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) Examine the boat's hull: Examine the hull and carefully and look for any cracks or chips in the gel coat. Look for any evidence of blistering or fading. If the boat it is out of the water, do also look beneath the waterline for recent maintenance work and antifouling.
2) Take a hard look at all the hatches, and at the areas where different parts of the boat are joined together. Everything should fit well, not be warped by humidity, and be impermeable. Open and close all hatches and sea locks, checking that they are in good shape and well maintained.
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) Check the radio as well as all the electrical equipment, the batteries, and all switches. Make sure that everything works and is in good order, and that there is no excessive wear and tear.
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) If there are any wooden parts on the boat, examine them thoroughly as repairs and replacements of these can be quite expensive. Is anything warped by dampness, faded or chipped? Have there been some previous restorations that were badly executed?
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) What accessories will be part of the deal? Make sure to make an inventory of all the extras, and evaluate them to their fair used material price. This could make a serious difference to end value, especially if a lot of electronics are part of the deal.
10) Don't neglect to look at the safety equipment. Not only do you want to ensure that it's present and in good order, but its state of maintenance will shed light on the care that the previous owner put into the boat, which is an important consideration for boat evaluation.
1) Examine the boat's hull: Examine the hull and carefully and look for any cracks or chips in the gel coat. Look for any evidence of blistering or fading. If the boat it is out of the water, do also look beneath the waterline for recent maintenance work and antifouling.
2) Take a hard look at all the hatches, and at the areas where different parts of the boat are joined together. Everything should fit well, not be warped by humidity, and be impermeable. Open and close all hatches and sea locks, checking that they are in good shape and well maintained.
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) Check the radio as well as all the electrical equipment, the batteries, and all switches. Make sure that everything works and is in good order, and that there is no excessive wear and tear.
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) If there are any wooden parts on the boat, examine them thoroughly as repairs and replacements of these can be quite expensive. Is anything warped by dampness, faded or chipped? Have there been some previous restorations that were badly executed?
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) What accessories will be part of the deal? Make sure to make an inventory of all the extras, and evaluate them to their fair used material price. This could make a serious difference to end value, especially if a lot of electronics are part of the deal.
10) Don't neglect to look at the safety equipment. Not only do you want to ensure that it's present and in good order, but its state of maintenance will shed light on the care that the previous owner put into the boat, which is an important consideration for boat evaluation.
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