There are a number of reasons to have a boat appraised. It may have to do with buying or selling a boat. It can also have to do with securing insurance on the craft. Whatever the situation, there are a few basics that a professional will include in your boat appraisal.
Who made the boat? The answer to that question sets the stage for how the appraisal will go. That’s because the reputation of that manufacturer will help set expectations and provides some idea of how to place a value on the craft.
Just as with automobiles, there are certain boat manufacturers that immediately conjure up images of superior quality. With that quality, there’s usually a higher price tag. While who made it isn’t the only factor to consider, it is one that will make a difference.
The Make, Model, Size, and Year
Within the brand, there are likely to be makes and models that tend to stand out more than others. Depending on the type of craft involved, this can make a difference in what the appraiser will look at particularly closely. A make and model that is more popular will certainly be valued in a different way from one that is in less demand.
In like manner, the boat dimensions and the year it was made will hasome influence on the outcome of the appraisal. It’s not just how opulent the boat happens to be, or the age. Certain years tend to attract more attention than others, and will be valued a little higher than other years.
The Engine Type
A great deal of attention is given to the engine type. The condition is one key factor, but the type of engine also matters. If it’s the original and is in perfect condition, that’s a huge plus. The fact that the engine happens to be ideal for the size and type of craft involved also helps ensure that the boat retains more market value.
Keep in mind that a replacement engine won’t necessarily tank the boat appraisal and the goal of determining the value. If that new engine is a model upgrade that works as well or even better than the previous one, it may actually help increase the value of your boat.
Any Upgrades to the Original
Upgrades other than the engine can also have a positive impact on the appraisal outcome. If it’s outfitted with elements that help to make the boat more comfortable, easier to maneuver, and safer to use, then there’s a good chance those changes will enhance the overall value.
Keep in mind that not all customizations and upgrades automatically translate into greater value. Changes that are made more to suit individual tastes and less to improve the boat’s qualities are not likely to result in higher value. In some cases, those types of changes will decrease the value.
Whatever your reason for needing an appraisal, make sure you go to a professional who is certified and has experience with the type of boat involved. Doing so allows you to tap into a resource that is capable of providing objective, fact-based information that results in an appraisal that you can put to practical use. Whether buying, selling, or upgrading insurance protection, reliable data is what you require.