Valuations

[John Hosty]

Does anybody have any thoughts on how I might be able to find historical fair market values? For example, what was the FMV for a 2006 H41 in 2008 and 2011 ...

Thanks to all as ever

John

 

[Don S/V ILLusion]

Using the commonly available reference data in BUC, etc. is pretty useless and can be misleading. About the only way I know of to obtain real market value is through looking at actual sales prices to which only brokers have access and even that can be skewed by brokers misrepresenting actual sales figures.

 

[Stu Jackson]

Don's right. Asking and selling prices can vary wildly, or be very close.

Please help us understand why you need to know a 2006 boat's price in 2008 and 2011, though. That historical data would, I believe, be almost impossible to find.

The older a boat is, the more important its condition is related to sale price.

 

[John Hosty]

Don's right. Asking and selling prices can vary wildly, or be very close.

Please help us understand why you need to know a 2006 boat's price in 2008 and 2011, though. That historical data would, I believe, be almost impossible to find.

The older a boat is, the more important its condition is related to sale price.

Because the damn Taxman is after me

 

[KD3PC]

If you have an insurance survey from those years or shortly before/after, or a pre/post sale survey (when you bought the boat) along with receipts, they can be used to establish value

 

[Steve Dion]

Check out the NADA guide. It may help establish a reasonable value.

 

[Benny17441]

The same way you may not be able to find the fair market value for those years the Taxman will be unable to find them also. Get yourself representation that can argue and dispute their findings and hope for a fair settlement.