It’s natural to wonder, “How much is my boat worth?” or “What should I pay when I buy a boat?” but it’s also important to ask, “Who is providing the information?”.
So let’s establish this up front: There are no Kelley Blue Book® Values for boats. Of course, if you need a value for apassenger vehicleor motorcycle,we can help there.
But where can you turn if you’re looking for boat values since Kelley Blue Book doesn’t offer them?
If you pull up a search engine and type in “boat values,” “Blue Book boat values,” or “boat values KBB,” a lot of sites come up. Many are legitimate but do read reviews. They can give you a general idea of the price of a boat like yours or the boat you might consider adding to your fleet.
But be careful. Not all boat value sites are legitimate. Almost every site out there throws the words “Blue Book” in there to confuse the issue. Some sites cover their pages with phrases like “Boat Blue Book Value” or “KBB Boat Book” to try to attract shoppers and search engines alike. They hope you’ll assume their boat values are genuine Kelley Blue Book boat values. But they’re not.
Because – bottom line – none of those sites is working with Kelley Blue Book. Kelley Blue Book has been providing car values since 1926, but we don’t offer boat values. As a result, many boat owners choose to use a combination of online sources to arrive at a value. But there are other options.
How Can You Get an Accurate Boat Value?
While online sources can give you a general estimate, boat values vary widely because of differences in care, climate, and condition. Has the boat been in storage or dry dock in the winter, or was it used year-round? Has the boat seen most of its miles in saltwater or freshwater? (That sea air can be a corrosive killer!) Plus, equipment and customization can vary a lot from one boat to another. Advanced electronics & navigation and the choice of materials will affect the price or value.
So what should you do? Many people pay the professionals and hire a boat surveyor to appraise it in person. A boat surveyor will consider your boat’s unique construction, condition, and equipment and then inspect your boat stem to stern. To come up with a value, a professional surveyor will analyze the hull and either the rig or the engine (sailboat vs powerboat). TheSociety of Accredited Marine Surveyors(SAMS) andthe National Association of Marine Surveyors(NAMS) are two great places to find a surveyor. They maintain lists of boat surveyors in your area.
Another thing to consider: If you stick with online sources, their boat values are usually based only on brokers or boat dealers. These sources don’t take into account the significant number of boat sales between private parties. This isn’t surprising since data is hard to come by, verify, and normalize.
Does Kelley Blue Book Have Boat Values?
Kelley Blue Book doesn’t provide values for boats. This also includes boat-related products like outboard motors and trailers.
Why doesn’t Kelley Blue Book offer boat values? Good data is too hard to come by. Getting a large enough sample size to set a boat value with the confidence and accuracy we demand is impossible. We don’t put the name Kelly Blue Book on just any value. We have almost a century of valuation expertise and trust to consider.
Kelley Blue Book only provides vehicle trade-in values, private party values, and Fair Market Range when we can get our hands on enough actual transactions across a wide enough range of the country to ensure we can produce values that are both fair to all parties and reflect the ever-changing market.
Getting a value for a boat isn’t easy, which is why many people choose to work with a professional boat surveyor. In the end, there are online sources that can give you an estimate, but Kelley Blue Book isn’t behind any of them. Good luck.
Kelley Blue Book Can Help You:
LearnWhat Your Car is Worth– help you with selling or trading your vehicle.
Much like the Kelly Blue Book is used for valuing automobiles, there are three main price guides used for valuing boats: NADA Marine Appraisal Guide, BoatWizard's SoldBoats database, and the ABOS Marine Blue Book.
Much like the Kelly Blue Book is used for valuing automobiles, there are three different price guides used for valuing boats: NADA Marine Appraisal Guide (Now J.D. Powers), BoatWizard's SoldBoats database and the ABOS Marine Blue Book (Published by Price Digests).
NADA is principally a guide for loan collateral and insurance value and not always a good indicator of market value. Suggested list was retail/dealer price when the boat was brand new. You can use craigslist, eBay and other e market sources to get a better idea of market value in your location.
While owning a boat can provide a sense of freedom and excitement that no other form of transportation can offer, it's not without costs— they can be more expensive than you anticipate, and not just at purchase. The average purchase price of a 20-foot boat is between $10,000 and $60,000.
An ACV policy provides coverage up to the current market value of the vessel in the event of a total loss, taking into account depreciation and the condition of the boat at the time of the loss.
KBB factors in the condition of the vehicle, local market conditions, and popularity of the vehicle, so their prices tend to be a lower than NADA. NADA values tend to lean higher because they assume cars are in good conditions.
The depreciation curve is particularly steep in the initial years of ownership, with some boats losing up to half their value within the first five years. However, assuming the boat is well-maintained, value retention tends to improve, and the rate of depreciation generally slows down after this period.
As we mentioned, boats depreciate over time, much like cars. Unless it has some collector's value, a 15-year-old boat isn't going to be worth much, no matter how valued it was in its prime. The brand is probably more of a factor than it should be.
The appraiser will evaluate the model, make, condition of the boat, and other items that are typically taken into consideration, such as location, engine condition and age, upgrades, and overall performance.
Furthermore, boAt markets its products through public events and collaborations with various influencers and sports teams. The company is now all set to expand its market by reaching a valuation of $1.5 to $2 billion through IPO (Initial Public Offering).
If you pull up a search engine and type in “boat values,” “Blue Book boat values,” or “boat values KBB,” a lot of sites come up. Many are legitimate but do read reviews. They can give you a general idea of the price of a boat like yours or the boat you might consider adding to your fleet.
Regular engine maintenance, low engine hours, and documentation of service records can enhance a boat's marketability and resale value. Buyers are more likely to invest in a boat with a well-documented maintenance and service history.
Boating is simply fun in its own right, and it's fun you can easily share with others. A new pleasure boat is unlikely to appreciate in value. Like an automobile or RV, a snowmobile or a motorcycle, a new boat begins to depreciate the moment you take ownership.
You may search Coast Guard Documented Vessels by their names, Hull Identification Numbers or Official Numbers via the CGMIX Coast Guard Port State Information Exchange. The search will reveal the Vessel Information (Vessel Name, Official Number, Hull Identification Number, Flag, etc.)
Below are the definitions of the suggested list, low retail value, and average retail value as explained by NADA guides: “Suggested List — The value listed reflects the approximate price of the unit when it is brand new. The prices listed are furnished by the manufacturer and are assumed to be correct.
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