Other: Grand Banks NADA prices

I have been in the boat market for about 4 months searching for a right one. I noticed that the NADA boat prices are significantly lower tha the asking prices of Grand Banks 42 classics. For example, post are asking 150k and the NADA value is about 80k. Are the asking prices generally that much higher or is the NADA boat values off?

I have been seriously looking at the gb 42's and the defever 44 for live aboard and then cruising. Paying cash up to 130k

Thanks for any input,

Sailfish

Gb 42

What year 42 GB Classic are you looking for. We have a 1982 for sale in Sarasota, Fl.

Hey bline99 thanks for replying. Age doesn't matter, it's the care. Send me the link to your 82.

I guess I'll call a broker and get the actual selling prices of the 42's lately compared to the asking price. Then I'll go from there before I throw down the cash.

Sailfish said:

I guess I'll call a broker and get the actual selling prices of the 42's lately compared to the asking price. Then I'll go from there before I throw down the cash.

Click to expand...

Finding a buyers broker and asking for comps on recently sold similar boats is the best approach. Also, BoatUS has a free service that will give you a quote on market value.

Don't know what to say about NADA estimates. With autos, there are literally thousands of used cars with the same or very similar equipment packages but different mileage. Not so much on boats. You do see some auto dealers selling used boats but usually they are the smaller mass produced boats that they take as a trade for a car or take on consignment. If you are looking for the 21' Wellcraft or SeaRay, the NADA values might be close. I kind of wonder if NADA has clue on boats 35' and up. It will be interesting to hear what others say about NADA boat values and I will also be surprised if any of the yacht brokers use NADA. FIW, I view boats values as more similar to real estate than autos.

NADA.
National Auto Dealers Association.

Not the best determinant for assessing vessel value. BUC is much better, as it takes regional differences into account.

Boat valuation is a bit of black art mixed with science. Example- a 1972 Hatteras has a book value of 85k. Refurbished (repowered, rewired, new electronics, new paint, glass, etc) sells for 400-600k based on surveyor valuation. BUC and NADA could never justify that valuation.

Get in touch with a broker- he seller pays his commission, and his experience is worth it.

Greetings,
Mr. S. Welcome aboard. Mr. D gives good advice. Your buyers broker will have access to "Sold Boats" with prices for what boats supposedly sold for. I say supposedly because the onus is on a selling broker to honestly enter what the vessel sold for. I have heard some unscrupulous brokers inflate the actual selling price so whilst Sold Boats may give you an accurate overall range, condition of an individual boat will determine it's selling price.

Thanks so much for replying. I push forward ....

Sure thing. I'd be more than happy to provide you with more information regarding the vessel, but am currently waiting for a response from the sites management. I tried to post information regarding the vessel twice, but it appears that I am not completely familiar with the site rules. Once I hear back, I'd be more than happy to give you some more information about this 'one owner' GB 42 Classic that is priced to sell quickly.

Thanks.

Sailfish said:

Hey bline99 thanks for replying. Age doesn't matter, it's the care. Send me the link to your 82.

I guess I'll call a broker and get the actual selling prices of the 42's lately compared to the asking price. Then I'll go from there before I throw down the cash.

Click to expand...

Bline99...:send it to anthonydself@yahoo

When I worked a short while as a boat broker many years ago we laughed at NADA prices and looked askance at BUC's. An experienced review of Soldboats data is the best way.

RTF is correct. Some brokers misrepresent sales prices. But it is almost always the new boat dealer reporting a resale of one of his original sales and usually it is a newer boat.

For a 20+ year old Grand Banks the Soldboat data should be pretty solid.

David

NADA does themselves and everyone else a huge disservice even publishing their prices. On a smaller boat, like a runabout for a lake, they may be closer. Still no one really uses them.

Three factors to "personally" determine the value of a boat that interests you.

1. Condition, condition, condition: Everything on, in, and about the boat; should be in great condition.

2. Cost: Is the boat price in the general range of similar boats actually recently sold.

3. Wants/desires: Does the boat meet with your well thought-through list of what you (and your mate) want the boat to be and to do. That said - there are trade offs to consider.

BTW - Did I mention Condition??? IMO, really good condition is top of the list. Reasonable price comes in a strong second. Meeting your list of desires for the boat to accomplish is a strong third!

Years ago I was checking BUC prices. I looked at the same month for the previous year and compared. ALL the prices increased by the same percentage rate for all the boats and years I was looking at. That was the last time I checked any of these so called price guides.

sold boat prices is the only data worth looking at and it is questionable.


IMO all these computer data gathering systems give wrong impression to buyers and destroy the market since every seller is set up to compete with the lowest price piece of junk last sold.

Sailfish said:

I have been in the boat market for about 4 months searching for a right one. I noticed that the NADA boat prices are significantly lower tha the asking prices of Grand Banks 42 classics. For example, post are asking 150k and the NADA value is about 80k. Are the asking prices generally that much higher or is the NADA boat values off?

I have been seriously looking at the gb 42's and the defever 44 for live aboard and then cruising. Paying cash up to 130k

Thanks for any input,

Sailfish

Click to expand...

1982 Grand Banks 42 Classic for sale in Sarasota Florida - United States

Thanks Billy!

Bryan

Capt.Bill11 said:

1982 Grand Banks 42 Classic for sale in Sarasota Florida - United States

Click to expand...

NADA is a great source for paying property tax in South Carolina. My county asked for a NADA evaluation to set my property taxes. The NADA value was 1/4 what I paid for it. So there is some good in it!