Boat Evaluation: Ten Most Important Points To Check
When considering whether to independently determine the value of a boat before buying or selling
, you may find the following evaluation checklist of help. We also suggest that you do this appraisal together with a friend as four eyes see better than two. You can use this checklist when looking at the vessel, to help you examine the condition of the boat, and to spot repairs or improvements that may be necessary to take into account before settling on a final price.1) Check the boat's hull first, having the vessel out of the water if at all possible. Take note of any scratches, dents, repairs, or other points of interest that may need extra repairs and reduce the value of the boat.
2) Check the fittings and hatches: Check any deck or hull fittings to ensure that they are in good condition, fit well, function correctly and, where they go the hull, are watertight. Open and close all hatches to see if they're in good working order and that they don't show signs on water ingress inside. If they do, it can mean that they're not watertight. Open and close any/all sea cocks to check that they're easy to operate and are watertight when closed.
3) Check engine(s), steering & transmission: Check that the steering and throttle control cables are in good condition and that the wheel moves freely (and without squeaking) and that the transmission smooth, from forward, to neutral, to reverse. Check the oil level of the engine and examine the colour and texture of the oil. If it's grainy or gritty, they're possibly tiny slivers of metal that indicate potentially serious mechanical problems. If the oil has a slightly milky appearance, it signifies that there is a water leak into the engine.
4) Test electrics & switches: Test anything that has a switch or a handle, to see that they function correctly, in particular navigation lights, horn, bilge pumps, internal lights, winches, heating, generator, cooking facilities, taps, toilets. Also check all electrical cabling, looking for any signs of repair, temporary fixes, rust and loose connections.
5) Have a look at all the bilges, under the flooring. Oil signs are a bad sign, you don't want any oil leaks. Watermarks from flooding are sign of a lesser problem. You will want to enquire with the current owner when the flooding happened and why.
6) Now revisit all the external surfaces, from the deck to the inner furnishings, and also all the upholstery. Are there any problems that may result in a lower value of the boat? What is the status of repair of all these items?
7) Have another look at the wooden parts of the boat, if any are present. Is there any sign of warping, chipped areas, or damp spots? Is the wood well maintained? This is a difficult and expensive area to repair, and you want to make sure that there won't be too much to do extra.
8) If it's a sailing boat that you are looking at, check the mast(s), sails and rigging. Don't forget to look at the spare sails, and don't just content yourself with a cursory look - take everything out of its sacks, and don't forget to check all seams.
9) What accessories will be part of the deal? Make sure to make an inventory of all the extras, and evaluate them to their fair used material price. This could make a serious difference to end value, especially if a lot of electronics are part of the deal.
10) Don't neglect to look at the safety equipment. Not only do you want to ensure that it's present and in good order, but its state of maintenance will shed light on the care that the previous owner put into the boat, which is an important consideration for boat evaluation.
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