What is my boat worth? (co-owner buying out)

(stanfield) · (stanfield) **Join Date: Mar 2004** 09-15-2006, 5:16 AM

Like the title says, the co-owner of my boat is buying out of it and I'm keeping it. Just looking for some opinions on what it's worth. I've already done the nada thing and such.

It's an 04 Supra SSV Gravity Games with 370 hours and in excellent condition. Picture in profile. The only options I can think of that it doesn't have is a shower and heater, it's got pretty much everything else.

(acurtis_ttu) · (acurtis_ttu) **Join Date: May 2004** 09-15-2006, 6:59 AM

Do you have the GG bags too? I think you do. If you sell in Texas......I would say high $30's (36-39k). Alot depends on who you sell to. I woudl consider myself an educated buyer, soem average joe looking to get into the sport will more than likely give you more.

(stanfield) · (stanfield) **Join Date: Mar 2004** 09-15-2006, 7:21 AM

Yeah, it has the larger GG bags.

(acurtis_ttu) · (acurtis_ttu) **Join Date: May 2004** 09-15-2006, 7:46 AM

Is your arangement with the co-owner based on market value?? If so, you may not be friends with that person for long. You'll say it's worth this, they say it's worth that. Why not just base it on what you two owe? or sell it outright, and start over. I've co-owned a boat before and I vowed never to do it again. If there is zero on the loan.....have fun agreeing on a price.

(stanfield) · (stanfield) **Join Date: Mar 2004** 09-15-2006, 7:50 AM

It's not some drama fest or anything, this is actually our second boat together. Was just looking for anyone that's bought or sold an ssv recently.

(nauty) · (nauty) **Join Date: Feb 2004** 09-15-2006, 8:12 AM

Stanfield,

I think Adam's pretty close with $36K-$39K range. I would search through Boat Trader and see what your boat with similar hours and options are going for.

It's a sellers market though, so you should be able to get the higher end of the price ranges. I was in WSBD yesterday and could not believe what DD Moomba's were going for, much less what new SSV's are selling for now.

(gwake) · (gwake) **Join Date: Nov 2003** 09-15-2006, 8:16 AM

Find as many Supra’s of the same year with same or similar options that are for sale. Look on boattrader, flipsell e-bay or where ever. Add up the total price then divide that number by the number of the boats you have the prices on. That will give you an average and an idea of your Value. That’s what I did.

(rich_g) · (rich_g) **Join Date: May 2003** 09-15-2006, 8:36 AM

on this current thread there is a guy that recently bought an 04 SSV (looks comparable) and he said mid $30's, but in the Northwest.

Richard, you sense it is a seller's market. I think that depends at what price point. I am now looking in the $25 to $28K range and I get the sense that I'm in a buyer's market; lots of choices and boats are staying on the market for a while. I sold a v-drive in the low $20's earlier this summer and had a ton of interest and sold it in a week.

It seems every $5K you move up is a whole different set of supply and demand variables.

(rich_g) · (rich_g) **Join Date: May 2003** 09-15-2006, 8:37 AM

http://www.wakeworld.com/MB/Discus/messages/3183/366203.html?1158298167

this thread

(nauty) · (nauty) **Join Date: Feb 2004** 09-15-2006, 9:17 AM

I suppose whether or not it's a buyer or sellers market depends on what market you are in. I would say that the Dallas market is a sellers market based on the lack of used wakeboard boats for sale. Perhaps that will change in a month or two when it gets cold and people start putting their boats up for sale.

(denverd1)

from an economic point of view, boats available at x price don't give you a true indication of the market value. you need to find boats that SOLD at x price and then compare those boats to yours. I think on some websites, you can search for completed sales. just something to keep in mind...

(ronskal) · (ronskal) **Join Date: Jul 2006** 09-15-2006, 9:22 AM

I agree with nacho, it's the sold price which is going to be a few thousand less than the Boattrader asking price.

They were asking 44.9K for my boat and I bought it for 41.5k (used).

(Message edited by ronskal on September 15, 2006)

(wakeprodigy) · (wakeprodigy) **Join Date: Oct 2002** 09-15-2006, 9:29 AM

Hey Stan, there is a 2004 SSV (not GG edition) with 225 hours on dallasboats4sale.com listed at $40k. Don't know if that helps at all.

Tom

(kristin_ware) · (kristin_ware) **Join Date: Jun 2006** 09-15-2006, 10:16 AM

I found these two in Austin at a dealer the 22SSV has 118 hrs, Gravity Games Edition, Tower,lights, tower speakers, cd player/ remote loaded out, ballast system etc... for 41,000 and they have had it for a while, then they have a 24 SSV 90hrs for 45,000 w/o the trailer Tower all the options etc.. if that helps. Upload

(acurtis_ttu) · (acurtis_ttu) **Join Date: May 2004** 09-19-2006, 6:58 AM

Just curious did you gusy ever arrive at a $$$$?

(stanfield) · (stanfield) **Join Date: Mar 2004** 09-19-2006, 7:12 AM

We've only discussed it briefly as our work and school schedules are pretty crazy right now. Mid 30's we both agree, just have to iron out the details.

I wish I had some more dramatic details for you.

(Message edited by Stanfield on September 19, 2006)

(acurtis_ttu) · (acurtis_ttu) **Join Date: May 2004** 09-19-2006, 7:50 AM

weren't you selling this boat at one time?

(stanfield) · (stanfield) **Join Date: Mar 2004** 09-19-2006, 8:10 AM

Yeah, it was for sale at one point.

(rodmcinnis) · (rodmcinnis) **Join Date: Sep 2002** 09-19-2006, 10:06 AM

Whenever two parties are going to co-own a boat there should be a clear, written document signed by both parties that detail how issues are resolved. Obvious issues are how repairs and upgrades are handled. Less obvious, but even more important is how the partnership is dissolved.

An arrangment that I have seen is that if either party wants out then the boat will either be sold or offered to the other party. If the two parties disagree on the value of the boat then the party that thinks it is worth more will buy out the other party.

(redsupralaunch)

Rod I like what you said about the buy-out