How to Determine the Value of a Classic Boat

Whether you are buying or selling a boat, calculating an accurate price depends on a number of factors. As with cars, there are points to consider such as mileage, service history and corrosion or other damage. In addition, you need to factor in improvements that have been made such as new sails, rigging and electronics. Armed with as much information as you can get, you should be able to calculate a fair value for the boat.

Instructions

    • 1

      Research the Internet for boat price guides such as the one provided by BoatShop24. These work in much the same way as the ones that car dealers supply. Make a note of the prices quoted.

    • 2

      Search the Internet for listings of boats for sale. Websites such as All Boats and The Yacht Market are excellent sources of information regarding prices. Look for the boat you are interested in on these sites and record the prices, taking particular note of prices that seem especially high or low.

    • 3

      Add all the prices together and divide by the number of prices you have gathered. This will give an average price you would expect to pay for a boat in this condition. It means the hull is sound, sails are less than 10 years old and have been inspected every couple of years by an expert in the field. The engine has been serviced at the beginning of each season and there should be evidence of other routine maintenance completed.

    • 4

      Read the details of the boats for which prices are above or below average. For higher price boats, expect to see a range of new equipment, recent paintwork and a good racing record. The owner should be able to show invoices for annual sail valeting, engine servicing and pieces of equipment such as seals, water filters and ropes. Prices which are lower than the rest might be due to hull damage, poor service history, faded paintwork and flaking varnish. Expect baggy sails, poor quality electronics and mould and mildew in the interior.

    • 5

      Consider what items increase or decrease the value of the boat you are thinking of buying or selling. How much will it cost a new owner to repair damage and replace items? Subtract these from the average price. How much have new items and repairs cost the current owner? Add these to the average price. If the total is within the two extremes, it's a legitimate price.