How does a yacht appraiser determine a boat’s value?
Most boat appraisals are determined by a licensed yacht surveyor. He computes a boat’s value a few different ways, 1) by analyzing other comparable vessels currently for sale, 2) by analyzing comparable boats that have recently sold, and 3) by integrating these numbers with the “book value”, usuallu defined by NADA, or BUC. While there is no clear science, the goal is to give the lending entity an understanding of the value of the boat, to ensure that they are not lending money on an asset that is grossly over-valued.
