Value of a Boat

[BIGALF]

How do you really know what the value of your boat is. The book value doesn't take into consideration all the work and money I put in my boat.

 

[Bob_VT]

Re: Value of a Boat

I moved your thread

VERY hard to get back what you have invested. Yup the "book" values are skewed ........ add on's, your location and even the time of the year have a serious effect on values.

There is no clear answer. I have seen people get super boat deals and stupid boat deals

 

[Augoose]

Re: Value of a Boat

Something you can do would be to browse the internet for sales of boats similar to yours and look to see what they went for. Maybe post up your boat's specs and the good people on this forum will help you determine what its worth, or really what someone would be willing to pay for it- that's probably a better description because worth and willingness to pay are not always equivalent. As for as work and money you put in, would that work be effort to bring it back to a certain classification like "excellent condition"? If that's the case, unfortunately your investment of time and money might be gone because you are essentially un-doing the damage that someone else did. If you made the improvements above and beyond an already excellent condition, that might be a different case. I ran my boat on the nada guidelines and my purchase price actually came up pretty darn close to what the website listed.

 

[Home Cookin']

Re: Value of a Boat

after 5 years NADA is meaningless, and not much good before then, especially due to the wide market preferences by location. Like a house.

You almost never add value to a boat with your work; you only keep value from dropping. Like a house. Even adding a $800 GPS doesn't affect the used price much; it just helps it sell. The exception is something quantifiably specific like hanging a new or bigger outboard on it, but eventhat isn't a dollar-for dollar improvement.

Think of it this way: a perfectly maintained, garage-kept 15 year old Ford Focus is just a 15 year old Ford Focus and will never be any better.

 

[Cannondale]

Re: Value of a Boat

The book value doesn't take into consideration all the work and money I put in my boat.

You'll never recoup the work you've put into the boat...ever....unless your boat is exceedingly rare and desirable.

I see, time and again, sellers in CL ads spouting about how much time and money they spent on their boat and the price should reflect it.....but it never does. Case in point.....a seller in Atlanta listed a boat just like mine. Average private party sale prices for the boat range around $2200-$2500 in good shape. But, in his ad, he listed all this work he'd done on it....new impeller, new plugs, new starter, new LU lube, new bearings on the trailer's wheels, new fuel pump, all new fuel lines, and on and on. In every instance, he was listing normal maintenance items, but his original asking price of $4500 showed he was trying to recoup his work and maintenance costs.

He tried and tried to sell it....and eventually did----when he finally dropped the price down to $2500.

Point being.....when you buy a boat, do you expect to buy one in good shape? Working starter? Good bearings in the trailer's wheels? Sure you do. But do you offer the seller extra $$ simply because
a lot of maintenance and repair work was done to maintain the boat in good condition? No, you don't.

On the other hand, you sure will deduct from the asking price if the fuel pump is shot, or the impeller is shot, or the trailer bearings or tires are worn out, or the starter doesn't work or the seats are ripped up.

Essentially, all that work, time and money is just to maintain the function and value of the boat....not increase it. If you add extras, sure it increases the price. But normal maintenance and repair costs, time and labor? Just the price of boating, just like maintaining a car.

 

[rallyart]

Re: Value of a Boat

The value of a boat is how big your smile is when you're on it. Other than that, I'm afraid Bubba's answer is about it. The location and market conditions matter more than the boat condition. Any money you put into things like stereo and gadgets is worth almost nothing unless someone else has your specific taste.

 

[MTboatguy]

Re: Value of a Boat

If your trying to get back what you put in it, then restoring or upgrading a boat is probably not the game for you.. Boats are a very personal thing and everybody has a different idea of what the "best" boat for them is. As has been stated the value is what you and the buyer agrees with when you sell it.

 

[Frank Acampora]

Re: Value of a Boat

Most people have an over-inflated idea of the value of their boat. As said above, it is emotional to them. The "work and money" you have put into the boat was taken out in enjoyment.

Personally, when I look at ads for hulls, if the seller lists it as, for example, 17 feet 3 inches, I stay away. Invariably, these people want too much and will try not to budge from their asking price. A boat is and always will be 15, 16, 17, 18 etc.

 

[444]

Re: Value of a Boat

Only time all the work and money you've put into a boat really increases the value is if you bought a project boat for cheap and restored it. Then you can end up with something worth a lot more than when you started. Of course a lot of the time(not always, but often) what you've invested into it at that point is more than you could have just bought a nice finished one for and more than what you can sell the finished product for.

If you want to know what yours is worth, check the online classifieds for your area and try to get a bead on what comparable boats to yours are selling for. Boat value varies widely by location.

 

[H20Rat]

Re: Value of a Boat

Personally, when I look at ads for hulls, if the seller lists it as, for example, 17 feet 3 inches, I stay away. Invariably, these people want too much and will try not to budge from their asking price. A boat is and always will be 15, 16, 17, 18 etc.

I don't think i've ever owned a boat that was an even foot length... Almost all of mine are rated at 15.5, 16.5, 17.5.. Or 15 ft, 6 inches if you will...

 

[basscat94]

Re: Value of a Boat

problem i had with boat values was trying to insure my 94 bass cat. state farm says they have to go by the nada guide, which coincidently lists the value of my 94 johnson 150 at just a shade over 900.00 state farm says thats all i can insure it for. now i ask you, show me where you can buy a working 150 around that year model for 900 dollars. havent seen one yet.