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devaluation of a boat because of an accident?

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Old 10-01-2006, 10:53 AM
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Default devaluation of a boat because of an accident?

I am trying to determine to what extent the resale value of my boat has been affected. I was involved in an accident and my boat was damaged on it's transom and port side and deck scoop. The hatch is being rebuilt as is all of the hull damage and the motor has been removed and inspected and all new interior is being installed. The boat did not sink and the hull integrity is fine. I am confident that the boat will be as "good as new". I intend to keep the Jag for a few more years but since it was damaged and I would inform any potential buyer, how could this history of the boat possible affect the boat's value? Any ideas or opinions would be appreciated. Thanks Doug
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Old 10-01-2006, 08:51 PM
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Default Re: devaluation of a boat because of an accident?

was it the one in cali that got the rear corner ran over.
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Old 10-01-2006, 09:39 PM
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Default Re: devaluation of a boat because of an accident?

That would be my boat. The internet makes the boating community very small! How would the pics on the web affect the resale value of this boat? Thanks Doug
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Old 10-01-2006, 11:03 PM
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Default Re: devaluation of a boat because of an accident?

Doug,
In my opinion I would fix the boat properly and sell it at the low side of fair market value for that model. The right buyer will not mind if it has been repaired properly. Photo document all the repairs and don't try to hide the fact it has been damaged. Show the damage and repair photos to those that may have questions.
Just my .02
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Old 10-01-2006, 11:20 PM
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Default Re: devaluation of a boat because of an accident?

This boat was wrecked badly and repaired to better than new condition. I would hardly think that it has been devalued. A boat of the same age of yours, if repaired well, can only come out in better condition than it was.
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Old 10-01-2006, 11:44 PM
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Default Re: devaluation of a boat because of an accident?

Lofty, I agree that Rick converted a badly wrecked hull into a beautiful piece of art. My Jag was not hurt to that extent but would a potential buyer shy away from my boat or for that matter Rick's Talon for a boat that wasn't on computer screens as before and after shots for fiberglass repair shops?
I bought my Jag 4 years ago and at that time I posted on OSO asking about the boat and the replies were positive and specific to a history with no damage. If I were looking for a car, I look for non-smoker and no acccidents or even door dings. I really don't know the answer, maybe it doesn't matter, I hope not but I still ask the question. Thanks Doug
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Old 10-02-2006, 09:10 AM
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Default Re: devaluation of a boat because of an accident?

I don't think the Jag was hurt bad enough to affect resale..as long as no holes were punched in the side or bottom I feel your fine..as long as its repaired right.
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Old 10-02-2006, 12:55 PM
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Default Re: devaluation of a boat because of an accident?

Doug,
I know your boat, I've seen you on many runs. A buyer of a boar like that woulnd't shy away from repairs as long as it is done correctly. These days you can't get away with dinging a prop on your ski boat without someone posting pics of it. So as far as pics of your boat being posted it will probably add to its' mistique.
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Old 10-02-2006, 01:46 PM
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Default Re: devaluation of a boat because of an accident?

Doug-
I agree that the relatively minor damage your Jag got shouldn't substantially effect it's resale value. If anything, it's testament to the strength of the Jag hulls!
John
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Old 10-02-2006, 10:24 PM
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Default Re: devaluation of a boat because of an accident?

yes the jag wasnt hurt that bad (but it seems awhile ago someone sold a boat that was fixed and something happened and the prev owner had to buy it back for not disclosing the prev damage.
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