A Couple Of Additional Things To Consider
Emotional pricing
Sometimes owners put so much money and hard work into a boat that they value the boat higher than the market does. It takes time and a few offers to wear down the emotional seller to a more rational price point.
Sometimes, the seller sets an idealistic price and wont budge because they dont really want to sell. We have encountered this a few times and we move on to the next boat.
Emotional buying
The corollary to emotional pricing is emotional buying.
Sometimes we fall in love with a boat something about the interior layout or the lines or the color of the hull, even the name can have a profound influence.
We cant help but let our emotions into the decision-making process, but we have found that they should be reserved for the final decision. To minimize our emotions, we try to quantify everything in terms of numbers and put it in an excel sheet.
A final note: Determining used boat values is more art than science. Take all of this with a grain of salt and USE YOUR JUDGMENT! The calculator and recommendations above are in no way meant to be a substitute for professional advice.
As Publilius Syrus wrote: Something is only worth what someone is willing to pay for it. Good luck and happy boat buying!
Kelly Boat Blue Book True Worth Of A Boat
Now, many of you would have this question in mind that on what basis does Kelly Boat Blue Book indicate the true worth of a boat? So, there are a lot of factors that play a crucial role in deciding the actual worth of a boat. The boat value is set depending on the manufacturing year, the model, and also the brand. A bunch of other factors like the present working condition of the boat and the mileage is also taken into account. Kelly Boat Blue Book also allows the customers to use the free calculator to find the price of the boat.
What Is The Blue Book Value For Outboard Motors
The Blue Book value for an outboard motor is available in an ABOS guide or by checking the value on the Nadaguides website. The Blue Book value varies depending on the make, model and condition of the outboard motor.
ABOS Marine Blue Book offers the option to purchase a print guide, a CD, a data extract or online access to determine the outboard motors value. Nadaguides is free to use. The values are organized by categories of marine watercraft and outboard motors, and are separated by zip code. Select the Outboard Motors category and the manufacturer, make and model of the motor. The site displays the retail price and the low and high list prices for the outboard motor.
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Step : Estimate What It Will Cost To Get The Boat To Fair Condition
When we go to inspect a boat, we write down any projects and repairs that will need to be done .
Our goal is to list all the boat systems that need work and any parts that should be repaired or replaced. If youre not experienced with boat systems and mechanics, hire a professional or bring a friend who is.
Next, we assign a material and labor cost to each project.
In general, we dont add normal maintenance costs because that would skew the value and be unfair to the seller. The exception is if the seller hasnt been maintaining the boat and we would be playing catch up.
We add all of the repair costs to the list price for a total . We often multiply the repair costs by 1.25 as weve found we are usually optimistic about price and time.
Its also a good idea to ask the owner what theyll be taking off the boat. Sometimes owners will want to exclude electronics or outboard motors from the sale, which can amount to a fair chunk of change.
Example:
Upon inspecting the Dufour 35 I discover there is some work to be done! The GPS doesnt work , the mainsail is wrecked beyond repair and the furler needs to be replaced . Ill have to spend at least $6,000 fixing up the boat, which I multiply by a factor of 1.25 . So, I estimate it will be $7,500 to get the boat into fair condition.
Boat Values And Pricing Guide
Valuing a boat depends on numerous factors, but in the end its part science, part art and part personal taste. When selling a boat, sellers will often ask, How much is my boat worth? and buyers in turn frequently wonder, Will I overpay for my boat? Of course the final price hinges on both the buyers affinity for the vessel and the sellers proclivity for making a deal. In this guide we will provide a detailed overview of boat values to help you better estimate the proper price of a vessel.
The process of researching, valuing and pricing a used boat is vital for both sellers and buyers in order to make sure both parties have an accurate view of the proper boat value.
It can be said that the process of pricing a boat broadly resembles that of valuing a home or used car. Remember the old saying, location, location, location! As with homes, location may indeed play a big role in a specific boats value as well. For example, a deep sea offshore fishing boat with a large draft and wide beam may not be as desirable in an inland region where shallow bodies of water are the only boating destinations nearby and buyers would prefer a trailerable boat. Similarly, a car with high mileage depreciates in value the same way a boat with high engine hours loses value.
Lets take a closer look at new boat prices from dealers, versus pre-owned boat prices from individual private sellers and/or brokers.
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New And Used Car Fair Purchase Price
Buying a car can be stressful. It helps to have a trusted pricing source on your side. The Kelley Blue Book®Price Advisor shows you what you should pay for a new or used car based on what others have paid in your area. And how can you be sure you’re getting good deal? Aim for the Kelley Blue Book Fair Purchase Price and Fair Market Range as your target price.
