is boathub.co.uk valuation tool reliable?

[boatyboy14]

Hello everyone,

 

I have a 2020 collingwood, which i bought from a carpenter who fit out the boat himself to a decent spec.

 

Paintwork is immaculate just inside the fit out is on the more budget side but still looks fairly professional.

 

I used the boathub valuation tool on this link: https://boathub.co.uk/free-boat-valuation/

 

and got an estimate of 108-119k. I was hoping for a bit more but does this seem realistic in this market or would people expect more/less?

 

Thanks all

[LadyG]

I tried ii for my NB, and came up with a reasonable ballpark figure.

You can use Apollo Duck to find prices for Collingwoods. There is a big variation.

When one comes to sell, there are factors like location, the need to sell quickly., the ease of viewing, seasonality affects demand, willingness to negotiate aff3cts both vendors and purchasers.

Edited June 24, 2024 by LadyG

[blackrose]

7 hours ago, boatyboy14 said:

and got an estimate of 108-119k. I was hoping for a bit more but does this seem realistic in this market or would people expect more/less?

 

How would anyone here be able to comment? You haven't mentioned the length of the boat, whether it's a narrowboat or widebeam, what engine it has...

 

But in general Collingwoods are budget boats, at the cheaper end of the market so the figures you quote seem very high to me. How much did you pay for the boat?

[Tony Brooks]

Just now, blackrose said:

 

How would anyone here be able to comment? You haven't mentioned the length of the boat, whether it's a narrowboat or widebeam, what engine it has...

 

But in general Collingwoods are budget boats, at the cheaper end of the market so the figures you quote seem very high to me. How much did you pay for the boat?

 

Me too for a 24 year old boat, so close to the age where some insurance companies require mandatory four yearly out of the water surveys. Then there is the elephant in the room for a post 1998 boat in respect of legal paper work that may or may not exist.

 

Budget hull, and by the sound of it a budget fit out, at the price stated it is probably a wide beam, and possibly a longer one, but still sounds expensive.

[blackrose]

1 hour ago, Tony Brooks said:

 

Me too for a 24 year old boat, so close to the age where some insurance companies require mandatory four yearly out of the water surveys.

 

The OP said 2020 Tony.

 

Some Collingwood owners have a highly inflated view of what their boats are worth - mostly these are people who have little interest and don't really know much about boats. One of my neighbours seems to think his Collingwood widebeam is worth £150K - that's what he's insured it for!

Edited June 24, 2024 by blackrose

[Tony Brooks]

7 minutes ago, blackrose said:

 

The OP said 2020 Tony.

 

Some Collingwood owners have a highly inflated view of what their boats are worth - mostly these are people who have little interest and don't really know much about boats. One of my neighbours seems to think his Collingwood widebeam is worth £150K - that's what he's insured it for!

 

It must be my old age, so only four years old, still seem expensive to me for a budget hull and a budget fit out.

[BoatinglifeupNorth]

Just had a look as selling a boat. Alll it asks, is length, width, age and condition. Nothing about builder, equipment, engine and hours, fit out self/professional, type of hull. So how can it give a true valuation?

  I’ve just giving it a go and it’s highest valuation is about £5-7K less than I would value the boat.

Edited June 24, 2024 by BoatinglifeupNorth

[robtheplod]

It does seem to leave out large chunks.....  a boat with the latest electrics/solar setup is worth the same as one with no electrics....  its very approximate

[GUMPY]

£47-51k for a 31 year old boat which I sold last year only £4k-8k out🤔

[blackrose]

I just tried it and the good news is that my boat is worth about £10K more than I thought! 😀

 

On the other hand since Boathub values a budget Liverpool Boats widebeam the same as a higher quality Bluewater Boat widebeam I might take the valuation with a large pinch of salt.

[Sea Dog]

9 hours ago, boatyboy14 said:

bought from a carpenter who fit out the boat himself to a decent spec.

 

 just inside the fit out is on the more budget side but still looks fairly professional.

 

These statements are contradictory. Are we sure this post isn't "click bait"? 

[Tony Brooks]

12 minutes ago, Sea Dog said:

These statements are contradictory. Are we sure this post isn't "click bait"? 

 

You have a suspicious mind, but thinking about it, there is every chance hat you are correct.

