Evaluate a boat you want to buy

We've all heard it a million times: Buyer Beware! That may never be truer than when buying a used boat and therefore having to determine its value. First time boat buyers may be able to find a great deal from a private seller, but your best bet is heading to a reputable dealer to find a good quality used boat at a fair price. Experienced boat owners may opt to forgo the dealership in lieu of finding a great deal elsewhere.

Whether you decide to risk buying your first (or next) boat from another boat owner, or from a dealer, there are a few things to do to determine the value of a boat, which are necessary when purchasing any used watercraft:

Ask for a detailed maintenance history so you can see firsthand what kind of major repairs have been made in recent months. Also, find out who handled the repairs, so you can ask them what type of work maintenance may be need in the future.

It's a good idea to have a qualified marine mechanic thoroughly inspect any boat engine before purchasing it. To find a marine surveyor call either the Society of Accredited Marine Surveyors - SAMS. This can be pricey however, and some boat buyers decide to go it alone. At the minimum, do-it-yourself inspectors should always check the following: spark arrestors and plugs; the alternator; belts; hoses; strainer; blower; shift cables; and engine alignment. Also check for warping, cracks, or nicks on the propeller, as these can hinder performance and diminish the value of the boat.

Make sure the hull is in good condition. Tap on it all the way around to make sure it is consistently solid. Check carefully for mismatched paint (this could be a sign of a previous accident), and also gel-coat blisters and dry rot - more signs of potential trouble.

How has the boat been stored while not in use? Dry storage is best, but a well-kept outdoor stored boat shouldn't be discounted.

Check for ripped seams and colour fading in the upholstery. Of course how much of this you can tolerate is solely up to you.

Always ask if there are any extras that come with the purchase. You may be surprised at what the owner may throw in to seal the deal: a depth finder; a stereo; a radio; life jackets; or even an anchor. Either way, it can't hurt to ask.

Finally, find the boat you are looking at in a boat value guide such as NADA, BUC or the Blue Book, to see what the current market value is for an average boat of that kind of a certain age. Remember, if it is priced too low, the vessel may have unseen problems. And if you trust the owner, ask why he's selling it for so much less than book value. If his answer makes sense, count yourself lucky. You just found a great deal!

Buying a used boat is much like buying a used car: you have to take your time, not let your emotions rule the sale; and be clear as to what you want and how much you're willing to pay for it.