ASA and PSIA Instructor
Join Date: Apr 2000
Thanked 37 Times in 37 Posts
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The best source I know of is the history of sold boats available to brokers on Yachtworld.com. If you are not working with a broker, you need to hit one up for a favor.
However condition and equipment cause a great variation in the value of a particular vessel, so if you are able to get sale prices, you need a copy of the listing and some insight into condition to be able to create the appropriate adjustments to develop a value for the particular boat you have in mind. Its just like with buying a house: comparing three bedroom, two bath ranches gets you a broad range of values...to make any use of the information, you need to adjust for factors like: busy street, big yard, needs new roof, has central AC, freshly painted, etc...
I create an Excel spreadsheet to track and organize adjustments on sold values, if you do this properly and get 4-8 comparables, you can start to makes sense out of the data, and come to a reasoned value for the unsold boat.
Then you need to decide how badly you want the boat, but you at least know where you should be price-wise.
Asking prices, or even sale prices of similar boats that you cannot adjust, are pretty useless.
Certified...in several regards...