There are people who treat parting with a boat for sale as a very emotional experience. For them, it’s a hard decision to make. But of course, when you determine a good price for your boat, your emotions should have nothing to do with it. Set aside your sentiments and assess the boat properly before you dispose of it. That way you won’t feel regrets or doubts that you have not sold it at a proper price. So to help you determine the fair price for your boat, there is a guide that can assist you in doing so with as less frustration as possible. Before you make any move to put up your boat for sale, you must first get hold of the NADA boats value.
It is the blue book that’s dedicated to watercrafts that potential buyers and sellers refer to for prices and banks too, especially if they’re considering giving a loan to clients who plan to buy a boat. Bear in mind though that the NADA doesn’t account for a boat’s overall condition. This applies to accoutrements or additions to a boat that are not included in their original value.
But the NADA is a good starting point for determining your boat’s selling price. You will be given with the low and high values of the boat that you want, and if it is still in mint condition, or that it is spotless even after some time of use, its reselling price would be higher. If the boat concerned has some damage, then, of course, the price would be lower during the bidding after it’s evaluated properly.
You could start your search for a good boat by looking for one with a similar make, age, or model as your own choice. They are available all over the internet in various boat-selling websites. You can start with boattrader.com, iboats.com., and yachtworld.com so you can compare prices. You can look at all of their adds, but if you can find good boats similar to what you have in mind within or around your geographical location, then it is advisable to stick to them for a start.
The kind of water where the boat was kept in also affects its value. For instance, salt water is harsher on the boat’s make than fresh or brackish water. Even if you intend to use your boat in freshwater but you know very well that in its past lifetime, it was used in brine, then its value should be lower than the average price of a secondhand boat. The repairs which the boat amounted until it was sold once more also affect the selling price.
No buyer would want to invest on a boat that is almost derelict or puts to good use for a long time already. Bear in mind that it may take some time to sell a boat that doesn’t possess a working engine, is in need of a new transmission or bellows, and other essentials. Of course, as a buyer, you deserve the peace of mind with the money you spend for such an investment by getting a boat that’s in good condition and in its prime. If you don’t have any idea on how to find a good boat, hiring a professional appraiser to do this task for you is a must. The appraiser or surveyor shall assess all aspects of the boat, including all the needed paperwork. But you won’t always need to hire a surveyor if you know your terms. Most consumers would hire them only to protect their own interests.
As for the extras, you might want to take note of them. For instance, if the boat that you want is equipped with a GPS system for navigation, plus it’s in sound condition and is still good enough for say, another decade, then a fair price would suffice. If you’re a seller and you provide these enhancements for the boat before you put it up for sale, and say, life jackets are complete, cabin fittings are intact, flairs well stocked-up, and other provisions are complete, then you can jock up the price to a higher yet reasonable value.
If you have plans to sell a boat that you don’t want to use anymore, then you can earn well from it by enhancing and reinforcing the quality of the boat for whoever would purchase it. To decide on the price of your boat, you may have to research on its current market value. NADA has updated boat value guides that you can choose from in order to get your price right. Try to research comparable prices for boats in your area.
Those towns or cities that are near bodies of water usually have higher boat selling prices. Seasons may also affect the price of boats, they are more expensive during outdoor seasons, say spring or summer. It is imperative that you price or choose your boat competitively. They may vary according to geographic location, market trends, etc, but once you get one that gives you the best value for your money, you’ll never have to worry about being charged with overpricing.