When considering whether to independently determine the value of a boat before buying or selling, you may find the following evaluation checklist of help. We also suggest that you do this appraisal together with a friend as four eyes see better than two. You can use this checklist when looking at the vessel, to help you examine the condition of the boat, and to spot repairs or improvements that may be necessary to take into account before settling on a final price.
1) Start with the boat hull and understructure. Are there any scrapes, cracks, signs of badly executed repairs, or fading? All these will negatively impact the boat value. Please note that the hull is best examined with the boat out of the water.
2) Next, look at hatches and fittings on the superstructure. Ideally, everything should fit well, be watertight, in good condition and not warped by dampness. Any exceptions to this warrant a discount on the total price.
3) Check engine(s), steering & transmission: Check that the steering and throttle control cables are in good condition and that the wheel moves freely (and without squeaking) and that the transmission smooth, from forward, to neutral, to reverse. Check the oil level of the engine and examine the colour and texture of the oil. If it's grainy or gritty, they're possibly tiny slivers of metal that indicate potentially serious mechanical problems. If the oil has a slightly milky appearance, it signifies that there is a water leak into the engine.
4) Test electrics & switches: Test anything that has a switch or a handle, to see that they function correctly, in particular navigation lights, horn, bilge pumps, internal lights, winches, heating, generator, cooking facilities, taps, toilets. Also check all electrical cabling, looking for any signs of repair, temporary fixes, rust and loose connections.
5) Check the bilges for watermarks and signs of oil leaks: Check the bilges, beneath the engine for water ingress and for oil. If oil is present, it's a sign of an engine oil leak. Also look for water stain lines inside the boat or inside any engine compartment. If they exist, it would indicate that there has been some kind of flooding.
6) What condition are the external surfaces in? Examine all external surfaces with care. This includes the gel coat, the woodwork and the upholstery. Some wear and tear will be inevitable, but they will reflect the general condition of the boat. If you are the seller, it can make sense to change the upholstery as this is an inexpensive upgrade that can add more value to the boat than it will cost you.
7) What condition is the woodwork in? You should especially be on the outlook for any damp spots; in general these are darker than the surrounding wood and will be soft to touch. Do also check for warped, chipped and loose woodwork.
8) For sailing boats, check the sails and the rigging . Check that all the sails and rigging (including spares) are in good condition; do not only look for evidence of repairs, but also make sure everything functions easily and flows freely.
9) Are accessories included? If yes, what equipment is on board? Check whether accessories and other equipment are part of the deal. The new owner is going to need them anyway, so it's usually of advantage to both parties to include them (unless the seller needs them for another boat).
10) Check the safety equipment: Pay special attention to the boat's safety equipment, whether or not it is included - if it is complete and in good shape, there are good chances that the boat has been kept in good order.
1) Start with the boat hull and understructure. Are there any scrapes, cracks, signs of badly executed repairs, or fading? All these will negatively impact the boat value. Please note that the hull is best examined with the boat out of the water.
2) Next, look at hatches and fittings on the superstructure. Ideally, everything should fit well, be watertight, in good condition and not warped by dampness. Any exceptions to this warrant a discount on the total price.
3) Check engine(s), steering & transmission: Check that the steering and throttle control cables are in good condition and that the wheel moves freely (and without squeaking) and that the transmission smooth, from forward, to neutral, to reverse. Check the oil level of the engine and examine the colour and texture of the oil. If it's grainy or gritty, they're possibly tiny slivers of metal that indicate potentially serious mechanical problems. If the oil has a slightly milky appearance, it signifies that there is a water leak into the engine.
4) Test electrics & switches: Test anything that has a switch or a handle, to see that they function correctly, in particular navigation lights, horn, bilge pumps, internal lights, winches, heating, generator, cooking facilities, taps, toilets. Also check all electrical cabling, looking for any signs of repair, temporary fixes, rust and loose connections.
5) Check the bilges for watermarks and signs of oil leaks: Check the bilges, beneath the engine for water ingress and for oil. If oil is present, it's a sign of an engine oil leak. Also look for water stain lines inside the boat or inside any engine compartment. If they exist, it would indicate that there has been some kind of flooding.
6) What condition are the external surfaces in? Examine all external surfaces with care. This includes the gel coat, the woodwork and the upholstery. Some wear and tear will be inevitable, but they will reflect the general condition of the boat. If you are the seller, it can make sense to change the upholstery as this is an inexpensive upgrade that can add more value to the boat than it will cost you.
7) What condition is the woodwork in? You should especially be on the outlook for any damp spots; in general these are darker than the surrounding wood and will be soft to touch. Do also check for warped, chipped and loose woodwork.
8) For sailing boats, check the sails and the rigging . Check that all the sails and rigging (including spares) are in good condition; do not only look for evidence of repairs, but also make sure everything functions easily and flows freely.
9) Are accessories included? If yes, what equipment is on board? Check whether accessories and other equipment are part of the deal. The new owner is going to need them anyway, so it's usually of advantage to both parties to include them (unless the seller needs them for another boat).
10) Check the safety equipment: Pay special attention to the boat's safety equipment, whether or not it is included - if it is complete and in good shape, there are good chances that the boat has been kept in good order.
About the Author:
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