Setting Used Boat Prices
Another place to look for used boat prices is on boating websites. Boatdealers.ca attracts hundreds of buyers looking for boats every day. Look at boats for sale that are similar to yours and see what they are selling for.
Features are important, as buying a boat tends to be an emotional decision. That said, however, pricing your boat properly is crucial. Used boat prices vary widely based on the size and type of boat you are selling. Price is one of the first things that first-time buyers look for. They may not know enough about boating yet to realize that price isn’t the only criterion for a purchasing decision.
We believe that selling your boat should an easy process, so we offer our clients a simple way to list boats for sale. For a one-time flat fee, you can list your boat with any length description and as many photos as you deem necessary. You pay no commissions on your sale, and you can leave your ad up until your boat sells, without paying extra. Finally, we give you double exposure by placing your ad on our sister site, boat-listings.com. To get started, visit boatdealers.ca and place your ad today.
Boat Values And Pricing Guide
Valuing a boat depends on numerous factors, but in the end its part science, part art and part personal taste. When selling a boat, sellers will often ask, How much is my boat worth? and buyers in turn frequently wonder, Will I overpay for my boat? Of course the final price hinges on both the buyers affinity for the vessel and the sellers proclivity for making a deal.
The process of researching, valuing and pricing a used boat is vital for both sellers and buyers in order to make sure both parties have an accurate view of the proper boat value.
It can be said that the process of pricing a boat broadly resembles that of valuing a home or used car. Remember the old saying, location, location, location! As with homes, location may indeed play a big role in a specific boats value as well. For example, a deep sea offshore fishing boat with a large draft and wide beam may not be as desirable in an inland region where shallow bodies of water are the only boating destinations nearby and buyers would prefer a trailerable boat. Similarly, a car with high mileage depreciates in value the same way a boat with high engine hours loses value.
Lets take a closer look at new boat prices from dealers, versus pre-owned boat prices from individual private sellers and/or brokers.
The Benefits Of Trading Vs Selling
Arguably the biggest benefit of trading your boat in is that once you sign the paperwork, its off your hands. The dealer takes care of everythingthe cleaning, the storage, the listing, transportation, and, most importantlythe customers. All you have to do is sit back and wait.
In some states, theres also a sales tax benefit. This means that the sales tax on your new boat may be reduced by your boat trade-in value and the sales tax on the said trade-in. You can find out by checking with your local state registration agency.
Also Check: Do You Need Boat Insurance In Minnesota
Are There Any Boat Value Guides For Used Boats
Yes. Much like the Kelly Blue Book is used for valuing automobiles, there are three different price guides used for valuing boats: NADA Marine Appraisal Guide, BoatWizards SoldBoats database and the ABOS Marine Blue Book. Each uses a different method of calculating values, which can vary significantly. A broker may use all three sources including the SoldBoats database and YachtBroker data, which are more detailed than what is available to individuals. BoatUS also has their Value Check program, which provides pricing guidelines for their members.
Prices in NADA Guides are given in ranges and may vary up to 10%. They are based on sales via brokers and dealers, not private party transactions. NADA guides include prices for personal watercraft, sailboats, outboard motors, powerboats, trailers and more.
Boats Are In Very Good Condition
Boats in #3 condition will have only light visible cosmetic flaws. The coloration of the deck might be off from original, and the varnish might have some light clouding. Small repairs, or areas that need small repairs, might be in plain sight. All gauges will be present, but the faces might be faded or even cracked. Chrome is good, but possibly not all of it is fresh. A seasoned boater will be able to make a list from five feet away of this boats needs.
Also Check: Diversey Harbor Slip Rates
Negotiating Your Boat Purchase
Before you even begin to negotiate a final deal, make sure youve already gone through all of the above research and come to the table armed with solid background knowledge. Boat dealers know that todays buyers are savvy, can research boat prices, and have probably already talked with their competition. They know just what their overhead costs are and what level of profit they need to make to stay in business. Ask an honest dealer what the bottom-line price is, and youre likely to get a straight answer.
That doesnt mean, however, that you cant make some special requests. Dealers can sometimes add an extended warranty or an option or two to sweeten the deal, without taking too much of a hit. And remember, youll often be able to get a better deal if you:
- Buy a boat during the off-season or at the very end of the boating season, when dealers really want to move their inventory.
