Pricing of Used C-Dorys

D

DaveS

New member
On another thread that is now "locked" up and I am now unable to reply to there was a question from a reader in which he asked why in his estimation a C-Dory was priced so high.

After reading the equipment on said vessel, I would estimate its' cost new to have been approx. 60,000.

When I sold my 16' C-Dory it was suggested to me by an individual that the best way to figure a cost for a C-Dory is to use the following guidelines.

Take the initial cost.....$60,000, subtract 10% for the 1st year, and then 5% for each additional year. (assuming of course the vessel, engines and accessories are in well taken care of condition).

I applied this formula to the vessel in question and figured that it was worth $46,298.25. This amount is $3,398.25 greater than the asking price was for that vessel.

All this being said and realizing that I have never seen the boat in question, I'm guessing that the price paid was a fair and perhaps one heck of a good price for the fortunate purchaser.
 
Dave, I think your formula is pretty right on. I have looked at the pricing very simular to that, although not quite as detailed. I have also been watching to see how long a CD is on the for "sale list", and figure the shorter time they are up for sale, the closer they are to a fairly priced boat. If a boat sits on the list for several weeks, then there must be a pricing issue. Boats that are rightly priced are gone in hours to a day or two. Newer boats are on slightly longer, but their prices are relatively higher, so a bit more to capitalize. The best value is the boat that meets the needs of the buyer, and gets the price that makes the seller happy.
I love my C-Dory, and it is not for sale.
Harvey
SleepyC :moon
 
hardee":2fmtuh53 said:
The best value is the boat that meets the needs of the buyer, and gets the price that makes the seller happy.
Harvey
SleepyC :moon
Click to expand...

and what you've said above Harvey is without a doubt the "bottom line!"
 
DaveS;
Thanks so much for your insight. Your formula gives me a starting point and enables me to compare new versus used C-Dorys. The key to your formula is the initial value of the boat, which not many are willing to help with.
Cheers!
wapiti
 
wapiti":1n5s0jp1 said:
DaveS; The key to your formula is the initial value of the boat, which not many are willing to help with.
wapiti
Click to expand...

I can't guarantee it, but if I'm not mistaken, I had no problem at all informing the purchaser of my 16' Cruiser how I came up with the price of my boat. (My experience with all of the C-Brats that I have met is that no one is out to take advantage of anyone. If anything, when the sale takes place there are usually a number of unexpected "freebees" that end up in the hands of the new owner. (I know for a fact a C-Brat gave the seller more money than was requested because he felt the seller was asking too little!)
 
There are some other factors which weigh on the older boats--and those are if the boat has been repowered--the cost of the new engine has to be factored in. If the boat has extra-ordinary electronics, or outstanding customization this also adds to the price of the boat. Also single axel vs two axel trailer etc.

The NADA or BUC of these boats is way off--mostly because the former is formula driven, and the latter by reported dealer sales--it is more frequent that a used C Dory is sold by owner than almost any other brand of boat.

Finally NADA does not include the cost of the outboard or the trailer, and these have to be factored in. I cannot address the financing issue, but I suspect if you can document the selling price of a number of the boats (from this web site) it would be in your favor with the bank.
 
Boat/US had little trouble coming up with a price for a TC-24. The price
they quoted matched the asking price and the price they generally seem
to sell for - more or less. The particular boat I was quoted on did not
have may options. No trailer, no canvas and minimal electronics. Presumably
their quote would have been higher.

However, I wouldn't expect to be able to get a loan from my local
bank on a C-Dory at full value - 20% down.

Mike
 
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