INFOGRAPHIC The foolproof method for evaluating a used boat and not getting ripped off
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A booming market full of opportunities. This is the situation in the used boat segment for 2017 for both sellers and buyers. Prices have become more stable than in the past when the range for the same price model could fluctuate by as much as 50 percent, creating uncertainty about the true value of a bargain hull. Having stabilized the market, it always pays to remember what are the basic rules for valuing a used boat. Look at the graph below.
PROPER EVALUATION
After the first year it should lose 20% of its value (which roughly corresponds to the value of VAT) to which an additional 5/10% should be added. We are talking about the value of the boat, including all expenses incurred for accessories, equipment, facilities not included in the basic list price. The total depreciation after the first year can be estimated at 25 to 30 percent. In the following years, from the second to the fifth/sixth year, the average depreciation is 5% per year.
THE IMPORTANCE OF “LIKE-NEW CONDITION”
After a five-year period, the boat can then be considered to be worth approximately half of its initial cost. Then the depreciation curve tends to smooth out until 10 years of life, when the actual condition of preservation and efficiency will matter most. For boats over ten years old, it becomes essential, for it to have real value, that it be in good or perfect working order, in so-called “like-new condition.”
THE OTHER VARIABLES
Within these general parameters, other specific variables must then be included, such as the superior price hold of some brands over others. Specific cases are those related to racing boats, which have much stronger devaluations, or production boats with “extreme” features that may suffer, again, greater devaluations. A case in point is that of vintage boats, often built of wood. Other parameters come into play here, as is also the case with classic cars. The state of preservation obviously matters, but so does the history of the boat, the prestige of those who designed and built it. A world apart.
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