A lot of people would love to own a boat. If you are one of them and you finally find yourself in a situation where you can actually buy one, albeit a used one, it is very important that you learn about fair used boat pricing, so that you don't end up getting swindled by inflated prices. There are, luckily, a lot of boat appraisal guides out there that can show you at least some basics on what a boat should be worth and for how much they resell in today's market. What you may not have known is just how competitive the world of boats actually is.
Using Boat Pricing Guides:
If you were to only look at boats, rather than just used boat pricing guides, you will notice that some people price theirs very low, often because they want to make a quick sale, whereas others sell them for much more, hoping to make a profit. You must be aware of the various factors that actually influence prices, therefore, so that you don't end up paying more than you need to. Knowing the average price is important because one that is under-priced may indicate that the boat has problems, while one that is over-priced may have extra features.
There are quite a few trusted sources that you can use in order to find out what the fair price actually is. The three main used boat pricing guides are ABOS, BUC, and NADA. These guides are all available online, so you can access them on the go. They are very important guides that can show you a lot more than price. The prices that they provide are based not just on manufacturer and model, but also on age, additional features, repair and maintenance history, and more. In fact, they even take into consideration where in the country you are buying the boat, as this can have a significant influence on price.
You can also use appraisal guides to figure out fair prices for certain types of boats. Additionally, you can use them for the appraisal of accessories included in the boat. Plus, it looks specifically at the types of boats, such as power boats, sailboats, boat trailers, personal watercrafts, pontoon boats, outboard motors, and more.
Special features and options are also included in a boat's appraised value. Some of the things that will increase the price include radar and satellite systems, state of the art new engine parts, newly installed carpets in the cockpit, electronic packages, dinghy lifts, new canvas tops, and so on. If the boat has been upgraded during its lifetime, however, this does not generally make the price of the boat go up.
When you find an appraisal guide, you have to understand that it is just that: a guide. This means that the value listed there is not the exact price you can expect to pay, but rather the average price for that type of boat. Some boats simply hold their market value better than other boats, in the same way as cars.