Thursday, November 24, 2022

How To Determine Boat Value

Lowe Industries Ss 250

How to Maintain Boat Resell & Trade-In Value | Action Answers

This pontoon boat is about 25 feet in length, and it can hold up to 15 passengers. It weighs less than 2,200 pounds.

This boat sells for around $29,000.00 new.

  • 3 YearsA three old version of this sells for $20,740.00, which is an $8,260 loss. This is a loss of $2,753.00. It has lost about 10% of its value each year to put it at a remaining value of 71%.
  • 5 YearsAt five years, the boat is worth $17,550.00. This puts it at a total dollar loss of $11,450.00. This is a loss of $2,290 per year. The remaining value is already down to 60%.
  • 10 YearsTen-year-old versions of this boat are selling for only $14,950.00. The dollar loss on this is $14,050 or a loss of $1,405.00 per year. The remaining value is 51%.

This boat takes a big hit in value over the course of its ten years. Unfortunately, the boat also isnt cheap, so you do lose a fair amount of money.

If I were to buy a pontoon boat, Id probably stick to the used market rather than buy a new one.

Pontoon boats lose a lot of their value over the first five years. You might want to consider buying these boats when theyre five years old. You could sell it five years later, and youll have only lost 9% due to depreciation.

These boats arent meant for rough waters, so a five-year-old boat is usually in decent condition. Also, because these boats are social and recreational in nature, boaters tend to clean and take care of them more than they would a fishing boat.

Pricing A Preowned Boat

Preowned boats are much more difficult to get a decent price for. Used boats are almost never pristine, no matter how well they are maintained. There are three overall categories that can be used to determine a boat’s condition. From most important to least: Mechanical such as engine hours and performance, status of the hull, health of the deck, etc. After that comes the boat’s rigging which include the mast, boom, sails, stays, and shrouds.

Arguably the least important category is the cosmetic side of things. Is the gel coat intact? Is the wood trim deteriorating? You can easily patch cosmetic issues long enough for the sale to go through, and honestly as long as the engine and rigging are in working order I don’t much mind sailing on a boat that isn’t the prettiest thing on the water. I say it just adds personality… Or maybe that’s just my way of compensating. Regardless, many cosmetic repairs are easy fixes that you can do yourself with very little experience or investment.

Does Kelley Blue Book Have Boat Values

Outside of personal watercraft , Kelley Blue Book doesnt provide values for other kinds of boats. This also includes boat-related products like outboard motors and trailers.

Why doesnt Kelley Blue Book have boat values? Good data is too hard to come by. Its impossible to get a large enough sample size to set a boat value with the confidence and accuracy we demand. We dont put the name Kelly Blue Book on just any value. We have almost a century of valuation expertise and trust to consider.

Kelley Blue Book only provides trade-in values, private party values and Fair Market Range when we can get our hands on enough actual transactions, across a wide enough range of the country, to ensure we can produce values that are both fair to all parties and reflect the ever-changing market.

Getting a value for a boat isnt easy, which is why many people choose to work with a professional boat surveyor. In the end, there are online sources that can give you an estimate, but Kelley Blue Book/KBB.com isnt behind any of them. Good luck.

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How To Identify The Model Year Of A Yamaha Outboard

Before you sell your outboard motor, it’s a good idea to research its market value to make sure you get a good price. There are several different ways of determining the value of your outboard motor, most of which are intended as a guide instead of providing a definitive price. Determining the value of your outboard motor is a relatively simple task and should only take a few minutes, depending on the method you choose.

What Affects Used Boat Value And Price

5 tips on how to determine the selling price of your boat ...

There are a number of factors that determine the value of a pre-owned vessel. The most obvious ones include size, age and model. After that, there are more subtle elements like condition, location and equipment.

Condition divides into three general categories. Mechanical , rigging , and cosmetics

Boat location and condition are big factors in the value and asking price for boats for sale.

As previously mentioned, location will increase or decrease the price as well. In areas where boats are highly-concentrated such as lakes, rivers and the East Coast of the U.S., prices may be somewhat depressed due to a larger supply. However, selling a boat where there is a small population can also decrease the number of buyers and the price may adjust 10-15% downward. Use in salt or freshwater also affects the value since freshwater boats often have fewer corrosion issues.

Finally, the way a boat is outfitted makes a difference. Updated electronics are attractive and will raise the appeal of a vessel. However, electronics become obsolete quickly, so a savvy buyer will not put much of a premium for these if they are getting older. If the vessel has advanced electronics including AIS, satellite communications and radar, these will generally raise the price because they arent typical upgrades.

Boat electronics, navigational and communications equipment can add value to the vessel making them worth more in the eyes of interested buyers.

