Boat Appraisal: How to Price a Boat for Sale

Boat Appraisal: How to Price a Boat for Sale
November 12 12:55 2018 Print This Article

Make the right call on your boat evaluation, and you’ll be surprised at how fast you’ll sell your boat. Choosing the right price can make or break the sale of your boat, yet many people find it difficult to place the right price tag on their used boat hence the delay in getting their boat off the market. If you struggle with setting the right price, boat appraisal can help you. Some of the factors that determine the price of a boat include tidy condition, looks, and attractive adverts.

Boats can stay on the market for an extended period until the right buyers who recognize the value of the equipment and the knowledge and time invested in maintaining the boat. Sadly, there are many vendors who place a high price tag on fairly used boats. In rare cases, some vendors undervalue them. One big mistake most people make is to use historical trends to determine the current market value of your boat. Fortunately, boats generally have a history of maintaining their cash value – while they don’t appreciate just like real estate, they also don’t depreciate in the way that cars do.

Additionally, in recent years the demand for the many boats built in the 1980s has reduced significantly. Modern buyers take priority in their comfort hence they give little regards to boats built in the early days since they offer accommodation that’s simply too cramped for comfort. Larger yachts, on the other hand, are a bit on the high side hence the reason for the low demand.

Determining the Asking Price

Boat appraisal takes into account the asking price of boats with similar features as yours. One thing you should know is that – a well-appraised boat don’t stay on the market for longer, whereas those that are overpriced spend years without a buyer making an inquiry. Therefore, a disproportionate number of ads you see online are for optimistically priced boats.

Comparing the asking prices of similar boats will go a long way in helping you reach the right value for your boat, but competitively priced boats tend to be underrepresented. This is why it’s important that you hire an expert for boat appraisal. To know the real market value of your vessel, boat appraisal comes is a necessity.

Tips to Increase Your Boat’s Value

There are many ways to increase the value of your boat. Proper care and maintenance is key to getting more bucks when you list your boat in the market. Here are some useful tips to consider.

  • Save all maintenance records. Many times, buyers request maintenance record to determine the efficiency and functionality of the boat. A properly maintained used boat will cost more
  • Wash and polish at least once a season. This gives it a refreshing look at all times.
  • Protect the exterior of your boat by covering it when not in use and especially during the cold winter months
  • Follow manufactures instructions for maintenance schedules.
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