CD 31 value

[Kevin Kaldenbach]

I have a CD 31 that the surveyor has rated at average to above average condition. But his value seams low even for today’s economy. I would like to know if there were any CD 31s sold, anywhere, so that I can argue value with him. His value was around $26000 and the cheapest one I found was around that but the deck was delaminated. Somewhere in the 40s seams like the average that I have found.

Thanks

Kevin

[John Vigor]

Kevin, check http://www.yachtworld.com.

Average asking price for a 1985 CD31 is $46,000.

Cheers,

John V.

[Tom in Cambria]

As luck would have it I've been looking into putting mine up for sale and have a little information. In 2007 and 2008 about 10 of them sold for the $ 48,000 range most of them on the East Coast. I 2009 I could only find one that sold. That one was in Florida. It sold for $ 26,000. What you can't tell from listing like that on the internet is how much gear was on her and what kind of condition she was in. Of course boats have taken a hit in value just like our homes this year. So a boat that sold for $ 48,000 a year ago might only be worth 60% of that this year. So 60% of $48,000 would put you in the $ 28,000 range. If she wasn't in good condition or was lacking in the usual gear it might be worth a little less so maybe 26,000 would be about right. I'm guessing your surveyor found that one in Fla and put that down as the most recent sale price he could find as a "comp". Of course, 40% off is a worst case scenario and they might have not depreciated that much. The local broker here in Calif told me that Cape Dorys have their own special following and hold their price better than most boats, so you can't really go by the general economy decline completely. On mine I have radar, a Monitor, power take off refrigeration, roller furling jib, custom propane locker, windlass with 200 feet of BBB chain, and a lot of upgrades like that. I'm thinking to ask maybe 35K and expect to take less. The other problem you have is that a lot (or most?) banks aren't writing any boat loans right now because of the financial crisis, so you almost have to find a buyer with the cash which further narrows the field. This is not really the time to sell a boat or a house, but what are we to do -- sometimes you don't have a choice. It may not be as bad as we think either. I'd love to hear that some sold in the 40K range in 2009. Good luck and let us know how it goes.