crack prices

[NautiDave07]

Guys,
As you all know my boat has been for sale off and on for a while. I had low ball offer after low ball offer and am considering just keeping it. I was just wondering what people on here are thinking when it comes to boat sales pricing. I know NADA has priced all our boats low. Also todays consumer does not want to pay more than book value and most refuse to pay more. I have mine listed at a few K under the NADA price and have the upgraded illusion trailer with 20's and continue to get guys that want me to sell to them for 10k under book. I have also had guys with 7-10 year old boats wanting to trade which I was open too. However it seems these guys want to offer me way under NADA then expect me to pay them 7-10K over NADA retail on their trade. WHAT gives I mean we are all in the same boat trying to sell in a bad economy and I know that these boats used to be worth what these guys are asking in a good economy. Am I wrong to expect A fair deal on a trade or what? After all I would be taking a boat someone wants to get rid of and getting another boat to sell that I don't want. It would get me out from my loan but If I wanted to trade and get raped on the deal I would trade to a dealer and get a new boat myself.
Sorry for the rant

[Shooter]

RE: crack prices

I looked for a while and saw many people with asking prices that were too high. I ended up purchasing a boat priced slightly above NADA. As a recent buyer, I know the biggest issue is financing. Financing is tuff and NADA is used when lenders estimate boat value. The bank doenst care that the seller may have 20's on the trailer or a 10K stereo installed. I would say its a bad time to sell a 07 236. Newer higherend boats appear to be harder to sell because the financing is not there and the deals are so good from the dealer. Used boats are still selling. Maybe its your location, maybe its the boat, maybe its the price. I would keep it and wait till next spring. Maybe it will be a much better time to get a good price.

[NautiDave07]

RE: crack prices

That,s what I intend to do. Just hang on to it. I believe it is the fact that it is a higher end boat. Most people looking at dropping 55-65K would spend 70 and get a new one. Me personally I would not buy a new one again just because of the way more rapid depreciation. I understand fully about the addition of options you mentioned it just seems that the people don't. It's like they put that money in and want you to give them all of it back out which never happens. I have heard from several small time brokers that they haven't sold many boats over 50k in the last two years.

[Nautiqueman]

RE: crack prices

Financing is the limiter here. You will not be able to finance above book value, so that lowers your sale price. Cash buyers don't have to take your boat over a new one for the same price. New boats can be bought for about what you want for yours. Imagine if you are having trouble moving yours, and the dealer has new 2008 boats for sale, then who is more motivated to sell? The warranty is also an issue. New boat owners get labor and parts, when the second gets only parts. That feature alone is worth $6K to me. I am seeing several dealers with 2008 boats for sale so that indicates how tought the market is right now.

I say just hold it and enjoy it! That is the best way to get the $$$ out of it!

[Jole]

Your asking alittle much for that boat IMO.

[NautiDave07]

I think you guys are right really the only way to get my monies worth out of it is to just use it and enjoy it. Every time I am in it I don't want to sell it. Just sometimes regret spending this much money on a toy.

[Nautiqueman]

This is a good lesson for all of us. Don't buy one of these new unless you know there won't be any problem paying for it over time and/or you don't need the cash if it is paid for at the time of purchase. I think New boats take about a 25% to 30% hit in depreciation now in the current market for the first year or so.

[WA-H2O-SKI]

As far as financing goes....... it all depends on the little guy sitting on the other side of the desk. I bought a 2003 Ski Nautique 196 Limited this summer. It had 37 hours on it. Basically a brand new boat, never left a climate controlled garage. Now this boat is pobviously worth more than the NADA price. The loan guy was a boat guy himself and just didn't care the NADA was lower than the asking price. On the flip side, the granny that worked at the other bank in town told me the NADA was lower and that she would only finance 80% of that amount. So it is all in the eyes of the beholder........ the BANK!

[SkiTower]

As far as financing goes....... it all depends on the little guy sitting on the other side of the desk. I bought a 2003 Ski Nautique 196 Limited this summer. It had 37 hours on it. Basically a brand new boat, never left a climate controlled garage. Now this boat is pobviously worth more than the NADA price. The loan guy was a boat guy himself and just didn't care the NADA was lower than the asking price. On the flip side, the granny that worked at the other bank in town told me the NADA was lower and that she would only finance 80% of that amount. So it is all in the eyes of the beholder........ the BANK!

Any bankers on PN? could probably drum up some good business Yellow_Flash_Colorz:

[H2O]

Unfortunately for sellers of late model boats, you are competing with dealers who have carryover 07, 08, and 09s that must be moved. As an example, a dealer had a brand new 08 230Team listed on Ebay just a few days ago. Buy It Now price of $60k. No takers!!
If you must finance toys then be prepared to own them until the loan is paid off or be able and willing to come to the table with cash in order to sell it if the market turns south.

[tdc_worm]

i see it like this---you have to ask yourself the question: "where/how do used boat shoppers look for boats?" the majority of them pick up a copy of boat trader and if they are internet savvy enough to find NADA values, then they are savvy enough to look up comparable vessels on boattraderonline. if you were zip code assigned to a dealer that gets premium prices for his boats, you are going to suffer in the resale arena, because people shop and use comps nationally.

i submit to you that as long as CC protects its dealers' profit margins by assigning zip codes rather than protecting the consumer by allowing him control, the consumer will always suffer in your situation.

[harddock]

Buy High. Sell Low thats what owning a boat is all about!

[Chattwake]

Well, I've been very pleased with used values of the boat's I've owned.... and I try to get a new one every year.

[NautiDave07]

Thanks for the ridicule guys it was just what I needed. I agree with all of you but I do make the argument that no one knows with certainty that things in life won't change or bad things like job loss won't happen. There is never a way to know for sure that you won't need the money you spent on the boat or know that you are sure you will never have a problem paying for it. Life happens! It happened to me I was laid off from my job and was thinking of selling the boat to take some heat off the ole wallet. I have been fortunate enough to fall right back into a decent job and not fall behind on anything. I am getting ready to write my old company a thank you letter for allowing me a lot more free weekends to spend on my Nauti.