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Old 02-21-2020, 05:04 PM   #1
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City: Rock Hall Md
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Boat valuation guides

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.
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Old 02-21-2020, 05:10 PM   #2
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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
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