NADA Marine Appraisal Guides

D

dandawes

New member
Many of you are no doubt familiar with the NADA Marine Appraisal Guides that brokers, banks and insurance companies use to evaluate the value of used boats. You can go onto www.nadaguides.com and do a custom appraisal on your own C-Dory. It would be an adventure for many I'm sure.

I am just now getting familiar with the market in C-Dorys in the course of looking for a 22-Cruiser myself. but it does strike me that there is a substantial difference from what C-Dory owners list their boats for on C-Brats, at least, and what they appraise for on NADA. Where does NADA get its data and where can I buy a C-Dory for a price approaching the NADA appraisal?

It is hard to believe that NADA is just a fraud, but maybe looking to buy a C-Dory at the actual market price on C-Brats is like looking for a virgin in a brothel. What do you think?
 
Probably the easiest way to answer your question is to refer you to the "search engine" on this site. If you click on "search" in the header above and type in "NADA" and click on it, you will find two pages of numerous discussions regarding your question. Cursor down to the thread entitled "How To Price A 22' Cruiser" and read the two pages of information supplied there. That should fairly well summarize an answer for you. For additional similar responses, you can read on through some of the other threads listed there on the subject.

Welcome to C-Brats and I hope the above referral is of help to you.
 
This question comes up a few times a year and for the same reasons as you have stated. Bottom line, the prices you see here are typically market value, with a few exceptions now and then. C-Dory's are relatively few in number, hold their value well and many owners elect not to finance their purchase which keeps the NADA guys from seeing actual real-world selling prices.

Keep in mind that high resale is another thing that attracted many to the line in the first place. Sure, you can get a smokin' deal on a mass produced Brand X, but when you try to sell it you probably won't have a buyer driving across the country within a month of putting it on the market.

Nick
"Valkyrie"
 
I didn't see the Cape Cruisers in there but I did see a 22cruiser instead with same equipment It came up with 26k That would be a 30-40% discount .I don't think you could purchase a 06 22 cruiser for that. Maybe a 2000-2001? Interesting discussion . YOU can go into Search engine and get the the recent sales of the C-Dory lineup. Also check Boat trader.com or Craigs list,E-Bay and your Local Marina's.

Good Luck in your Quest YOU may find a less expensive brand but not with the high resale of the C-Dory LIneup.
 
Prior to selling C-Dory Naknek I spent quite a bit of time and effort trying to come up with a realistic asking price for the boat. Sure, I consulted NADA and every other source I could find, and was amazed at the low numbers coming back. I think that, for reasons previous stated, the "guides" just don't capture some of the information realistically.

It's somewhat like real estate. You can get a "market appraisal" from a realtor for free that'll give you some useful information. Of course recognize there may be the inclination to give you a puffed-up estimate in order to secure a listing. On the otherhand you can spend a few hundred dollars and get a "certified" appraisal that bankers and mortgage lenders will recognize. Each has its place.

In my case (with Naknek) I developed a detailed listing of CD22's and virtually all the add-on items folks put on their boats at the time I was selling. I then tracked the listings on C-Brat's for a few months to ascertain an asking price. The only real glitch with that idea was that the data did not capture what the various boat's sold-for, so my work was largely open ended (but it was better than nothing).

In my opinion the basics are the hull, engine (with hours/condition), and trailer. Sure, large expensive options (Wallas, radar, trim tabs, chart plotter, auto pilot, windlass, etc) certainly add value, but at the same time these are all items that tend to get old, wear out, or become outdated, so they may not hold the value we'd like at resale. Example: You may have spent $1500 for a jam-up stereo system on your boat, but realistically, several years later that dynamite system (if it still works) may get you $100-$150 more at resale, and that's through a private sale. If you deal through a dealership you have to discount the accessories even more because the dealer must be able to get into and out of the deal profitably or go out of business. (Obviously other's are much better explaining that than I am.)

...just some thoughts.

Best,
Casey
 
The NADA guidelines are so far off for C-Dory resale values that I concluded a long time back that they apparently weren't do ANY market research, let alone not accounting for what real cash deals close for because they weren't being financed, and therefore accounted for, as Nick of Valkyrie suggests.

