lure-washer
Member
What is the best way to establish the value of a boat and equipment for resale?
Lure-washer
Lure-washer
Establishing boat value
- Thread starter lure-washer
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trophywife
Crew Member
If its worth it get it appraised.. Proper one is 500.00
i did this for my insurance so my boat would be insured for the correct amount. Not what i bought it for.
Or throw up all the info and some pics and some forum members could give you an idea... Is it a 20' bayliner or 28' tiarra with twin 250's?
i did this for my insurance so my boat would be insured for the correct amount. Not what i bought it for.
Or throw up all the info and some pics and some forum members could give you an idea... Is it a 20' bayliner or 28' tiarra with twin 250's?
Sounds about right, perhaps minus 300%. I think people spend too much time worrying about getting a great deal on a boat and not enough about what the operating costs will be. For example saving up $16,000. for a good older sport boat that will have an average annual operating cost of $10,000. a year or more.
Seagirt
Active Member
There is a website, http://www.nadaguides.com/Boats , which will give you an idea of the boat's worth. I can't comment on how accurate it is, never used it.
spring fever
Well-Known Member
Low for here-this is a U.S. site and great fun to play with. Depressing at the same time.
scott craven
Well-Known Member
Rockfish, if your boat is costing that much to operate, you need to get something newer
Well.... if you fish a lot and do offshore salmon, tuna and hali trips, I don't think Rockfish's estimate is that far off even for a new boat. It just depends on what you include in expenses. Moorage costs me $300/month and I only moor for about 3 months so that $900. I easily go through $40 in bait and $40 in ice on a weekend. I fish about 10 weekends a year + one full week (call that the equivalent of two weekends) so that 12*80 in ice and bait = $960. Annual maintenance on the engines (twin Honda 135's) runs me at least $800. Fuel - I go through $200-$400 per weekend. Tuna trips are easily $400 in fuel. Short salmon trips maybe $100 in fuel but I do two per weekend. Assuming and average expense of around $250/weekend * 12 weekends = $3000.Rockfish, if your boat is costing that much to operate, you need to get something newer
Insurance is about $1k/year. Trailer and boat licenses are a total of about $200/year. Bottom paint is around $1500 done every other year so $750. Unexpected expenses - pump failures (at least one or two per year - seven on the boat), gel coat nick (or larger damage) repairs, hydraulic fluid, oil etc. easily adds up to $500/year. Broken/lost fishing gear and leaders - that's easily a few $100/year (this was a particularly bad year for me in this regard as we lost about $1k to the sea in two separate "events" of things going overboard). We pay about $750 each year to get the boat detailed at the beginning of the season. I used to do it myself but it takes a good 2-3 days of FT effort to do it right. We catch a lot of fish and vacuum pack it all. I think we've gon through about $300 in vacuum packing bags this season. So my totals are:
Moorage - $900
Bait/Ice - $960
Engine Maintenance - $800 (that's probably a bit low)
Fuel - $3000
Insurance -$1000
Boat and Trailer lisc - $200
Unexpected failures/losses - $400
Detailing once/year $750
Vacuum packing bags $300
_____________________________
Total $8310
The above doesn't include:
1) various modifications I make to the boat in the offseason (this last year I rebuilt the electronics shelf, added two fans to keep the windows clear, built a magnetic knife holder, added a flashlight mount, added a ventilation fan to reduce moisture in the hull below the berth and added a few rod holders). I'll make a few more mods this winter but after that, I think I'll have the boat pretty close to "done". Still I probably spend $1k each winter doing something to the boat in an attempt to optimize it.
2) Amortization of the things that will eventually need replaced - in particular the twin Honda engines. We probably put around 250 hours on the engines/year. With luck and good maintenance, we'll get 2500 hours out of them. MSRP on each engine is $14,500 but I can probably get them for around $12k. Fully rigged and installed, it will be around $14k/engine = $28k total. Amortized over 10 years, that's $2800/year. The upholstery is starting to get a big raggedy and the canvas back will probably need replaced in a couple of years. Amortized over the lifespan those things are probably a few $100 per year.
3) Fishing tackle that I probably wouldn't buy if I didn't own a boat... I hope my wife doesn't read this but that's probably $300-$500/year.
The point is, it adds up pretty quickly. Even if you don't include all the fishing related costs, the pure boat operating expenses can easily hit $10k/year if you use it a lot. My buddy and I went in as partners on the current boat and we each toss $500/month in our joint boat account. We go through that easily (but we pay for the ferry trips and sometimes cabin accommodations from that account).
blackvelvet
Member
Compare, compare, compare.
Look at other exact same boats for sale. Don't limit yourself to the area where you live. The west coast and east coast of the U.S. are a fair parameter of current prices and the differences of prices on same model boat. If your selling, the west coast is the best market where the same boat will sell for less on the east coast.. If buying, the east coast is where the best deals seem to be.
scott craven
Well-Known Member
I guess a lot of factors come into play
but I would not include these as operating costs, even though they are related to the overall boating experience.