- Buy a leftover model year boat, which the dealer wants to move to make way for the next model year.
- Buy at a boat show, where the dealer may offer special incentives or reductions.
- Order a boat as opposed to buying off the lot, so the dealer doesnt have to pay floor plan .
To learn more about the entire buying process, financing or ownership costs, be sure to read:
Work With A Professional
Whilst doing your own online research is a great starting point and can give you an initial idea of how your boat may be worth, your findings will only be as good as the data that you can access.
It may therefore be advisable to work with an expert to get a valuation for your boat. They may have access to more data about current market prices, sold boat prices and general expertise in boat valuations.
When choosing a company to work with to value your boat you may want to check if they are a member of certain bodies such as the British Marine Foundation .
Recommended Reading: How To Clean Mildew Off Boat Seats
Pricing Guides For Boat Sales
Helping to arrange Boat Financing for your buyers is helping yourself get paid, and contrary to common sense, many people are shopping before they ever actually secure the funds! A new Boat Lender just popped up here in South Florida called Hydro financing and I would definetly give them a shout. Theyre designed specifically to get in and out quickly with rates that are just as good as you would get through any other lender!
What Will 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.
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.
Also Check: How Much Does Freedom Boat Club Cost Per Month
The Kelley Blue Book Of Boats
Here is the meat of the article that you’ve been waiting for! There are 3 widely recognized sources for boat pricing, and I’ll discuss each of them briefly. The NADA Marine Appraisal Guide is absolutely my favorite of the bunch. It includes pricing for everything from motors to trailers, and is used by banks, finance companies, insurance companies, and even government agencies. Now that is accuracy you can rely on!
The next Kelley Blue Book of boats would be the ABOS Marine Blue Book which has ‘blue book’ right in the name. It is quite comparable to the NADA and is also used by a variety of institutions, but is locked behind a paywall which is why I don’t suggest it nearly as often. Overall it has almost the exact same functionality, except that you need to pay for it. If you’ve got money to burn or you just really dislike browser ads then it might be worth a subscription, but I suspect that most people will choose the free option.
Our last option for boat pricing is BoatWizard’s Sold Boat Database. I personally can’t attest to the quality of this one, as it requires an app download and my phone is already filled to bursting with apps and pictures that I can’t bring myself to delete quite yet. From what I understand it is based on the actual prices that boats were sold at, which leads me to believe the variation in pricing is much greater than what you’d find in one of the aforementioned boat Blue Books because of all the variables involved.
FREE BOAT ERASER OFFER
A Couple Of Extra Things To Consider
Sometimes owners put so much money and hard work into a boat that they value the boat higher than the market does. It takes time and a few low ball offers to wear down the emotional seller to a more rational price point. Sometimes, the seller sets an idealistic price and wont budge because they dont really want to sell. We have encountered this a few times and we move onto the next boat.
The corollary to emotional pricing is emotional buying. Sometimes we fall in love with a boat something about the interior layout or the lines or the color of the hull, even the name can have a profound influence. We cant help but let our emotions in to the decision making process, but we have found that they should be reserved for the final decision. In order to minimize our emotions we try to quantify everything in terms of numbers and put it in an excel sheet.
A final note, take all of this with a grain of salt and USE YOUR JUDGMENT! The calculator and recommendations above are in no way fool proof. As Publilius Syrus wrote: Something is only worth what someone is willing to pay for it. Good luck and happy boat buying!
Don’t Miss: How Much Does Freedom Boat Club Cost Per Month
How The Blue Book Gives The Value Of Used Boats
The Blue Book boat guide is referred by many boat sellers and buyers. Several folks including dealers, franchised retailers, and private owners, are dependent on the Boat Blue Book. You might need to handle a lot of experiments to get the true value of the boat. The accumulated boat data has to be properly analyzed first. You need to take a look at the boat industry developments, the place, and historical trends too. The final value obtained after the research will be the most recent value of the boat.
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 .
You May Like: How To Get Mold Stains Out Of Boat Seats
Is There A Kelley Blue Book For Boats
Pricing a boat can be a nebulous equation that takes into account science, art, and of course personal taste. The final price generally depends heavily on how much the buyer likes the boat versus how savvy the dealer is at forging a deal. It’d be great to have a starting point. So is there a Kelley Blue Book for boats? As a matter of fact, there is. Multiple options are available and while they vary a bit in price, they should at least give you a decent starting point.
