True boat value?
 

Hello all! I'm back, after a hiatus...

I'd like input from boat owners and prospective buyers/sellers in regards to a boats true value, taking into account hours, condition, aesthetic appeal, performance, and how boat was used.

I have a 2007 Malibu VLX (Wakesetter) that is orange/black/white, with all the bells and whistles, upgraded stereo/equalizer/pa system, additional batteries with onboard charger, perko, jl speakers, alpine amp, 4000 lumen blue light (transom plug light), upgraded surf/wakeboard racks, upgraded prop, Etc.

Mechanically, there is nothing wrong, very good sounding and performing boat. In dame monsoon 340 motor, oil changes every 100 hr, impeller change every 150, cap/rotor/spark plug change every 300 hr, and this schedule was based on boats use (average 6-8 hrs/day...3-6 times/wk. Annual average - 250 to 300 hrs)

Boats use was 40% wake surfing utilizing ballast tanks, 25% Wakeboarding, 35% just motoring around, mostly at trolling speeds under 10 mph. As the boat was used year round here in Arizona, it was washed and detailed every single day it was used, garage kept, and never left on the water. It has been meticulously maintained and very loved.

So with all that being said, I've considered getting into a brand new boat with the newer ballast systems to better my surfing, which means I'm selling this one. It seems most dealers use NADA Boat Guides for their valuation. My boat, according to NADA, has a value range of $38,800 to $44,300 (low $ and average $) and then a suggested list price of $57,000.

I've spoken with several Malibu dealers and wholesale sellers, all of whom tell me my sale price of $34,000 is very appropriate, and on the low end of what they would sell and close on it. But, the old everlasting "1000 hr" fear is ever so present. I do know the type of boat, the way it's used, the way it's taken care of, and the location of use as well as frequency of use all play a large role in whether a boat gets 1000 hrs or 2000 hrs before major engine work.

I've been told my engine has the condition of one with 350-400 hrs. I've also been told my overall boat looks 3-4 years old. I've worked hard to make that the case...BUT, am I just stuck at lowball offers purely and totally based on having 1000 hrs? I'm no pro at selling boats, but I do know that when boats are taken care of properly, they can easily se 1500-2000 hrs before even the thought of engine work or replacement.

Please give me your thoughts on price, hrs, condition, etc. personally, I figured $4k under the lowest value for this excellent condition boat would be a steal for someone lol

Have you seen what other high hour boats are listed at on sites? Nada is pretty much useless apart from to show the bank to get a loan. Honestly, I doubt you'll get away from low ballers. Maybe just see if those dealers would sell it for you and you won't have to deal with tire kickers. Or. You could price the boat higher, then "discount" it 8k for a "future engine replacement".

No clue if it would work.. But people are stupid, so stupid stuff works.

Here is an 06, similar to yours in hours, one owner for 29k that has been sitting online sometime. I would use this as a benchmark
http://www.onlyinboards.com/2007-Mal...nia-52380.aspx

I just passed on an 06, one owner with 150 hours for 31500. A realistic price for yours would be low 30's IMO.

Yes I'm seeing that NADA is assuming it's Spanish meaning haha

wrong time of the year to sell a boat. and its worth what someone will pay for it. I think you're going to have to be a couple thou below 'market value', however you establish that, to move it this time of year

Sounds like you have a great boat in great condition which would lean to the high side of the price range. Unfortunately timing is going to be the issue, this time of year smart buyers are looking to get some great deals because they know its a slow time for sellers, and sellers like you are motivated to sell to get a spray date for you next dream boat over the winter. They will low ball you like crazy and you have to be ready for that.

If I were you, talking with tire kickers on the phone or email, don't negotiate on price until they come and see that boat and take it for a test run, then talk price afterward. If it's worth the price, they will be able to tell and you'll get a fair offer that you can both agree on. From my perspective you have 2 choices, wait for the right buyer who can appreciate the condition and pay the fair price, or figure out how much you are willing to lose by entertaining and making a deal with some of the lower offers.

Dan,

We actually texted about your boat yesterday. The hours are what turned me off, and honestly any offer I make would be insulting. Not that it's not a nice boat, cause it is, but in my mind I always look to resale. I would like to put a few hundred hours on a boat and get back close to what I paid. If I were to buy your boat for 35k, could I sell it easily with 1400 hours for that in a couple years? Doubtful. That is my rationing at least.

