If planning to purchase a second-hand Sailboat – Motor Cruiser – PWC it is advisable to research the market value to help in the decision-making process. That is when the National Automobile Dealers Association (NADA Boats) appraisal guide comes into force.
Establish a Given Vessel
Often a subjective figure, establishing the market value of a used boat is determined by several different factors.
- Find a similar make and model of craft in numerous print or online classified ads to get a basic understanding of the saleable price
- Use a pricing service or marine appraisal guide to help research the value.
- Contact a boat dealership to ask for their option
- If high in value ($25,000+), it might be worthwhile using the services brokerage service to help in the sale
- On aged, high valued, or vessels of a particular model, it is often a benefit to arrange for an out-of-water survey and valuation report to be carried out.
NADA is designed to evaluate prices on boats and personal watercraft (PWC) in the pre-owned market, in addition to several boat related accessories, such as the outboard motor and road trailer.
Establishing the market value of a used boat is much easier with a marine price guide with its ability to help either seller or buying in establishing a fitting sell-on price for a given object.
Even with the help of the NADA boats, it is still important to use some common sense on receiving a suggested value, and not to take that value as literal. Once the application form is complete, the price indicated relates to the average retail price. So for instance, if a 2010 Larson runabout is kept in first-class condition with minimal use, it is likely to have a market value higher than the price indicated in the guide. Guide prices are closer to the truth with boats or PWC aged at less than 5-years.
Other Factors to Note in Buying a Boat
- Establish its prior use – crafts used in saltwater, ex-charter boats, etc – often have lower re-sale values.
- Have a craft inspected by a qualified mechanic or surveyor to determine its overall seaworthiness.
NADA boats is a recognized name in the marine industry for appraising recreational vehicles (Power Boats – Sailboats – Personal Watercraft) and related accessories and dates back its pricing to 1980 and older. A boat guide offers a quick, effective method to determine value and decide if the time is appropriate to invest in an up-grade or to stick with an existing craft until more favorable financial conditions present themselves.
Elsewhere, use a secondary service, such as BoatHistoryReport.com, to avoid hidden problems. Get a vessels history to guard against unknown problems or potential damage; information obtained includes accident reports (fire, submerged, hurricane, salvaged, run aground, collision, etc), as well as reports on seized or recalled vessels.
Besides the invaluable tools for appraising values, NADA also offers a lot of other resources, services, and products, such as informational articles, tips and advice on matters related to the purchasing process – make it as easy as possible for the consumer.
NADA Boats – Marine Appraisal Guide Example:
In Summary
NADABoats is highly reputable and well-known in the world of appraising the value of boats and equipment (aged 1980 to now) in the market. By using the prices published in this boat motor appraisal guidebook, you are able to make an informed decision on when might be the right time to up-date or stay with an existing vessel until the market conditions start to show more encouraging signs.
Visit the official site: www.nadaguides.com for more information.