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Determining boat value in current market Re insurance and other

BruceK

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How does one go about determining the value of a boat in today's market. My Formula is an uncommon boat and I had it valued a few years ago. What sort of percentage creep has there been? Should I increase it's valuation for insurance purposes? When I do a universal search on the used boat market for what I have insured it for I get 20 year old boats in the 26-28 foot range and tired 40 year old boats in the 40 foot range and nothing in the sports cruiser 34 foot range. When I look at similar more familiar boats like the Sealine S34 and Sunseekers of that era my boat belongs I'm getting results of boats that appear to be as much as 20% over what I would have expected them to go for. Is that how much the prices have crept up?
 

Mr Googler

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A superhawk 34 sold last year for £65K

Same model, slightly younger by a year went for £115k this year
 

BruceK

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Blimey!! At that increase I'd sell tomorrow ! Make that today!!

Now the conundrum. .... insurance. What does one insure a boat for.
 

Greg2

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24 Jun 2002
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I have found that insurance companies have been happy to insure for the price paid as the value but not so keen to go higher without justification / evidence. Not sure how they would be in current market conditions but that raises an interesting question because many don’t actually do an agreed value but go for market value instead. It works in their favour in normal times but perhaps not the case now.
 

Mr Googler

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I needed survey with valuation to get the insurance company to increase the value on a previous boat.

The surveyor asked me what I would sell it for and that became the value 😂😂😂
 

Jamie Dundee

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24 Jul 2019
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My current insurer won’t insure above the purchase price, plus new electronics etc. Given the recent rise in used boat prices I’ll be casting around for a different deal this year.
 

Bouba

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6 Sep 2016
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I needed survey with valuation to get the insurance company to increase the value on a previous boat.

The surveyor asked me what I would sell it for and that became the value 😂😂😂
You didn’t include your labour did you?
 

BruceK

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8 Feb 2015
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Conwy
I needed survey with valuation to get the insurance company to increase the value on a previous boat.

The surveyor asked me what I would sell it for and that became the value 😂😂😂

Same here but that was a few years back after the refit. He based the price on the Targa 35 of similar vintage. They are both very similar
 

BruceK

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I was told that you are missing at sea presumed lost
I was in hiding protecting what was left of my funbox after so called mates nearly ran it dry within the first week. So called mates that is. More like a bunch of freeloading pirates!
 

Bouba

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I was in hiding protecting what was left of my funbox after so called mates nearly ran it dry within the first week. So called mates that is. More like a bunch of freeloading pirates!
So, not so much a cruise, more like witness protection
 
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