Knowing the worth of your boat is needed for many reasons. If you are trying to sell it, it’s a good idea to make sure you are pricing it fairly. If you are wanting to buy a used boat, you want to be assured you are paying a fair price. Also, when owning a boat it’s good to know its value due to insurance. Receiving the proper amount of coverage is important. It’s a good thing there are a lot of sources available to aid in establishing a fair price of a used boat.
The internet is full of sites that can provide information for determining a boats value. Each of these sites may establish a price based on different factors so it’s important to understand whether the price is based on depreciation or actual sales data. The depreciation method can often provide a less accurate price in the current market. ABOS and bucvalu.com are two websites that tend to give a more accurate idea by using actual sales data that is up-to-date. Marine dealerships or boat clubs in your area are sometimes willing to provide you with data from these online tool if they already have a subscription. Be confident their user agreement of the subscription allows them to share that information.
Comparing a variety of similar boats will be a key factor in determining its worth. Be sure to search within a 200 mile radius of your current boat to ensure you are getting comparable prices. Values change depending on location and the type of waterway the vessel frequents. Searching with the proper information is key to establishing the proper value.
If you are selling your boat, make sure to keep it as clean as possible in order to make it more desirable to buyers. Presentation is everything, and even though it may not affect the value, it is sure to make a good impression when someone is looking to buy it.
People are sometimes likely to use the same agent who insures their other property when looking to value their boat for insurance reasons. The problem, however, is that those agents that insure your home or vehicle, may not know how to correctly provide you with boat insurance. It may be a better idea to go with an agent that specializes in boat insurance and who has the means to the right tools. Boat clubs and dealerships use specific tools when they determine the value of a boat, so a specialty agent will most likely have access to those same tools. Therefore, the information you will be provided is more likely to be accurate. Making sure to obtain correct information is necessary and the proper insurance agent is vital in doing so.
How to Find the Value of a Boat Online
Buying or selling a boat can be made easier buying knowing how to find the proper value. Using online tools to help determine what the boat is worth can ensure you don’t settle for a deal that is right for your budget.
American Boating has a website that is simple to use.
Enter your zip code (or country), manufacturer, type of boat or equipment, make and year to display the correct item you are trying to value.
Choose the correct model and a list of available options and equipment will appear.
Select all that apply as this majorly effects the value of your boat. The boat manual should help you determine the proper items on this list.
After entering all the necessary information you will be led to a “Get Used Value” tab.
Click on it to get the price and also a low/average retail price.
You can always begin again by selecting “Get Another Price” and starting the process over with new information.