A broker can look up and see what the lisiting and selling prices for similar boats have been and see how long they were on the market. This will be the most accurate information available. Of course, the broker will probably want to list the boat in order to disclose this information.
The numbers in the JD Powers database seem to be a good starting place for the asking price.
How are the numbers from JD Powers determined? The YachtWorld data is based on actual selling prices as one of the requirements for member brokers is to disclose asking and selling price and time on market.
How are the numbers from JD Powers determined? The YachtWorld data is based on actual selling prices as one of the requirements for member brokers is to disclose asking and selling price and time on market.
I obtained the “sold boat” data from my local Beneteau dealer. They gave me a print out for my model & years it was produced. I told them that I wanted an estimated value for insurance valuation purposes. I had to have the boat surveyed for insurance purposes & wanted assurance that the surveyor got the valuation correct.
Also obtained “sold boat” data from a surveyor, that I had previously used, when I was researching another boat for potential purchase.
Also obtained “sold boat” data from a surveyor, that I had previously used, when I was researching another boat for potential purchase.
I put my O’Day 322 into the JD Powers calculator…came out a little higher than I expected (but that is “retail”) I guess.
Not a bad starting price as you know people will want to negotiate it down.
On another thread there was some discussion about “salt water” vs “fresh water” boat prices…
JDP says salt water can reduce price 10-15%.
Greg
Not a bad starting price as you know people will want to negotiate it down.
On another thread there was some discussion about “salt water” vs “fresh water” boat prices…
JDP says salt water can reduce price 10-15%.
Greg
After @JamesG161 posted the link to JD Powers, I ran a valuation on my boat. Definitely appeared that the value was higher than expected.
I use it on my H430 recently, since Progressive Insurance might Total our boat from Hurricane Zeta damage.
Bottom line they would had to write us a check for $60k.
Thus Insurance Company use this valuation too.
Banks use this for Loan values.
Jim...
Bottom line they would had to write us a check for $60k.
Thus Insurance Company use this valuation too.
Banks use this for Loan values.
Determined by the Market.
Jim...
Of course. But what sample of the market and who's reporting? Yachtworld requires its brokers to report the data. I doubt JD Powers requires brokers to report data, so where are they getting it from?