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Thread: appraisal vs market value on boats

  1. #1
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    Default appraisal vs market value on boats

    I was wondering what the general opinion on price would be for a 1995 21ft hewescraft riverunner with an inboard 350 chevy jet, with a 3 stage hamilton. The boat shows wear but not badly and had a rebuild/ new top in 05. I will go get an appraisal done on it, but i was wondering how much the economy is effecting the true boat values. I know the boat is nice just for being a river/ good weather ocean boat allowing the owner alot more versatile use of it. Anyways if you have an opinion i would like to hear it.. Thanks.

  2. #2

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    Most of the time, boats don't sell for near appraisal value. I think it is more for financing and insurance purposes anyways.

  3. #3
    Moderator LuJon's Avatar
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    yep, mine cost me 12K and appraised for 17.

  4. #4
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    Default It depends

    Just got a used 2000 Trophy 2359. I've been looking for a fishing boat like that in the low 30's for over a year now up here in Anchorage. It has 220 hours on it and is in excellent shape... and has all the electronics already on it like radar. We got it appraised (cost $400) and the appraised value was actually about 1,000 less than what we paid. So we paid more than the appraised value... but like I told my wife, just try to find a boat like that with cuddy in great shape here in Alaska for under 40,000. Good luck. Or go new and pay 70,000 and still need to get electronics. So I think it does depend on the boat. I think the 22-26 ft ocean boat with cuddy in great shape in the 30's to 40's range are hard to come by used in Alaska and can easily sell for over appraisal value in my opinion.

    FYI. Alaska USA required a boat appraisal on any boat over 7 years old and only financed 85% of the appraised value. We got 7%. Not bad.

  5. #5
    Member chico99645's Avatar
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    I'm not sure on an appraisal but the NADA and KBB are not even close. I just sold a boat and NADA and KBB had it at 13,000 and I got 17500 without so much as an arguement. Then again, I had some upgrades that were not mentioned in KBB or NADA and the boat was in awesome condition.

  6. #6
    Member DMan's Avatar
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    Appraisals seem to inflate the higher the cost is. I know of boats under 40K that have sold for over appraisal and some within 2K of appraisal. Seems like once the price starts growing from there the delta between the two seems to start increasing. Where a boat that appraises for 100K might sell for 90K a boat that appraises for 280K might sell for 230K.

    I think allot of it depends on the type of boat and the demand for that specific boat as well.
    ... aboard the 'Memory Maker' Making Memories one Wave at a Time!

  7. #7
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    Default Comparison

    I bought a 21' Hewescraft with twin 70hp Yamaha 2strks, hard top and single axle trailer brand new from Deweys in 1998 for $23,500. Sold it 7 years later for $18,500, and had tons of interest and that was in December and January.
    I would pay a larger price for someone who can show me how they did the maintenance on the motors, boat and trailer and compare it to how the boat looks. With the amount of cost for shipping to AK, blue book values sometimes don't reflect the market here.

  8. #8
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    Well i am thinking about selling my 21 ft hewescraft and buying a searunner 220 with a 115 or 150 on it. I am looking at several boats right now and just barely missed out on one hell of a deal. There was a 2004 or 2005 (can't remember) 26 ft hewes alaskan with twin 115's for sale for 55k. I was all over that one, but one phone call too late as it turned out. I really am wondering what i could expect to get out of my boat to know how much the "boss" will let me take out of the savings. I was thinking of putting 20k down on something around 40k and financing the rest to bring the payment down a ways. How long do the banks normally let someone finance a 4 y/o boat for? If i have to pay for the whole thing in cash i will, but that will upset the saving protector....lol

    David

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