bullitt731

Low Hours and Condition Resale Value Calculations

18 posts in this topic

I'm trying to determine an adjusted selling price for my 2000 235SSI based on current book value. Without going into great detail the boat is immaculate with updated features not found on the original series. When you look up prices on low mileage autos there is an additional bump for condition and mileage. However the NADA boat values have no such figures for these considerations that I could find. Obviously the selling price would ultimately be determined by what a buyer is willing to pay, but I am trying to determine a logical formula for an adjusted selling price.

Additional questions would be what is considered average yearly hours for a midwest fresh water lake run boat and what dollar figure would be calculated accordingly. As an example average boat hours figured at 50 per year. Value associated with 50 hours of run time @ $500.

Calculations for a 2000 model year boat in pristine condition.

$22,500 base book value

Normal total hours based on 50 per year 850

Actual current documented original hours 250

600 hours multiplied by $500 per 50 equals $6000

Adjusted resale value $28,500

Obviously dealers set their retail prices higher based on condition and hours so I am trying to determine to some degree how this is calculated.

Thanks in advance for any reply's.

 

   

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My NON Chap dealer KNEW what my first 186 was worth. He sold it for what was my pie in the sky asking price.  The water skiing family loved the V8 in a 186 SSI with all the gear & a grippy SS prop.

You need some selling luck too............ NADA is for a DEALERS prices.  Buy low.  Sell much higher.

One thing you might do is to have a neck snapping prop on the boat. That DOES sell a boat faster than 5 seconds to get on plane. The sprained necks are a winner every time.

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Low engine hours does not translate to a higher selling price, as it typically does with cars. But overall condition does affect price. Look to see what similar boats sell for in your market area. Price yours at the high end of the range, to factor in your boat’s condition.

brick

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The boat can sell for what a buyer will pay. I recently sold my mint 2008 29' day boat with a 496 and with every possible option, in perfect condition. There were 40 of them for sale in the US. I priced mine above the rest to reflect condition and the phone was quiet for 3 months. I priced it on the low end of the range and the phone lit up and sold in 3 days. Also, additions and upgrades are for the user, not the buyer. Every boat dealer in the world will tell you never expect to recoup your cost.

So price it high and be ready to wait for that one buyer, or price it to sell and move on.

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If it helps at all, our 235SSi with 300 hours on it, aluminum trailer, very good condition overall, was purchased

for  $19.5K last spring. Our's is a 2004.

One good thing about this model, there are not very many for sale, any year, anywhere. And it is a desirable size

for a cuddy.

Looks like the OP just got the boat in May of 2016. Short term of ownership......

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On ‎12‎/‎1‎/‎2017 at 7:07 AM, paulswagelock said:

^^^^^^^^^ kinda blows the Original poster's price adjustment calculation out the window.....

uhh yeah.    Nobody is paying a large premium on a 17 year old boat, regardless of hours and condition.  I'm just wondering where this hours premium equation comes from???

 

End of the day condition and hours play a factor and will allow you to price your boat at the higher end of the spectrum.  When I say spectrum I say book value and not over book value.  Even then you price what you want, doesn't mean it will sell.

 

To the OP nobody is selling boats over book value especially not 6k over book value, your pipe dreaming if you think your figures are even close to what you can get. Also upgrades rarely matter, they may add to sellability, but are not going to effect value that much.  Many buyers including myself would rather have the item be OEM and in great shape vs some upgrade that may or may not work, and may not even be an upgrade in my mind.  Upgrades are for the current owner, they don't play much on a buyer and shouldn't be used to really price anything.

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I agree.. I hope you enjoy owning the boat because at that price and this time of year you will own it for a while. 

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Pricing is hyper-regional no matter the boat.  More expensive for the same boat over there verses over there.  By the time our boats get to be a certain age, many of them have tons of upgrades and added features and many times can come with thousands of dollars of wakeboards, auto inflatable vests, expensive live vests, skis, paddles, anchors, expensive stereo equipment, subs, led speakers = and other extra equipment, a tower, etc, etc and those items can just be a sunk cost and/or may just sell it faster.  My personal opinion coming from the extreme heavy boat ownership state of MN where the used boat world is our oyster, because everyone has a boat and many don't get used and get sold with extremely low hours in pristine conditions and were stored indoors.   The engine in your 2000 I presume is a small block V8 which if it is original would be pre MPI.  Any I/O without an MPI engine is getting passed by no matter the price or condition regardless if it is EFI or not.   It seems to be a demarcation line pricing wise that I see as a sort of generalization.   

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hello,

 

I did a quick google for 235's for sale, and you are very HIGH.

I also looked on NADA, and i got a much lower book value.

Its and 18 year old boat, would you pay what you belive the adjusted resale value is ?

If its not a salt water boat, that should help increase the value.  Well, it does where I live, I know others will disagree with me.

Make sure the boat looks CLEAN.  I looked at some dirty boats in the past....didnt buy them.  I bought the clean ones.

 

 

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26 minutes ago, rreale said:

hello,

 

I did a quick google for 235's for sale, and you are very HIGH.

I also looked on NADA, and i got a much lower book value.

Its and 18 year old boat, would you pay what you belive the adjusted resale value is ?

If its not a salt water boat, that should help increase the value.  Well, it does where I live, I know others will disagree with me.

Make sure the boat looks CLEAN.  I looked at some dirty boats in the past....didnt buy them.  I bought the clean ones.

 

 

that boat is a15-20k boat, 20k being a on a great day.  look at boat trader 235s and 245s of that vintage are selling from 9-20k, most being in the 9-15k range.  For the most part boats don't have historical, collector value either.  As buyer and I was looking at 22-23ft 20 year old boats I cant image I would spend more than 10-15 personally.  I believe drew on this forum had a 99 it was over priced at 20 something and he got something, think he ended up selling for 17

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I think my boat is worth more than anyone is likely to want to pay for it...

brick

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25 minutes ago, Futzin' said:

Nah brick, ours would bring 40K!

Ha!

I will be buried in my 220...

brick

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8 hours ago, brick said:

I think my boat is worth more than anyone is likely to want to pay for it...

brick

+1

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When I was shopping; the guys who had their boats listed to high sat for a long time till they started lower the price. 

You can start at any price. 

 

.

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On 12/1/2017 at 2:52 PM, brick said:

Ha!

I will be buried in my 220...

brick

I'm seeing another 3 years with the 220 and then might modernize a little to a more friendly social swim platform.  That puts it at 20 years old.

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