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Catalina 400 Used Boat purchase

2606 Views 9 Replies 9 Participants Last post by soulfinger, Oct 22, 2009

TSOJOURNER

Discussion Starter · Oct 7, 2009

Hi,

I've been recently looking at purchasing a boat and i think i've narrowed it down to a Catalina 400. (I would rather not debate the merits of a C400, but rather the appropriate used price).

I have looked to NADA guides for some guidance on price, but the prices here look significantly different than what are listed on yachtworld. Average Retail for a 2003 (with no additional features) is 149k, but there are several listings for 185-189k on yachtworld. Is it customary to get this type of discount when shopping? Or is Nada just wrong?

I have heard that boat prices are down significantly, but this seems a little strange. also i can appreciate most people here are likely owners of these boats and would rather no want to talk down the price of their investment, but it would be nice to hear a little more background as to what the appropriate value is.

thanks for your help (i tried to post a link to nada, but this is my first post and sailnet won't let me do that)

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chef2sail

· #2 · Oct 7, 2009

ERhorner,

Were you by chance looking at the catalina 400 for sales in Pasadena this last weekend. I know the boat well as well as the current owner. We saw people looking at her as she is in the slip next to us.

Dave

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TSOJOURNER

Discussion Starter · #3 · Oct 7, 2009

actually im up in new york, but i have seen Slainte Mhor on yachtworld. The one i saw was at coney's.

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denverd0n

· #4 · Oct 7, 2009

As with cars, the NADA guide is just an average. Expect a well-kept and well-equipped boat to go for considerably more. Another factor is that a lot of sellers haven't yet come to accept that prices have dropped. I'm seeing the same thing in the process of looking for a house right now.

People bought a house in 2006 for some grossly inflated price and think that they should now be able to sell it for some sort of a profit. So now they have it on the market for $450k when comparable houses in their neighborhood have been selling for $250k in recent months. These are just people who are either going to get a rude shock when someone finally makes them a realistic offer on their house, or who are going to have their house sit on the market for months on end before they realize it is simply NOT going to sell at their dream price.

Same with some boat sellers.

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JoeAbb

· #5 · Oct 19, 2009

The 400 at coney's. is a trade on a new 445. So coney's owns that 400, I am sure there is movement in the price.

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Cruisingdad

· #6 · Oct 19, 2009

erhorner said:
Hi,

I've been recently looking at purchasing a boat and i think i've narrowed it down to a Catalina 400. (I would rather not debate the merits of a C400, but rather the appropriate used price).

I have looked to NADA guides for some guidance on price, but the prices here look significantly different than what are listed on yachtworld. Average Retail for a 2003 (with no additional features) is 149k, but there are several listings for 185-189k on yachtworld. Is it customary to get this type of discount when shopping? Or is Nada just wrong?

I have heard that boat prices are down significantly, but this seems a little strange. also i can appreciate most people here are likely owners of these boats and would rather no want to talk down the price of their investment, but it would be nice to hear a little more background as to what the appropriate value is.

thanks for your help (i tried to post a link to nada, but this is my first post and sailnet won't let me do that)

If would be SHOCKED if you got a 400 anywhere neat 149. If so, I would suspect some serious issues with the boat. NADA is a horrible source for boat prices. Most of the brokers/surveyors I know have long since given up on them.

- CD

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sailingdog

· #7 · Oct 19, 2009

I'd highly recommend listening to what CD says about Catalina 400s... he knows a lot about them....

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JimMcGee

· #8 · Oct 19, 2009

When I was looking at late model Catalina 30's two summers ago I found a $25k delta in asking price for boats that looked similar on paper ($40k-$65k), so it doesn't surprise me that you'd see a $40k delta on boats in your price range. What they look like in person and what equipment is included have a LOT to do with the final selling price.

How long the boat has been on the market is also a big factor and in this economy there are boats to be had cheap if you're patient. I watched the price gradually come down on my boat for several months before I finally went and looked at her - but you're betting that someone else won't grab her before you do.

erhorner said:
I would rather not debate the merits of a C400, but rather the appropriate used price.

Catalina's are great boats when used the way most really sail (not in 30' breaking seas in the Southern Ocean) and their customer service is downright amazing for the boat business. That's why they have such brand loyalty. It seemed like everyone at the Catalina party in Annapolis this year was on their second, third or fourth Catalina. We're on our second.

The C40 at Coney's looks to be in really nice shape. Good luck getting her.

Jim

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PalmettoSailor

· #9 · Oct 20, 2009

Ask the broker to print a report for you of the C400's sold in the past year or two. That will give you some idea of recent sales prices to which you can then apply your SWAG of how much prices have depreciated in this economy.

Good Luck, from another satisfied Catalina owner.

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soulfinger

· #10 · Oct 22, 2009

When we bought our current boat, we found it very difficult to figure out what the "going rate" for a given boat is. Obviously, equipment, condition, and location are big factors. The broker provided us "comps" on similiar boats, and they confused us more than anything. That being said, I try to watch the market on Catalinas, and I agree with CD that $149 sounds quite low for a 400. It's even low for a 387.

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