[Sea Dog]

3 minutes ago, Tony Brooks said:

 

You have a suspicious mind, but thinking about it, there is every chance hat you are correct.

Single post to his name too Tony. 

[Tony Brooks]

Just now, Sea Dog said:

Single post to his name too Tony. 

I think we had someone on here a while ago saying he wanted to set up such a site using AI but did not get much support because of the vast array of factors. Maybe it is the same person with a new account.

[boatyboy14]

Sorry canaline 52 engine 60ft x 12.5ft i paid 115k 2 years ago.

 

Just to clarify my two statements. Fit out a decent spec i meant as in the quality of his craftsmanship was decent but the actual items he put on the boat e.g. batteries were fairly budget.

 

If i were to compare it to apolloduck boathub ebay gumtree there are collingwoods far more expensive but is this just people over valuing there own collingwoods like you say above?

[BoatinglifeupNorth]

34 minutes ago, boatyboy14 said:

Sorry canaline 52 engine 60ft x 12.5ft i paid 115k 2 years ago.

 

Just to clarify my two statements. Fit out a decent spec i meant as in the quality of his craftsmanship was decent but the actual items he put on the boat e.g. batteries were fairly budget.

 

If i were to compare it to apolloduck boathub ebay gumtree there are collingwoods far more expensive but is this just people over valuing there own collingwoods like you say above?

More than likely as they don’t want to loose a vast sum of money on what they paid for it.

 So what do you think your boat’s worth now and what was the valuation through the Boathub link?

Edited June 24, 2024 by BoatinglifeupNorth

[Hudds Lad]

I was going to give it a go, but i'm not agreeing to those email terms.

 

If something is free, you are the product

[MtB]

1 hour ago, boatyboy14 said:

Sorry canaline 52 engine 60ft x 12.5ft i paid 115k 2 years ago.

 

 

I'd guess it is worth about £95k now then, as it is twice the age now as when you bought it. 

 

Age depreciation is highest when new, and virtually disappears once the boat gets to about 25 years old when condition and standard of maintenance governs value.

[GUMPY]

34 minutes ago, Hudds Lad said:

I was going to give it a go, but i'm not agreeing to those email terms.

 

If something is free, you are the product

You don't have to agree to the second term about email.

 

[BilgePump]

4 minutes ago, MtB said:

 

I'd guess it is worth about £95k now then, as it is twice the age now as when you bought it. 

 

Age depreciation is highest when new, and virtually disappears once the boat gets to about 25 years old when condition and standard of maintenance governs value.

Depending on inflation, by the time a boat gets to 25 years old, it may well still be 'worth' its original purchase price.

[Lady M]

My boat is older than that and was recently valued at about 10% more than we paid for it at 3 1/2 years old.

[Hudds Lad]

6 minutes ago, GUMPY said:

You don't have to agree to the second term about email.

 

So the "Check all" is a bit of a lie then?

[Ewan123]

When it's asking for so little information (length, width, age and general condition (multiple choice answer) )it can only be a very rough estimate. Since the tool is likely there mainly to draw people in to use their website, and pay to advertise on that site, I'd be surprised if it's not set up to over-estimate the selling price. After all, if a seller goes to a website that says their boat is going to sell for a higher price, they're more likely to pay to use that site for selling - surely?

Edited June 24, 2024 by Ewan123

[MtB]

3 minutes ago, Ewan123 said:

When it's asking for so little information (length, width, age and general condition (multiple choice answer) )it can only be a very rough estimate. Since the tool is likely there mainly to draw people in to use their website, and pay to advertise on that site, I'd be surprised if it's not set up to over-estimate the selling price. After all, if a seller goes to a website that says their boat is going to sell for a higher price, they're more likely to pay to use that site for selling - surely?

 

All true, and reflects what happens in the property market. 

 

Estate agents routinely over-value to get you to list with them, rather than a competitor who valued slightly less. Then when it doesn't sell (feigned surprise from the estate agent), work on the seller to reduce the price now they are signed up on a sole agency agreement. 

 

This process is so well known that estate agents have a slogan amongst themselves:

 

"First get the instruction, then get the reduction". 

[Lady M]

When I sold a boat last year, the broker tried to persuade me to ask less than I thought it was worth.  I put my price on and it was offered in full.