What is the best way to determine the value of a boat?

I am in the market for a used boat and I am looking for advice on determining fair value. I have been using nada guides a lot. I find even with all the options you can check in correlation to the boat I?m looking at, the nada ?value? is 50% to 75% for the asking price. Obviously things are normally priced with some room to negotiate, but making up 25% to 50% is a large delta to overcome. Are there better tools to utlize?

Re: What is the best way to determine the value of a boat?

Ask your insurance agent what it will be worth if it is destroyed. Make sure you don't pay a penny more than that.

It would help to know the age and type of boat s you are considering, and what price range you are shopping.

In todays market, most boats are priced several thousand dollars on EITHER side of nada prices.

Re: What is the best way to determine the value of a boat?

Man a used boat is really worth what someone is willing to pay.. I see boats all the time on CL that are way over priced( I know they sell).. Lots of folks think they are standing on a goldmine.. Most of the time in the beginning of spring they are...Some sucker out there will pay too much for it so he can go boating this Summer..
I like the value put in the previous post.. Not a penny more than what your insurance will replace it for

NADA I think is also without a trailer... You have to consider that too

Re: What is the best way to determine the value of a boat?

When you buy a boat, unless it is a specialty craft, such as rare, highly sought after, antique, or serious racing boat, ect, it's worth whatever it's worth to you. I know that may not help very much, and I'm not trying to be difficult nor sarcastic. You really can't go by any guidelines other than condition (internal and external), and quality of maintainance throughout it's life. When it comes to monetary value, a boat is not an investment. It's an expense. It's an ongoing, high dollar expense. It is, however, a priceless investment in happiness, satisfaction, enjoyment, pleasure, and sheer and utter fulfillment. You simply can't put a dollar value on this.

What guidance I can give you is this... Post pictures and details of various boats you're thinking about. Plenty of members will be happy to offer their opinions and reasons for them. Ask for clarification anywhere you don't fully grasp the reasoning. After a while, you'll have a good understanding of what your looking at, what to look for, and how to find it.

I would also suggest reading through the restoration forum. Look at what other members do, and how and why they do what they're doing. You'll find plenty of restorations which occured because of unforseen circumstances with a purchase. This will further your education regarding what to look for, expect, and rule out. Don't limit your search through restorations to "bought a broke boat and now I gotta fix it". Look at all types of restorations and you'll begin to develop an eye for what to look for in a boat, and how it all adds up to what a boat is worth to you.

Re: What is the best way to determine the value of a boat?

The biggest consideration in a used boat is the motor, then the hull, motors being the biggest expense, hull damage 2nd, what insurers will pay is based on age and replacement cost, fair market value will often have your boat "totaled" rather than repaired, 2nd, if the boat is older than 9 years,then there value can put it lower than worth, example - i have a 1969 Mako 19', with a 1987 DT150 Suzuki, on paper its only worth $1000. but i completely rebuilt the boat,motor too,everything is new but for the outer hull, she was re-built using the best of the best, i have over 6K just in parts and materials...but for insured value..3K is tops. so when looking, pay close attention to the propulsion system,then deck and hull damage..when you find what you want, look at similar boats and what they sold for..then get a complete survey..then make an offer.Most balk at the cost of a survey, consider this..pay 3-4 hundred now..or 3-4k later, all the while kicking yourself for not doing it.

Re: What is the best way to determine the value of a boat?

Everyone here is giving very good advice very accurate. I will say in addition to what has been said is that you should look nationwide for the two or three boats that catch your eye and that should give you a general idea of what to look for in your area but understand that your area will be somewhat different depending on the boats available, The dealers available and a few other factors so you will have to adjust for your market. Also if you are like me your looking for that owner that worships his boat, he washes it weekly, checks fluids constantly and for no better term is anal about his boat. You will pay a premium for it but when looking at used boats thats your guy!!

Re: What is the best way to determine the value of a boat?

Again, worth is only what someone is willing to pay, as is a "good deal" is also in the eye of the beholder!

Fair market value? I would watch local adds such as craigslist, ebay, boats.oodle.com and other online sites that deal in used boats. That to me would be the most accurate way to find where the market is. Besides, it's fun and doesn't cost you anything to look! Also by local I mean it as how far are you willing to drive! Anything farther than that is not local and would be considered a different market. Example, a boat found around the Great Lakes may cost more than the same boat in say the middle of Iowa.

Re: What is the best way to determine the value of a boat?

bonz_d said:

Again, worth is only what someone is willing to pay, as is a "good deal" is also in the eye of the beholder!

Fair market value? I would watch local adds such as craigslist, ebay, boats.oodle.com and other online sites that deal in used boats. That to me would be the most accurate way to find where the market is. Besides, it's fun and doesn't cost you anything to look! Also by local I mean it as how far are you willing to drive! Anything farther than that is not local and would be considered a different market. Example, a boat found around the Great Lakes may cost more than the same boat in say the middle of Iowa.

Click to expand...

+1. Comps comps and more comps. Only realistic way to do it.