13 October 2023
For anyone looking to set sail on their boating adventure, boat depreciation is a crucial factor to consider. With various boat types, brands, models and features to choose from, it’s important to remember that not all boats depreciate at the same rate. This article aims to shed light on the factors that influence a boat’s value and how to prevent it from depreciating.
Boats do tend to stay at a particular value if kept in good condition and are well-serviced. Sometimes the economic climate can have an effect but generally prices stay steady. Here are some factors that can help prevent depreciation:
Choosing a boat from a trusted and popular manufacturer can work wonders for its resale value. Well-known brands often come with a strong market for reselling, making it a smart choice for future buyers.
Taking good care of your boat through regular maintenance can make a real difference in its value. Keeping the engines, hull and other components in top shape ensures your boat stays in excellent condition.
Boats with popular and timeless features, as well as valuable upgrades like newer electronics and accessories tend to retain their value better.
Boats with fewer hours on the clock tend to catch the eye of buyers because they’re seen as being in better shape.
Unique or limited-production boats, particularly those in high demand, can actually become more valuable as time goes on.
Being aware of the current market trends and the demand for specific types of boats can be a great help in deciding which boat to buy and how to maintain its value.
Whether you’re planning to become a boat owner or a current enthusiast, understanding the principles of boat depreciation can help you navigate the world of boating. If you already have a boat that you want to sell, we can help! We specialise in connecting sellers with the right buyers to help you sell your boat efficiently and secure a great price. Don’t hesitate to reach out – just give us a call on 01603 713434 or email boats@nya.co.uk. We’d love to chat!
