How To Use the NADA Guide for Boats
The recreational boating business is worth more than $100 billion. Every year, around 12 million boats are registered. With such a large business, it’s no surprise that many people seek up the NADA for Boats to determine used boat values when they want to sell their boat or trade it in at a local dealer. Many customers can determine a retail value for their boat, but they want to know what a boat trade-in value is if they want to sell it to a local dealer. The NADA boats value is the industry’s gold standard. NADA boats value is used by dealers, banks, and insurance providers. Consumers must appreciate not just the boat itself, but also the motor and/or trailer. In this article, we will show you Step-by-Step How to Use NADA for boats, How to determine the NADA boats value of a used boat, and Find Value of Boats (by using different methods).
Bennington Luxury Pontoon Boats, Cruisers, Stern Drives, Outboards, Bowriders, Center Console Boats, Wake & Ski Boats, PWC (Personal Watercraft), Bay Boats, Freshwater, and more types of boats are available. Tracker Marine, Regal Marine, Mercury Marine, Yamaha, Formula, Malibu, Baja, Lund, Bayliner, Centurion, Ranger Boats, Sea Ray, Chaparral Boats, Boston Whaler, Grady-White, Pursuit, MasterCraft, Wellcraft, Glastron, and many others are among the leading boat manufacturers.
It’s not easy to figure out how much a boat is worth and that’s why we create this article. Our article about How to determine the NADA RV trade in value using the NADA for RV is on the first page of any search helping our readers to determine the RV value using free and accurate tools. So, our readers ask about How to Use NADA for boats and to determine the NADA boats value of a used boat.
Although we have already explained in other opportunities that the NADA boats value is approximate and depends on other factors, in this article we will tell you how to determine the NADA boats value, step by step using the NADA Guide for Boats and how to adjust the final value of your used boat. The ultimate price is usually determined by the buyer’s preference for the boat vs the dealer’s ability to negotiate.
Is There A Kelley Blue Book For Boats? – NADA Marine Appraisal Guide
So, in response to the inquiry, “Is there a Kelley Blue Book for boats?” It is a Kelley Blue Book for personal watercraft. The right tool is the NADA Guide for Boats.
There are a variety of choices for pricing a boat, and this article will show you how to find value of boats by using several approaches, as well as how to utilize the NADA Guide for Boats as a starting point for used boat pricing.
Firstly, let me clarify this. Since 1926, Kelley Blue Book has provided automobile values, but KKB does not provide boat values. So, when looking for KBB for boats, this “Kelley Blue Book for Boats” that’s incorrect, and the Kelly Blue Book for boats is the NADA Marine Appraisal Guide (known as the NADA Guide for Boats).
The NADA Marine Appraisal Guide (popularly called the NADA Guide for Boats) is utilized by banks, financing businesses, insurance organizations, and even government agencies to price everything from motors to trailers. Kelley Blue Book for boats is an inaccurate term as KBB only prices personal watercraft, not boats. Therefore, only the NADA guide for boats includes all the information you will need to determine the used boat value.
Secondly, the NADA for Boats is a good starting point because of its level of precision.
Finally, to further adjust the market value that you will find in the NADA Guidelines for Boats to determine the NADA boats value, we are going to give you some rates that will allow you to calculate, more accurately, the final value.
I encourage you to read, and re-read if necessary, this article prepared by our expert teams to understand how to establish the correct value of a boat and determine the NADA boats value.
How To Use the NADA for Boats – Determine the NADA Boats Value
Here is How to Use the Free NADA Boats Value tool to determine the value of your boat and how much a dealer would be willing to pay for it. This will also give you an indication of how much it may sell for if you try to sell it yourself.
When it comes to determining the worth of your boat, the NADA Boats Guide is one of the greatest resources.
Many of you may think that determining the worth of your boat is straightforward, but it is reasonable that many individuals do not know how to utilize the NADA Boats Guide website to do so. There are many choices to consider, so we’ll take you through the process step by step to establish the boat’s value.
What Guide Do I Use To Find My Boats Price?
