Valuation help

[jago23]

Hi all
I’m wondering if the good people of Ribnet can help? I’m keen to get an approximate valuation on our XS 6.0 RIB for the purpose of selling my share to a friend. I’ve no idea what it’s worth!

Details:
- 2010 XS 6.0 hull with all paperwork.
- brand new black hypalon tubes fitted March 2022 by Rib Shop (cost £6k)
- 2010 Mercury 115 HP 4 stroke with ,approx 300 hrs.
- decent snipe road trailer, in good condition
- full stainless A-frame with lights and towing point
- 4x crane lift points internally, 120 litre internal fuel tank
- quad jockey seats and front seats - off shore for 7-9 people
- full windscreen, navigation screen with depth etc
- custom boat cover brand new this season

Thanks!!!

[Poly]

Valuing boats is very subjective. The market has been crazy recently but cost of living, interest rates and fuel price might calm that down.

If it’s a share rather than outright I think that makes it even harder. When valuing businesses a 20% share is often not valued at 1/5 of the whole - because only owning a minority doesn’t give you the same autonomy. There may also be rules that the shares have to be offered first to the other shareholders, or the other shareholders may have a right of veto on who the new owner is. I suspect boats may be similar,. Your reason for selling will also affect value. If it’s become a money pit you can’t afford, you are getting divorced or you are leaving the country and need the cash your urgency (and so willingness to accept a low price) may be different from if you are cash rich and just looking to upgrade for something which will take 12 months to be delivered anyway.

Sorry I can’t be more helpful - it’s worth what someone else is willing to pay.

[treerat]

What would I be willing to pay for her is the question in my mind as a valuation is a different thing.

A 12 year old boat that was 20k new with a 12k engine that's 300 hours old? 12-15k if she's in great condition is my view.

Others may think higher, which means they would be willing to pay more, not the same as she'd be worth more.

Pictures may help!

Last year it would have been higher but prices are getting back to where they should be on 2nd hand boats. that said there is still an issue getting some makes new so could be slightly higher.

[jago23]

Thanks for the feedback guys.
Perhaps a better question would be to ask at what price would folk think I should start advertising the boat for if i was doing a classified?

[Poly]

Originally Posted by jago23

Thanks for the feedback guys.
Perhaps a better question would be to ask at what price would folk think I should start advertising the boat for if i was doing a classified?

I think (bearing in mind nobody here has seen it!) Andy is in the right ball park - if you were trying to sell it quick you could probably list it at £9,995 and get shot of it this weekend if its immaculate and in a ready-to-use condition (with lifejackets, radios, flares, towable rings etc as a nice package) then you could probably list it at £19,995 and you might just get lucky and someone cash-rich and desperate will take it, but you might still have it in Sept/Oct when the prices drop.

[jago23]

OK nice one, that's helpful. Thanks!!

Originally Posted by Poly

I think (bearing in mind nobody here has seen it!) Andy is in the right ball park - if you were trying to sell it quick you could probably list it at £9,995 and get shot of it this weekend if its immaculate and in a ready-to-use condition (with lifejackets, radios, flares, towable rings etc as a nice package) then you could probably list it at £19,995 and you might just get lucky and someone cash-rich and desperate will take it, but you might still have it in Sept/Oct when the prices drop.

[lakelandterrier]

I agree with Andy and Poly, first thing to do is work out how much you think to boat is worth, doing some research on what people are asking fro similar size / spec boats etc.

I think there are some other factors in this situation:

Are you looking to sell because you want to realise £XXX of cash for something- that may influence your value

Do you know how much the the party is able / willing to spend?

Do you want / need to sell 50%? if it's about reducing running costs a different split may be possible

There may be a combination of the above factors balancing what you want with what the other party is prepared to spend.

[fastasfox]

Call James at XS Ribs Hull maybe he could help.

[Orwell boy]

Originally Posted by fastasfox

Call James at XS Ribs Hull maybe he could help.

Or Laurence Lock at XS in Welwyn Garden ."he wont sugar coat it "

[909]

With used boats and outboards , condition is king. Age is second .

Act as though you were a buyer . Look at used dealers, then look online at in your local classifieds.

Once you understand your market you will know exactly where you should position yourself.