Join Date: Aug 2009
Thanked 6 Times in 6 Posts
Rep Power: 8
NADA really doesn't help much. The best thing to do is find a willing broker who will give you access to Yachtworld past closed sales to get a feel for true selling price for a given boat. Too much variability in boat configurations and manufacturers...unlike the car world where there really are a limited number of manufacturers and options from factory. Many boat configurations are aftermarket and do get factored into price.
A data point on Yachtworld past sale prices. I used the Soldboats.com database to determine the market value of boats we were looking at this past season. Many times I was able to find the listing for the very boat we were about to go look at. It seemed helpful to know what a particular boat last sold for and what, if any, upgrades had been done. We ended up buying this past Fall. I checked Soldboats.com after our sale was complete to see what the Broker had entered. He listed a Sold price that was 15% higher
than what we actually paid.
Some of the entries are accurate as I spoke to other owners/brokers during our search about prior sales. I'd like to think we ended up getting a decent deal on our boat which may have effected the Brokers decision on what to post the sold price at. In the end, those entries are based on the honor system and Brokers obviously want to keep the market elevated.
Last edited by Tanley; 12-07-2009 at 05:12 PM.