How Do You Find Out What A Boat Is Worth
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- Boat value determination, Pricing a boat for sale, Factors affecting boat price, Boat class, model, and brand, Condition, age, and location impact on boat value
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This article looks at how you find out what a boat is worth. Cetec Marine Ltd provide boat valuations throughout Surrey, Kent, Sussex, Hampshire, Berkshire and Greater London. We look at how to determine a boat’s value and what factors affect the price of a boat.
How to Determine A Boat’s Value
There are many reasons to part ways with a beloved vessel. You might be upgrading to a newer model or handing up your sailing hat to spend more time on solid ground. But whatever your reasons, the one question you'll want answers to is what's the best price you can get for your boat?
First things first, we'll take a look at how to estimate the value of your boat.
How to price a boat for sale
Some of the steps in selling a boat are fairly simple. Ensuring that it is clean, tidy and attractive for potential buyers is easy to understand and do (if a little time-consuming). However, it's valuing a boat that most people tend to struggle with.
Choosing a fair starting price will give you the best chance of successfully selling your boat. But it's easier said than done. There are numerous factors to consider when valuing your boat and any one of these will determine what a fair price might be.
However, given that it's such a difficult thing to do, this does give you an advantage. Many second-hand boats will be dramatically overvalued, meaning if you can determine a fair price, you're more likely to sell. One trap many boat owners fall into is looking at historical trends to work out the value of their boats.
For example, it's wrong to assume your boat will have maintained or increased in value over time. Boats aren't like real estate, where you can expect to get back more than you initially put in. However, boats also don't depreciate as quickly as cars do, they sit somewhere in the middle.
You also need to think about what's happening in the second-hand market. For example, while there used to be a big demand for boats built during the 70s and 80s, this trend has disappeared in recent years. Today, these classic boats are seen as too cramped and impractical by modern owners. These older boats also tend to cost more in mooring fees due to the amount of space they take up.
You need to consider all of these factors when valuing your boat to sell. It may sound confusing, but the rest of this article will take you through some of the key factors to consider when valuing your boat.
What factors affect the price of a boat?
The main factor determining the value of a boat is whether it is brand new or second-hand. While boats don't depreciate as quickly as cars, their value still drops once they've had a previous owner. However, there are some common factors that both new and used boats share when it comes to value.
These include the following:
How can I know the value of a boat?
One of the best ways to know how much your boat is worth is through online price guides. Here you'll find listings for thousands of boats that you can compare with yours. Second-hand listings might also be helpful if you can find ones for boats that are similar to yours.
If you are looking for boat valuations or marine surveys in Surrey and the surrounding areas contact our professional boat surveyor today.
We work throughout Surrey and the surrounding areas including Kent, Sussex, Hampshire, Berkshire and Greater London.
We can also travel throughout the UK if required.Boat Valuations Kent