NADA Guides Discussion

[RobS]

My dealer recently sold a 2000 28TE for 79K.

Well there you have it. In 2007 my 2000 boat was listed for $91,500. I hung in there and 4 months after my initial interest I ended up paying $79K exactly. Just like I said, I can get my purchase price back, maybe even the tax, but not the upgrades and extras.

[jcollins]

Posts from For Sale forum moved here.

[Mariner]

I am a broker and I agree that NADA means absolutely nothing. I've had customers come in and talk about where they think a boat should be based on the NADA Guides and I'm often scratching my head. I honestly think, at least when it comes to boats, NADA must just use a dart board. Perhaps for the 18' bowriders it's more accurate, but for real yachts, it's meaningless. Boats are extremely unique in terms of condition and equipment. And, in a market like this, the vast majority of boats out there for sale are bad enough in both regards that most buyers would choose to pass at any price.

In response to the question of what are you, as a buyer, supposed to use aside from NADA, I recommend that you do as most buyers do; find yourself a reputable broker to represent you as a buyer in the transaction. They will share with you the Soldboats.com (Yachtworld's sold boat database) data for the boats you are looking to buy and recommend a negotiating strategy for getting the boat for a fair price. A buyer's agent costs the buyer nothing and can save you thousands (or more). If you are dealing directly with the listing agent, and are looking for some leverage in negotiating, ask them to show you the comparables on Soldboats.com. Have them do it while you are right there at their desk. Make them support their asking price. Most brokers will consult this database before pricing a boat and will usually price it a little above what that data supports, to give the seller some negotiating room. This is just about guaranteed to save you some money.

I've already said too much.

[Mariner]

Oh, but I do have to give a plug for those trying to sell their boats; if you're not listing your boat with a broker, you are wasting your time. The increased exposure you receive by having your boat listed on Yachtworld is something you probably can't comprehend. We list all our boats on YW, boats.com, and Craigslist. YW and boats.com are the same site. YW gets around 1,000 times as many hits as boats.com. Yes, I said ONE THOUSAND TIMES as many hits. That is not an exaggeration. Craigslist doesn't track hits, but I do track the number of leads I get from it. I get about ten to twenty times as many customer leads from Yachtworld as I do from Craigslist.

If you are only advertising your boat on Craigslist, you are only reaching one tenth of your potential buyers. LIST WITH A BROKER. The 10% commission pays for itself when your boat sells sooner and for more money.

[zinbaad]

Of course no one wants to over pay...But I would much rather pay top dollar for a boat (or Car) that has the lower hours, kept in mint condition with all service records & has all the options and have that peace of mind than look forever for a "Deal" (Steal) and have headaches and be unsure for years to come. With the high cost of repairs, slip/land fees and limited time available in some climate, traveling all over the states to find the "Right one", all those additional expenses could really ad up to that 10-20% savings.
Yes, I have heard I might have over paid for my 31, well if I did I'm smiling like a pig in poo & got out with peace of mind on a low hour, mint condition, loaded 31 which has now performed flawlessly for almost 280 hours these last two seasons.. At 57 years of age, the clock is ticking & the last thing I want is to have a dead boat sitting on land, paying the slip fees as the years go buy....... Maybe I should have waited and searched those two seasons for a deal, lol So, so glad I didnt, the rewards far outweighed the percents I might have over payed (over 5 years disapears anyway)
Grateful Over payer, lol

[jsa3107]

A question
What does a new 2011 cost retail?

[jcollins]

I may have missed this in the discussion but many boats, including Albins, retain value. I purchased mine in 2005 when the economy was good. I looked into financing and found the loan value was far less than the asking price. I mentioned this to the seller and his reply was "it's an Albin". There were two other buyers looking at my boat. If I didn't buy it the next guy would. I decided I wanted a convertible so I bought it. Mechanical and interior condition was stellar. The hull needed TLC and it did take a couple of years to get it where I wanted it to be. Personally I wasn't worried about resale since I planned on keeping it for awhile. Albins are a niche boat and don't flood the market like Searay or other clorox bottles. There are some great deals out there and there are bad deals as well. I agree with Zinbaad. You may save 20k now and just put it back into the boat in repairs.
Find the boat you like. Get a hull and engine survey. Bite the bullet.
To answer your question about the price of a new one, I've read here in a post from January, 175 base up to 200.

John

[Mariner]

A question
What does a new 2011 cost retail?

A new 2011 what?

[jsa3107]

My dealer recently sold a 2000 28TE for 79K.

Well there you have it. In 2007 my 2000 boat was listed for $91,500. I hung in there and 4 months after my initial interest I ended up paying $79K exactly. Just like I said, I can get my purchase price back, maybe even the tax, but not the upgrades and extras.