Moorage - $900
Detailing once/year $750
Vacuum packing bags $300
Bait/Ice - $960
T
tortuga
Guest
A boat is worth what someone is willing to pay you.
Not a penny more.
Not a penny more.
Peahead
Well-Known Member
X2 exactly. After doing lots of research while searching for boats in the USA (and comparing similar boats selling in BC) I realized I was becoming quite experienced at spotting a fair price in the USA ( and BC) very quickly and could confidently pursue a boat to the next step. Also it became quite easy to price a similar boat for sale in BC. Put a price tag on the boat that is close to the value you have researched ( perhaps more than you expect to get if you are not in a hurry) and then work price down if you wish ,until you get bites. Simple really.
A $300 survey done on my latest boat from NY stated the boat's present value and it seemed quite accurate as compared to what I had become to know about this particular boat in the eastern USA. The USA survey valued the package ( in NY) at about 10% more than I paid which confirmed what I already expected. Approx 45% less than BC value/cost.
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Peahead
Well-Known Member
Are you saying you don't include moorage as a boat expenses each year? I am spending $4,500 per year on moorage on one boat and $10,000 per year moorage fees on another. The 10k moorage is for a charter boat and such is a boat business expense . Just curious why you would not include moorage costs as a boat expense ? No boat, no moorage expense...... hiding the actual running costs from you wife maybe ? ;-) hehe
arima arima
Member
I think another factor is the cost of the fish your catching, Ie 250 pounds of salmon @ 10-15$ a pound = 2500-3750$ halibut as well. I mean, I break way more then even on my yearly catch alone this is money you would be paying for in food..
crab
prawns
halibut
salmon
Some serious money if your doing well.
crab
prawns
halibut
salmon
Some serious money if your doing well.
scott craven
Well-Known Member
Peahead
Well-Known Member
Not to pound this topic to bordem, forgive me but actual costs to run a boat is kind of an interesting topic to me.....
Moorage isn't necessary, true, however getting your boat into the water is ......I suppose if you have "free" boat/trailer storage at your home that lowers a trailer's cost to keep and maintain but even if its kept on your own property its using up valuable property space and a portion of the property tax or property rent incurred each year.
In strait comparison with moorage costs vs trailer for me I was paying 125-150/ month for trailer/boat parking plus trailer mantenance/repairs and insurance - not hugely different than just having moorage cost an no trailer especially when you add extra fuel (and wear) for your vehicle when trailering the boat to the marina every use.
Either way you pay to store your boat and to get it onto the water each day.....
Moorage isn't necessary, true, however getting your boat into the water is ......I suppose if you have "free" boat/trailer storage at your home that lowers a trailer's cost to keep and maintain but even if its kept on your own property its using up valuable property space and a portion of the property tax or property rent incurred each year.
In strait comparison with moorage costs vs trailer for me I was paying 125-150/ month for trailer/boat parking plus trailer mantenance/repairs and insurance - not hugely different than just having moorage cost an no trailer especially when you add extra fuel (and wear) for your vehicle when trailering the boat to the marina every use.
Either way you pay to store your boat and to get it onto the water each day.....
spring fever
Well-Known Member
Wasn't going to chime in on this one but nobody has mentioned this. If you have covered storage like I have and trailer your boat over long distances then maintaining a trailer is a huge expense. The guys that don't do it will find it hard to believe. I trailer from Winter Harbour(cole harbour) in the north to Barclay sound out of Comox a total of 6000 km a year. New backing plates every 3 years, the occasional actuator, new seals every year, hub oil, brake fluid, Bearings and grease if needed. Tires -I need a new set next spring-$650-new springs every 6 years or so. I do all my own trailer service-not rocket science but it is dirty and expensive if somebody else does it. Ten Thousand is probably not out of the realm of reason if you run a good sized boat off-shore and want to be safe.
scott craven
Well-Known Member
I think it's all relative, the bigger you go the higher the costs are associated.
If you do have a big rig moored and do a lot of off shore fishing, your costs
including insurance,fuel,and associated gear go up dramatically in comparison
to the guy who has a 17' boat on a trailer parked in his yard that fishes locally.
If you do have a big rig moored and do a lot of off shore fishing, your costs
including insurance,fuel,and associated gear go up dramatically in comparison
to the guy who has a 17' boat on a trailer parked in his yard that fishes locally.
barkerfam
Well-Known Member
I know that my fish would be WAY cheaper if I went to the market and bought it than if I go and catch it. I'm sure The cost/pound of fish from my smallish boat approaches $75 or more. But, it's certainly more fun to catch than to buy. And fresher too!!!
Peahead
Well-Known Member
I believe a recent boat sales publication stated the average cost of runnng/maintaining a boat each year should be expected to be 10-15% of its original cost when new. If thats a $100,000 boat then 10-15K per year . If its a $25,000 boat then 2.5-4K per year. So yes it is relative.
If you use it more or less often than 'average' or have the best moorage in town vs "free" back yard storage then of course that %age can vary.
If you use it more or less often than 'average' or have the best moorage in town vs "free" back yard storage then of course that %age can vary.
