Boat & Yacht Market

What Costs Are Associated With Buying a Boat?

There are a variety of costs associated with buying a high-end motor-driven or sailing boat.

Sailing Boat

Here are six of the points to consider before deciding to invest in a preferred type of boat:


The cost of boat insurance can vary drastically in relation to the type and class of vessel, total insured value, and type of cover required. Contact an insurance broker or agent to get an idea of the likely costs. Also, read the terms and condition related to the home insurance policy as it is possible to include a small boat within this coverage. Plus, there are several steps that can be taken to help get the more attractive premiums from underwriters, such as completing a boating safety course, using specific types of locks, limiting the use, and building up a no claims bonus.


Maintenance costs are easily kept at bay with a new or previously well-maintained second-hand vessel. Boats used in salt or freshwater can benefit with a good wash down after each use. Regular upkeep of the boat can vary with the rates charged in different areas. Certain work like winterizing and oil changes can be more involved and therefore these services are more expensive to have completed.

A pre-owned vessel that hasn’t received the best routine maintenance in the past is likely to need more attention and care in the future. A regular wash of the boat is certain to help with minimizing the exposure and long-term impact of the saltwater environment as well general wear and tear.

A proper schedule of boat maintenance will ensure the entire boat is kept fully serviced at all times. Plus, on lay-up, make sure the mooring lines are properly secure and show no signs of rubbing or sun damage.

A bilge pump should be in full working order and built-in with a battery that has enough performance to operate the system for a sufficient period of time.

Mooring fees

Mooring fees relate largely to the type and location of docking, services required (sanitation, electricity, etc.), and length of boat. A popular mooring at a marine berth in a prime location can be extremely expensive and much in demand, while the buoy or offshore mooring can be more cost-effective and widely available.

Oil and gas

A motor-driven boat with inboard or outboard engine can cost quite a lot and put a dent in the finances. Search for the more fuel-efficient rated vessels. For instance, filling a 75-gallon tank on a single engine motor boat can cost in the region of $350-$400. But, for a less fuel-efficient, high-performance powerboat the costs can increase to about $1500-$1850 for a 300-gallon tank. Plus, there are the costs associated with oil changes.

Winter Storage

Winter storage is essential to maintain the condition of the craft, machinery, and accessories. Storage fees also include the hauling, transporting, and conducting the necessary winterization process. A proper winterize process is needed to protect the boat’s cooling and heating systems. Plus, extra services might be completed at the time of storage or de-winterizing, such as giving the boat a power washing session.

Boat & Yacht Market

NADA Boats: Marine Appraisal Guide

If planning to purchase a second-hand Sailboat – Motor Cruiser – PWC it is advisable to research the market value to help in the decision-making process. That is when the National Automobile Dealers Association (NADA Boats) appraisal guide comes into force.

Establish a Given Vessel

Often a subjective figure, establishing the market value of a used boat is determined by several different factors.

  • Find a similar make and model of craft in numerous print or online classified ads to get a basic understanding of the saleable price
  • Use a pricing service or marine appraisal guide to help research the value.
  • Contact a boat dealership to ask for their option
  • If high in value ($25,000+), it might be worthwhile using the services brokerage service to help in the sale
  • On aged, high valued, or vessels of a particular model, it is often a benefit to arrange for an out-of-water survey and valuation report to be carried out.

NADA is designed to evaluate prices on boats and personal watercraft (PWC) in the pre-owned market, in addition to several boat related accessories, such as the outboard motor and road trailer.

Establishing the market value of a used boat is much easier with a marine price guide with its ability to help either seller or buying in establishing a fitting sell-on price for a given object.

Even with the help of the NADA boats, it is still important to use some common sense on receiving a suggested value, and not to take that value as literal. Once the application form is complete, the price indicated relates to the average retail price. So for instance, if a 2010 Larson runabout is kept in first-class condition with minimal use, it is likely to have a market value higher than the price indicated in the guide. Guide prices are closer to the truth with boats or PWC aged at less than 5-years.

Other Factors to Note in Buying a Boat

  • Establish its prior use – crafts used in saltwater, ex-charter boats, etc – often have lower re-sale values.
  • Have a craft inspected by a qualified mechanic or surveyor to determine its overall seaworthiness.

NADA boats is a recognized name in the marine industry for appraising recreational vehicles (Power Boats – Sailboats – Personal Watercraft) and related accessories and dates back its pricing to 1980 and older. A boat guide offers a quick, effective method to determine value and decide if the time is appropriate to invest in an up-grade or to stick with an existing craft until more favorable financial conditions present themselves.

Elsewhere, use a secondary service, such as, to avoid hidden problems. Get a vessels history to guard against unknown problems or potential damage; information obtained includes accident reports (fire, submerged, hurricane, salvaged, run aground, collision, etc), as well as reports on seized or recalled vessels.

Besides the invaluable tools for appraising values, NADA also offers a lot of other resources, services, and products, such as informational articles, tips and advice on matters related to the purchasing process – make it as easy as possible for the consumer.

NADA Boats – Marine Appraisal Guide Example:

NADA Guides price report for a 2003 Trophy Boats 2352 WA – 23-ft

In Summary

NADABoats is highly reputable and well-known in the world of appraising the value of boats and equipment (aged 1980 to now) in the market. By using the prices published in this boat motor appraisal guidebook, you are able to make an informed decision on when might be the right time to up-date or stay with an existing vessel until the market conditions start to show more encouraging signs.

Visit the official site: for more information.