Boat pricing

[Cocoa Jack]

Hi All,

I need recommendations on a good website to check boat pricing. When I go to NADA for example, it is not asking for engine or generator hours or other items specific to the model that would affect pricing. I also went to Boat Crazy and it also had the same generic list. On both sites, the price is coming in at about 25k cheaper than what the owner is asking. Any suggestions would be greatly appreciated.


Thanks

[Norseman]

Go to Yachtworld and look for asking prices, then deduct 5-10% for estimated actual selling price.
Or, if you have a broker or surveyor buddy, then can pull up the actual price similar boats sold for in the last 2 years or whatever.

[Cocoa Jack]

Thanks Norseman!
BTW, I read somewhere on the forum that some 28 TE owners are asking more for their boats (and getting it) than they book for which can lead to financing issues with the bank.
Does the higher asking price as far as book values go also apply to the 31TE, 32 + 2 and 35 CB?
To the 28TE owners who have their boats for sale, I want to clarify that I was in no way implying that your boat is not worth what you're asking for it.

Thanks

[RobS]

Capt. Jack,

Back in mid-2014 I had TOY-RIFIC, my VERY nice 2000 28TE listed at $78K. I was offered $75K and accepted it. The buyer was a great guy, and very excited to be getting a great boat and had no problem paying top dollar for it as he knew what he was getting. I was getting close to asking price, so what could be better for all involved.... We entered into a P&S.

A few days later the deal is canceled because he needed financing and the bank was coming up ~$25-$30K light. I don't recall the exact max they were willing to lend but I think it was around $50K. He was really bummed.

A few days letter buyer #2 appeared and I accepted his $73K all cash offer. Sadly buyer #1 found alternate methods for funding and re-contacted me but at that point the deal with buyer #2 was underway and soon completed and T-R went to a good home.

[Jaredh]

Hi All,

I need recommendations on a good website to check boat pricing. When I go to NADA for example, it is not asking for engine or generator hours or other items specific to the model that would affect pricing. I also went to Boat Crazy and it also had the same generic list. On both sites, the price is coming in at about 25k cheaper than what the owner is asking. Any suggestions would be greatly appreciated.


Thanks

We encountered the same problem when we were shopping and finally landed on our 2003 28 TE Flush Deck (Formerly Dogonit). The ask was $85k, we offered $75k and it was accepted.

We had to shop a number of different lending options, but Shawn Rogan at Sterling Associates was able to get us a 15 year note at 4.25% with 10% down. This was back in March. They used the survey and sales comps to determine value. We certainly plan on paying the loan off long before 15 years were up but this timeline offered the lowest rates with the lender we used.

[Cocoa Jack]

Hi Jaredh,
Thanks for your post as it gives me hope. My wife and I are going to view a boat Saturday. Keeping our fingers crossed...