When it comes to pricing any kind of boat, the NADA Guidelines for Boats is the blue book that both buyers and sellers consult to calculate the NADA boats value. In fact, most banks mention it when contemplating a loan using the boat as collateral or when a customer is considering purchasing a boat.
The NadaGuides.com website is a good place to start when determining a boat’s selling price (or purchasing price) since it will show you the boat’s low and high worth.
Of course, you should be aware that the NADA Guidelines for Boats may be unable to determine the real state of the boat, thus damage to it may reduce its worth when bidding begins, but you may not be able to obtain that information there. That’s why we will also help you to determine the boat’s value if the boat is damaged.
Quickly Find Accurate NADA Boat Values Online
The NADA Guides is one of the most well-known names in the automotive and marine industries. Every year, they collect resale data on hundreds of manufacturers and thousands of boat sales transactions to update properly the NADA for Boats and Find Value of Boats.
Whether you’re trying to buy a sleek powerboat, sell your dependable old fishing boat, or trade one yacht for another, you’ll need an accurate boat valuation to make sure you receive the best deal possible.
To begin determining the worth of boats, outboard motors, or trailers, simply click the link at the bottom of the page. You’ll be guided through the process of selecting a model, selecting features, and determining the most accurate low and high resale values.
Let’s see first the step-by-step on How to access and use for Free NADA Boat Value Guide. Then, we will accurately the NADA guide for boat value based on other factors that are not precisely considered when using the NADA guide for boats. These other factors determine the value of any boat. For example:
How old is the boat? Boats like cars, lose value with time. If you don’t keep up with new technology updates and typical wear-and-tear from use, your old model will quickly lose its residual value.
Mechanical and physical condition: The boat’s mechanical and physical condition is equally as significant as its age. Some older boats are still in excellent condition and are worth more than newer models that have not been properly maintained, so it’s important to look at both aspects before selling or buying.
Step-by-Step NADA for Boats – Free NADA Boats Value Tool
Let’s start with the step-by-step on How to access and use for Free NADA Boats Value Tool and Find Value of Boats.
Step 1 – How to Use NADA Guide for Boats to Determine the NADA Boats Value of a Used Boat
Let’s start with How to Use NADA for Boats to Determine the NADA Boats Value of a Used Boat. Go to the NADA Official Website for Boats and Click on the type of boat you are interested in pricing.
This NADA for Boats Guide website is a good place to start when looking for boat values. A search of the NADA Guides produces the first page with the boat’s basic specifications.
From here, you may either browse the different categories (powerboats, sailboats, personal watercraft, outboard motors, and boat trailers) or click the “Start Here” button to search for a certain model boat.
This is the way to go if you know the make and model of the boat you want to search up. With just one click, you’ll be taken to a list of manufacturers whose products are covered by the NADA for boats recommendations.
Step 2 – Start to Complete the Boat Specification (Make, Year Model, etc.)
In this step, we go to the Research of the Power Boats from the most popular manufacturers (Top 50) by Selecting a Make.
We will use a 2016 Tracker Marine Sun Tracker Series FISHIN BARGE 22 DLX as a sample boat from the Sun Tracker Boats Series for fishing.
Another option is select the boat from the complete list of 1,890 manufacturers. If the make you’re looking for isn’t listed in the first list of major boat manufacturers, a drop-down list (lower right) lets you select from over 1,800 distinct manufacturers.
We choose as the sample boat in our example a 2016 Tracker Marine Model. As we are looking to determine the price of my used boat, 2016 Tracker Marine, I go to the menu to scroll down the list of manufacturers and click on Tracker Marine.
Step 3 – Select Model Year and Other Details from The Boat Spec
In the next step, we will select the year of interest (model year). By default, the last year of manufacture will appear.
Select a 2016 Tracker Marine Model
A long table will be displayed with all the models, in this case of Tracker Marine powerboats, and the boat specifications, such as length, type, hull construction, number of engines, the horsepower (HP), the weight in pounds (lbs), beam, and fuel type of the boat are all included along with the model name. To determine and find the value of boats all these details are absolutely needed, that’s why the NADA for boats is extremely precise in the calculation.
Then, scroll down to select the appropriate Tracker Marine model and model specification.
