.]

Thanks. I guess that's where I was headed anyway. Just frustrating.


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[Ex-Calif]

A boat is worth exactly what the buyer pays for it - I am a free market capitalist...

There never will be any "blue book" that will work for used boats. The volume is too small and the outfitting and condition varies too much.

The best one can do is to find the highest and lowest ones that are out there. Adjust for condition, area being sold in, the "motivation" of the seller and other factors.

Compare that against what you value in a boat to decide if it makes sense for you. Then close your eyes and pull the trigger.

To use NADA "average" to set offer price is doomed to failure. There are no average boats. I am presuming you wouldn't offer "average" for a crap boat so you are offering average for all the better than average boats. Statistically you should be offering in the 70-75% range for the boats that meet your expectations - Note I am not condoning making blanket 75% offers.

Boats are all "one of a kind" - averages and statistics largely do not apply.

[kmacdonald]

Don't over estimate value of electronics or underestimate value of durable gear. If you had to go out and buy a dinghy and outboard, new ground tackle, running and standing rigging, sails, cushions, etc it really adds up fast.

[denverd0n]

Well I was going to post some comments, but then I read Ex-Calif's response. So all I will say is read his post again. And then again. He has nailed it. That's all the answer you need, except to add that the only way to understand how much the condition of different boats can vary is to get out, look at, and crawl around in a whole lot of boats.

Good luck.

[sparrowhawk1]

The only way to find the market value for boats is to go out there and look at them. if you look at enough boats you will get a feel for what you get for your buck

[Panamax.]

Thanks to you all. Came very close to buying a Nonsuch the other day. Still on the hunt!


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[barnakiel]

A boat is worth as much as the buyer is willing to pay.

Make your offer at the level you see a just value. If you get rejected, move on.

b.

[CSY Man]

Agree with Ex-California, well said.
Boats are expensive to make and new boats are the market value as they all sell sooner or later.
Then the prices go down as the maintenance and repairs go up. It is like buying an old Rolls Royce car.
Keep it pristine and it will cost ya, or ignore the maintance and it will still run for awhile and it is still a Rolls Royce, but it will cost to get it back to new condition and usabliltiy.
People buy used boats because they can't afford new ones and keep having problems and headaches because they can't afford to maintain them.
Having owned 5 used boats I am tempted to buy a new one next time, but not sure I want to spend the money.
What is a guy to do...?

[nautical62]

As others have said, a boat is worth whatever someone is will to pay for it. (and sell it for)

What I'll add, is that what a seller thinks his boat is worth when he first puts it on the market and is willing to accept might be very different from what he's willing to accept if it's still on the market 9 months later.

[barnakiel]

Originally Posted by CSY Man

(...)

People buy used boats because they can't afford new ones and keep having problems and headaches because they can't afford to maintain them.

Yes. I think this is why we buy second hands.

BUT having owned a +30 y.o. boat that we sailed well over 40k NM in, I cannot say all s/h boats give problems and headaches - ours required only minor boatyard work (new antifoul, new cutlass, etc.) over last 10 years!

So I think a quality s/h boat can be as good as a new one.

b.