When selling a boat, a boat seller will want to know how much to sell their boat for and how to get the best price for their boat when they sell it.
There are 6 methods of pricing a boat for sale.
To price a boat:
- Check J.D. Power for boat values
- Compare boat website listing prices
- Ask the boat manufacturer directly
- Hire a marine surveyor
- Research local newspapers and boating magazine ads
- Visit local boat dealerships
Following these steps will help a boat seller to price the vessel appropriately and get the highest price for the boat.
1. Check J.D. Power For Boat Values
The first method of pricing a boat to sell is to check J.D. Power for boat values. J.D. Power is a consumer global database of vehicle make, model, specification and pricing information on all boat makes and models. J.D. Power was formerly known as Nada Guides.
J.D. Power will provide boat appraisals and give a valuation of any boat. It provides a suggested list price, a low retail price to sell and an average retail price to sell.
This information provides sellers with a price range that their boat should be priced.
Potential boat sellers can input their zip codes into the J.D. Power website to get a more accurate price to sell the vessel in their specific location.
Sellers can input their hull i.d. into the J.D. Power website too for getting specific pricing information for their vessel.
Using J.D. Power for getting a price to sell a boat is free. Sellers can find boat pricing information specific to their boat's make, model, and specification on J.D. Power in approximately 2 minutes.
2. Compare Boat Classified Website Listing Prices
The second method of pricing a boat to sell is to compare the listing prices of similar boats advertised on boat classified websites.
To compare the listing prices on boat classified websites:
- Go to boattrader.com and check out the prices of boats similar to yours
- Browse boats.com and compare the prices of similar vessels to yours
- Scan yachtworld.com and study the prices of similar boats to yours
Once a seller checks out similar boats for sale to their own, it will help provide information on what the average retail value is for their boat as well as how an advertisement should look.
Comparing prices of similar boats for sale on boat classified websites takes 1 minute to complete. It is free to do.
3. Ask A Boat Manufacturer Directly
The third method of pricing a boat to sell is asking a boat manufacturer directly for a suggested selling price.
To ask a boat manufacturer directly for a recommended selling price, go to the boat manufacturer's website of your boat and look for an email address or phone number. Contact them and explain in detail your specific boat model, spec and condition.
The boat manufacturer should be able to provide you with information on a suggested selling price.
The benefit of asking a boat manufacturer directly for a selling price is they will have detailed knowledge of the boats they manufacture and will most likely know the ideal selling price for their vessels.
Two downsides of asking a boat manufacturer directly for a selling price is some boat manufacturers can be hard to contact as it is difficult to find contact information and sometimes they do not reply to emails or phone calls.
Asking a boat manufacturer about how to price your boat to sell can take 12 hours if contacting them through email or 5 minutes if calling them on the phone.
This is a free method of figuring out how to price your boat to sell.
4. Hire A Marine Surveyor To Price The Boat
The fourth method of how to price a boat to sell is to hire a marine surveyor to value the boat.
To hire a marine surveyor to price the boat, contact local marinas for local marine surveyor contact details and contact the marine surveyors directly.
A marine surveyor will visit the boat and thoroughly assess the boat's interior and exterior in detail.
The benefit of using a marine surveyor is they will be able to provide a boat seller with a detailed report on the value of the boat.
Hiring a marine surveyor to price a boat will take approximately 1 week from start to finish.
Hiring a marine surveyor to price the boat will cost approximately $15 to $20 per foot of boat size.
5. Research Local Newspapers & Boating Magazine Ads
The fifth method of pricing a boat to sell is to research local newspapers and boating magazine advertisements.
To research local newspapers and boating magazine advertisements, go to a local bookshop or local store and browse for boat magazines and newspapers with advertisements of boats in them.
Examples of boat magazines to check are Classic Boat Magazine and Boating Magazine.
Check the boat magazines and local newspapers for similar boats for sale to the boat a seller owns.
The benefit of researching local newspapers and boat magazines are a seller will get a boat price specific to their location.
Researching local newspapers and boating magazines for boat pricing information will cost $15 to $25. This is the cost of the boating magazine or newspaper.
One downside of researching boating magazines and newspapers is these magazines and newspapers may not have a sellers specific boat make and model for sale so there may not be specific pricing information for a sellers boat.
To solve this, before purchasing the newspaper and boating magazines, quickly scan them to ensure there are similar vessels to the one a seller is selling.
6. Visit Local Boat Dealerships For Pricing Information
The sixth method of pricing a boat to sell is to visit a local boat dealership to check out the prices of similar boats.
A local boat dealership will have the current market value of many different boat makes and models.
A seller can visit the boat dealership and compare the prices of similar boats to theirs to see what the current market value is for the boat they are selling.
Visiting a boat dealership and comparing prices of similar boats is free.
One downside of visiting local boat dealerships to get pricing information is the boat dealership may not have similar boats to the boat you're selling.
Factors That Affect Pricing A Boat
The factors that affect the pricing of a boat are:
- Boat age: The age of the boat will influence the price of a boat with newer boats generally being more expensive than older boats
- Boat location: The location of the boat will influence the price of a boat as some states/countries will price boats higher than others
- Boat condition: The condition of the vessel's exterior, interior, electronics, mechanics and engine will influence the price of a boat
- Boat features & extras: The boat features and additional extras like a boat warranty, upgraded marine electronics, extra boat gear etc. will influence the price of a boat
- Boat size: The size of a watercraft will influence the price of a boat with larger-sized boats over 40 feet typically being more expensive than smaller-sized boats under 40 feet
- Time of year: The time of year can influence the price of a boat with the spring and summer months typically meaning a higher price for the boat compared to the winter months when there is less demand for a boat
How To Price A Boat Summary
Frequently Asked Questions About Pricing A Boat To Sell
Below are the most commonly asked questions about pricing a boat to sell.
What Is The Best Way To Price A Boat To Sell?
The best way to price a boat is to use boat valuation data from J.D. Power and price data from boat-classified websites like boattrader.com and boats.com.
What Is The Worst Way To Price A Boat To Sell?
The worst way to price a boat is by using gut feeling to price the boat without any price data.
What Websites Help With Pricing A Boat?
Websites that help with pricing a boat are:
What Magazines Help With Pricing A Boat?
Boating magazines that help with pricing a boat are:
- Classic Boat Magazine
- Boating Magazine
- WoodenBoat Magazine
Is It Hard To Price A Boat?
No, pricing a boat is straightforward and easy to do by checking the prices on boat classified websites and getting price data from a boat consumer database like J.D. Power.
Should The Price Of A Boat Be Reduced If It Has Been On The Market For Some Time Without Selling?
The price of a boat should be reduced if it has been on the market for some time without selling only if the boat has been on the market during the spring and summer months when boats tend to sell quickly.
If the boat is listed for some time without selling during the winter months, a seller should not reduce the price yet as boats tend to take longer to sell during the winter months.
How Do You Price A Boat Competitively?
To price a boat competitively, check out the price of similar boats listed for sale on boat classified websites and price your own boat 5% to 10% lower than these listed prices.
This will ensure your boat's pricing is competitive compared to other similar boat listings on the market.
How Do You Price A Boat For A Fast Sale?
To price a boat for a fast sale, list the boat for sale at 15% to 20% lower than the current market value of the boat. This will help ensure a boat sells faster as discount buyers will attempt to get a cheaper price.
How Long Does It Take To Price A Boat?
The length of time it takes to price a boat ranges from 1 minute to 12 hours depending on the method of pricing a boat used.