Determining A Boat's Value Is Easy

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Determining A Boat's Value Is Easy

Boat appraisal is not for everyone but it can be done independently - just be aware of the pitfalls. An estimation of the exact value of a naval vessel could turn out to be highly inaccurate, if the right sources are not considered and if no help from an experienced appraiser (such as a yacht broker or a marine surveyor) is taken.

This is especially so if it is the first time that you have looked into evaluating a boat for the purposes of selling. Lack of experience could lead you to make one of several mistakes that can be done while trading ones craft, and so it is important to make sure that the necessary research to establish one's boats' value is not neglected.

For instance, if you are the prospective buyer of a watercraft, whether new or used, don't just pick the boat that seems to be the greatest value from the start. Learn what to look for exactly, and you will not risk being dazzled by the smooth talk of the seller but will be able to make a much more informed decision.

Research on boat value appraisal will actually not only save you money, but has the added benefit of allowing you to better pinpoint the kind of characteristics that you want your boat to have, and as a result you will end up buying a boat that will be right for you, rather than getting a flashy vessel and then finding out that you were really in need of something else.

There are several ways in which the potential value of a boat can be researched with a modicum of accuracy. The most important of course is reading about it. Several magazines and periodicals are in print and they all give information on the latest in boating trends.

There are specific publications for all kinds of craft - motor yachts, fishing boats, pontoon boats, houseboats, dinghies and sailing boats, even commercial boats such as ferries and cargo carriers. From these journals' classifieds, one can compare different makes and models and also to get an idea of depreciation over time.

Thousands of boats are bought and sold through the trades and online listing sites, and so by reading through the appropriate listings and comparing the features to your own vessel you will get a fairly accurate idea of the price that you can ask. For leisure craft there are also in-depth pricing guides - most notably BUC and NADA - that give average prices per model and build year.

NADA covers motor boats and personal watercraft, outboard motors and boat trailers from 1978 to the present year, while BUC has been around since 1961 and also covers sailing craft, including multihull craft such as catamarans. In both cases, the given price is an average value and you will have to factor in other variables such as condition, location and accessories.

In any case, bear in mind that while evaluating a boat on your own is fine for small vessels, if the watercraft in question is big and costly, you should definitely also get the appraisal of a professional as well.

About the Author

Whether you want to sell your yacht or buy a fishing pontoon, here is the place to start: BoatValueWorld.com covers all your boat evaluation needs, with tips and information. Just follow the links to find out more.