Pricing to Sell—Price Checker First!

You've had great fun with your boat, but the time has come to find a boat that is (choose one or several): larger, faster, shinier, newer. She's been your best friend every summer but now you've got "boat fever" and, if you're like most boat owners, you'll trade up on a regular basis. All those gleaming new boats at the fall boat shows caught your eye but — before another boat arrives in your family — you have to sell the old one.

Since your present boat is probably going to be used to offset the cost of the next one, your first priority is to set a realistic price on your boat. With that in mind, you can then start making financial plans and seeing what's available in your price range. But the question is: How do you set that price?

It's one thing when you sell your used car. Pick up the classified section of any newspaper and you'll find dozens of similar cars on the market, which can give you a finely tuned sense of the market value for your car. With a boat, however, it's far more difficult. Even the most popular boats aren't built in automotive quantities, so you'll be lucky to find even one boat like yours for sale at any given time.

Perhaps your best starting point, especially if you're thinking about buying a new boat, is with the local dealer for your boat, where you can see what similar models are selling for on their used boat lot. But remember what one dealer noted when discussing used boat prices: "Every seller thinks a boat is worth more than it really is, and every buyer thinks a boat is worth less than asked. That's the nature of the business."

Your dealer may be hesitant to suggest a trade-in value for your old boat unless you're actually negotiating for a new boat, because he may be tempted to "skew" the value one way or the other, depending on the numbers involved. For example, a dealer may be willing to give you a larger than realistic trade-in price in order to sell a boat that has been on his floor for the summer, while he may not offer you nearly as much for a trade-in on a boat that is in demand.

This brings us to the price guide, or what most people in the industry commonly refer to as the "blue book." Just as in the auto industry, price guides are used by boat dealers to figure trade-in allowances, by insurance agents to set premiums and values, and by marine surveyors for evaluation guidelines. Even the IRS uses these price guides to determine if you're spending more money that you appear to be earning.

Are you getting ready to sell your boat but don't know how much to sell it for? Or are you getting ready to buy a boat, but want to know its worth so that you don't overpay? Boat buyers and sellers now largely rely on Boat Trader's Boat Price Checker tool for the most accurate pricing information for both new and used boats based on real-time market data. 

Historically NADA Guides was the go-to source for boat values, publishing blue-book type pricing information for various types of vessels and watercraft. However, back in 2015 this legacy tool was purchased by J.D. Powers, an organization more focused on land-based vehicles, and rolled into their larger suite of valuation tools. 

Nowadays, the most accurate and up-to-date pricing information for a wide range of boat values can instead be found using Boat Trader's Price Checker. This dynamic tool provides accurate prices for powerboats, motor yachts, personal watercraft, sailboats, outboard motors, trailers and more based on recent sales data. 

Above: Boat Trader's Boat Price Checker tool offers buyers and sellers real-time insights into the value of vessels based on current market data. Image via Boat Trader.