In our example, we are looking for the value of a Tracker Marine 2016 Sun Tracker Series FISHIN BARGE 22 DLX(*) which includes the value of the Mercury Marine outboard motor.
We click on the name of the boat and it takes us to another screen where we just need to fill in the zip code. You’ll be prompted to fill in your zip code when you’ve found the model you’re looking for and clicked on it.
Keep in mind that the zip code is for the state in which you are interested in finding the boat to buy or sell.
So, if you are looking for prices to buy in Florida, but you are from Ohio, use a Florida zip code, not your Ohio zip code. Properties are valued according to their state.
By clicking on the model of interest we will get different prices depending on the particular specification and packages that particular boat has.
Step 4 – Add all the Boat Features to Estimate the NADA Boats Value
In this step, you can choose to add any extra features that your boat has. If the model was kept from the factory as purchased as in my case, where I have not added more than a fish finder and I have not changed the engine that came with the boat, it is possible to go to the “get base value”.
Otherwise, you must scroll through the drop-down menu below and click on the “+” symbols to display each menu. There you click on the options that should be considered in the boat price. Even if your boat model is not basic, you will have to drop down this menu and add features in this step.
For example, if I wanted to add my Fish Finder to the price of the boat in this step, I would mark it in the drop-down menu as shown in the figure below.
In the next step, and completely optional to determine the used boat price, the outboard motor (Mercury Marine) and trailer can be added. Options for outboard motor selection are included.
In our example, my Tracker Marine is with the original Mercury Marine outboard motor. But if I had changed it, this is the point where I change the engine option.
Also, I can include the boat trailer with which I usually mobilize my Tracker Marine so that when I sell my used boat, I can give you complete pricing of the Sun Tracker Fishin’ used boat, the Mercury Marine outboard motor, and the Sun Tracker’s trailer.
In the case of the boat trailer, the trailer pricing for the boat will be quoted according to the model, number and type of axles, and length of the trailer.
Similar to the previous step, any extra trailer features can be included via the drop-down menu after completing the basic trailer specification (year, axles, and length).
Then click submit to get the value of your used boat according to the NADA boats value.
Step 5 – Get Your NADA Boat Value
Finally, after indicating brand, year, model and completing the specification including accessories, outboard engine, and boat trailer, that best resembles your boat or the boat you are looking to buy, you get the value of your boat: 2016 Tracker Marine Sun Tracker Series FISHIN BARGE 22 DLX Values, including the Mercury Marine outboard motor, the Fish Finder and the Boat Trailer.
The NADA for boats takes into consideration the value of a wide range of optional equipment.
Finally, you’ll be asked to select the motor(s) size and if the boat includes a trailer. Then hit “submit,” and the following screen will provide you the data you need: the NADA Boat value, broken down into suggested list price, low retail value, and average retail value.
Remember that both sellers and buyers have access to the same information and will undoubtedly use it to evaluate the market before making any bids. There might be compelling reasons to price your boat, sailboat, or yacht outside the range, either high or low, it should be included in the specification to justify the pricing.
So far, we have a first approximation of the value of our used boat of interest by using the NADA for Boats Value.
Although NADA guides for boats are widely used, certain features may not be included in the NADA Boats Value and during the boat assessment.
Therefore, at this second stage, a little common sense is required from both the buyer and seller to understand the correct value of the used boat, as other factors influence the price.
We will explain below how to determine the value of the used boat after having obtained the approximate value with the NADA for boats.
Estimate What It Will Cost To Get The Boat To “Fair” Condition
One of the issues that NADA for Boats cannot consider is when the boat requires major repairs and the regular market price is sought to be determined. Therefore, what we will do in this second step, and especially for damaged boats or boats with engines that require major maintenance, is to determine, in a more manual way, what the value of the boat is by adjusting the value obtained from NADA for Boats.
NADA for Boats gave us the NADA boat value, which corresponds to a fair state. We will now deduct any significant repair and/or maintenance work that the boat requires.
Find Value of Boats – How To Adjust The NADA Boat Value Obtained
In the following paragraphs, we will tell you in detail how to adjust the NADA boat value obtained previously.
