NADA Guide prices always below the asking price???

[mdub777]

Hello,

I am trying to find a good deal on a used boat and the only buying price guide I can find that seems comprehensive is the NADA website. However almost every boat I look up the suggested price is under (sometimes half) the asking price of almost every boat I look at! Whats the deal? I am new to boating so I guess I expected it to work kindof like a car. Just go to kelly blue book and you have an accurate estimate of what you should pay? I have literally only found a handfull of boats that even come close or under NADA?

I have questioned the sellers and the typical response is:

Good luck trying to find one for THAT price!...

That doesn't include trailer upgraded engine etc etc.. (YES it does! I add those items in the NADA fields)

Any help would be appreciated!

Thanks!

 

[ezmobee]

Re: NADA Guide prices always below the asking price???

Nada is pretty worthless. That's about all there is to it. Your best bet is to watch Craigslist to see what the asking prices are in your area. I have noticed, from spending a lot of time on this site, that boat prices fluctuate greatly across the U.S. For example, the Pacific Northwest is particularly high.

 

[werthert]

Re: NADA Guide prices always below the asking price???

And boats seem cheap as chips in Florida....
Unfortunately, they are high in MO....

 

[1984Fabuglas]

Re: NADA Guide prices always below the asking price???

A friend that works for the Bureau of Motor Vehicles gave me this explanation.

Boats prices on Nadaguides are often reflective of the reported paid amount to the Department of Motor Vehicles.

As most boats on the secondary market are sold by private individuals and not dealers the seller will often leave the purchase price blank for the purchaser to fill in. (Not sure if this is legal but it happens a lot.) In order to prevent paying sales taxes on the boat (done when you go to put the tile in your name) the purchaser will claim what they think they can get by with.

Often times the value of the motor and trailer are removed from the value. This is often the case with inboard boats especially.

 

[bruceb58]

Re: NADA Guide prices always below the asking price???

Old thread.