If you want to get the best price possible, your boat will need to look its best. The Better Boat is here to help with that! Whether that’s keeping your deck looking amazing with , shining the hull with boat marine polish, or keeping your chrome and metal gleaming with a quality marine metal polish. Maintenance is extremely important when it comes to the possibility of reselling. You can’t undo decades of wear and tear overnight, so keep your boat looking great at all times.
No matter how great your boat is looking, there will be a bit of discrepancy in the price which is up to you and the buyer or seller to decipher. We will go over all of these options that you can use as a Kelley Blue Book for boats. There are some significant pros and cons, so we’ll assist you in finding the pricing method that is the right one for you. Buying or selling/pricing a boat doesn’t need to be difficult, and we will make it as easy as possible for you. So let’s get started!
Looking For Kelly Blue Book Boats
The Kelley Blue Bk trade-in value is used to discover the approximated cost at which a person could offer a watercraft or boat. Kbb offers you the make, design and engine type of the boat to establish the trade-in value. Thr r lots f rn u m want t know th value of ur boat. Mb u are selling it, nd wnt to b ur that th r fair. Maybe u are lkng to a bu a used bt and wnt to mk ur the llng r nt nfltd.
You May Like: How Much Does Freedom Boat Club Cost Per Month
High Net Worth Insurance
If you have a range of high value items you may be best placed to consider a specialist high net worth insurance policy where you can cover a range of high value items with more extensive cover than a standard insurance policy may be able to provide. Insuring high value items can be complex, and it is vital to get it right given the value attached to these possessions. That is why working with an expert insurance broker in this area can give you added peace of mind.
At Anthony Jones we offer a bespoke service to individuals needing to protect high value possessions. We work closely with our insurance partners to provide insurance solutions for many types of high value possessions, including yachts, sailing and speed boats. Talk to us about our High Net Worth Insurance offering today on 0208 8290 9086 or email us at .
How To Use The Nada Guide To Determine A Boats Value
The memories you have created on your boat make it very precious and placing a monetary value to it may become a bit of a challenge when you want to sell it. Or you just may not have the knowledge needed to value it. And the same is true on the buying side – you want to make sure when buying boats, that you are not overpaying. Well that is why the NADA Guide is one of the best places to go when you want to determine the value of your boat.
One of the most common questions we receive at Nada Book Info is, “How do I find my boat’s value?”
It may seem simple for many of you on how to value your boat, but it is understandable that many people may not know how to use the NADA Guide website to determine the value of the boat. There are a lot of different options to choose. But don’t worry, below we will walk you step by step, and by the end of the article you will be sailing right through!
You May Like: Who Owns Freedom Boat Club
The Type Of Boat Youre Trading In
The value of your boat depends on the individual brand, age, condition, the size and length, onboard equipment, and available upgrades. As mentioned above, strong brand names like Lund Boats, Bayliner, Crestliner play a large role, as well as location, plays a role in how your boat value will be calculated, especially if the dealer has to ship it elsewhere.
Of course, the value of your boat is first determined by the type of boat it is, which is also something that determines how it depreciates in value as well as the demand for the boat. For example, a good old pontoon or powerboat may be more in demand than a sailboat. In this case, value is added to your boat.
Vintage Boat Pricing Guides
The Hagerty Guide can also help with actual sample pricing. In this guide, evaluation of condition will range from Fair to Bristol for each model and year, with three levels in between. A Bristol version can go in excess of five times as much as a Fair example of the same boat.
As with other collectibles, a classic boat can be an investment or a money pit. Its not uncommon for a restoration to cost four times what the boat will end up selling for even if properly and beautifully restored. The key is to not fall in love, especially if it is with a project.
Boat valuation isnt just for the purposes of selling or buying a vesselAlthough boat valuation is generally done when a boat will be bought or sold, insurance is another reason to determine what a vessel is worth. To properly insure an asset you must value it for market and replacement value although the latter will not be what an insurance claim will pay out in case of loss.
A survey may also be needed to secure financing so a lender knows how large a loan and how much down payment are needed.
Read Also: Who Owns Freedom Boat Club