Vessel Values

10 02 2010

In the process of helping boat buyers and sellers for over 2 decades, I have not utilized a NADA or BUC book in the last 10 years.

While the valuation books and databases for cars are relatively accurate, boat valuation sites and books are basically worthless. Cars are mass produced in large numbers, and boats are semi-custom or custom-made in relatively minimal numbers. Cars are produced with relatively few customizations. Boats, on the other hand, vary widely as to condition, equipment, usage and location, which explains why a certain boat may often sell for twice as much (or half, depending on how you look at it) as a sistership.

When working on behalf of my boat clients, I research similar boats for sale as well as recent sales (available behind Oz’s magic curtain) in order to help establish a vessel’s fair market value. After reviewing the vessel’s competition and recent sales, taking the time to compare the variables, we are able to estimate a vessel’s fair market value within a few percentage points.

While the market slowdown over the past few years has lowered selling prices, boats in demand (higher quality, newer, well-equipped, above-average condition) sell more quickly and for higher dollars than similar vessels with deficiencies. Boats of average or questionable pedigree, sunbleached, slovenly, poorly maintained with damages, or inoperable systems sell at significantly lower prices, if at all.

At the end of the day, every boat is worth what the buyer and seller agree to – every time – to the penny.

When buying or selling, please let me know if you would benefit from a professional valuation for a particular vessel.

Jon Shattuck
Yacht Broker/President
Brilliant Yachts
843-276-0852 cell/text
yachts@brilliantyachts.com
http://www.brilliantyachts.com

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