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Ways To Limit Depreciation On Boats

Boat depreciation is inevitable. In fact, Id venture to say it is worse with boats than it is with cars. This is because vintage cars and RVs can often go up in value, whereas I havent encountered many examples with boats.

This being said, the lifespan of a boat seems to be quite high.

Most boats have strong hulls that can be repaired and reconditioned, and you can easily find many boats from the 1980s selling on the used boat market.

Here are some ways to help you deal with boat depreciation:

  • Maintain Your Boat
  • Sell it In The Summer.
  • Sell it From The Water.
  • Budget For Engine Replacements

    If you plan on keeping your boat for a while, you should plan on having to repair or replace your engine at some point. Smaller outboard engines tend to need replacement more often, but they are cheaper to replace. Large diesel motors can last a really long time, but you may want to learn how to work on them so that you can maintain them yourself.

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    Five Criteria To Help Assess Vintage Boat Values:

  • History who owned it , did it win any famous races, and was it used in a notable event or movie? Documentation is generally needed to prove any of the above.
  • Rarity how many were initially launched and how many have survived?
  • Styling as with cars, a unique or much-appreciated aesthetic will raise the boats value.
  • Condition is the boat in excellent and original condition or was it restored and how expert and accurate was the restoration?
  • Seaworthiness can the boat be used on the water?
  • To help price a vintage boat you want to purchase or sell, get acquainted with available online resources. Boat clubs and shows are great places to learn the basics and classic and wooden boat shows take place all around the country. Other resources include the Antique and Classic Boat Society, the Chris-Craft Antique Boat Club, the Antique Boat Center, Antique Boat America and Woody Boat magazine. Also, a visit to a wooden boat restorer will help assess what it takes to work on, maintain and budget for classic boat ownership.

    Factors To Consider When Purchasing Boat From Online Outlet

    Internet Tools & Uses : How to Find the Value of a Boat Online

    It might have been difficult to conceive the idea of buying boats without first getting it properly inspected some 10 years ago. As things and today, many people buy boats online without first inspecting it. One of such sites where you can buy boat is eBay. Those buying online never get to see the boat before it is delivered at their doorsteps.

    There are so many outlets online today where you can buy boats. Professionals that can help you make the right boat when chopping online are also available. You will never have any interaction with the boat dealer when buying online. Just visit the website and read up the specs of the boat and that is all. You will also not have to bother yourself on traveling own to the showroom. All you have to do is simple website navigation to place your order for the boat. You can also bookmark the webpage to check thing up again at a later date.

    You can complete transaction on the boat without leaving the comfort of your room. The boat will be delivered at your doorstep once you have made payment for it online. The boat can also be deposited at your driveway when it is being delivered.

    No related posts.

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    Should I Hire A Surveyor To Appraise A Boat Im Selling

    Yes. A pre-sale boat survey may help price the boat more accurately and sell it quickly. In some case, small issues may surface that can be fixed prior to the boat being listed and that will help it show better and possibly sell for a higher price. Boats that have a recent survey are perceived by the seller as being better cared for and will stand out in a crowded marketplace.

    Assess The Popularity Of The Model

    In parallel to this, you must assess the popularity of your boat. Is that model still on the market? Is it a model that has received special recognition in the sailing world? You should investigate this question by seeking information from manufacturer websites and looking through specialist magazines. Also remember to compare it to similar models, for a better overview of the segment to which your boat belongs.

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    Find A Boat Dealer You Can Trust

    We cant stress this one enough. Youll run across some dealers who are in the business of selling boats because they have a passion for boating, and others whose main interest is making a profit. Fortunately, there are a lot of boat nuts out thereand accordingly, there are a lot of dealers and salespeople who truly enjoy matching a person up with the boat theyre going to love. Yes, they still need to make a living and they will want to make a profit. But when you find a dealer you can trust, look them in the eye, and ask them to give you the bottom-line best price, youre likely to get an honest answer.

    A good place to start is making sure youre buying from a .

    Boat Pricing Is Variable

    5 tips on how to determine the selling price of your boat ...

    As you check on pricing, its important to remember that boat value is subject to a lot of variables. Along with power choices and features, geography will play a role because dealerships have different levels of expenses depending on where theyre located. And when it comes to used boats theres obviously a huge range of factors to take into account, ranging from the boats condition, to how much use its had, to where and how its been used, to what warranties it may still carry.

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    Use A Price Curve To Estimate Used Boat Market Values Over Time

    In evaluating a particular boat we have as gone as far as making depreciation curves. Dont worry it sounds complicated, but its not. You can .

    We collect all the listings for comparable boats in Excel and then plot them on a scatter-plot graph.

