Determining the value of a Used Boat

[Gregoire]

I am shopping for a used boat, and am having trouble determining fair market value for boats. Does anyone know a god website to use that will have an accurate value. I have been using the NADA site, but it seems to give values that are significantly under what people are asking.

[bushart]

I am shopping for a used boat, and am having trouble determining fair market value for boats. Does anyone know a god website

 

 

I was gonna say somethin bout lookin for boats in the Bible----but later

 

price a new model of what your looking at and make your own comparisons---determine if the value is there

[mattaw]

I am shopping for a used boat, and am having trouble determining fair market value for boats. Does anyone know a god website to use that will have an accurate value. I have been using the NADA site, but it seems to give values that are significantly under what people are asking.

 

I take the age, current price, hours on motor and age of what's on the boat into consideration. You never know until you look under the hood too. If you buy a used boat, my rule of thumb would be prepare to spend more than that, you'll want to add toys or customize things to the way YOU want it.

[BillM]

Find a bunch of similar boats, look at the prices and that should give you a good baseline..

[Paudash]

hard to say, boats can look the same but if the guy kept it in his drive way and used it 4 times a year it could be a good deal compared the the same boat that was kept at the cottage and the kids used it for skiing as well as fishing. They look the same but that cottage motor has allot more use. The only advise I can give being a cottage owner, buy a city boat.

[Old Ironmaker]

All good suggestions. I looked at what the same rig was new, what the same model was going for. I wouldn't compare a Lund to the brand they sell out of Bass Pro shop. No comparison. Yes I know there is someone here that's going to argue with me that has one and paid 30K less than the Lund brand new, please I'm too tired

 

Aftermarket products such as electronics add value but estimate 30% of that unit when new, no more. How much would you pay for a used battery without a warranty?

Some guys want to get back what they put into a boat, not happening.

 

If used get her on the water and check everything, pull the plug while on an angle on the ramp, best thing I did when shopping. A great looking Lund from a dealer was cracked stem to stern. If a dealer is offering a warranty on the engine insist on a warranty for leakage. My dealer said "why do you think it will leak?" well if you are sure it doesn't prove it and give me a 1 month leak warranty, I'll know by then for sure, he did, the boat had a crack stem to stern. He wasn't trying to burn me, he didn't know. I believe him and still deal with them, Proctors in Simcoe, check them out as well.

 

If the person was serious about maintenance they kept every bill for everything. I keep the receipts for fogging spray and gear oil to prove I winterized it properly.

 

I've seen cottage boats that look used run like a clock, and a 2 year old 4 use a year boat that was never properly maintained. The guy didn't know what a fuel stabilizer was, never knew to add it, first time boat owner. Something to beware of also, a first time boat owner selling unless it has been dealer maintained with proof. It's easy to say well maintained, show me.

 

Shop till you drop. Good luck.

Edited July 10, 2014 by Old Ironmaker

[Consigliere]

The motor is the key to a used boat. The rest of the boat, trailer isn't really worth too much.

 

If it is newer, properly maintained the boat is worth a decent amount. If it's not, the boat and trailer etc aren't worth much.