What Can Increase A Boats Value
Good cosmetics and visual appeal always add value or at least they get the boat noticed by a potential buyer. A washed, waxed and covered vessel shows it has had good care and that raises the perceived value. Upgrades and easy add-ons can also increase the value of the boat accessories such as a nice new Bimini cover, custom storage cover, handrails, solar panels, trolling motor, electric windlass, new fenders, new lines, fresh anchors, etc.
Good cosmetics and visual appeal always add value and help the vessel get noticed by interested boat buyers.
A well-documented history and maintenance records help immensely. Regular upkeep, proper winterization and frequent oil changes all show that a vessel hasnt been neglected and the boat will command a higher price perhaps 10% 20% over the listed average.
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Compare Between A Used Boat And A New Boat
Before going out to purchase a boat, make it clear that whether you want a new one or a used one. The value of the boat starts depreciating as soon as you take the boat out from the dealers shop. You can purchase a new boat within the same budget depending on availability. It will cost you slightly more but purchasing anew boat has its own benefits. Purchasing a boat involves major economic commitments. There is no better method to get an insight into purchasing the best suitable boat for your usage.
How Can You Get An Accurate Boat Value
While online sources can give you a general estimate, boat values vary widely because of differences in care, climate and condition. Has the boat been in storage or dry dock in the winter or was it used year-round? Has the boat seen most of its miles in saltwater or freshwater? Plus, equipment and customization can vary a lot from one boat to another. Advanced electronics & navigation, as well as the choice of materials, will affect the price or value.
So what should you do? Many people pay the professionals and hire a boat surveyor to appraise it in person. A boat surveyor will consider your boats unique construction, condition & equipment, then inspect your boat stem to stern. To come up with a value, a professional surveyor will analyze the hull and either the rig or the engine .Two great places to find a surveyor are the Society of Accredited Marine Surveyors and National Association of Marine Surveyors . They maintain lists of boat surveyors in your area.
One more thing to consider: If you do stick with online sources, their boat values are usually based only on brokers or boat dealers. These sources dont take into account the significant number of boat sales between private parties. This isnt surprising, since data is hard to come by, hard to verify and hard to normalize.
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This Billionaire Knows The Secret To Saving A Family Business
This story appears in the October 18, 2015 issue of Forbes.
Cox Enterprises , the $17-billion-in-sales telecom and media conglomerate still owned and run by his descendants. He settled on a life-size bronze statue, showing him midstride with a straw boater in hand and rimless glasses on his nose.
Almost immediately after the statue was placed in the headquarters lobby, a small group of Kennedy’s confidants began suggesting he remove it. He pondered whether it had the right scale.
The problem lay in the Cox governing principles: business conducted with modesty, soft-spoken conservatism and a humble acknowledgment of limits. “You can’t get a swelled head,” Kennedy says. The edict apparently applies to statues, too. The offending sculpture will be removed.
Kennedy, currently the company’s chairman, has long chosen to exemplify this down-home thinking himself–in small ways and in larger ones . He is nearly invisible to outsiders, especially after a recent cancer battle. “Create noise, and then it’s a good time for people to take shots at you,” says Kennedy, 67, raspy-voiced. “We’ve purposely kept a very guarded shell around us. I think it’s served us well.”
The women did have a common vision for Cox. They had no desire to run it, but neither did they have any interest in selling it. So they turned it over to Barbara’s third husband, Garner Anthony Jr., to keep watch as CEO.
Best Bet Blue Books For Boat Buyers
Not all marine blue books created equal. Understand what each offers when you’re buying a boat.
After looking up the blue book value of this boat it had been, up until a few minutes ago, one of the happiest days of your life. You had been looking for that perfect cruiser and you’d found it at a local dealership. It was a used boat, but it was in great shape and the price was right, too. In fact, the dealer had pulled out that used boat blue book to show you what a great deal you were getting.
Just how much is that used boat worth? Blue book pricing should tell the story, right?
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What Condition Is The Boat In
As you might expect, there can be considerable differences in your boats value based on its condition. For example, imagine your boats hull has been holed and needs to be repaired. If this reality exists, it can knock a significant percentage off the boats value, irrespective of any other good qualities it may have.
There are two, sometimes three things you need to look at to determine a boats condition:
The mechanics: These include the engine hours and the physical condition of the hull and deck. Basically, are the bones of the boat in good condition? Is the engine in good shape for its age? If so, the boat will be worth more. On the other hand, if the boat has been driven a lot and required several repairs, it will be worth considerably less.
