How to "value" a boat?

[Mike Langianese]

Hello everyone, I’m a wantabe boat owner and new to the forum, I have been reading some great posts regarding I/O vs Outboard (especially in salt) as well as receiving some good advice on a boat that I was considering (thumbs down). My question is that I have seen several boats advertised (from 1991-1996, Center Consoles in the –18 to 25 foot range with various power) in the $8,000-$10,000 range. I check the “boat value” from NADA (http://www.nadaguides.com/default.asp?) and BUCValue (http://www.bucvalu.com/BUCValuConsumer/register). What I found is that for boats listed with a Broker for $10,000 the NADA value is $3-$4,000 sometimes $5,000 while the BUCValue says the same boat is worth much more most times exceeding the asking price. Is there any rule of thumb? Any advice or comments?<br />Thanks,<br /><br />Mike

 

[Bondo]

Re: How to "value" a boat?

The Rule of Thumb is;<br />Boats are worth the Most in the Spring,+ the Least in the Fall.....

 

[Ralph 123]

Re: How to "value" a boat?

You can also ask what the insured value is - that is how much the insurance company thinks it's worth and part of the reason they require a survey. It is listed in the survey

 

[biloxiriver]

Re: How to "value" a boat?

As with cars and other vehicles, the sale price is whatever the local market will bear. Compare like type boat sale adds in the local papers. Check with local boat dealers, and, my favorite, have a marine surveyor look at it and you will get a more realistic local value. Also, shop out of area for like boats. It is worth driving a few hundred miles to save several hundred bucks and get a boat that maybe has no saltwater history. You can also check simple things your self, like cylinder compression (not rocket science and fairly inexpensive device), crank case oils if applicable, foot oil, general condition of wiring, visual appearance, etc. Several years ago I saved a bunch of money on a pontoon purchase by driving to north mississippi (375 mi one way) to check out and buy a boat. Well worth the trip and expenses, and was an excuse for a road trip. The only drawback is that if you are looking at a boat that has not been near saltwater the trailer will most likely be painted metal instead of galvanized or aluminum so watch that.

 

[mattttt25]

Re: How to "value" a boat?

my insurance company used the buc value. hence, if i just sunk my boat the day i got it, i would have made a profit (didn't spend near what the buc value was). i've seen the same- nada seems low, buc seems high. but good starting prices.<br /><br />my advice is to spend a few hours cruising the web. there are several great boat sales sites that have good search engines (iboats is one). after just a few hours of research and looking at a few hundred boats listed, you'll get a good feel for how much that type of boat is going for at the moment.<br /><br />good luck and enjoy-

 

[Solittle]

Re: How to "value" a boat?

Mike - I have looked for boats that the seller wanted to get out from under for one reason or another. For example my current boat has twin V4s. When I bought it one motor was frozen and the boat had been on the market for 2 years. I got a good deal even after considering the cost of rebuilding the motor. The seller wanted out and I was there.

 

[Mike Langianese]

Re: How to "value" a boat?

I am searching the net for boats along the SC, Georgia and Florida coast. I have noticed that the prices are considerable lower in some areas than others. Must be supply and demand, while I would like to have one sooner than later I can wait until the dead of winter to pick one up. I did see a 1973 Boston Whaler 22 ft Outrage advertised for around $10,000 with a Johnson 200 hp & tandem trailer, NADA says about $1,500-$2,000, BUC Value about $6,000. I just can’t get the differences in pricing. I sell real estate where the Seller is free to ask any price he wishes but ultimately the price of a home is whatever the buyer will pay, of course the seller is free to accept or reject the offer. Thanks for the input.