Re: What Is A Boat Really Worth?
IMO, all the sales databases are inaccurate. There simply isn't enough turnover to set an accurate market. That, and are all sales reported?
If a common boat, a 1985 Catalina 30, sells for $30,000 does that set the market? What about condition, location, options like tall rig etc? And when will the nxt 1985 Catalina 30 sell? A week from now, month from now? Getting into the less common boats this is even more of a problem.
With regard to database pricing setting the market, cars sell by the thousands every week. The most accurate databases are Manheim and statistical firms like Galves. They are relying on thousands of units sold, so the pricing is very good. For example every week there could 500 2011 Honda Accord LXs going over the block. Even it's only 100 there is a meaningful sampling. That sampling is the range that sets the market, from best to worst condition. However, with boats, we are down to, at best, single digits of that exact model selling. Why would i pay a database price when there is no accurate centralized pricing system?
Last edited by TJC45; 07-17-2013 at 03:08 PM.