Regarding price, I am one who hates negotiating on the phone, but I also want realistic expectations before wasting both parties time. Im not going to drive 6 hours for a boat that they are asking 38k on, and offer 30k on without some inclination that they are willing to accept.

Dan I've had this hours argument with a lot of people on this site. Truth of the matter as u are seeing is hours cost u money. And so does not maintaining and taking good care of ones boat. U say you've taken care of it so that is a benefit. Now let's assume colors are good. Only thing left now is your hours which are high compared to what people can find in other 2007 model ranges. I haven't shopped a lot of lsv's( love that wake though) but truth of the matter is buyers know they can find that boat for around 40k with 400hrs. Yours has many more than that. For me I think your gonna need to reduce your price from the 40k mark by$10- $15/hr over 400. Do the math.

Yeah I get that, and that's how I am as a buyer. I had several people email me/text me on the boat. You may be surprised at what I'm willing to do...text me again and let's discuss further. You may find it works to your benefit...

My buddy just sold his 07 vlx with 700 hrs for 55k.
No way I'd take 30 for that boat. Just my opinion.

Your buddy must have found the dumbest mofo out there or lied.

Please keep the conversation cordial...thanks :)

And I am willing to go $31k, just FYI, due to season and all, so for anyone that knows a buyer. I think that's more than reasonable :)

Thats a good price.

I agree with Ron, If your buddy sold a 07 VLX with 700 hours for $55K he straight up killed someone on that deal. That price isn't even in the right zip code. Those boats are all over for $15-17,000 less than that with a 1 minute OIB search. I didn't think those buyers existed anymore with all the free and easy research available via the inter webs!! He must have been helping the guy up after he fell off the turnip truck!! LOL

boat price
 

Prices for these boats are All over the place, some people Have to sell, most do not, his buddy that sold for 55k probably is a boat salesman, the dealer when taking in a trade is the one that is going to destroy your price point, just sell it for a couple grand more than a dealer would give you.

I don't think I would shy away from one of these high hour boats if you where looking to use it for a year or two. I think the 1000 hour mark scares most people but if the boats clean and had full service history I wouldn't run from it. As far as depreciation it had probably about hit rock bottom so if you can snag a clean one for 27-31k I think your gonna break even on a boat that you have used for a season or two. No doubt time of year plays a huge factor on when you go to sell. I would think peak season is when you wanna list these and expect it to sit for sale all winter unless your willing to get extremely aggressive with pricing. As far as the 55k for 700 hours ...... Can't say I even believe that happened but who knows maybe the internet was down that day. If I was looking for a boat to ride 3-4 times a week with a great hull for under 30k these high hour Malibus would be my choice.

Highest 2007 I can find that sold in the last year on OIB was 42k and it had under 200 hours

Hahaha. My bad. Got them mixed up. He sold his 09 with 101 for 56. Dude gets too many malibus for me to keep track of. He has a 15 now.
Still wouldn't take 30 for op's boat though. But I live in an area with an pretty strong wakeboat market.

Dan,

Like I mentioned, I wouldnt want to offend you. My offer would be in the 22-23k range, especially considering this is the same boat within a short drive of me for 29k that has been reposted on craigslist several times. http://sfbay.craigslist.org/eby/boa/5251047158.html

That's a great deal!!

Yeah, especially for someone who doesnt care about hours on the meter. It probably runs just as good or better than boats with 100-200 hours on them. The only dillemma comes when you try to resale after a few seasons. All of a sudden you have a ten year old boat with 1500 hours, whats the value then?

