Understanding Boat Trade in Values

Published February 19th, 2024 by Bernardo

Getting the highest boat trade-in value can make all the difference to getting the boat of your dreams sooner rather than later. That's because an experienced boat broker is usually more eager to keep your business instead than those seeking a one-time transaction.

Nautical Ventures has become the most trustworthy boat broker in Florida because we extend the courtesy and transparency new and lifelong customers deserve. Read on to learn how to get maximum boat trade-in value in and around Fort Lauderdale, Tampa Bay, Palm Beach, Sarasota, and Stuart.

Private Sellers vs. Using a Boat Broker in Florida

Selling a boat on the open market may seem like a good idea until you add up the unforeseen costs and uncertainties involved. If you plan on converting the profits to a new boat, it's usually better to use your boat's value for maximum negotiating leverage with a reputable boat broker.

They're more likely to have earned a community-wide reputation for fair and honest business based on accurate fair-market values. The most reputable boat broker in Florida will even help you learn how to accurately assess your boat's value—because they know long-term success depends on happy customers.

What Affects the Value of My Boat?

Boat trade-in value is affected by several factors. Comprehensive evaluations usually allot for significantly higher trade-in value, especially if the boat broker has their own inventory they're motivated to sell.

Still, you'll want to know how to double-check the boat's value for maximum buying confidence—and it's a skill that comes in handy when on the other side of the negotiating table. Begin with the most important considerations first, which will include the following for almost any boat:

  • Type and size of boat
  • Overall condition (including the hull, mechanical, passenger area, etc.)
  • The boat's age and mileage
  • Depreciation rates
  • Any lingering service needs
  • Added features or upgrades
  • Possible dealer fees for registration and other paperwork

An alternative is hiring an accredited marine surveyor. Although they perform reliable work, be aware it will cut into your profits to the tune of $16–18 per foot of boat length.

The fastest way to get a solid trade-in estimate is to ask for a complimentary evaluation from an experienced and passionate boat broker. 

In Florida, Nautical Ventures takes every consideration to heart during our quick and accurate assessments.

Boat Valuation Guides

With all this in mind, there are several boat valuation guides. 

At Nautical Ventures, we rely on a combination of guides to assess boat trade-in value, including NADA, BOS, ABOS, and Kelly Blue Book's pricing guide for watercraft. In some cases, private listings might temporarily affect trade-in value because they affect the local boating market differently than wider regional markets.

Location & Other Considerations

The location also matters because the local climate and the type of nearby waters affect a boat's immediate usability and value. For example, Caribbean island hopping requires something much more rugged and sizable than lagoon fishing. Take note of which boating activities are popular wherever you seek out a boat broker in Florida.

Further, boats are considered a luxury commodity, and their value is more likely to fluctuate with the overall state of the economy. The best time to sell or trade a boat is generally when other luxury commodities are performing well.

Finding a Trusted and Reliable Boat Broker in Florida

In South Florida, there are hundreds of boat trades every day. Why expect anything less than top value from your boat—especially if you're looking to upgrade to something new?

Even though the Florida boating market is competitive, it carries a number of advantages for those who can most accurately assess boat trade-in value. 

Contact us at Nautical Ventures to learn how we've become the most trusted boat broker in Florida. We offer lightning-fast and accurate trade-in assessments based on the most robust boat market data in the industry.

Nautical Ventures a Boutique Brokerage Approach

Published June 1st, 2017 by Bernardo

Recently the NMMA, National Marine Manufacturers Association, reported that the US boating industry, is seeing the highest sales in nearly a decade. Sales of yachts (33’ and higher) saw gains of 3.5 percent, reaching a seven-year high of 1,715 units in 2016. BOAT International reported over 100 sales of yachts over 78 feet in the first quarter of 2017, up 8% from 2015. When in the market to purchase or sell a larger vessel, utilizing the services of a yacht broker will help navigate the sometimes lengthy and involved process.

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