ABOS Marine Blue Book or BUC Boat Price Guide?

[Jamup]

In your experience, which of these pricing guides do you find to be more accurate? Is one preferred over the other for insurance purposes or asset valuation? Does anyone here subscribe to either or is it mainly for brokers, insurance companies, lenders and the tax man?!

 

[sunchaser]

What type and size of vessel are you referring too? Once beyond small SeaRays and Bayliners these NADA or Blue Book type attempts at price fixing are not valid.

 

[dhays]

What type and size of vessel are you referring too? Once beyond small SeaRays and Bayliners these NADA or Blue Book type attempts at price fixing are not valid.

It would seem to me that there are simply not enough sales each year of equivalent boats in the same regional markets to make those terribly accurate once you get past the 16' runabout market. Maybe that is why lenders want a survey done to establish value?

 

[RT Firefly]

Greetings,
Mr. dh. "Maybe that is why lenders want a survey done to establish value?" I think that's one reason for a survey. Another is to establish risk (Ala AYBC thread-let's NOT go there again). Fortunately or unfortunately, the surveyors base THEIR value assessment on sales of equivalent boats. So who does one "believe"? As always, a boat is only worth as much as one is willing to pay for it.

Funny thing, the last county tax assessment for our vessel seemed high so I went on the NADA site and filled in the blanks getting a "value" quite a bit lower than the counties. When I quizzed the tax office they said they go by what's in the NADA book and ya can't fight City Hall.

 

[Pau Hana]

In your experience, which of these pricing guides do you find to be more accurate? Is one preferred over the other for insurance purposes or asset valuation? Does anyone here subscribe to either or is it mainly for brokers, insurance companies, lenders and the tax man?!

As an underwriter, I look at a number of factors: for smaller boats, I'll use BUC. I find NADA useless, as the rating algorithm was designed for cars (National Auto Dealers Association).

A good survey will take into account market valuation and soldboats.com info, as well as material condition of the vessel and upgrades/improvements. If I get good justification for a certain value of a vessel, even if it is significantly higher than an rating guide, I'm OK with it.

 

[boatpoker]

I use BUC (useless) NADA (useless) and soldboats. I have not experienced the chicainery that some attribute to soldboats but you can pull up the original YW listing and make a comparitive guess to the vessel you are attempting to value. It is by far the toughest part of my job.... Boat Valuations.... A Crap Shoot

 

[dhays]

I am on both sides of the equation right now. Deciding how much to offer on a new boat, and deciding how much to ask for my current boat.

 

[BandB]

None of the above. All of the above. BUC can be useful for smaller boats but I definitely would make no decisions based on it. Soldboats may have weaknesses but it's still by far the best resource I'm aware of. However, I also use the knowledge of industry professionals.

Then it comes to willing seller and willing buyer. Condition plays such a major role and you just have to judge what is reasonable as an premium or deduction based on it.

So much is difficult for those not in the market every day to predict. The market swings. Location plays a significant role. Even currency. A year ago, used Hatteras boats were being grabbed very quickly and shipped to Europe. They weren't that negotiable. Six months ago that slowed down as the Euro dropped. Now it's recovered a little, but more recently the drop of the GBP has played havoc with UK built boats. Within the past two months I've seen some used models in the US priced above what a new one could be purchased for in the UK.

I have a friend about to buy a Lazzara. He missed on a couple. He wanted under 70'. The only one in the US was on the Great Lakes. Now he starts thinking of going a little larger and there are a couple. What happens when a company stops building a boat? Who knows. With one the price rises and another it drops. I would think Lazzara would drop. But not in the smaller sizes where quantity is so limited. There was a period between 2008 and 2011 in which very few Sunseekers were imported into the US. The ones I saw on the market were moving quickly at asking prices. There were dozens of the same boat in Europe that were selling far cheaper.

The one thing I've seen in this market is that for a quality used boat, well maintained, in very good condition it is a seller's market. They'll move quickly at solid prices. For a lesser used boat of the same year and build, but not maintained as well, with quite a few cosmetic issues, it's a buyers market. They start out overpriced, they sit, the price drops, and ultimately they're open to any offer they can get.

If you're willing to do a rehab project a lot of choices out there and price very negotiable. However, if you want a turnkey, move in ready, boat in pristine condition, if you see one you like, you better move quickly.