I think they start out with the new boat values and simply discount them a given percentage each year, ignoring any real sales reports.

Why would they do this? Because it costs time and therefore money to do the research, especially considering the hundreds of boat manufactures and thousands of models to deal with.

This is not to disagree with what Nick has suggested, but simply how I saw it when looking at the tables.

The truth may lie somewhere in between, or there may be some other valid explanation, but the fact remains that there numbers are all wet, either way!

Stay dry, and Merry Christmas!

Joe. :teeth :thup
 
I bought C-Quest over the summer and I had been looking for about a year. I contacted the BoatUS finance dept. and asked for a value for 2 boats. The Striper I was selling and a typical late model C-Dory 22 cruiser. The Striper fair market used value came back pretty much in line with the NADA guide. The C-Dory however was completely different. Their answer was a 2 page email explaining how difficult it is to give a market value and that the market for C-Dory's is completely different in that it is a nich boat with a much greater value than NADA guides. Also, that each boat is very individualized. I was pretty impressed that their finance dept. went into such detail to explain why you cannot go by NADA guides. I financed our boat with 20% down through B of A without a question on the asking price. I purchased through a dealer and feel I got a good "market" price.
 
Don and Brenda":2xmy40qo said:
I bought C-Quest over the summer and I had been looking for about a year. I contacted the BoatUS finance dept. and asked for a value for 2 boats. The Striper I was selling and a typical late model C-Dory 22 cruiser. The Striper fair market used value came back pretty much in line with the NADA guide. The C-Dory however was completely different. Their answer was a 2 page email explaining how difficult it is to give a market value and that the market for C-Dory's is completely different in that it is a nich boat with a much greater value than NADA guides. Also, that each boat is very individualized. I was pretty impressed that their finance dept. went into such detail to explain why you cannot go by NADA guides. I financed our boat with 20% down through B of A without a question on the asking price. I purchased through a dealer and feel I got a good "market" price.
Click to expand...

Don and Brenda-

Your post points out a problem sometimes incurred with financing a C-Dory:

Folks line up a boat for purchase, and when they go to a financing institution that is unfamiliar with this particular brand of boat, and that relies on NADA published values, the lender balks because of the discrepancy between the real price and the published value!

That is why threads like tht can be of particular value in that regard.


Joe. :teeth :thup
 
Already lots of good information on this post. Basically most C Dory used boats are sold via this list, as private sales, which do not reflect either in NADA or BUC assesments. The only time I have found NADA to be of value was when discussing the value of my 25 with the Orange Co tax assessor.

Also remember that NADA is only the hull; no engine, or accessories in many boats (including C Dory).

The price is what it is--occasionally there is a bargin--such as the boat which sold yesterday in Venice FL. If you see one of these, jump on it.
 
While trying to put insurance on my 26' ProAngler CD I had an awful time coming up with a value on it. I purchased it as a reposed boat on Ebay in Fla. for an unrealistic price. My ins. agent wanted a book value but on a boat that only had 21 made there is no book value.
We agreed on a value that we came up with mutually and mostly from anal extraction. He was happy, I was happy.
Boat is insured and waiting for all the ice to melt so we can use it again.
 
Value guides are just that- guides. On some boats, the variables are so great that the guide has no way of dealing with it.

I imagine NADA starts with the base boat price when new- problem with the 22 C-Dory's especially is that most are well equipped with numerous factory options adding up to $20,000 worth of equipment- or more!

On boats more than a few years old, you may need a surveyor's report to get insurance equal to the actual value of the boat.
 
One company I approached a few years ago listed the brand new purchase price of the Tomcat with AL trailer and Suzuki 150's at $80K. I asked them WHERE I could find that deal!

Turns out they only had reference to the C-25 in their database. Rather than doing any research they replied with a loan value of $80K. You need to shop around to find the right outfit familiar with C-Dory or willing to research it.

NADA has zero value for C-Dory boats unfortunately.
 
One of the guides we use is ABOS, which has the ability to show the options added at the time the boat was new, and then depreciate them on the same scale as the boat itself. It also allows for adjusting the value because of condition.

It's a better guide than NADA, and is available to dealers who subscribe.
 
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