How to Find out What a Boat Is Worth

If you ever want to trade your boat in for a newer one, or if you ever want to sell the one you own, you need to find out the value of your boat. Trading in or selling your boat is very similar to the process of trading in or selling your car. You need to know what it is worth so that if you're trading it in, you can get the best offer to ensure you can get the best deal on a newer boat. If you are selling your boat, it knowing your boat's value is good so that you an ask the right price for it. You don't want to set it too high because people won't buy it, and you don't want to set it too low because you'll sell yourself short.

Difficulty: Moderately Easy

Instructions

1. Check online. There are many services that allow you to enter information on the year, make, model, and condition of your boat to give you an approximate value of what it is worth.

2. Go to a local marina or marine dealership. The people there will be able to give you an estimate of the value of your boat. This way is a great idea, because you'll get an idea of what a dealership will offer you for your trade. Make sure you know the hours you've put on your boat.

3. Look through "for sale" ads for similar boats. See what other people are selling their similar boats for to get an idea of what you could sell yours for.

4. Ask your insurance agent. Your insurance company knows the value of your boat because this is how they figure up your insurance quote. They will be able to give a very accurate estimate of your boat's worth.

Tips & Warnings

• If you take your boat to a dealer, make sure it has been cleaned to get the highest possible offer.

Resources

• Boat Pricing
• BUCValu

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