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  NADA outboard values?

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Author Topic:   NADA outboard values?
MarkCz posted 02-17-2005 11:36 AM ET (US)   Profile for MarkCz   Send Email to MarkCz  
Is it just me or do the NADA value numbers for outboard motors look way too low. I went to see what my almost new condition 9.9 hp long shaft 1986 Johnson would go for and they had it listed for $150.00 You have to be kidding with a new one going for well over a grand you would think the value of a good used outboard would be much higher.
The Judge posted 02-17-2005 11:58 AM ET (US)     Profile for The Judge  Send Email to The Judge     
I'll give you $200:)

Values on them are roughly between $500-800 depending on how clean it really is, electric start, etc.

Buckda posted 02-17-2005 12:21 PM ET (US)     Profile for Buckda  Send Email to Buckda     
NADA seems to miss the mark often in the boating world. I'd check with your local mechanic who sells used motors and see what similar motors are selling for. My guess is that the Judge is right - $500 seems to be the bottom-out value on a running motor, regardless of HP. Keep in mind too that your motor is 15 years old - the official life expectancy on an outboard is 5 to 7 years.

All of us in the upper Midwest and elsewhere know this is a load of crap, but it's what the industry says. Don't anybody tell my 1986 150 HP Merc that though. She thinks she's only just begun duty on my Outrage, and I don't want to take away her determination to keep running! :)

brisboats posted 02-17-2005 06:01 PM ET (US)     Profile for brisboats  Send Email to brisboats     
If you can get a good used running 9.9hp anywhere for $500 you are doing good. Yep, NADA misses the mark on used motors, trailers and even whalers. For example an 18' outrage hull 1989 is worth something like $3000 and change according to NADA maybe even less (looking at an old book).

Brian

rtk posted 02-17-2005 06:36 PM ET (US)     Profile for rtk  Send Email to rtk     
When I first purchased my boat the insurance company had no problem insuring it at a value that was equal to the purchase price.

When I repowered the following year, I called to update my insurance. Based on "book value", they were actually going to lower the insured value by $5000. This is an agreed value policy too, that I pay extra for.

Huh? Let me see, I just replaced my seven year old motor with a brand new one, and now my boat is worth $5000 less.
Silence on the other end of the line. Got them to increase the coverage but took a bit of effort. I fully understood that the repower would not increase the value of the overall package dollar for dollar, but a decrease seemed to defy logic. My purchase price prior to the repower was in line with the local market for that model boat.

Some of the price guides certainly do not seem to accurately reflect market value. The only real way to estimate the value of anything subject to market forces is recent sales of similar items in your area.

Rich

jimmy c posted 02-17-2005 09:52 PM ET (US)     Profile for jimmy c  Send Email to jimmy c     
NADA values missthe mark not only on outboards but boats as well.
NADA valves are based on DEALER REPORTED SALES and are up dated only three times a year...
They do say in the fine print that items in exceptional condition could be worth considerably more....
You figure it out....
In my 30 some years of fooling with boats and having asked many many dealers if they report thier sales to NADA I have never ever found one that did....
Leads me to wonder where they get thier info from to justify the $115 a year subscription fee.
Also leeds me to wonder if this value book is printed with dealers in mind so they can get trades cheep...go to www.yachtworld.com and see what dealers are asking for classic and post classic whalers.
MarkCz posted 02-18-2005 09:39 AM ET (US)     Profile for MarkCz  Send Email to MarkCz     
Artificially keeping the values low so that they can lowball you on your trade in the first thing I thought of.
highspeed_jd posted 02-18-2005 10:16 AM ET (US)     Profile for highspeed_jd  Send Email to highspeed_jd     
I noticed that when I was looking to buy my boat. All the banks around here used that as their reference of pricing and they were very VERY
highspeed_jd posted 02-18-2005 10:16 AM ET (US)     Profile for highspeed_jd  Send Email to highspeed_jd     
low :-)
LHG posted 02-23-2005 06:18 PM ET (US)     Profile for LHG    
As someone in the insurance industry, I can tell you NADA, BUC etc, like JD Powers, ARE NOT CONSUMER ORIENTED PRODUCTS, even though they profess to be, a huge hoax perpetrated on the public so those in the industry can make money as dealers and middlemen. They are marketing materials published for the sole use of the industries they serve, the NEW (yes NEW) and USED marketplace and insurance companies. Artificial, forced, devaluation is their actual business, both for for promoting new sales through trade-ins (gee, that transimission repair is more than the car is worth, so I'll buy a new one), and so dealerships, auctioneers, etc, can take in the old product and re-sell it at a profit, and so insurance companies don't have a huge legal hassle on their hands with every claim settlement (here is what you get, and here is what all three valuations companies say your car is worth). Like a secret society, these are ironclad codes of operation that no one in the industry will dare break, or the whole system would fall apart.

This very carefully orchestrated, and co-ordinated, system works most of the time, since the consumer's hassle of fighting it is just to much. This is exactly as it is planned to do - it's the "tough to fight City Hall" syndrome. Occasionally, as in the case of Classic Whalers, it falls down, but only if you are an informed seller, and willing to do it on your own, at the expense of your extra time.

As an example, a few years ago I had to cancel my insurance company on my 18 Outrage, a boat which some of you here know, or have seen pictured. Using NADA as their professed guide, they insisted on insuring each Merc 115 for $500, and the boat for $5000., saying $6000 was all the rig is worth.
I got rid of them. I can think of about 1000 Boston Whalerships in this country who would love to take my boat in on trade for a Nantucket, at this $6000 valuation. And when I walked out the door, I'd have my wallet picked clean and a lot less boat to boot!

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