SailNet Community - View Single Post - Market value vs replacment cost
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Old 12-02-2006
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labatt labatt is offline
I'd rather be sailing
 
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labatt will become famous soon enough
Your insurance company, most likely, will go by market value. It's a buyer's market. Don't let the emotions sweep you up. The boat I bought was originally listed at 179k, then 154k and I bought it for less (which was actually a great deal). Other similar boats on the market were going for about 150k. With the number of boats on the market today, I'd keep looking. The longer the boat is on the market, the more motivated the seller will be. I worked with a broker and asked him to find me boats that had been on the market for 8+ months.
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