Determining a Boat's Value

[sailingmonika]

My husband and I have been out of the mono hull sailboat market for 7 years. The last boat we owned was a Beneteau 40. A demo boat from a dealer that was going under. We did the sale with the bank and Beneteau. We got the boat for a great price. Now in the market again, we are looking at a 2016 Jeanneau 519 that has been in light charter use. From the looks of it it shows very little wear, remarkably little considering its charter use. Our boat was 4 years old when we sold it and this one looks just as good. The owner required a captain, which is probably why it looks so good.



Who is best qualified to help us determine a good price. We are willing to be fair but don't want to overpay. Is asking a bank to appraise it the way to go? Do I ask the broker for all the sales of that model for the last year?


The owner is getting out of sailing so they are throwing in a lot of extras, dinghy and motor, life jackets, fully equipped galley.


Is there a Blue Book for boats like for cars. Any new tools on the internet?


Thanks all.

[billknny]

Not exactly a "blue book" but you can scan LOTS of similar boats for their asking price on YachtWorld.com. This is the standard site for brokerage boats, and it doesn't tell you the selling price, just the listing price. It will quickly let you see if you are in the right ballpark.

[S/V Adeline]

Are the NADAGuides pricing for sailboats reasonably accurate?

[sailingmonika]

Looks like you can get a 1 month subscription for $99 if they are, did not want to buy unless they really are accurate. It says surveyors use them.

[billknny]

Surveyors don't need accuracy in pricing. They need a reference they can point to if there is a question.

NADA can be a useful resource, but really only for very common boats with lots of transactions. as boats get older the spread if prices becomes so large that the reported values aren't a lot of help above the range of asking prices.

[S/V Adeline]

Originally Posted by sailingmonika

Looks like you can get a 1 month subscription for $99 if they are, did not want to buy unless they really are accurate. It says surveyors use them.

I have always checked NADAGuides.com/boats and filled out the information. Gives a low-high price range.

[S/V Adeline]

Originally Posted by billknny

Surveyors don't need accuracy in pricing. They need a reference they can point to if there is a question.

NADA can be a useful resource, but really only for very common boats with lots of transactions. as boats get older the spread if prices becomes so large that the reported values aren't a lot of help above the range of asking prices.

For older boats like mine I consider NADA a hull value guide (any options you list will be considered as old as the boat)
FWIW, NADA valued our vessel (1979) at almost exactly 1/2 what insurance said it was worth. It's basically 'stock', nothing fancy added.

[Paul L]

Use Yachtworld to get a list of currently listed Jeanneau 519 and their asking price. Get a list of sold prices over the last 2 or 3 years from a broker. Then starting with the sellers asking price as a max, make an offer. There are so few transactions of these specific boats, that each one is as an individual deal to be made.

[Island Time O25]

Something else to consider also. If the seller used the boat as a business related depreciated asset AND is in higher tax bracket he may have some tax consequences which may make the lower agreed upon price more palatable. After all most people would rather pass on the savings to someone they know personally and like then pay the same amount to the gov't.

[nightowle]

Most brokers have access to soldboats.com which is part of boat wizard. They can see the historical listing price of the boat in question, the sale price, as well as the time on the market. This is not a comprehensive list of all boats sold of that model, but certainly most. Take into consideration local geographic modifications to price. For example, boats sell for a premium in the pacific northwest.

[YachtBroker]

See broker only access to sold boats below. This is from Jan 2019 till now.
There is not a lot of them sold. I know the one sold in TX was a trade in so it sold low
TOTAL NUMBER OF SOLD BOATS: 772,377


Selected Search Criteria:
Mfgr/Model : jeanneau (11224)
Sold: Since Jan 01, 2019 (34967)
Length: Between 51 ft and 52 ft (6882)
Total records found: 6
Click on one boat to view the full listing, or view full listings for all the boats on this page.

Revise Search


Items: 1 - 6 of 6 Page 1

Length Boats Year Listed US$ Sold US$ Location YachtWorld Member
* 52' Jeanneau 53 2010 210,527 (02/16) 200,502 (01/19) Croatia Almissani d.o.o.
* 52' Jeanneau Sun Odyssey 52.2 2000 239,000 (06/18) 225,000 (09/19) CA, USA Rubicon Yachts
* 51' Jeanneau 51 2018 681,000 (09/17) 495,000 (11/19) IL, USA Larsen Marine
* 51' Jeanneau 51 Yacht 2018 439,000 (12/18) 390,000 (08/19) NS, Can Sunnybrook Yachts
* 51' Jeanneau 51 Yacht Series 2018 429,900 (07/19) 350,000 (11/19) TX, USA Galati Yacht Sales
* 51' Jeanneau Sun Odyssey 519 2017 297,411 (04/17) 267,336 (05/19) Greece Tiltanit Ltd
Items: 1 - 6 of 6 Page 1



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[sailcrazy]

following

[MJH]

Originally Posted by sailingmonika

My husband and I have been out of the mono hull sailboat market for 7 years. The last boat we owned was a Beneteau 40. A demo boat from a dealer that was going under. We did the sale with the bank and Beneteau. We got the boat for a great price. Now in the market again, we are looking at a 2016 Jeanneau 519 that has been in light charter use. From the looks of it it shows very little wear, remarkably little considering its charter use. Our boat was 4 years old when we sold it and this one looks just as good. The owner required a captain, which is probably why it looks so good.

Who is best qualified to help us determine a good price. We are willing to be fair but don't want to overpay. Is asking a bank to appraise it the way to go? Do I ask the broker for all the sales of that model for the last year?

The owner is getting out of sailing so they are throwing in a lot of extras, dinghy and motor, life jackets, fully equipped galley.

Is there a Blue Book for boats like for cars. Any new tools on the internet?

Thanks all.

I have always liked the BUC books for boat pricing. It is reportedly used by boat dealers and they use actual sale prices...visit a couple of dealers and see what they say your boat is worth as a backup position if you don't have any luck selling it yourself. BUC is now also on the Internet. My local library had them on the shelf when I was looking for my current boat but they discontinued the subscription. Their subscription prices are high and I haven't checked lately.

I don't like the layout of the NADA and like others have said they mainly carry only the most popular production boats. They don't list my boat anymore and when they did it was in a ketch configuration which the boat was never made in...I don't trust them.

Prices for older boats will vary quite a bit depending on condition.

Another suggestion is to visit all the Internet boat sites to gather current asking prices and see about where yours fits in.

Good Luck.

~ ~ _/) ~ ~ MJH

[Cadence]

Originally Posted by billknny

Not exactly a "blue book" but you can scan LOTS of similar boats for their asking price on YachtWorld.com. This is the standard site for brokerage boats, and it doesn't tell you the selling price, just the listing price. It will quickly let you see if you are in the right ballpark.

It may be a starting point however YachtWorld listing prices often look way to high.

[grantmc]

Originally Posted by YachtBroker

...
Length Boat Listed US$ Sold US$

52' Jeanneau 53 $210,527 $200,502 reduced by $$10K (5%)
52' Sun Odyssey $239,000 $225,000 reduced by $14K (5%)
51' Jeanneau 51 $681,000 $495,000 reduced by $186K (27%)
51' Jeanneau 51 $439,000 $390,000 reduced by $49K (11%)
51' Jeanneau 51 $429,900 $350,000 reduced by $79K (18%
51' Sun Odyssey $297,411 $267,336 reduced by $30K (10%)

Some interesting numbers.