Getting rid of boat

[jlinder]

Well the time has come to get rid of my boat. Kids are in college and we aren't using it enough to justify the work and cost. (I will be looking at another boat after college is paid for - $$$$$$).

Any ideas on how to easily put a value on it? Not trying to do any selling here - I know that is against the rules. Just trying to figure out what to do.

Serious consideration to donating it to a charity, just in the dark on value.

BTW - 1988 Chaparrel model 19' (198XL) with 305 cu. in. V8 engine. Upholstery needs some work but everything else is in pretty good shape. Goes with trailer.

Without having to go to the trouble of getting an inspector does anyone have a good guess of the value I can put on it for tax deduction?

 

[dazk14]

Re: Getting rid of boat

Here's a start.

http://www.nadaguides.com/

 

[PiratePast40]

Re: Getting rid of boat

Here's a link to the Infernal Revenue Service pub: http://www.irs.gov/pub/irs-pdf/p561.pdf

You didn't hink it was going to be easy did you?

 

[Home Cookin']

Re: Getting rid of boat

NADA for a boat that old won't tell you anything.

If you donate, your deduction is what the charity sells it for, not the value you assign.

To get a good idea, search the Craig's lists in your region of the country. Granted, every boat is different, especially as to condition, but a 23 year old I/O bowrider is a 23 year old I/O bowrider.

You have the advantage of being in a major metro area and will have more exposure to your ads when you go to sell it. You have the disadvantage of not being on the water. Once you determine a price, try selling it word of mouth, then craigslist. Just remember this simple rule: always take the first offer.

 

[Sixmark]

Re: Getting rid of boat

NADA is pretty worthless, I refer to it as "The Suckers Guide" that thing will tell you a 5 year old 150HP motor is only worth $100.

As Home Cookin said, find out what they are selling for in your area and then price it accordingly.

 

[HollaGeo]

Re: Getting rid of boat

In this economy...$1500.00 if that.

 

[jlinder]

Re: Getting rid of boat

Thanks everyone. I tried Craig's list but not much there. I will keep looking.
BTW - there is also a nice trailer. Suspect it is worth almost as much as the boat.

 

[shrew]

Re: Getting rid of boat

Try some of the online boat for sales sites:

boats.com
usedboats.com
boattrader.com

Do a search for the make, model country wide, however extend the year 2 yrs in each direction. then see what the averages are.

 

[Home Cookin']

Re: Getting rid of boat

unfortuneately, trailers no matter how nice don't bring much money. Almost every used boat comes with one so they are expected. They are so simple that there isn't much difference between a good one and an average one. The only way to recapture the trailer value if it's under a 20 year old boat is to sell it seperately, and then you kill your boat deal.

 

[jlinder]

Re: Getting rid of boat

Thanks shrew (gotta ask, how did you pick that name?). I will try those sites.
Home Cookin' - I guessed that about the trailer, but had to ask.

Considering that I was willing to give it to charity I am not looking to get full NADA value, but don't want to just give it away either.

 

[DuckHunterJon]

Re: Getting rid of boat

If you aren't in a hurry, put it up on Craigslist for a bit higher than you think it's worth. It's free, and you can always come down on price. More times than not, when I did this I got more than I thought I would. Only word of caution, don't relist it every day, dropping the price $5 at a time. Give it a month between postings, and drop it enough to garner new interest.

 

[ezmobee]

Re: Getting rid of boat

Good advice above from Jon however I would relist in less than a month's time. I know I personally don't look at ads much over 2 weeks (3 max) old because I assume they are "stale" for any number of reasons.

 

[drrpm]

Re: Getting rid of boat

Do you have an IWANTA in the Atlanta area? Its free and I've sold several vehicles through it in the Augusta area. Its only another few months until boating season down here and there will probably be more interest in it then.