Source for Boat Values

[Max Simmons]

I've recently taken on the role of trustee for an estate of a friend that includes several boats ranging from 14' to 39', years 1972 to 2003 and I need to provide fair market values for each vessel. I checked out the Bucnet guide, but was hoping to not spend the $200 to get this info. Any suggestions?

Thanks

 

[Macrophylla]

Assuming some/all may eventually be sold why not reach out to a broker or two. They can pull comps for you for free.

Or do some digging on YachtWorld and you can at least see asking prices

 

[Pete Meisinger]

I doubt if you will find a printed or even internet source of boat pricing which is at all accurate.

One reason is that West Coast pricing is totally different than say East Coast, or Florida or Great lakes. The other reason is that presently we are in a strong sellers market. This market probably would not be represented fairly in any "Blue Book".

pete

 

[Inbreaker]

If you are acting as a trustee for the estate, you should expect that you're going to have to pay for information or advice about values, at least for the big ticket items you're dealing with. If there is a lawyer assisting, ask her or him about what your fiduciary obligations require before selling assets of the estate. Don't know what the circumstances are about the beneficiaries, but you should be able to demonstrate later that you have done the right thing by the estate.

 

[DavidM]

Yacht brokers subscribe to Yachtworld. The listings part of it is also free to anyone on the net. But yacht brokers also have access to Soldboats, a private part of Yachtworld that gives actual sales prices of very boat that was sold by a broker.

It isn't perfect, you have to make adjustments for equipment and location and you usually have no indication of equipment, but it is the best source of actual, real world data on boat values. Bucnet and NADA don't come close.

Since as trustee you will probably be selling all or most of these boats, brokers should be salivating at the chance to help you price them and ultimately sell them for you. Ask around, interview a few by phone and select one to work with.

David

 

[ksanders]

Actually the only way to get an idea of the boats value would be to pay for a survey.

A boats value, especially 20 year old boats is based on condition, and the only way to determine with any accuracy the current condition of the boats is by getting a survey.

This is also very important because many boats owned by older owners end up getting neglected simply because the owner has reached the stage in life where they just do not have the physical ability to put in the labor to maintain the boat.

That same owner has little need for the money so the boat sits and sits and sits until the owner passes and the executor of their estate ends up in your position.

This may or may not be the case with the deceased owner of these boats, but that just further emphasizes the need to get a professional evaluation ov a boats condition and it's condition based value.

The paying for these surveys is well within the authority and duty of the executor of the estate especially where you have multiple heirs in a percentage based will.

 

[Njlarry]

What are tbe boats models and years and location?