How the heck do you price up a boat?

[ontheplane]

Hi,

I have posted a couple of times about a couple of boats....

Is there a rule of thumb about how you can work out the value of a used boat bearing in mind the lack of Parkers price guides etc etc...

I once heard that you take the cost new, take of 25% for the first year, then knock 10% off per year after that.......

But this clearly doesn't work, as boats that are about 10 years old should be only worth about 30% of their new cost.... and we all know that a 10K boat 10 yrs ago is probably worth more than £2900 now......

Indeed as boats get to a certain age they don't really seem to depreciate at all...

Any ideas???

Kind Regards,

Grant

<hr width=100% size=1>Why can't we work 2 days a week and boat the other 5????

 

[Deleted User YDKXO]

Its not difficult!

I dont think its particularly helpful to think in terms of so many % per year depreciation as different boats depreciate at very different rates depending on their popularity eg a 40' petrol powered Bayliner is really going to fall out of bed compared to a 40' diesel Fairline Targa
The only way to price a boat is to compare it against others of the same type and age on the market. This is easy on sites like this one and Boats and Yachts for Sale. If you want to sell your boat quickly you'll have to price it at the bottom of the market for it's year. Dealers tend to price their stock boats at the high end of the market but they will probably offer a warranty.
After about 5-7 yrs, it is true that most popular makes of boat stop depreciating in terms of asking price but then condition is the main determinant of price. If you've got a minter, you'll get close to your asking price but if your boat needs engine rebuilds and is riddled with osmosis, then any sensible buyer will deduct the repair costs from your asking price

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[Born_Free]

There's no magic formula for pricing second hand boats. They're worth what the buyer will pay for them, and the variables at arriving at a selling price are almost endless; age, condition, equipment levels, builder, model reputation etc. When you're buying, make comparisons with the same model/year as a guide, and when you find what you like, haggle until you arrive at a price you are prepared to pay. And when the deal is done, remember you just bought a hole in the ocean into which you will pour money. Great isn't it! Go on join the club.

<hr width=100% size=1>I have nothing to declare, except my genius
(Sorry Oscar)

 

[gjgm]

think the % is a good starting point, and works ok-ish out to 5 years max . But there are so many other considerations, including the cost of new, exchange rates etc that dont have anything to do with the "boat" itself. Problem with pricing in line with other boats is that those boats are still for sale. What is harder/impossible to find out is what the boats are selling for. And that, as someone else said, is what its worth to the buyer/seller. The longer the seller has had the boat for sale, the less emotional interest he has in it. The buyer has all the choices, the seller might have one possible buyer. Not hard to see who owns the thumbscrews.

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