NADA and reality

[pine island fred]

In my few years of being on this site I occasionally see references to NADA or KELLY BLUE BOOK for ball park values. I am courious as to how successful people are in trying to get these prices in a private sale.
In the few cars or boats I have sold, I have found that I should be happy if I can get 1/2 of what the dealers report the item retails for. My experience has been that people will finance 6K for the same item that I try to sell for 3K cash. Came to realize people will overpay for something if they can make monthly payments. Same thing for a reliable, low cost, clean local driver car. Grown ups in there 30s have to go to a family member or friend to borrow $500, which they never pay back, just for something for transportation. Maby its the neighborhood I live in !
Question is, how successful have you been in selling a boat or car using the NADA values? Thankyou for your response! FRED

 

[erikgreen]

Re: NADA and reality

Never. Mostly I use the NADA web site to get the manufacturer's original weight for the boats

 

[RotaryRacer]

Re: NADA and reality

It funny how far off NADA is on older boat values.

I just sold an old, little 15' Tri-Hull that NADA says is worth $750 alone...no engine, no trailer. It says that the 1976 70HP Evinrude on the boat was only worth $75.

Those are probably exactly the opposite of reality.

 

[tashasdaddy]

Re: NADA and reality

as far as i'm concerned with boats more than 2 years old . nada is worthless. except to get the weights from, and they are ballpark.

 

[dcg9381]

Re: NADA and reality

as far as i'm concerned with boats more than 2 years old . nada is worthless. except to get the weights from, and they are ballpark.

NADA worthless. Less worthless on larger boats, but still worthless.
Use bucvalue - maybe it's bukvalue (I forget the spelling) - it'll give you analysis of one boat for free, takes into account motor type/hp.

 

[dingbat]

Re: NADA and reality

If I where to advertise my boat at NADA list price I would have a line around the block waiting for me to get back from dropping off the ad at the newspaper office.

Totally useless

 

[fishmen111]

Re: NADA and reality

I also use NADA for weights and models for a given year only. Remember that ANYTHING for sale is only worth what someone will pay (I know...duh). I go into the various online "traders" and search my model both regional and country wide to get an idea of what the model's general asking price is and list mine (or offer) accordingly.

 

[Silvertip]

Re: NADA and reality

Decades ago when I was buying and selling cars, NADA was the "bible" and it was a very reliable indicator of a vehicles worth. However, in todays ever changing markets that publication simply cannot keep pace and it is of value only to lending institutions.

 

[pine island fred]

Re: NADA and reality

Reason I asked, over the past year two different friends have sold a total of 3 boats. Initally they went to the NADA book and priced them accordingly. Well the boats sat, one for 8 months as they insisted they were not going to give them away. Bottom line was that they all ultimately sold for half of what they expected. Then for the next few day they are dejected or even bitter that they could not sell for close to there asking price. I feel sorry for them but figure they set them selves up looking at BOAT TRAIDER or NADA.
Dont know in other areas but the boat sales papers are mostly ads from dealers or brokers with a few real private sales mixed in. I feel this sets the private seller up with false expectations of the true value of their boat.
One more question while I am here. When you put a for sale sign on your boat, do you include the asking price on the sign? Do you respond to the sign if no price is stated ? In my experience I have found the item way overpriced if I had to call and ask. Feel like the seller wasted my time by having me call them. regards FRED

 

[RotaryRacer]

Re: NADA and reality

I put the price I would like to get on items I have for sale. If someone calls and offers me a lot less I just tell them that I have a price on it for a reason and explain why it is a reasonable price. I haven't had the need to sell a great number of things but in the few I have it has been a relatively painless process. I got just about what I wanted for things and the buyer was satisfied. That is the sign of a good and fair deal...both parties are satisfied.

If there is no price on an item I usually don't even bother calling. The only exception to that "rule" is if the item is exactly what I am looking for. In those cases it seems I am willing to pay a little more to get what I truly wanted in the first place. Again, the sign that it is a good deal is if both parties are satisfied.

 

[mikey.himself]

Re: NADA and reality

Actually, i find it to be pretty reasonable. Most prices are right on par with most boats/pwcs/etc. some are out in the water, but most are pretty good....

 

[BillP]

Re: NADA and reality

Pine Isl Fred,

Leaving prices off an ad will reap less sales activity. It's a no no in Advertising 101 and a negative for public relations. The majority of buyers will not call for pricing and don't trust someone who doesn't post prices.

NADA's prices are based on actual sales from SUBSCRIBING dealers and lending institutions, etc. Values vary from location to location and for some reason the web site numbers are 10% lower than the actual hard copy NADA guide (that's what NADA said in an email to me). I've bought and sold a few dozen boats over the yrs and use NADA as a loose benchmark. There are so many variables on older used boats that prices swing wildly either way. You have to somewhat know how to work NADA's numbers to fit whatever boat you are buying or selling. But newer boats (less than 5 yrs) are pretty dead nuts on where I live in Florida.

About the BUC Book. I quit using BUC when they sent me a form and asked how much I sold a custom made boat for. I could have put any price and artificially inflated the "BUC book value". BUC is totally useless to me but a lot of lending institutions use BUC for big yachts.

bp