Boat valuation guides

[Njlarry]

Like to hear thoughts on the accuracy of boat valuation guides. There seems to be wide variation between NADA, BUC and soldboat.com.
I know brokers often prefer the higher evaluations in soldboat and BUC but I have also been told that brokers do not report all sales perhaps excluding the low sales. If NADA is used by banks and insurance companies there must also be some crediabilty for them.
State sales tax records would seem to be more accurate of actual selling prices but I know of no such data source.
Whoever said the boat market is inefficient hit the nail on the head.

 

[DavidM]

I was a boat broker for almost a year based in Annapolis. Our brokerage owner insisted that we scrupulously report accurate sales values for Soldboats. I also watched how other brokerages report Soldboats and found only one case out of maybe a hundred of misrepresentation.

It was a resale for a specialty boat for which the broker was also the new boat dealer. He obviously wanted to keep his resale numbers up so both he and the boat line he sold looked good.

So I have fairly high degree of trust in Soldboats data. Not so with the others unless it is a trailerable boat.

David

 

[T28w]

Is the info on soldboats only available to brokers?

 

[Mermaid]

Years ago, on SoldBoat, I found the reported sale of the boat I bought to be stated for way more than I paid. I don’t trust any of those reporting resources to be accurate. Yacht brokerage can be a very deceiving business. I’m not say they all are, it’s just that there is a lot of dishonesty in it and that tends to stand out...you know the saying, “a few bad apples.”

I also found my boat listed for sale by a local, but large, brokerage. They were using it as a carrot on a stick bait. Same thing happened to my friend with a similar boat. We had friends call on our boats, and they were told it was under contract, or a survey was scheduled, whatever, only to then suggest a different boat. One time, they reported my boat as having just been sold. I went in there one day and asked for my check. Busted.