Compute the Cost of Restoring the Boat To “Fair” Condition. When we check a boat, we make a list of any jobs or repairs that need to be completed. So, make a note of all the boat systems that require attention, as well as any parts that need to be fixed or replaced.
Hire a professional or bring a buddy who is familiar with boat systems and mechanics if you don’t have any. Then, for each job, make a list of the material and labor expenditures.
The cost of routine maintenance should not be added to the list, it should only be included if maintenance has not been performed.
Then, for a total, add all of the repair charges to the list price (which is usually depressingly high). We frequently multiply repair prices by 1.25 since we’ve discovered that we’re generally optimistic regarding pricing and timeliness.
It’s also a good idea to inquire about the owner’s plans for the boat. Owners may choose to exclude electronics or outboard motors from the sale, which can cost a significant amount of money.
Adjust the Boat Price After Using NADA Guides for Boats
The real price of the boat is calculated by adding the list price by NADA for boats calculations and the cost of repairs.
When you compare this to the equivalent anticipated price (NADA Boats Value), you’ll be able to tell if the boat is overpriced, underpriced, or just right!
It’s a good moment to start thinking about transportation, taxing, and financing charges if the pricing is correct.
Will the boat have to be shipped?
Is a boat trailer included in the price?
Will you be required to pay taxes or duties?
Will you have to borrow money to buy your boat? If that’s the case, have you considered boat loans?
Considering buying a boat, yacht, or sailboat in another country?
You should learn about sailboat arbitrage, which is the art of buying and selling yachts in the proper markets. By buying and selling their boat in the right geographies, some people have even managed to sail around the world for free.
Finally, determining the value of a secondhand boat is more of an art than a science, and with common sense and using your judgment, it should be easy to determine a boat’s value. The calculations and suggestions provided above are not intended to replace expert guidance.
NADA Boats Value Problems
It may be a few drawbacks when using the NADA for Boats to determine the NADA Boats Value. While internet calculators/online calculators like the NADA boat guide can offer you a boat book value, they have a few drawbacks:
- It’s possible that your boat isn’t on the NADA list
The National Automobile Dealers Association (NADA) only contains entries for the most common boat types, brands, and models, which causes the NADA boat pricing calculator to fail (although very rarely, I would say). If you’re looking for a certain boat, you might be able to utilize this to seek costs. Anything else, on the other hand, is unlikely to be included.
- The NADA boat value may not be accurate
The mentioned boat prices are averages that do not take into account individual flaws (or upgrades) unique to each boat. Even if you locate a used boat price in NADA, it doesn’t imply it’s an appropriate price for your specific boat.
- Other considerations as to why the value of NADA for Boats is not accurate: Pricing based on emotions or/and Buying based on emotions – Emotional pricing/buying
Owners may invest so much money and time in a boat that they place a greater value on it than the market. It takes effort and a few bids to bring an impassioned seller down to a more realistic pricing range. The seller may set an unrealistic price and refuse to compromise since they do not want to sell. We’ve had enough of this and are moving on to the next boat.
Emotional buying is a corollary to emotional pricing. We might fall in love with a boat for a variety of reasons; the interior arrangement, lines, hull color, and even the name can all play a role.
We can’t help but allow our emotions to influence our decisions, but we’ve discovered that they should be saved for the ultimate choice. We try to quantify everything in terms of statistics and enter it into an excel sheet to reduce our feelings.
How to Estimate a Boat’s Value
Boat valuation guides such as NADA for Boats and Kelley Blue Book for personal watercraft can provide important information. However, it is critical to conduct your own research.
Other Methods to Find Value of Boats
There are several methods to determine and find value of boats:
- Use the NADA for Boats Guide as we explained previously in this article to estimate the secondhand boat value.
- Use the NADA for Boats Guide to estimate the secondhand boat value, plus, adjust the final boat value considering the fair status of the boat (including all the repairs, materials, and maintenance that are extremely needed). Most Recommended Simple Way To Find Value Of Boats.
