As a buyer you’re likely thinking, what’s my resale potential on any large purchase. When buying a boat you’ll find there are several things to look at when considering the resale potential later in time. Here’s the top few considerations to make when buying and selling a boat.
Jordan LoNigro
Video Producer / Content Creator
When it comes to selling a boat, owners often find themselves searching ways to discover the resale value. Understanding the factors that influence how well a boat holds its value can be crucial for those looking to upgrade or part ways with their vessel. In this article, we'll explore key elements that play a significant role in determining the resale value of a boat.
First off, the age and condition of your boat are clearly essential components on the value of a boat. Just like with cars, newer boats generally command higher prices. However, a well-maintained older boat can still grant a good price, emphasizing the importance of regular upkeep and maintenance. First impressions matter, and a boat's appearance is no exception. Regular cleaning, waxing, and upholstery care can help maintain the boat's aesthetic appeal. A well-kept exterior and interior can make a significant difference in attracting potential buyers and securing a higher resale value.
The brand and model of a boat can heavily influence its resale value. Established and reputable brands often hold their value better than lesser-known counterparts. Popular and well-regarded models are also more likely to attract buyers and retain their value over time.
The condition and performance of a boat's engine and mechanical systems significantly impact its resale value. Regular engine maintenance, low engine hours, and documentation of service records can enhance a boat's marketability and resale value.
Buyers are more likely to invest in a boat with a well-documented maintenance and service history. Regular check-ups, repairs, and upgrades contribute to the overall reliability and longevity of the vessel, which can positively influence resale value.
Another key component to the value of your boat is if you have made upgrades to your boat. Upgraded boats tend to have higher resale values. From advanced navigation systems to upgraded interiors, these enhancements not only improve the boating experience but also contribute to a boat's appeal on the resale market. Understanding what buyers are looking for and staying current with market trends can help sellers position their boats favorably.
One way Sportsman helps their customers receive the highest resale value is by making nearly everything on the boat standard. The items that most brands would consider options are standards on each Sportsman such as a standard 12-inch Garmin MFD or Seakeeper Ride. Unlike an upgrade these are standard features built into the MSRP of each boat. Think of it like a lift and upgrade wheels on your truck, a dealer might give you a little extra but ultimately they're not adding much over what the blue book value of your car is. This is the same for boats, the boat blue books based upon the OEM standard features, not the added options. While a competitors customer may spend as much on their boat as a Sportsman owner does, the Sportsman owner is going to receive the higher resale value due to what is OEM standard.
Selling a boat involves a combination of factors that contribute to its resale value. Owners looking to maximize their returns should focus on regular maintenance, keep up to date of market trends, and invest in a boat that comes standard with as many features as possible. By considering these key factors, boat owners can navigate the resale market with confidence and ensure a smoother journey toward a successful sale.