The cosmetics: These include all the non-essential aspects of the boat. Is the paint fresh? Is the trim in good condition? Is the metalwork shiny, or is it corroded? All of these factors come into play when buyers decide what they are willing to pay.
The rigging: Are the mast and boom in good shape? Are the sails reasonably new? Do all the pulleys and lines work smoothly and quietly? Obviously, these questions only pertain to sailboats.
If your boat has been in saltwater, you will need to worry about the paint, as well as corrosion. For this reason, boats depreciate more when used in saltwater than they do in freshwater.
Boat Value Guides For Used Boats
Much like the Kelly Blue Book is used for valuing automobiles, there are three different price guides used for valuing boats: NADA Marine Appraisal Guide, BoatWizards SoldBoats database and the ABOS Marine Blue Book. Each uses a different method of calculating values, which can vary significantly. A broker may use all three sources including the SoldBoats database and YachtBroker data, which are more detailed than what is available to individuals. BoatUS also has their Value Check program, which provides pricing guidelines for their members.
Prices in NADA Guides are given in ranges and may vary up to 10%. They are based on sales via brokers and dealers, not private party transactions. NADA guides include prices for personal watercraft, sailboats, outboard motors, powerboats, trailers and more.
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Kelly Blue Book Boats
The information provided in Kelly blue book boats will act as your incomparable guide if you plan to buy or sell boats.
The Kelly Blue Book Boats will show you all the basic processes that are involved in the determination of the true worth of the boat. Consequently, you will never get scammed in the process of buying or selling boats. The fear of being taken for granted by the dealers will not be there.
About Kelley Blue Book Values
Kelley Blue Books website is KBB.com, and website is used daily by millions of people for car value reports. KBB generates more than 40 million unique pricing reports every month, which shows that consumers and dealers alike trust the data.
Lets take a closer look at Kelley Blue Books proprietary valuation process. It uses predictive analytics, and industry and field analysis to review trends and provide the most current, market-reflective data. It then utilizes more than 250 data sources that provide 3 trillion data points for analysis.
Next it factors in the following:
- The current automotive market.
- Seasonal changes in prices.
- Car information: condition, trim, car age, car features, and mileage.
With all the data intelligence, market information, and vehicle data, Kelley Blue Book continues to provide used and new car value reports people can trust. Lets look at a breakdown of the different reports KBB.com offers.
Used Car Value Reports:
Trade-In Value: The amount you can expect to receive when trading a car at a dealership.
Used Car Fair Purchase Price : The amount that a consumer reasonably expects to pay to buy this used car at a dealership.
Private Party Value: The amount you can expect to receive when selling your car to another consumer. This value number is typically higher than the trade-in value because dealerships have overhead costs to consider.
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Is There A Kelley Blue Book For Boats
How Much do Boat Lifts Cost?
Pricing a boat is not as simple as pricing your average car but it is always good to have a starting point and so a commonly asked question that we get from boat sellers and buyers is is there a Kelley Blue book for boats?
You will be glad to hear that there are actually a few different options when it comes to pricing your boat!
But before we get into that, here are a few tips to get your boat ready so that you can get the best pricing possible:
- Make sure boat maintenance is up-to-date and keep all maintenance records
- If you boat has teak, remove stains and use a deck teak brightener to make it look new
- Shine the hull with boat marine polish as well as chrome and any other surfaces
- Fix any major defects or blemishes
- Remove stains from upholstery
The better your boat looks, the better price you can get!
Also, people love to review maintenance records, so the more history you can provide showing you took great care of your boat, the better!
Looking For Kelly Blue Book Boats
The Kelley Blue Bk trade-in value is used to discover the approximated cost at which a person could offer a watercraft or boat. Kbb offers you the make, design and engine type of the boat to establish the trade-in value. Thr r lots f rn u m want t know th value of ur boat. Mb u are selling it, nd wnt to b ur that th r fair. Maybe u are lkng to a bu a used bt and wnt to mk ur the llng r nt nfltd.
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Accurately Pricing A Used Boat
If the boat is a popular model, of which a number were built, you should be able to find information on performance statistics and possible problems, which will impact price. If the boat is older or fairly unique, performance information may be harder to find.
There may be an online history of the model via owner associations or clubs. These will usually discuss issues that a model has experienced over the years such as engine mount failure, fuel tank corrosion, steering irregularities and so on. Brokers who specialize in that particular type of boat may also be able to offer an opinion, especially if theyve been in the industry a while and have a deep expertise.
Checking comparable models on boats.com listings, YachtWorld and Sailboat Listings will also help zero in on a fair price. Its a good idea to check your boat values with the Boat Trader Price Checker tool. Two boats may have very different values depending on upgrades, maintenance schedules and the season they are listed.