Valuing a Boat

Happy Monday, all!

I have been having conversation with many about my boat. And one particular topic is the value of the vessel. I do not have an answer, but it has made me curious. I know what I have it insured for, and that is getting adjusted as I cannot replace it for what I have it covered for. The other problem I am having is finding anything comparable. The boat has some things that are pretty unique to it. So, if anyone could shed some light beyond the "whatever someone will pay for it" comments, what is a fair market value/assessment of my boat? Without further ado, here are the details!

1988 Correct Craft Martinique B/R
-- 454 PCM Engine with ~580 hours. Rebuilt 40 hours ago. Runs great!
-- 90% of the seats and upholstery has been refinished within the year.
-- All teak has been 3-stage cleaned and religiously oiled back to it's former glory
-- Faux teak flooring through the boat, closed cell foam, by Hydro Turf
-- Matching Tandem Axle Trailer
-- Perfect Pass installed and works great
-- Tower
-- Brand new travel cover made with tower cutouts
-- I have quite a few spare parts, but can't imagine those add to the value at all

Any and all help would be greatly appreciated! Don't see too many with a 454 power plant!

Nice boat.. I feel I have seen that boat before.

The tint and tower probably reduce its value..

For insurance purposes... somewhere around $10-12k is where I would want it insured depending on what they would allow. Try Boat US. I think I have my 99 and trailer insured for $18.5k with them.

You'd be hard pressed to replace that boat for anywhere close to what it is worth. For the same power, reliability, and usability you'd be looking at a $20,000+ boat. What do you currently have it covered for?

I had a 1986 Martinique Open Bow with factory trailer. Bought it approximately 5 years ago for $4500. Sold it approximately 3 years ago for $5000 after putting some work into it. New alternator, New Carburetor. Basically I worked on it for a season, enjoyed it for a season, and then sold it for what I had in it.

It had the standard 351 engine with approximately 800 hours (if I remember correctly). The floor, teak, carpet, and upholstery were in good condition except for a seem tear on the sun bench. It did not ave a wakeboard tower.

I liked the deep hull of the Martinique but it always struck me as a luxury/pleasure boat more than a Competition Tow Boat.

My rough estimate based on what you have stated would be somewhere around $8,000. The reason being is that I just bought a 1988 Sierra Supreme (deep hull) with a Tower and 580 hours on the 351 engine for $8,500. I was specifically looking for a Sierra Supreme or Sport Nautique and was considering a newer Sport Nautique in very good condition for $11,500. So I would ultimately value it $2,500 to $3,000 less than a Sport Nautique of a similar year in the same condition.

The value is going to be limited by what other options are on the market for a would be boat buyer

As an example here is a 1999 Moomba Outback with 375 hrs listed near me for under 13k. 1999 Moomba Outback

I know a guy on here that’s restoring one and I think he said it’s got a nice “table” for barefooting. Of course he barefoots behind jet skis and a Hurricane deck boat so how picky can he be.

I currently have my Martinique listed to upgrade in the near future. My boat is in average condition with 830hrs on a 351 PCM. The engine has a rebuilt carb as of last summer and I have completely rebuilt the trailer. I am asking $4000 obo. If I get a $3k cash offer, I will probably take it. The boat has been great for our family, but we are quickly out growing it.

Also, there are two other Martinique's in my area. One is listed for $8k with a completely new interior and floor. Then, another one close to the same condition as mine for $4k.

Justin