Moe’s B2B World

It is possible to determine the value of a boat by yourself before buying or selling. Besides having a general idea of the market value for the kind ob vessel, it is fundamental to know what to look for. This ten point checklist tells you about the most important factors that may affect the end price of that boat or yacht:

1) Start with the boat hull and understructure. Are there any scrapes, cracks, signs of badly executed repairs, or fading? All these will negatively impact the boat value. Please note that the hull is best examined with the boat out of the water.

2) Next, look at hatches and fittings on the superstructure. Ideally, everything should fit well, be watertight, in good condition and not warped by dampness. Any exceptions to this warrant a discount on the total price.

3) Check the engine block, including the ancillary systems such as steering. You should of course turn the engine on and try it out. After that, have a look inside and check for oil leaks or for too much smoke in the engine compartment, for eventual cracks on the engine block, and for the state of all the cables and moving parts.

4) Check the rest of the electrical equipment, and all the switches. Turn everything on and off, and verify that it works. Do this both for the external navigation lights and switches, and for the internal ones of the living compartment, including for the kitchen and toilets.

5) Have a look at all the bilges, under the flooring. Oil signs are a bad sign, you don’t want any oil leaks. Watermarks from flooding are sign of a lesser problem. You will want to enquire with the current owner when the flooding happened and why.

6) What condition are the external surfaces in? Examine all external surfaces with care. This includes the gel coat, the woodwork and the upholstery. Some wear and tear will be inevitable, but they will reflect the general condition of the boat. If you are the seller, it can make sense to change the upholstery as this is an inexpensive upgrade that can add more value to the boat than it will cost you.

7) Have another look at the wooden parts of the boat, if any are present. Is there any sign of warping, chipped areas, or damp spots? Is the wood well maintained? This is a difficult and expensive area to repair, and you want to make sure that there won’t be too much to do extra.
For sailing boats, check the sails and the rigging . Check that all the sails and rigging (including spares) are in good condition; do not only look for evidence of repairs, but also make sure everything functions easily and flows freely.

9) What accessories will be part of the deal? Make sure to make an inventory of all the extras, and evaluate them to their fair used material price. This could make a serious difference to end value, especially if a lot of electronics are part of the deal.

10) Don’t neglect to look at the safety equipment. Not only do you want to ensure that it’s present and in good order, but its state of maintenance will shed light on the care that the previous owner put into the boat, which is an important consideration for boat evaluation.

This entry was posted on Tuesday, February 24th, 2009 at 10:46 am and is filed under Business.You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.