- Make use of internet calculators. There are various websites where you may search for used boat values if you have a common boat make and model. These are especially handy if you’re looking for popular and new models, but they’re less useful for rare and antique boats. In general, all of the websites that contain these online boat value calculators are dealer and broker websites, so it is to be expected that the value of the boat will not be the most convenient in any buying and selling transaction. Third parties, such as NADA, are not involved in this and do not receive any fees for these boat trades, so the NADA Guide for Boats estimation of the boat’s value is more recommendable than these online boat value calculators.
- Engage the services of an expert. Hire a professional. Pay a marine surveyor, marine mechanics or boat broker to determine the value of your boat.
- Create your own boat pricing calculation. Combine all the methods mentioned above and estimate your own boat’s value.
Hire A Professional: Marine Surveyors, Boat Brokers, Marine Mechanics
While there is no alternative for conducting your own research, it is occasionally beneficial to seek expert advice. Here are several service providers who can assist you in determining the worth of a used boat.
What Does A Marine Surveyor Do?
A maritime surveyor will physically check the boat and advise you on its value. This is usually done on the dock or at a boatyard and does not entail any sea trials.
How Much Should A Marine Survey Cost?
The cost of a boat survey varies based on the type of survey undertaken. A purchasing survey might cost up to $18 per foot of boat length, while a less extensive insurance condition and valuation survey could cost up to $16 per foot.
What Is Involved in A Marine Survey?
Condition of purchase and valuation ($18+ per foot). This entails a thorough 3-6-hour examination. The surveyor will request to see the boat both in and out of the water. For purchase surveys, the final report will include both a “replacement value” and a “market value,” as well as any defects.
Condition of insurance and value ($16+ per foot): This survey is less costly and less comprehensive. It’s geared for boat owners wishing to insure their vessels. Most insurance companies require owners to provide a current vessel survey. While this survey is not as extensive as the last one, it will nonetheless offer you a projected boat market value.
Do I Really Need to Hire A Professional Marine Surveyor?
It all boils down to your boating experience, the boat’s complexity, and your financial risk tolerance.
If you’re new to boating, you’ll want someone with experience to assist you to inspect the vessel for safety and determine a reasonable price.
A visual assessment will likely disclose any possible faults if you’re buying anything small and basic like a kayak or dinghy.
On bigger yachts, however, boat systems may be quite complicated, and a professional marine surveyor’s judgment can be invaluable.
Keep in mind that, while a boat survey may appear to be costly, it may end up saving you money over the length of the sale. A surveyor will be able to discover flaws with the boat that you might miss, allowing you to bargain for a reduced purchasing price.
In general, if you’re spending more than $5,000 on a boat or want to finance it with a boat loan, you should have it properly assessed.
How Do I Find A Good Boat Surveyor?
Request recommendations for a maritime surveyor in your area from other boaters.
Inquire about the types of boats that possible surveyors specialize in during the interview. Others may specialize in pontoon boats, houseboats, or wooden hulls, while others will be more comfortable with the sail.
Otherwise, surveyors who are affiliated with the National Association of Marine Surveyors (NAMS) or the Society of Accredited Marine Surveyors (SAMS) are also a good option to find a surveyor in your area on these websites.
In the boating business, a boat broker or boat dealer is the equivalent of a realtor. Not only do brokers have an experienced eye and a sense of the local market, but they also have access to a unique data collection that may be quite useful in assessing used boat prices.
How Much Is A Boat Broker?
The seller pays a commission to the broker (usually in the neighborhood of 10 percent of the selling price).
Because engines are so expensive to replace, the condition of a boat’s engine has a significant influence on its worth. If the engine fails, a boat might be worth close to nothing in some cases.
While engine hours might be a good predictor, even a brand new engine may have problems. As a result, before acquiring a boat, some potential purchasers may engage a marine technician to evaluate the outboard motor or engine.
If you’re concerned about the state of a boat’s engine, you may submit a sample of the gasoline to a fuel lab, which can provide you with a report with useful information on the engine’s condition.
Conclusion about NADA for Boats and the NADA Boats Value
Using the NADA for Boats Guide to estimate the secondhand boat value, followed by adjusting the boat’s value (including all the repairs, materials, and maintenance that are extremely needed) is the Most Recommended and Simple Way To Find Value Of Boats.
We hope this article will guide you when determining the worth of a boat.