The most common question we get from sellers at OnlyInboards is “How much should I list my boat for?”   This is a very tough question to answer without all the information about the seller and the boat itself.  In this article I am going to cover several topic regarding pricing your boat for sale on OnlyInboards or anywhere else:

NADA – NadaGuides has been a force in the automotive and marine world valuation business for years.  You can use their pricing guides to get the Suggested List Price, Low Retail Price and Average Retail Price.    If you want to find the NADA pricing suggestions for your boat follow this link – https://www.jdpower.com/boats

We are not huge fans of using this as the ONLY source of pricing information.  We tend to think that the pricing fluctuates a little more depending on the time of year, colors, hours, and other options.  The NADA is a good starting point but I would not base my entire valuation of the boat on this alone. Keep in mind that dealers generally will use NADA however as a partial basis for your trade in.

Competition –  We highly recommend you search on OnlyInboards, BoatTrader, Boats.com, Craigslist or any other sites where boats are listed for your exact year/make/model boat.  Find out what others are listing them for, but keep in mind the listing date on the ad.  If you see 5 of your exact model boat listed for around $50k but you find one that is listed for $70K most likely it has been for sale for quite some time.  The problem with only using this method is that boats that are priced aggressively will sell quickly and you may only be reviewing boats that have been listed for a long time (because they are listed too high!).  

However, by finding all the other boats just like or similar to yours, you will be learning where your competition is priced.  If you have a 2010 Nautique 230, you won’t want it to be the highest priced 230 on the market.  And, unless you are trying to sell immediately, you may not want it to be the lowest priced either!

History – OnlyInboards is very unique in that we offer a guide to show what boats have actually sold for.  When a boat is removed from our site, we ask the boat sellers to report their sales price to us.  The sales price goes into a searchable database that you can find at the link below:

SEARCH SOLD BOAT PRICING

A word of caution regarding using the sold boat section of our site.  In 2020 – 2021 the market saw an unprecedented rise in used boat prices.  The demand due to COVID was incredibly high.  So, when searching please be wary of the sale date listed.  As of this writing (Fall 2022) we are seeing used prices come down from these record levels.  Another thing this sold boat section does not account for is boat location. 

Year/Make/Model (age and desirability) – Obviously, this is the basis of where you start.  What we really mean by this is the desirability of the model year and the model itself.  The best way to explain this is through examples.  So, let’s take a 2012 Malibu VLX vs a 2013 Malibu VLX.  The 2013 is going to be much more desirable because Surf Gate came out on 2013 models, whereas the 2012 models did not have any surf system.   Using Malibu as another example, let’s compare a 2006 Malibu VLX vs a 2006 Malibu 21 XTi.  The VLX is a v-drive boat and the XTi is a direct drive.  Even though these 2 boats are the exact same length and may be similarly equipped (tower, same engine, ballast, etc) the VLX will command a much higher price because it is more desirable.  This is due to the rise in popularity of surfing and the decline in popularity of waterskiing (at least as of this writing).  

Here is another good exercise.  Let’s say you plan on listing your boat for $40,000.   What you should do is go search for boats in that exact price range and see what you are up against.  I’m not saying the same year, make, model, just search all inboards in that price range.  If you had $40,000 to spend are there other boats you would consider before yours?  Look at the opportunity cost of a buyer purchasing your boat over others.  Then you can use that to help you determine a good starting price.

Engine, Hours, and Options – Engine options are expensive.  An engine upgrade from the base motor can run up to $20,000 or more.   So, when comparing your boat to others on the market be cognizant of which engine option is in each boat.

Hours are the same way.  If you find a boat in our sold boats section, or for sale currently with 200 hours vs 1000 hours there should be a price difference accordingly.   We also get asked the question, “how many hours is too many hours?”   Well, there is no good answer for this in our opinion.  However, we find that most buyers will be looking for boats with hours ranges under 600.

Options are also key in determining the pricing of your boat.   Depending on the year of your boat options could include:  tower, cruise control, racks, surf system, bimini top, single, tandem or triple axle trailer, stereo system, lighting and more.  When the original buyer of the boat purchased it from the dealer, these items can really add up.  So if your boat is a base model with few options, do not price it comparatively to a loaded one.

Location and Market Conditions – We have found that boats on the west coast seem to sell for more money.  The best deals are commonly found in the Midwest.  However, that is not an end all be all factor.  If you live in an area with a high demand for inboard boats, then you can factor that into your pricing decision.  You would be surprised to find how far buyers will travel for a good deal.  Boats on OnlyInboards have shipped from coast to coast for buyers who find the boat they are looking for.  

Market conditions are also a HUGE factor.  What we mean by that is not only the economy but also the time of year you are listing the boat.  There are more buyers looking for boats in spring and summer than there are in the fall.  In the fall we generally see a high volume of boats hit the market.  Some owners don’t want to carry the note or pay storage fees over the winter while some others may be upgrading.   On the other end, buyers in the fall are generally looking more for “end of season deals” and will not want to pay high retail.

You will also want to consider the economy.  Right now, we are seeing a decline in pricing due to the high volume of boats being listed and rising interest rates.  During COVID boats sold at an incredible rate.  At one point during 2021 there was a record low number of boats listed for sale.  By the time of this writing the number of boats has more than doubled.  It’s supply and demand.  You MUST take this into account when determining your listing price. 

Color – Did you custom order your boat with the colors that you love?  Great!  But those wild color schemes may not be what the average buyer is looking for.  Over the years we’ve found that the safest colors are red, blue, black, grey and white.  Any other colors, however great they may look, could narrow the number of buyers who may be interested in your boat.  Granted this is an extreme example, but which one of these X23’s do you think will sell for more money?

This?

Or this?

Seller Circumstances – This is the factor that only you can determine.  Do you need to sell your boat immediately?  If so, then you need to price it accordingly.  If you are fine waiting for a buyer at your price, then it could take a little longer.  Sellers who list their boats for sale at high retail may have to wait a little longer to find the perfect buyer who is close enough, wants that specific model and likes your colors.  

By taking all of these factors into consideration you should be able to come up with a reasonable asking price for your boat.  A few final notes would be that if you are listing in a high demand time then you can always list your boat at high retail to test the market.  During peak COVID years we would see boats sell in minutes.  Yes, 15-20 minutes on the site and a great deal would be snatched up.  Most of those sellers regretted listing for a lower price.  We always recommend listing a little higher (if you are not in a hurry) and waiting a few weeks to see if you are getting any action.  If you are not you can always lower your price.  We hope these tips help you and if you have any other questions, please do not hesitate to email or call us!