Help with Grady Valuation

[itchiemitten]

Looking at a 2003 Grady 225 Tournament with 225 Yamaha four stroke with140 hrs.comes with tandem axle loadrite. I know the owner, bought the boat new. Spent first 5yrs in Salt Water, then the rest in fresh water. I believe the hours are legit knowing the owner. Currently asking mid 30's. Plan on having engine scoped for corrosion if it hasn't been already done. What to you all think a good offer would be?

 

[Fishtales]

I'd check comps on Boattrader and other sites.

 

[RussGW270]

I would also check out NADA value, and find comparable, as he said, boattrader and boats.com etc listings. You will find them all over the price ranges, but... since you know the person, I am sure you will both come to a fair price with research from both of you.

I would think that knowing who owned it before would be a little bit valuable for you.

R

 

[seasick]

Did the seller set a price?
Yes look at comps but you need to make adjustments for any issues or options.Also note that what folks ask is usually not what they end up selling for. That 'discount' is hard to guess
You can have the motor scooped but if that is the original motor it most likely does not have the exhaust issue.
Regardless, if you make an offer, make it contingent of a survey especially if buying a boat is new to you. Your eyes see your dreams but the surveyor's eyes can see the nightmares.

The trailer may have some value or it may have none depending on condition.

Good luck.

 

[Fishtales]

Another is to check various GW dealer websites. Good idea for retail ask prices.

 

[seasick]

Another is to check various GW dealer websites. Good idea for retail ask prices.

I think that works better for later models. For older boats, there are too many variables that can affect value.
Although the NADA value to me is kind of useless, by pricing similar models of different model years, you can get an somewhat accurate idea of the depreciation rate by year. With that and the original new price, you can estimate the general market value then adjust that for the different add-ons and options.
Looking up comps is easier but asking price and selling price can be far apart. If you see a boat that has been on the market for a long time, it is probably over priced. For sale by owner can be mis-priced also as some folks may think their boat is worth a lot more than it really is. All that said, condition is everything so comparing listings on paper is just not a great way to compare pricing..

 

[Fishtales]

Agree, but it really can be done quickly today as most are online. I think NADA isn't worth it. Too many variables and you end up with a wide range. The best time to buy is when someone is done with it or doesn't want to hold it over the winter and have it a year older next year. This is a good time to get a new boat off a dealers hand too. You can negotiate for them to hold it over the winter and continue to show it to avoid winterization.

 

[Parthery]

What part of the country? In the NE or out West, that's probably about right. In the SE or Florida, that's probably high.