Fishing Frenzy

Establishing the monetary value for a boat is one of the most important and sometimes the most difficult aspects of dealing with pleasure boats, from the perspective of the seller but of course also for other parties such as buyers, brokers, insurers and marine surveyors

As the potential seller of a boat or yacht, whether owned for pleasure or for fishing, and whether you plan to reinvest the proceeds of the sale into another boat or not, it is critical that you get the maximum used boat value from your vessel.

At first glance buyers may think that the subject is less crucial for them as there is a lot of choice of similar boats with clear prices, but make no mistake - don't become complacent and forget that not getting the best deal may mean losing tens of thousands of dollars.

But doing this is easier said than done. Without adequate knowledge of boat values, without knowing about the current market situation (often influenced by season and location), chances are that you will end up less well off than you thought. There are possibilities that you will do a deal which might seem to you very profitable in the beginning, but that a few days later you might realize that you could have got a much better deal in the nautical transaction.

Which is why boat evaluation cannot just be an afterthought or a given, but must be considered with care. First of all, the prospective buyer or seller needs to decide whether to go solo, or whether to hire a boat evaluation pro. Marine brokers can help to sort out the issue for you.

But then again, doing your own evaluation is a perfectly legitimate tactic, as long as you are willing to put in some work to educate yourself. And believe it or not, many people manage to do their evaluation better than the professionals.

Casting your net wide when seeking information is crucial when doing your own boat evaluation. Try to read a lot about the subject, determine the kind of vessel that you are concerned with, and try to establish possible minimum and maximum asking process.

The first step for self-appraisal of marine values is to go out and collect some boat and yacht classifieds, whether online or from trade magazines. By comparing offers of similar boats in different classes, you will quickly get an idea of where the market is going.

Also good are boating festivals, which are usually organized by boating clubs and yachting marinas. These shows are excellent to pick up more info on boat values, plus people who come to the shows are experts in this industry and know what they are talking about. Don't underestimate the value of a chat with the right person to accurately pinpoint the possible value of a boat - and you may even find a buyer!

Another good place to spend some time at are boat and yacht shows, even if you are ultimately buying or selling second hand. Finding out by yourself what kind of features and accessories are in fashion helps in determining what is currently in demand and what isn't and this applies to used boats too.