What's my Parker worth?

Shop deals on ebay
shop deals on amazon
Classic Parker Boat Forum

Help Support Classic Parker Boat Forum:

This site may earn a commission from merchant affiliate links, including eBay, Amazon, and others.
W

Weasertt

Well-known member
Joined
Oct 11, 2014
Messages
50
Reaction score
0
Location
Miller Place, NY
Hey guys,

I've been kicking around the idea of trading up from my 14 2320sc and into either a 2520 or a 2820. Kicking myself for not just going bigger from the start. Problem is obviously I just bought my boat less than a year ago and I don't want to get destroyed too bad. Do dealers use a certain book for trade values? I've looked it up in NADA but it doesn't seem like dealers are gonna pay NADA. They use the old trick of just marking up the new boat so they can show u more for the trade. So it's a 2320 with Yami 225. About 40 hours on it. Has 6 yr warranty from Yamaha, pulpit, lewmar windlass, rocket launchers, raw water wash down, Garmin 7610 Xsv with gt50 ducer thru hull, fusion radio w 4 speakers and built in VHF. Also have dual axle trailer for it. What do you guys think would be a fair number for it? Just an idea of its going to be feasible or not.
 
Weasertt":3pcum201 said:
Do dealers use a certain book for trade values? I've looked it up in NADA but it doesn't seem like dealers are gonna pay NADA. They use the old trick of just marking up the new boat so they can show u more for the trade.
Click to expand...

Any dealer who wants to sell you a new boat will give you a realistic TRADE IN value. No, not retail. The dealer has to buy it from you, keep it in stock for some amount of time, maintain it, clean it, insure it, store it, advertise it etc. Then sell it at retail for a profit. He obviously can't pay you retail and make a profit. Too many boat owners expect to get for trade what the asking prices are in various advertised boats.

If you want to get retail you have to sell it yourself.

You are going to take a hit if you sell after one year. Look at what you paid for the boat, engine and trailer. Forgot the $400 add-ons. Mostly forget the cost of electronics. Now multiply that number times 0.8. That's the realistic RETAIL price of your boat. Sell through a broker and he keeps 10% (though it's usually worth it). Trade it in, and you will get about 60%-70% of retail. The price you pay for convenience.

Steve (the marine surveyor and appraiser)
 
If you talk with the dealer you bought it from and say you want to trade up for a new boat, most times they will give you a great trade-in to sell you a new boat. it's also easy for them to sell your nearly new trade-in.
 
I think the hit you will take will convince you to keep the boat, which by the way is a great boat. I am sure you will take at least a 20k loss.............
 
I'm ok with taking a loss, I'm thinking I could handle a 15k loss. Cuz then with the tax savings it's only about 10k. I would be ok with that, it just seems like they wanna hurt me for about 30l. That just seems a bit much for me to swallow
 
I know exactly where you are coming from. Last August I went all the way to Conn. to look at a 2013 2520. The boat was 2 years old and only had 60 hours on the engine. The seller told me if I did not buy it he was going to broker the boat. I thought I was fair and my offer was about 20k less than what I could buy a brand new one for. I am sure he was sorry during the winter because I am sure he didn't get close to my offer in the spring minus the 10% for the broker plus winterizing etc.
 
I think I know the exact boat u are talking about. Was 13 2520 and he was asking 90k. Boat was from CT but was brokered from Long Island. I showed the booker a quote on a brand new one for 5k more and he didn't respond.
 
Probably best to put yours up for sale yourself, and continue using it. It should be pretty easy to sell such a new boat, that's still under warranty.
 
Weasertt":3gcw7bcq said:
I think I know the exact boat u are talking about. Was 13 2520 and he was asking 90k. Boat was from CT but was brokered from Long Island. I showed the booker a quote on a brand new one for 5k more and he didn't respond.
Click to expand...

Yep that was the boat. It was brokered at Whitewater in LI.
 
You don't. It's not like selling a stock or real estate for a capital loss. You sell a car for less than you paid, you get a tax benefit? IRS doesn't like that kind of creative accounting. Unless you've got a very creative accountant, Better call Saul!
 
It's not an income tax savings guys, it's a sales tax savings. The trade gets minused before they add tax. So essentially you save the sales tax on whatever the trade is worth. Example 50k for the trade means roughly 4300 dollars in sales tax savings on the new boat
 
You might want to check on that. Most jurisdictions would tax your purchase price and treat the trade in as a down payment. Maybe it's different in your area.
 
In NY it definitely works like that, I'm in the car biz I do it everyday. You only pay sales tax on the difference in price.
 
Weasertt":8unilpnx said:
What do u guys think my boats worth? To sell it privately
Click to expand...

To quote my previous reply.....
You are going to take a hit if you sell after one year. Look at what you paid for the boat, engine and trailer. Forgot the $400 add-ons. Mostly forget the cost of electronics. Now multiply that number times 0.8. That's the realistic RETAIL price of your boat....

Maybe you can sell it for more, but you also have to remember that we are at the end of the season.
 
apparently the 20 pct loss isn't even enough guys. I had been talking to a dealer about a 2520 XLD leftover, it was a 2014. still new, with 16's in route to the dealer. They wouldn't come anywhere near what I thought was fair to upgrade. I guess ill keep the 2320
 
You're likely never to be as close financially to the new 2520 than you are now. Life's too short to not Have the boat you want. Good luck....
 
You must log in or register to reply here.

Latest posts

Back
Top