Learning the HARD way...
Join Date: Jan 2007
Location: Boston / Ft Myers Area
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The Devil is in the Details
Footnotes from NADA;
Prices shown are retail consumer values and to be considered as selling prices. Trade-in values are to be determined by local dealers and are generally lower than values shown.
Suggested List – We have included manufacturers' suggested retail pricing (MSRP) to assist in the financing, insuring and appraising of vessels. The MSRP is the manufacturers' and/or distributors' highest suggested retail price in the U.S.A. when the unit was new. The MSRP is furnished by the manufacturer and/or distributor and are assumed to be correct. Unless indicated, the MSRP does not include destination charges, dealer set-up, state or local taxes, license tags or insurance.
Low Retail Value — A low retail valued boat will show excessive wear and tear either cosmetically and/or mechanically. This boat may or may not be in running order. The buyer can expect to invest in cosmetic and/or mechanical work. Low retail vessels usually are not found on a dealer's lot. Low Retail is not a trade-in value.
Average Retail Value — An average retail valued boat should be in good condition with no visible damage or defects. This boat will show moderate wear and tear and will be in sound running condition. The buyer may need to invest in either minor cosmetic or mechanical work. [This is the number that I pay attention to from NADA. From this I deduct repair or replacement for things that are broken or at the end of their useful life. But then, as I stated earlier, I think that NADA values frequently run lower than reality for the boats that I'm interested in . I guess that what I'm trying to say is that I really don't pay too much attention to NADA - Ed]
Note: Vessels in exceptional condition can be worth a significantly higher value than the Average Retail Price shown.
BUC's footnotes are even more explicit if you follow the links. I'd copy/paste them, but I don't want to use my last free quote to illustrate my point.
What I will do is point the reader to the earlier discussion on Actual Selling Price
which should address what I suspect is the actual issue at hand.
Oh, and I really feel sorry for the guy that paid $10,591 in '03. It seems that PT Barnum was right!
Last edited by eherlihy; 01-06-2010 at 02:45 PM.