How to Put a Value on My Boat

Let's say you want to sell your boat. There are many variables to setting a sale price, a most critical feature that could stand in your way. Price it too high, and you won't get any calls. But set it too low, and people will ask you what's wrong with it. Take your time in setting a fair price, advertise that it's for sale, and before too long, you will sell your boat.

Things You'll Need

  • Computer
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Instructions

    • 1

      Assess the condition of your boat. Does everything work? If not, fix any problems before you try to sell it. Do you rinse it off after it has been in salt water and do you cover it after each use? Such information will indicate to a potential buyer how well you have cared for your boat. Have you performed routine maintenance on your boat? This translates to increased value. Remember that boat owners value their boats more highly than potential buyers who are looking for a good deal.

    • 2

      Consult various websites to determine the approximately value of your boat. You will be asked to provide the make, model and condition of the boat as well as the equipment it contains. Then the site will calculate both the low and average retail prices for your boat. Be aware that if it is in great shape and everything is in working order, it could be valued higher than the average price.

    • 3

      Know the amount that you will need to pay off if you have a loan against the boat. Tell your lender that you are interested in selling it and determine the easiest method to give a title to the buyer. Also, you may find that you owe the lender more than your boat is likely to sell for, so it is helpful to know that beforehand. Besides, it's always a good idea to keep your lender informed of your plans to sell.

    • 4

      Be flexible. For example, add the phrase "Or best offer" to the amount you expect to receive from the sale. With that language, potential buyers may be more enthusiastic and ask for additional information about the boat if they know that you may be willing to sell it for less. If you want to sell your boat quickly, or if you have picked out another boat and need the money from the one you are selling to put toward the new one, this may be useful language to add to your sales pitch.