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Old 02-20-2013, 12:38 AM   #1
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NADA Guides

How accurate are the boat prices in the NADA Guides?

Power boat, Sailboat Prices & Personal Watercraft Values

I've noticed that most of the boats listed on YW are significantly higher than the NADA Guide value. Are the NADA prices low or the YW listings extremely optimistic?
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Old 02-20-2013, 12:43 AM   #2
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they are a giude not chisled in stone and my experiance has been they are always low
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Old 02-20-2013, 12:56 AM   #3
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NADA is worthless for yachts. I have no idea where they sample from but the numbers couldn't be any farther off. If anyone doubts this then look up your own boat, OUCH! The industry uses soldboats.com date for valuations. This is a member broker's site for Yachtworld that shows previous sales.
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Old 02-20-2013, 01:22 AM   #4
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It certainly wasn't very kind to my new boat.
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Old 02-20-2013, 05:46 AM   #5
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"It certainly wasn't very kind to my new boat."

Your new boat includes 10% or 20% markup for the builder, and about 20% markup for the dealer.

How much of that is "value" for the next owner?

Similar to a new car , drive it around the block the resale is down by 1/4.
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Old 02-20-2013, 08:50 AM   #6
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a significant part of my business is doing third party valuations for all the Canadian banks on repossesed boats. I use BUC, NADA, ABOS and soldboats.com

I noticed a few anomolies over the years ... boats in the Cnadian Maritimes, British Columbia and the US west coast sell for more than the Great Lakes or the east coast. Boats in Texas are usually the lowest prices. Location does count but less so in bigger and higher end boats.

Most of the boats I appraise are sold through auction and therefore neither survey, mechanical, nor sea trials are possible. Basically its a bit of a gamble. Under these conditions you can well imagine that boats sell for substantially less than the open market. The statement below is the valuation statement in my repossession appraisals.

This valuation opinion is intended for insurance and financing purposes only and is not intended to influence the purchase or purchase price of the subject vessel. The surveyor has no interest in the vessel financial or otherwise. It is the opinion of the surveyor that approximate as is, where is value at auction of this vessel without benefit of mechanical inspection, survey or sea trial is ............

I find that in boats under 24' NADA prices are very close to actual auction (duress sales) sales numbers but other than that their prices are very low and not relative to the actual market.

In valuations for my regular surveys I use the same sources but stick pretty close to soldboats numbers. You might be interested in
Boat Values, a Crap Shoot.
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Old 02-20-2013, 09:40 AM   #7
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Thanks for the info. That is exactly what I needed. I knew about soldboats but I don't have access to that and I don't want to deal with a broker until I'm ready to buy.

Very interesting about the regional difference is prices. Too bad I'm in California.

Is there also a seasonal difference in YW asking price? I've noticed some prices go up in the spring and come down in the fall.
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Old 02-20-2013, 11:32 AM   #8
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Portager, I have not noticed a significant difference in spring vs fall. I think the Fall sellers have already paid for winter storage and are looking to get that money back while the buyers are looking to save that money so it kind of evens out.
Spring sellers may do marginally better because the buyer is lloking to get on the water.
My thoughts on this may be somewhat skewed because I am in an area with a 5-6 month season. PM me when you get close to making an offer and I'll pull whatever soldboats has avaiable for you.
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Old 02-20-2013, 04:55 PM   #9
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Quote:
Originally Posted by portager View Post
Thanks for the info. That is exactly what I needed. I knew about soldboats but I don't have access to that and I don't want to deal with a broker until I'm ready to buy.

Very interesting about the regional difference is prices. Too bad I'm in California.

Is there also a seasonal difference in YW asking price? I've noticed some prices go up in the spring and come down in the fall.
I have not found any seasonal price differences with my clients. In the fall you have boats entering the market after their summer use. The strongest season is Thanksgiving till Memorial Day. Folks are looking to buy then to have for the summer. The most serious bluewater folks tend to buy the earliest. Sometimes in late spring you might find sellers lower their ask to catch the last buyers, but others are firmer on their price as they are making the mental adjustment that they will use their boat for the summer season and try again in the fall.
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Old 02-20-2013, 08:18 PM   #10
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Originally Posted by Daddyo View Post
NADA is worthless for yachts. I have no idea where they sample from but the numbers couldn't be any farther off. If anyone doubts this then look up your own boat, OUCH! The industry uses soldboats.com date for valuations. This is a member broker's site for Yachtworld that shows previous sales.
that site dosent work unless you are a subscriber. My experiance is none of the free sights reflect actual value just asking prices. From what i have seen the real selling price is usually6 about 25% or more below nada price.
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Old 02-20-2013, 08:34 PM   #11
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that site dosent work unless you are a subscriber. My experiance is none of the free sights reflect actual value just asking prices. From what i have seen the real selling price is usually6 about 25% or more below nada price.
I think you meant to say 25% more then NADA. NADA is far below sale prices on yachts (often much more then 25%). It is worthless and should not be considered on yachts. If you need a valuation call a broker you know and get him/her to pull soldboats.
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Old 02-20-2013, 08:44 PM   #12
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I think you meant to say 25% more then NADA. NADA is far below sale prices on yachts (often much more then 25%). It is worthless and should not be considered on yachts. If you need a valuation call a broker you know and get him/her to pull soldboats.
Aho, thanks Daddyo, you are right my mistake
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