What Determines The Value Of A Boat
A lot goes into determining the estimated value of a boat. The blue books for boats do a good job of compiling huge amounts of data to provide a rough estimate of a vessels market value.
But, there are so many other moving factors and variables that can make a boat worth more or less the estimates provided by the blue books for boats.
Lets look at some factors that will influence the value of a boat to ensure that you get a good deal whether you are buying or selling a boat.
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Posted March 21, 2006. I’m looking at a used 2002 Nitro NX882 150HP Merc XR6. The boat is in very good condition, has been kept in a storage building out of the weather. Not a whole lot of hours on it, about average 2-3 trips per month during fishing season. The boat has dual console, 2 fishfinders , 3 new batteries, new tires.
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- Make all of your mistakes early in life. The more tough lessons early on, the fewer errors you make later.
- Always make your living doing something you enjoy.
- Be intellectually competitive. The key to research is to assimilate as much data as possible in order to be to the first to sense a major change.
- Make good decisions even with incomplete information. You will never have all the information you need. What matters is what you do with the information you have.
- Always trust your intuition, which resembles a hidden supercomputer in the mind. It can help you do the right thing at the right time if you give it a chance.
- Don’t make small investments. If you’re going to put money at risk, make sure the reward is high enough to justify the time and effort you put into the investment decision.
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Five Criteria To Help Assess Vintage Boat Values:
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.
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Abos Marine Blue Book
The ABSOS Marine Blue Book was first published in 1949 and contained more than 300,000 boat value entries. Bankers, insurance companies, dealers, brokers, and surveyors have since used the ABSOS Blue Book to estimate the value of trailers, motors, and boats.
In the book, you will find comprehensive information about a boats year, make, model, weight, and load capacity. You will also discover the engine type, horsepower, hull material, hull length draft, and beam.
How To Determine What The Condition Of The Boat Is
Understandably, the condition of a boat impacts the valuation. Consider the following scenario: your boats hull has been punctured and needs to be repaired. If this is the case, it has the potential to depreciate a boats worth by a large proportion, regardless of any other positive characteristics it may possess.
The mechanics are as follows: Engine hours and the physical condition of the hull and deck are among the factors to consider. Are the bones of the boat in decent shape, to put it another way? Is the engine in proper condition considering its age? If this is the case, the boat will be worth more money. On the other hand, if the boat has been driven extensively and has required numerous repairs, its value will be significantly reduced.
The cosmetics are as follows: All of the non-essential features of the boat are included in this category. Is the paint in good condition? How well does the trim appear to be in condition? Is the metalwork gleaming, or has it become corroded? These considerations come into play when buyers determine how much they are willing to spend for a piece of property.
These are merely questions that apply to sailboats in general.
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A Marine Survey Can Affect Boat Offers You Get When Selling A Boat
Marine Surveyors are hired to inspect boats similar to a vehicle pre-purchase inspection by a mechanic. They also check engines, gear, accessories, interiors, structural integrity, compliance with legal and safety laws and standards, etc. They may have the boat pulled out of the water to check the hull, or send a diver underneath, or use inspection tools. See our article on how you do a pre-purchase boat survey.
Fair Market Value Of A Used Boat What Is A Used Boat Worth
The value is what someone is prepared to pay you for it. For a boat that costs significant amounts of money, you dont price it fairly yourself. It is something that surveyors, insurance companies, and banks will get involved in. Never the less, you should do your due diligence to set your expectations in a reasonable range. One amazing trick is to go to anauction to see what the buying public is prepared to pay for similar boats.
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Best Boat Value Estimator Tools Find Your Boats Worth Or Trade
Do you know the value of your boat? Are you selling your boat and need to know how much to offer it for? Or looking to buy a vessel and want a fair market value estimate? You surely dont want to over pay or leave money on the table and in fact, there are a few good boat value calculator tools out there but they rely on much of the same data behind the scenes. It is important to do your due diligence and research a boats price to know its worth. Here we list thetop 10 boat value calculatorsand explain what things affect a boats worth.
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. Also, potential buyers that are financing their purchase will be able to secure financing faster and easier with a proper survey, helping you sell your boat faster.
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Kelly Boat Blue Book True Value Of A Boat
How does Kelly Boat Blue Book give idea of the true value of a boat?
Kelley Blue Book boat value is determined based on the year of manufacturing, the model and the make of the boat. Present working condition of the used boat is also considered by the Blue Book. A host of other factors, like the mileage, is also put into consideration. The two sources of information are made available free of charges online. You can use their very easy-to-use calculators to determine what the true value of the boat is. This way, you will be able to get a honest buyer or seller for the boat.
Three Types Of Kelley Blue Books For Boat Values
Determining the value of a boat is not easy. Brokers and dealers depend on massive aggregated data to arrive at rough market price estimates. In the end, how much you sell or buy a boat will depend on your negotiation skills and ability to strike a good deal.
Today, many online resources claim to help value boats. Some resources make a good effort and offer reasonable market price ranges. But, just because a site uses terms such as Kelley Blue Book Boat Values or KBB boat values doesnt mean that the boat values they offer are accurate.
If you want to know a boats estimated value, it is best to use the industry guides that dealers and brokers use. These are casually referred to as Kelley Blue Books for Boats, but they are independent guides not affiliated with the Kelley Blue Book company.
The industry-specific guides for boat values are:
- The NADA Guides
- BUC used boat price guides
- ABSOS Marine Blue Book
You dont need to invest in these books before selling or buying a boat. But, if necessary, you can ask your dealer or broker which of these guides they use and then compare it with any of the other two guides to get a clearer picture of a boats market price range.