Well that would figure correct
So that means a 2003 model would be 79K today with options
That would still be over Nada Guide but somewhat close

[Veebyes2]

I am a firm believer in that with few exceptions, you are going to get what you pay for.

That 'steal' will most likely have a long list of issues that will need taking care of before you can turn the key & use it.

I lost the sale on my 32' workboat a couple weeks ago. The buyer could not wait a week while the boat was on hold for another, who could not raise the $ in the time. He went & bought a 25 year old 30' side console, gas powered twin engined Cris Craft. I know the boat from when it was imported into Bermuda in the late 80s. It was a money pit then, never mind a gas sucking pig. He got 'a great deal' on the boat. A safe bet that in no time he will have sunk way over what mine would have cost him. Mine is 'turn key' right down to bottom painted & tanks full. No issues.

[jsa3107]

I am a firm believer in that with few exceptions, you are going to get what you pay for.

That 'steal' will most likely have a long list of issues that will need taking care of before you can turn the key & use it.

I lost the sale on my 32' workboat a couple weeks ago. The buyer could not wait a week while the boat was on hold for another, who could not raise the $ in the time. He went & bought a 25 year old 30' side console, gas powered twin engined Cris Craft. I know the boat from when it was imported into Bermuda in the late 80s. It was a money pit then, never mind a gas sucking pig. He got 'a great deal' on the boat. A safe bet that in no time he will have sunk way over what mine would have cost him. Mine is 'turn key' right down to bottom painted & tanks full. No issues.

I guess i am not getting the point this was about fair value not trying to steal or rip someone off
It has to do with what is the correct value again not trying to steal something

[furball]

Well this certainly has been entertaining.
jsa3107, I know I speak for most everyone on this website when I say we're happy to have you. We hope you find your perfect Albin.
Coming to a forum of happy owners however, expecting agreement on pricing at what you consider a fair price may be a bit much to ask. If there were a forum of people strictly looking to buy Albin's, I'm sure all would agree that the asking price of owners is WAY to high. We owners on the other hand, we know their value
I say enjoy the whole process. Funny thing is, what we think makes no difference when you buy your boat. Everyone here can say, sure something $ for something year boat etc etc, but the only thing that matters is you and the person that owns the boat you want. They get to decide selling price, you get to make an offer and the best part is, the transaction almost always, and should always end with both parties saying "Thank you"! How great is that. Try to get the best price on the boat you want. I've seen a couple of Albins sell for what I consider to be a steel. But don't hold it against us if we defend every penny in the "value" of our boats. Speaking for me, the value I get for this forum added to the value I saw in the boat. Probably paid a little more because I felt comfortable with the information I could get if I needed it. I knew a lot of little details to checkout before I ever stepped on an Albin. I paid more for a boat with every receipt for every component, a manual for every system and a receipt from every service performed on the boat before I bought it. I don't know if you value these like I do, you and I may very well not agree on their value. That's where the fun starts.
Good luck and I hope to see you defending the price of your Albin soon
John

[jsa3107]

Well this certainly has been entertaining.
jsa3107, I know I speak for most everyone on this website when I say we're happy to have you. We hope you find your perfect Albin.
Coming to a forum of happy owners however, expecting agreement on pricing at what you consider a fair price may be a bit much to ask. If there were a forum of people strictly looking to buy Albin's, I'm sure all would agree that the asking price of owners is WAY to high. We owners on the other hand, we know their value
I say enjoy the whole process. Funny thing is, what we think makes no difference when you buy your boat. Everyone here can say, sure something $ for something year boat etc etc, but the only thing that matters is you and the person that owns the boat you want. They get to decide selling price, you get to make an offer and the best part is, the transaction almost always, and should always end with both parties saying "Thank you"! How great is that. Try to get the best price on the boat you want. I've seen a couple of Albins sell for what I consider to be a steel. But don't hold it against us if we defend every penny in the "value" of our boats. Speaking for me, the value I get for this forum added to the value I saw in the boat. Probably paid a little more because I felt comfortable with the information I could get if I needed it. I knew a lot of little details to checkout before I ever stepped on an Albin. I paid more for a boat with every receipt for every component, a manual for every system and a receipt from every service performed on the boat before I bought it. I don't know if you value these like I do, you and I may very well not agree on their value. That's where the fun starts.
Good luck and I hope to see you defending the price of your Albin soon
John

John

For the most part I agree
That is why I became a paying member today
It is a great site
I still don't understand why we would pay over high book but you are right I guess if I owned one I would want all I could get
It may come down to if I paid 100K for a boat I guess most that do that don't have to sell and can wait it out
I am sure as things get better they will level out in value
Good luck to all ......