Comparables for 22' Eaglecraft

[Escalante]

First time poster, so if this is the wrong forum, let me know and I'll move it. I'm trying to get a handle on comparables for my boat for insurance, I can't find anything out there, except this one: https://thunderbirdyachtsales.com/yacht-sales/22-eaglecraft-cuddy-cab/

Details:
- Welded by Daigle Welding and Marine
- 2004 21.5' + 2.5' pod, walk through window with cuddy and soft top LOA 24'
- 2012 Yamaha 250 hp - 1540 hours
- 2017 Yamaha 20hp with backup tiller - 250 hours
- 1998 Navigator triple axle trailer

In the last year, I have replaced almost all of the pump systems, anchor windlass, trim tab electrical, full trailer service including new 8-ply tires, etc. I'm told these boats are hard to find, and that appears to be true. I had a marine survey done, and the guy said he looked at over 200 comparables, but I don't see how that's possible. I realize that this is a hard one, but even a rough range would help. Thanks in advance.

 

[Reel Gone]

I believe Doug built some Nothwest boats similar to this, I think that would be a good comparison but I don’t believe there are many of those either. Pretty sure a member on here has one just can’t remember his name. Maybe Nootkafisher?

 

[kaelc]

What are you trying to do? Do you feel the valuation he used was too low? I felt mine was too low but rather than arguing over the value of a 10+ year old engine decided to move on, as soon as 10k in electronics are installed it seems like they are worth a few hundred.

What’s the beam? What’s the interior hight of the canvas? Original canvas and seats?

Without seeing the interior, floors it would be tough. There was a similar one listed within the last 12 months, which I put on the thread.

If you give us a breakdown of the valuation that is best. Usually they give a replacement value and then each piece on current value.

 

[Escalante]

Thanks and good points.
Beam - 8'6"
Interior height of canvas is roughly 6'5" - I'm 6'4" and just clear it standing. Canvas appears to be new within the last 2-3 years.
Passenger seats are original upholstery, I just redid the captain's chair. Cuddy cushions are new within last few years.

I thought the total was a bit low, but I don't take issue with the outboard value. I also put another $10k into it since the survey, so I'm probably biased.

Surveyor's evaluation:
Market Value Replacement Value
Vessel: $50,000 $96,000
Main Outboard: $9,950 $28,950
Trailer: $6,000 $18,600
Equipment: $7,800 $10,800
Total: $73,750 $154,350

 

[trophywife]

looks right.

 

[seabeyond]

looks right.

Agreed

 

[kaelc]

Yeah not far off. My buddy bought a new aluminum 21 plus pod with an aluminum hard top and came in close to that price. Aluminum cockpit floor, self bailing deck. With a 250 and 9.9, and dual axle trailer. No cuddy but hard top vs cuddy makes me think similar valuation.

I had trouble swallowing the valuation from my survey but had to remember despite the run up in prices of new I still bought a depreciating asset.

I wouldn’t get hung up on “market value”, tough boat that will have to sink to be written off. When you are ready to sell you just need one buyer looking for that specific boat. They won’t find another one used and they should know how much they are new. If it’s priced right it will sell.

Sunk costs. Ever 10k I put into my boat I’ll be lucky to get $1000 out of it, especially if any of it is labour.

 

[Escalante]

That's great, thanks guys. I just wanted a check on things, and you provided it. Cheers!

 

[Bill 310]

I had a survey done on our boat by a Registerd Marine Surveyer .

It was extremely detailed report and if there should ever be a claim there will be no doubt as to the quality and build of the boat.

Everything was detailed in the Survey. It is far easier to have a professionally documented starting point if you have a claim.

I think the cost was under $500.