Marine Surveyor Estero – How is a boat valued?

Every marine surveyor Esterowants you to understand a boat’s value. This is because it is critical in pricing. Setting a starting price can make or break a deal. As a result, pricing is one of the most challenging aspects of selling a boat. Most sellers will often ask, ‘how much is my boat worth?’ While on the other hand, potential buyers would wonder, ‘will I overpay for my boat?’ Nobody wants to pay too much, so it is essential to get a relatively accurate idea of what your boat is worth.

What affects used boat value and price?

The decision on whether to buy a used or new boat depends on personal finances. However, other factors have to be considered. The main ones include the size, age, and model of the vessel. Age and wear are difficult to hide when a boat hasn’t been properly cared for. When determining a boat’s value, there are other factors to take into account. They range from the boat’s condition, location, and equipment.

Condition divides into three major categories; Mechanical, Rigging, and Cosmetics. When inspecting the mechanical condition, a marine surveyor Estero will inspect the engine hours and its performance, battery, hull integrity, and desk status. The surveyor will focus on the sailboat mast, boom, shrouds, stays, and sails with rigging. Lastly, the cosmetic inspection focuses on everything else, including canvas, wood trim, gel coat, etc.

Location plays a part in boat pricing. Where the boat was being used will either increase or decrease the value. If used in a highly concentrated area, the price may be depressed because there is a larger supply of boats. On the other hand, selling in a small population can decrease the number of buyers.

Lastly, a boat that is fully equipped will make a significant difference in the selling price.  This is more so if the electronics are updated. In this case, such a boat will most likely attract more buyers because the boat will be more appealing. If the boat has advanced electronics like satellite communications and radar, these will generally raise the price since they aren’t typical upgrades.

Should I hire a surveyor to appraise a boat before buying?

You often don’t need to have a survey done when buying a new boat. However, if a used boat is under consideration, you may want to hire a specialized marine surveyor Estero. The appraisal survey will be performed to identify your boat’s approximate value and uncover the problems the boat has. For the most part, the purpose of the survey report is to ascertain the marine vessel’s condition and its history. A marine surveyor will inform you of any major or minor repairs, how much it will cost, and more accurately, the current market value of your boat. This information is vital and will most definitely help you determine the boat’s value even in years ahead.

Marine Surveyor Estero