Hey everyone. I'm in the laborious process of getting title to a boat that had none. I'm in the final stages and realized the only thing left was a "Fair Market Assessment" from a licensed Yacht and Boat Broker. It's a 78 Macgregor V222 and I'm listing the value as under $1500 because it was abandon on one of my rental properties. It has a mast but no boom, sails, rigging is so-so, etc. It's in good shape I just don't think it is worth $1500 and if it is there is a different kind of lien sale I would need to do.
If it costs me $500 to get an appraisal done the boat might find it's way to the dump. I really don't want to take her there but so far I'm only about $150 into the boat with transport and storage and until I can get it registered don't want to spend a bunch of money on her.
Anyone know any Brokers in CA who will give a fair market assessment on the cheap?
Thanks!
Licensed Yacht Broker in CA?
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Bigdamdork
- Just Enlisted
- Posts: 21
- Joined: Tue Jan 27, 2015 2:28 pm
- Sailboat: Venture 2-22
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RobertB
- Admiral
- Posts: 1863
- Joined: Sun Jun 05, 2011 7:42 pm
- Sailboat: MacGregor 26M
- Location: Clarksville, MD
Re: Licensed Yacht Broker in CA?
I never lived in CA, but wonder if there is a way to do the self assessment for an old/low value boat. A collection of recent sales data on the same kind of boat is likely the same documentation a licensed broker would use - and deduct the replacement value of the missing equipment (boom, sails). Get data off the web and revisit the state title office.
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Tomfoolery
- Admiral
- Posts: 6135
- Joined: Tue Jul 05, 2011 7:42 am
- Sailboat: MacGregor 26X
- Location: Rochester, NY '99X BF50 'Tomfoolery'
Re: Licensed Yacht Broker in CA?
Not a licensed broker, of course, but the BUC value (the BUC Book) is a sort of blue book figure, and might be helpful. http://www.bucvalu.com/
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Bigdamdork
- Just Enlisted
- Posts: 21
- Joined: Tue Jan 27, 2015 2:28 pm
- Sailboat: Venture 2-22
Re: Licensed Yacht Broker in CA?
Woo-hoo. I found a very nice licensed surveyor in Morro Bay who offered to do a Fair Market Value for me for $50! I told him my situation and he promised to hook me up. He's going to get a very nice bottle of Rum with that $50 for doing me a favor.
Now I'm theoretically only about 45 days from having the boat in my name then I can start dumping money into my hole in the water.
I did talk to one Broker yesterday who had a funny comment. He said "The most expensive boat I have ever had was the free one I got."
Sage advice......
Thanks for website on boat values....I'll definitely check that out as well.
Now I'm theoretically only about 45 days from having the boat in my name then I can start dumping money into my hole in the water.
I did talk to one Broker yesterday who had a funny comment. He said "The most expensive boat I have ever had was the free one I got."
Sage advice......Thanks for website on boat values....I'll definitely check that out as well.