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JeffP View Drop Down
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Direct Link To This Post Topic: NADA valuation - correct or incorrect
    Posted: 07/25/2011 at 7:14pm
Hello0 folks,
I've really got a pontoon boat problem, maybe addiction is more like it. I've just got to have one.
 
Here's my question: What is your opinion of NADA valuation for boats, motors, and trailers?
 
I ask because I've found a boat (1994 Waco 20', with a '94 Force 70 HP motor, and '94 tandem axle 20' trailer) that is advertised about $1000 over NADA Average Retail value. I've not tried to negotiate, but last week the boat was posted at $1800 over NADA Average Retail.
 
In the pictures the boat, motor, and trailer look good but it has only two seats, the captain's and a side bench seat, which means there's more room for lounge seats, adirondack chairs, coolers, table, and a grill (which to me is somewhat of a plus).
 
The boat is only 20' long and I'm worried it may not be big enough (I think 24' might be closer to ideal) because I envision having up to 8 people on the boat much of the time.
 
Anyway, back to the question at hand, what is your opinion as to the validity of NADA values?
 
Thanks.
 
Jeff
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Direct Link To This Post Posted: 07/25/2011 at 7:45pm

Too many variables, Nada is just a guide and nothing more (just my opinion). You have to look at the overall condition - what is the asking price so we don't have to guess as what the Nada is since you're not specific. I would have loved to got a 24ft and its just me and the wife, but for me and her, the 20ft is ok and with a tandem trailer its nice to pull. So tell us what is his asking price as that'll make it easier to give an opinion but if you have ANY pics at all of this boat, that'll take a LOT of guesswork out. Motor is the major issue along with log structure integrity when it comes to overall value. I wouldn't expect seats/floor/carpet to be in any kind of shape because if it has the original furniture, then its wood based and most likely is rotted along with the carpet etc.

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Direct Link To This Post Posted: 07/25/2011 at 7:54pm
OK, here's the price and pics.
NADA Average Retail
Boat             2190
Bimini             190
Hummingbird  100
Motor              165
Trailer             430
NADA Avg Ttl 3075
Asking price   4000
 
Pics:
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Direct Link To This Post Posted: 07/25/2011 at 8:16pm

Trailer looks good, cover on motor looks good (but hides true value), think I'd offer 3 as a start, have cash in hand, money talks you know, flash the 3 and keep on waving it and see if his knees buckle a little and the lips starting watering Cool

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Direct Link To This Post Posted: 07/25/2011 at 8:32pm
I think the NADA motor retail is off.  I'd like to find a 94 Force 70 in good shape for $160.00.  Just my opinion of course.

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Direct Link To This Post Posted: 07/25/2011 at 8:32pm
Moral issue: husband recently passed, don't want to take advantage, but don't want to run a charity either. The friend who posted the boat said: deck is solid, motor winterized each year, only two owners (family), boat always covered, bench seat needs new cover, all other seats have been removed (I figure they are in bad shape).

And Charles I don't mean to belittle adiction (I work in healthcare and undedstand the tradgedy), but this feel mighty close to it for me.
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Direct Link To This Post Posted: 07/25/2011 at 8:54pm
I agree with Charles. Just offer them 3,000 or 3,100 and show them thats the book value. Nothing taking advantage of anyone if your paying book value. Plus she does not have to say yes. If she says no ask why she is asking more than book value. Maybe this one has something extra. With that being said if your not sure its big enough you may want to keep looking anyway.
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Direct Link To This Post Posted: 07/25/2011 at 9:55pm
I can tell from the console it wasn't always covered. (again just my opinion)
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Direct Link To This Post Posted: 07/26/2011 at 8:52am
Get the 24 footer !!!!! Can always use the extra room
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Direct Link To This Post Posted: 07/26/2011 at 9:07am
I agree. I have a 20'er and would prefer a 24'er if I had 8 people onboard alot of the time. It gets pretty crowded on mine with an occasional 7 or 8 people, along with all the other stuff like coolers and water toys. Most of the time it's just the 2 of us and suits out needs fine..
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Direct Link To This Post Posted: 07/26/2011 at 2:11pm

I think the NADA, and the other guides, are pretty much useless when it come to placing a value on anything more than 7 or 8 years old. Maintenance, condition and sometimes options or extras have a lot more meaning.

You use NADA if the numbers are in your favor to negotiate price, or get a loan if need be, but other wise forget it. The price you can find by following similiar items on EBay, or by watching listing in local papers are much more realistic.
 
An older boat or RV with new tires, new batteries, service records and a few extras will be worth more than a newer item in need of repair and stripped of options.
 
This economy has a lot of good people selling at fire sale prices, and at the same time manufacturing cost have not gone down. Sad, but its good time to buy and a tough time to sell.
 
I have seen NADA numbers way off in both directions.
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Direct Link To This Post Posted: 07/26/2011 at 2:29pm
Jeff, Just looking at the pictures, I would say their asking price is very much in line with what I see locally. In fact I would say that one looks better than what I see locally advertised at that price.
 
I agree with Charles, that I would start at $3000 and see what happens. I looked at boats for six months before I bought mine, and waited until November, because I hate paying more than someone else. I think my lady calls it "cheap"Big smile
 
If your friend speaks truthfully, even at near asking price, it may be a good value. Even small things like the wood under the tires indicate someone cared for it.
 
I bought a 20 foot and a single axle, mainly because of what I tow with, but on the water I would like at least a couple more feet.


Edited by ressless1 - 07/26/2011 at 2:39pm
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Direct Link To This Post Posted: 07/26/2011 at 8:11pm
You know you are in trouble when your spouse says "You are and interesting person" after you tell her you bought a boat! I thanked her for putting up with me for the past 30 years... (I hope for more good married years to follow, but am resigned to live on my pontoon boat if not...)
 
I just bought (and have a bill of sale this time for those of you following my drama) a 1989 Tracker Marine, Sun Tracker, 24' Party Barge, with at 1971 60 HP Evinrude engine (who here is older than that besides me), with a 20' 1994 dual axle Scorpion trailer.
 
The compression is good on all three cylinders (140 - 150 on each), the deck is solid (1.5 years old), the furniture is ok (one tear, some sun fade), and I'm ecstatic. It's at Bond's Marine in Danielsville GA now awaiting the okie dokie (or man are you stupid) verdict. I hope to be on the lake Sunday (and am taking two extra marine batteries and a Shakespear 20 lb thrust trolling motor for insurance - now who's older than that).
 
I paid less than NADA Average Retail value for the boat and got the trailer and motor to boot.
 
Man, I got it bad... Wish me luck.
 
This probably should be in another section of the forum (as you already know).
 
Pics to follow...
 
Jeff
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Direct Link To This Post Posted: 07/26/2011 at 8:25pm

I have always been told when buying an older boat," Pay what the motor is worth". However we broke that rule with this last one, no motor LOL.  JeffP, we are older than that, but our children aren`t, so I figure we are still young Wink. Plus we only took one extra battery and a trolling motor for insurance.

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