    For example, if we are looking at a 41 Beneteau, we search for all Beneteaus in the 40-43 range. We put the age and price of every boat into an excel document and plot them on a scatter-plot graph.

    Next, we add a trend line to fit the data. This will give us an idea of what the price of the boat is doing over time and we can project where the price will be going in the next few years.

    If we are planning to sell in a few years we would want to be near the beginning of a low slope segment of the trend line. Sometimes the trend line is skewed by overly-idealistic sellers or junk boats, which we consider outliers and often strike from the data.

    Example:

    I plug the prices I find into the Calculator and I get the following trend line. The more data points you add to the excel sheet the better your estimate will be! 5 data points is not great, but its all I could find for a Dufour 35. Based on this curve line I should assume that a 1979 Dufour 35 is worth ~ $29,000.

    Nada Guide Or Kelley Blue Book

    Youll get adequate information from the Kelley Blue book about boats in the Motorcycle section. This book has been able to compile an extensive list of vehicles that have been produced since 1995. Although if you need an older boat, you can look up NADA Guides. With the guides, youll be able to check the current value of the boat and also determine the boats resale value.

    Try to check the boats condition before using the guides. If you have your boat in good condition, it would worth more than identical or similar boats that need repairs. Therell be reduced value for small repairs on the boats. The values also will be in a private state in the case where youve put care into your boat.

    You can also find out about sales prices to compare the different boats. Dont forget the boat is going to be a higher price if its located near water. Boats are always in high demands during summer and spring seasons. Its simple dont try to sell during winter, focus on summer and spring.

    Also, try to be competitive when it comes to pricing. You can use the price range in your locality as a guide. Price boats that you feel are in better condition. Try to be honest and dont make the mistake of pricing your boat higher than one thats in a better condition within the same locality.

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    Boat Depreciation Guide: 7 Boat Types Checked

    Whether you buy a new boat or an older boat, youll likely have to deal with depreciation. But just how much will your boat depreciate over time?

    In this post, we analyze 7 popular boat types from popular boat brands.

    Ill give real examples of boats so you can see what to expect when you buy a boat.

  • Final Thoughts
  • Is There A Blue Book For Boat Values

    How much do boats depreciate?

    Its natural to wonder How much is my boat worth? or What should I pay when I buy a boat?, but its also important to ask Who is providing the information?.

    So lets establish this up front: There are no Kelley Blue Book® Values for boats, unless its a personal watercraft. So if youre looking for a value for your personal watercraft, were happy to help. Of course, if you need a value for a passenger vehicle, motorcycle or snowmobile, we can help there too.

    But if youre looking for boat values, where can you turn since Kelley Blue Book doesnt offer them?

    If you pull up a search engine and type in boat values or Blue Book boat values or boat values KBB, a lot of sites come up. Most are legitimate, like Boat Wizard and ABOS Marine. They can give you a good general idea of the price of a boat like yours or the boat you might consider adding to your fleet.

    But be careful. Not all boat value sites are legitimate. Almost every site out there throws the words Blue Book in there to confuse the issue. Some sites cover their pages with phrases like Boat Blue Book Value or KBB Boat Book to ty to attract shoppers and search engines alike. They hope youll assume that their boat values are genuine Kelley Blue Book boat values.

    But theyre not.

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    The Boston Whaler Montauk 15/cc

    This boat is a fiberglass fishing boat with a center console. It is 155 long and has a dry weight of 950 pounds. The maximum number of passengers is six. The standard engine for this boat is a 60 horsepower outboard motor.

    Boston Whaler markets itself as a higher-end fishing boat that will retain its value for many years. Also, If their marketing is correct, then we should notice slower depreciation with this boat. Its also a fiberglass boat rather than aluminum, so it would be interesting to see if a fiberglass boat holds its value better than an aluminum one or vice versa.

    A new one would have cost you $21,090.00.

    • 3 YearsA three-year-old model is valued at $17,080.00. This is about $4,000.00 less than a new one, so its lost about 20% of its value within the first three years. Another way to look at it is that youve lost $1,333.00 a year for the last three years.
    • 5 YearsA five-year-old model is valued at $14,860.00. In this case, youve lost $6,230.00 over five years. This is $1,246.00 a year and a total loss of 30% to depreciation.
    • 10 YearsA ten-year-old model can be purchased for just $9,830.00. This is an $11,260.00 loss in value or $1,126.00 a year to depreciation. It now holds about 47% of its value.

    The fiberglass held its value a little better than the aluminum boat. However, this boat costs much more than the aluminum boat at it will probably be needing a new engine soon as well.

    As far as money is invested, you might be better off getting an aluminum boat.

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