Lets look at each guide in detail.
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Kelly Blue Book Boat Tips
You need to be aware of the true value of the boat before going out to make your purchase. You need to properly prepare so as not to be taken for a ride while buying. A good knowledge of the boats value will help you arrive at a fair final price.
Some of the top tips needed to achieve your aim is highlighted below:
No one will be able to take you into buying an expensive boat if you already have your mind settled on the type of boat you want to buy. The salesmen will attempt talking you into buying the very expensive ones since this is where they get their daily breads. You will however be able to save lot of money if you already have a clear mind on what you want to buy. Never allow yourself to get talked into choosing a boat you do not have adequate fund for.
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· Keyword Research: People who searched nada boat values by vin also searched Haul-Rite Trailers: Pontoons, Tritoons, Fishing Boat, Utility, & Custom Trailers … $4,799 Kelley Blue Book Typical List Price for MY. Yamaha M-60 C-60 T- 80 . $800. Used Fair. Home Audio. Amplifiers. Yamaha. Yamaha M-80 vintage stereo power. There are also listing for 2016 boats which are similar or slightly higher in price, and an older 2010 model which costs less than the newer boats yet is substantially higher than the NADA book value for a 275 Freedom of this age . These five listings showed up, when we searched for the Freedom 275 on boats.com.
2005 Buick Park Avenue Sedan. Compare. 2005 Buick Park Avenue Sedan. Stock #: 106320 Interior: Leather Color: Blue Drive: FWD VIN: 1G4CW54K954106320 Engine: 3.8L V6. The most critical factor in determining your boat’s value is its type. Larger boats with more powerful engines and more amenities will fetch a higher price. Conversely, smaller boats and sailboats are worth relatively less to begin with and have a consummately lower value in the used market. Age is the other main factor that affects a boat’s value.
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Where Can Kelly Boat Blue Book Be Found
There are quite a number of great resources that can direct you when you want to buy a boat. Good examples are the NADA Appraisal Guides and the Kelly Blue Book.
The Kelly Boat Blue Book is simply referred to as the Blue Book. KBB is the original and most reliable source of information to determine what the value of the boat is. It has been useful in providing information for over 75 years now.
The NADA Appraisal Guides on the other hand had been founded since 1933. This is also a very useful source of information and it can be used to obtain latest review on the worth of the boat.
Accurately Pricing A Used Boat
If the boat is a popular model, of which a number were built, you should be able to find information on performance statistics and possible problems, which will impact price. If the boat is older or fairly unique, performance information may be harder to find.
There may be an online history of the model via owner associations or clubs. These will usually discuss issues that a model has experienced over the years such as engine mount failure, fuel tank corrosion, steering irregularities and so on. Brokers who specialize in that particular type of boat may also be able to offer an opinion, especially if theyve been in the industry a while and have a deep expertise.
Checking comparable models on boats.com listings, YachtWorld and Sailboat Listings will also help zero in on a fair price. Its a good idea to check your boat values with the Boat Trader Price Checker tool. Two boats may have very different values depending on upgrades, maintenance schedules and the season they are listed.
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Pricing A Classic Or Vintage Boat
Buying a vintage boat makes the purchase of a regular used boat look like a walk in the park. Such vessels are difficult to find and price, and to some degree, even to define. The Antique & Classic Boat Society has five categories of older vessels based on age .
Boats Built:
- Prior to 1918 are considered Historic Boats
- 1919-1942 are considered Antique Boats
- 1943-1975 are considered Classic Boats
- 1976-1995 are considered Late Classic Boats
For our purposes here, well refer to them interchangeably as classic or vintage since many sellers would refer to them that way in the market.
Classic boat brands such as Chris-Craft or Riva have increased 5% per year over the past two decades . However, finding a fair valuation is difficult due to a lack of comps and prices fluctuate over time like with other collectibles.
Boat Values Kelley Blue Book
Valuing a boat relies on many elements. Sellers will frequently ask, How much is my boat worth? and also buyers consequently regularly wonder, Will I pay too much for my boat? Naturally the final price hinges on both the buyers affection for the vessel and the vendors tendency for negotiating.
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What Can Increase A Boats Value
Good cosmetics and visual appeal always add value or at least they get the boat noticed by a potential buyer. A washed, waxed and covered vessel shows it has had good care and that raises the perceived value. Upgrades and easy add-ons can also increase the value of the boat accessories such as a nice new Bimini cover, custom storage cover, handrails, solar panels, trolling motor, electric windlass, new fenders, new lines, fresh anchors, etc.
Good cosmetics and visual appeal always add value and help the vessel get noticed by interested boat buyers.
A well-documented history and maintenance records help immensely. Regular upkeep, proper winterization and frequent oil changes all show that a vessel hasnt been neglected and the boat will command a higher price perhaps 10% 20% over the listed average.
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.
KBB.com Can Help You:
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Kelley Blue Book Alternatives For Boat Valuations
While the Kelley Blue Book company does not provide values for used and new boats and other watercraft, there are three other guides that will help do that for you:
Each guide has its own design features as the BUC book will divide sales reports into different geographical regions. It was published in 1961 and has over 700,000 entries. While the ABOS guide has over 300,000 entries, it focuses more on the specs of the boat, going beyond weight capacity, etc., into horsepower and other important data.
Finally, the NADA guide focuses on smaller watercraft and strives to provide a 5 to 190% average market range in value. So there is a Kelley Blue Book for Boats, it is just not called that.
