How Long Do Boats Hold Their Value
- Posted by:
- Boat depreciation, Used boat value, Brand depreciation, Condition and location, Types of boats depreciating least
- Posted date:
Are you asking: How long do boats hold their value? Explore factors influencing boat depreciation and resale worth. Learn about maintenance, market trends, and expert insights on how different types of boats retain their value over time. Cetec Marine Ltd is a trusted marine surveyor working throughout Kent, Sussex, Hampshire, Berkshire and Greater London. Make informed decisions when buying or selling a boat with this comprehensive guide.
Do Boats Hold Their Value?
Boats are much like cars and other similar electronics. Once someone has taken possession of them, they gradually lose a percentage of their value, from 10% to 15%, to even more depending on their condition.
On the other hand, not all boats are valued the same, and some brands depreciate faster than others. Here is a short guide on the resale value of your vessels.
Depreciation On A New Boat
When assessing the depreciation of a brand-new boat, it's best to look closely at two popular, attainable boat manufacturers.
Those that are more budget-minded may be interested in Bayliner boats; however, for those that seek out more premium vessels, you may wish to opt for Crownline. To ensure the comparison of these two isn't skewed in any way, we have left out any trailers that may have added to the price or performance.
Both of these manufacturers are known worldwide for building fantastic boats, yet they each have various levels of pricing when it comes to new boats.
Each is quite comparable in engine horsepower and size, especially if we consider the 215 series of bowriders. From such research conducted, we can see that many perceive that if you purchase a boat of a higher quality and price, it will retain its value better.
There may be a few variables that allow such to be true, yet this isn't the case for every new boat available. There is an extensive rate of depreciation for many new boats after they reach the 14-year mark.
Many that develop boats, and other vehicle assets tend to imply that the moment they are bought they begin to depreciate in price.
What Affects the Price of a Used Boat?
What boat brands depreciate the least?
Some of the most popular brands available are known to depreciate over time; however, the more respected, popular brands will do so the least. Here is a comprehensive list of the boat brands that are known to depreciate the least as time passes:
If you ensure that your boat isn't an off-brand version of the original manufacturer, that way, it won't depreciate as much compared to the common depreciation average. However, if you have a boat of a lesser-known brand, such as Grady-White and Boston Whaler, etc., then their standing price will decrease significantly less. You want to keep up regular maintenance on your boat so that you can keep the value of your vessel as high as possible as time passes.
What types of boats depreciate the least?
Much like the brands themselves, there are particular boat types that are known to depreciate in cost compared to others. Below you'll find a thorough list of the various boat types starting with the least likely to depreciate in price, and ending at the ones that depreciate the most.
If you are looking for pre purchase yacht 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 Pre-Purchase Survey Berkshire