How about them NADA values!!!!!!!

[LovinPowell]

The problem now being that if you are Da Bell and bought a 2007 24Ve ( I don't know what he paid) for $70,000, and put %15 down (10K) and made payments for 18 months, then you probably still owe over 50K on it. Then some doofus like me comes along and says: 'NADA says blah blah blah so I will offer you $46000'. The guy selling the boat then tells me to pound sand because he can't sell for less than he owes. If he had extra money, he wouldn't need to sell in the first place, so he has intense incentive to keep the price higher. That process will continue until something breaks. The boat will either go to the bank, or he will continue to make payments and not sell it at all. Now you see why Da Bell keeps his boat. Luckily for him, he can afford to do that. I am sure that the banks are taking some boats, but I do not know where they go, I think the bank repo auction is where best deals are at. I would shop there if I could figure out where it is.

So far the advertised internet prices are pretty good, but not spectacular if you ask me.

What about the guy who owes less than what it is worth?

[jwanck11]

you still have lost value... but at least you are in a position where you can breath easier if you need to sell...

[talltigeguy]

What about the guy who owes less than what it is worth?

That guy is the guy that you look for, but he seems to be a rare commodity. But he is still gonna be pissed that he has lost 25K in value in 18 months, so he is less likely to sell. I think the higher end boats are owned by people who are weathering the storm a little better, so they are just sticking with it.

[Domsz06]

I agree with u tall. I'm not boasting or bragging, but all I hear about is people complaining about the economy. While here I am trying to take advantage of the good deals t be had. ( I'm knocking on wood just in case)

[da.bell]

There are a lot of great deals to be made. In my case, I am not willing to lose my arse on the boat knowing that I can afford to have two and know that renting it out will make me money where I probably can pay it off in <5 years. I am thinking of it as an investment now.

[Domsz06]

good idea da

[ragboy]

There are also a lot of good deals for unsold inventory, I am looking at a river boat, and I am probably going to save about $15k than what I would have paid, due to left over inventory when people aren't buying.

It is true that many ads on used boats still show high numbers, but you just show them what you can get new (old inventory) and nada values and then make your offer. Its a buyer's market.

[illiniboarder88]

I would say the biggest deals are probably in the new or nearly new. The reason I say that is this is where the most expensive stuff is, and thus, there are fewer buyers. I also think there is a lot of new inventory out there (07's, 08's, 09's), and I think a lot of the dealers and manufacturers are more heavily financed right now than consumers.

[Timmy!]

A dealer can normally "afford" to take a bigger hit than we can since they aren't actually losing anything. For us normal people that paid $60k for our boats it's a lot harder pill to swallow if you have to sell for $46k vs. the dealer who probably only had that or a lot less in it to begin with.

[Domsz06]

they are making at least 100% on boats so even selling at a reduced price they still make $$$

[illiniboarder88]

It depends on the financing arrangement and probably varies company by company. I do not believe that boat manufacturers simply give all dealers all of their inventory. Some do this but not all. Furthermore, consider overhead and add-ons such as steros and the like. I think it will be interesting to see how things go because as dealers start closing, what will servicing be like? I know places make money on service, but they don't make it in chunks like they do on the sale of 50-60k boats, and there will still be some overhead to have a shop and employees.

[talltigeguy]

So now fast forward 3 years. The year is 2011 or 2012.

Some guys are selling their 2007 or 08 leftover purchases that they got as a steal in the 50's and other guys are selling their 2009 models that were not given away at such great prices. Used buyer comes in and sees that the 08 is 10-15K less than the 09...which will he buy? The possible 08 purchase price is mid 50's and the 09 probable purchase price is closer to 70K or more. So the disparity between some 08 and 09 models in 3 years may be around 15K. The 09 has underfloor ballast and PCM engine instead of MP and the old tanks.

How do you think that scenario will pan out?

[dogbert]

well what's going to happen is that people will not buy new due to pricing and lack of ability to get financing. Thus the boat dealers will have to dump inventory. This will make the used market drop even more.

It's a vicious circle that will get us each our very own RZ2, preferably and 09 model

[chpthril]

How's this for a steal

http://www.wakeworld.com/MB/Discus/m...tml?1226009203

[jake]

Just doing some research on what people are saying about boat values these days and found a few items interesting. It seems that NADA is booking boats out at values that are far less then in recent history. I suppose that they are trying to reflect what is going on in the economy, but I think that they are pretty close to what I see as truth. I have watched boats come and go online and they do not seem to be going until they get to low retail value.

Low retail examples pretty well equipped with tower speakers and the whole setup:

2007 24Ve (this is for you Da Bell) : $45855
2007 RZ2 $46615

I think these prices are very low, but reflect the truth in today's economy. I know there are limitations to the NADA guide, but nonetheless it is at least someone who is trying to tell us how much stuff is worth.

I know a boat dealer in Atlanta (American Boat Brokers). I called him up to see how he's doing. He said he's still selling boats, at about 3 per month. Of course I asked how. He said, "if your willing to sell it at wholesale, it will move"...then he said your good day is low retail. That's it, end of story.

Here's the part that KILLS me. ALL the dealers have a massive 08 inventory, and many still have 07's. The dealers just don't understand that they will never turn a profit on this old inventory in this recession. Unload at cost, sell the 07's under cost and MOVE ON. (not to be confused with the idiots at moveon.org).

You point about true value is dead on!