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Thread: How to find value of used boat?

  1. #1
    Join Date
    Jun 2006

    Default How to find value of used boat?

    I have been looking at used boats, but don't know how to find the current market value of a used boat. I tried doing the nada value, but after going back to the boat owner with the nada value I got he told me that the nada web page doesn't list the options of things on his boat like "head with macerator" or "shower" or "windshield wipers". He also stated the NADA is more for lower 48 prices.

    Anyway, my question is how DO I find the fair market value of a used boat. I don't want to get a boat that's 5,000 to 10,000 bucks over value and take a huge hit it I decide to sell it myself in a few years.

  2. #2
    Member DMan's Avatar
    Join Date
    Oct 2006
    Wasilla, AK


    Marine appraisal is your only real way to find out the market value of the boat. The bank requires this as well if you want to loan more than the NADA value. When I sold my Hewescraft the NADA value was 34K and the Marine Appraisal was just under 50K.
    ... aboard the 'Memory Maker' Making Memories one Wave at a Time!

  3. #3
    Member MARV1's Avatar
    Join Date
    Jul 2006


    Shop north of Anchorage as you'll find them more reasonably priced compared to further south as they don't think the term used doesn't exist.
    The emphasis is on accuracy, not power!

  4. #4
    Join Date
    Apr 2006

    Default Only one way to know

    There's really only ONE way to know...

    You gotta know the market or know someone who does.

    I'd highly recommend start by shopping new. Go look at boats similar to what interest you. Have the salesmen do their thing and tell you about why their boat is best. Look at what you get for what you pay. Shop competitively by going to as many dealers as possible. You'll quickly learn the lingo, learn what's out there... Boat shows are great one stop shopping...

    Then price out what it would take to outfit a new rig to compare to the "package deals" that are out there. Ya that means you'll have to shop the used market as well.

    Shop the package deals and see what's out there. You'll get a feel for what is packages of junk and what might be a deal. The longer you shop the wiser you'll become.

    I also believe that if you're spending money on a boat for anything more than lake cruising a marine survey and a mechanic's inspection are both critical. Depending on the total amount you plan to spend, $100-200 per inspection is cheap insurance. I'd recommend LOTS of shopping, figure out what's out there. I looked at a dozen boats before I ever got serious enough to have one hauled in for inspection.

    Several years ago I was ready to pull the trigger on a boat that I'd found. The motor was a "bit suspect" but things seemed reasonable. I figured I could get a few years out of her and then re-power. The mechanics inspection proved the motor was completely shot. The mechanic proved my above point by suggesting he would run the boat on a lake but only if he had someone to tow it back in. The idea of running a river or the ocean - FORGET ABOUT IT!!!!

    I passed and have never been more thankful.

    Good luck!

  5. #5
    Member Alaska Gray's Avatar
    Join Date
    Apr 2006
    Anchorage, Alaska, United States


    From what I was told. Boats will loose about 3% of value a year. So you can do the math. Then take in to count the condition of the boat.
    Living the Alaskan Dream
    Gary Keller
    Anchorage, AK


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