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How Much Is Your Boat Worth?

How Much Is Your Boat Worth?

If you’re looking to upgrade to a new Crownline, or any boat, it’s important to understand how much your current boat is worth. Finding the true value of your boat can be a laborious process filled with frustration and misdirection, especially if you aren’t working with people you trust. Online resources can be informative and helpful but can also be misleading, particularly if your boat is a rare model or has custom upgrades.

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When getting your boat’s price evaluated, there are four main areas that need to be considered: cosmetic (the look and feel of the boat), mechanical (engine quality, engine hours, and structural integrity), build (size, age and model) and location. Boats can sell for different prices in different states, so it may be worth moving your boat to a new area to help maximize its resale value.

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To start the process, get an idea of what your boat is worth by looking at prices for the same or similar models. There are three options that are comparable to the automobile industry’s Kelley Blue Book: NADA Marine Appraisal Guide, ABOS Marine Blue Book, and BoatWizard’s SoldBoats Database. These resources estimate a boat’s value in different ways, and appraisers are likely to use each of them to form an accurate estimate. Often a boat will be given a range value. This gives you an idea of what your boat should be worth, but you won’t get a solid number until it’s evaluated by a surveyor.

Evaluation

Getting your boat evaluated can go a long way in helping you get as much as possible in the sale. An accurate appraisal gives you a better bargaining position, and it will make you aware of small fixes that could greatly increase the value. Professionally appraised boats also tend to sell faster and at a higher price.

Boat Interior

Before you get your boat appraised, you should perform some simple, cosmetic maintenance. Get the exterior washed and waxed. Buff out scratches and repair any damage to the paint. Obviously, large problems on the boat’s exterior may not be worth fixing, but small cosmetic improvements bolster your position as a seller. Make sure the interior of your boat is spotless with clean furniture, floors, instruments and storage areas. A well-cared-for boat will always sell at a higher price.

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It’s easy to get emotional over the value of your own boat, but keep a level head, equip yourself with as much information as possible, be ready to put in some work, and you’ll be rewarded for your efforts.

 

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2020-03-19T10:40:38+00:00

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