Find the best professional to assess the value of your boat!

When determining the value of a boat it is a great idea to enlist the help of a professional, especially if your craft is worth fifty thousand dollars or more. There are four kinds of people that you can call on for help - brokers, dealers, marine surveyors and 'informal' professionals.

A yacht broker is like a real estate agent, their main job is to market and sell your boat to potential clients. They are compensated on a commission basis (usually 5-12% of the selling price. the lower the boat value, the higher the percentage charged), and also handle the paperwork for the sale. If you plan to sell your boat through a broker it's a good idea to get his value appraisal and base your asking price on it. Make sure that you employ a broker that specializes in boats similar to yours, since he will have specialized knowledge and also contacts to the right groups of buyers.

A Dealer is similar to a broker, although he only represents one or few brands rather than all brands from a certain kind of marine vessel. There are differences between the two types that can affect you as a seller of a boat and, for that matter, as a buyer. Dealers are already specialised so they are a good bet to sell fast and attract the right buyers, and can also easily help you to swap your boat for a similar one.

The main risk with dealers is that you used boat will end up as a "loss-leader showcase". Often, new boats are sold to buyers who were originally intending to buy used. Some dealers therefore use their used stock to attract buyers that they can then try to convert to new sales. Beware the Dealers who are offering remarkable terms to sell your boat - it may just end up gathering dust.

Besides the sales commission, don't forget that you may incur charges for storage, cleaning, sea or river trials, et cetera. Read your agreement with the broker or dealer carefully before signing, to make sure that there will be no hidden charges.

The advantage of using professionals for the sale is that they will deal with the advertising, sea or river trials, with negotiations and the paperwork; they're usually insured for fraud, so you will not need to worry about the credentials of the buyer.

Brokers will tend to slightly over-estimate the value of your boat, and this is especially true if the boat is on good condition. An alternative, either as a single valuation of you are selling the boat privately, or to have a second opinion if you are selling the boat through a broker, is to use a marine surveyor.

In most cases the buyer of your boat will pay for a marine surveyor, who will conduct an assessment of the boat value and of the condition of the boat. As this can be used to negotiate the price downwards, and as buyer-employed surveyors will tend to suggest monetary compensation for any problems that are discovered, it is good to have your own survey done beforehand. Also, a pre-sale survey will allow you to get problems fixed before advertising the boat - and in most cases it will be worth getting the repairs done before you sell the boat.

Finally, don't forget the fourth kind of professional to assess boat values - the informal expert. Ask any grizzled old hands for their opinion, but treat it with a pinch of salt. It is best to ask for more than one expert mariner if you want to enlist their help to value your watercraft.