Boarder85,

I hear, and can somewhat appreciate, what you have to say here, as you have said plenty. However, I can't resist reminding you of the fact that material items lose a bit of value as you (yourself) use these items. While there are people that will sell themselves short to rid themselves of an item in desperation, that is not very common. It sounds to me you're looking for that one in a thousand deals, such as a boat marked down 10-30k under its value, so as to pin your use (value loss by your ownership) on the seller so as to have your cake and eat it too. Don't we all haha. And you may very well find that deal, as the season closes and being on not the best of economic times. But you prefix your explanations with "I don't want to insult...", and I believe I'm not alone in saying it is an insult to lowball AS LOW as you intend to lowball, on the basis of not owning the loss of value during the time YOU own the boat. As they say, 'we're all in the same boat here'...I have no issue with your mindset or intentions...what I disagree with, and am calling you out on, is don't presume to have that expectation of everyone. Moreover, don't preach about used boat pricing as if your theory or opinion is the right one. I say this based on hearing from people on this post, and by seeing many boats posted on many sites...knowing my price for my boat is very appropriate. Understand that just because you saw a boat with less than 200 hrs selling for 31k, doesn't make it the benchmark for future offers, especially when each boat had many differences between them. I'm sorry you had the bad luck or timing on that post, however, that 'deal' is not indicative of the market and shouldn't be shoved in ones post as an example, especially when it appears you have intent to influence others opinions or decisions. Have your opinion, and express it...bit don't monopolize a thread based on the dream deal you missed out on.

I think it's clear the difficulty, as expressed by everyone here, in selling a boat off season, and selling one that has higher hours...but it has also been recognized that I was right in my pricing and quite reasonable. To jab and jab is insulting and that's where I respectfully request you come to an understanding of reality, and fantasy...regardless of which way you lean. Thanks

The reason things get re listed multiple times on craigslist is because of people coming with stupid unrealistic offers, like everyone selling something is doing so because they need to buy top Ramen or get their next fix. That's usually not the case and people need to get off the crack pipe.

It's worth what someone will pay for it. People low ball on Craigslist because 1. There is no incentive not to 2. 1/5 times it works, maybe not that day maybe they call back in a week.. But it does work and a lot of people on Craigslist are selling toys and need money, when rent is due mindsets change

This guy bought his boat on a foreclosure for 12 and sold for 23. That's the deal he wants and needs to make. Just an FYI. He's spouting BS to try to influence ppl into thinking their boat is worth less so he can buy low and sell high. Good for him in making those deals, but I digress.

Hey, I couldn't agree more! I never made you a low offer like half the craigslist BSer's out there. Im trying to sell my truck right now, and I can't believe the amount of BS lowballers out there! Deals are out there, but they arent going to turn up unless you kick up a few rocks. Example - last week I passed on a 06 X1 original owner with 260 hours for 24k. Great deal, they're out there. (I only passed because the X1 is too small for what I want).

I never jabbed, I just was honest and backed it up with comparable sales and listings. In fact, I said "t probably runs just as good or better than boats with 100-200 hours on them. " This is totally true! Your boat is beautiful and well cared for. You just need to find a buyer who isn't looking for a "deal" and doesn't care about resale , and you ARENT going to find them in October during a drought. That's the truth

It's not really BS, the OP asked for the true boat value, and I showed 1 comparable listing and mentioned 1 comparable sale, but alright. I have no interest in wanting the OP not to get top dollar for his boat, I am sharing my experience from the buyer perspective.

Any luck selling your Sanger? I'm surprised you're selling it when you just got it a couple seasons ago. Lowballer flakes can get old on CL.

I'm just looking to go to a 23ft'er. I've had some real money full price offers, but everyone has cash on the phone, you know how that works. It's just not the time of year, especially with the water situation in my area to sell a boat. I pulled it. Like I said, I'm not looking to meet payroll or make a mortgage payment. I did the same thing when I sold my centurion. Pulled the ad when I listed it this time of year to avoid the idiots offering 50% of the asking price or lower, then threw it up in march/April it sold in 3 days full asking price.

If the sanger doesn't sell, won't hurt my feelings any, I'll just have to wait to go to a bigger boat. If it does sell, that's great too.
But I try to avoid craigslist like the plague. Everyone thinks they see an ad and will get the crank head bankruptcy deal.


I could throw my brand new loaded laramie cummins with 6k miles up there for any reason or another, that I have the title in hand for (maybe I just want a new truck every year for example) and people will throw out offers like 30k it's ridiculous.

Haha, true that! I have my Ram up and had it "sold" twice. Both times when the buyer flaked, no call no show. I did the same thing with my boat. I had it up in the fall last year, with not much interest. I put it up in the spring and it went full price no hassle.

Every once in a while great deals pop up on CL, but there is a slim to zero chance someone asking 30k will accept 20k for something for sale. 28k maybe. Which is why if we're too far apart on price I don't even bother wasting their time with showing or lowballing.