Yacht Valuation: How Much Is My Yacht Worth on Today's Market?

A yacht is worth what comparable yachts actually sell for, adjusted for year, model, engine hours and major factory options. Brokers value a yacht with two sets of comparables, Sold Comps and For Sale Comps, plus judgement. Online calculators can't do this reliably. Here is how we arrive at a number at Biagio Yachts.

Almost every conversation I have with an owner begins with the same question: what is my yacht worth? It's a fair question, and it deserves an accurate answer, not a flattering one. A number that sounds good on the phone and then fails to attract a single serious buyer doesn't help anyone.

In this article I'll walk you through how we arrive at a number at Biagio Yachts, what moves that number, what doesn't, and who makes the final call. If you'd rather have us run the comps on your yacht first, you can request a confidential valuation at any time, with no obligation.

A yacht is valued for sale with comparable yachts, known as comps, combined with the broker's expertise. No formula or online calculator does it reliably. We run two sets of comps, Sold Comps and For Sale Comps, and both are essential, because each shows one side of the market and neither gives the full picture alone.

Both sets come from the specialized yacht databases that brokers work with every day. Here is what each one tells us.

Sold Comps are what similar yachts actually sold for recently. They are the closest thing our industry has to proof, because they record what buyers really paid, not what sellers hoped for.

For Sale Comps are what similar yachts on the market are asking right now. They are your competition: the yachts a buyer will look at alongside yours.

Here is why we need both:

• Sold Comps alone look backward. They tell us where the market was when those deals closed, but not what a buyer can choose from today.
• For Sale Comps alone show asking prices. An asking price is a seller's position, not a result. Some of those yachts are priced well, and some are priced on hope.

Put together, the two sets show where buyers have been willing to close and what your yacht will be measured against on the day it is listed.

Where the broker's expertise comes in

Comps are data. Reading them is the job. No two yachts are identical, so someone has to decide which comps are truly comparable, which ones to set aside, and how to account for differences in engine hours and options. That judgment comes from working in this market every day: pricing yachts, showing them, negotiating offers and seeing what actually closes.

If you'd like a sense of the yachts we work with, you can browse the yachts we've recently sold and our current listings (including flybridge yachts for sale) , or meet our team.

The asking price is the number a yacht is listed at. Market value is what a buyer is realistically likely to pay today, based on the comps. The sold price is what the yacht actually closes for. Owners often hear all three in one conversation, and confusing them is where many pricing mistakes begin.

Two short definitions are worth keeping in mind:

Asking price is the price at which a yacht is publicly listed for sale.

Market value is the price a yacht is likely to sell for today, estimated from Sold Comps, For Sale Comps and the broker's expertise.

The numbers you'll hear

A good valuation keeps these three numbers close to each other. When the asking price sits well above market value, buyers don't argue with it. They simply move on to the other For Sale Comps.

One number that isn't part of this conversation is tax depreciation, which is a separate subject from what a buyer will pay; we cover it in our article on yacht bonus depreciation. For advice on your own situation, speak with a CPA.

Four things come first: year, model, length (LOA) and engine hours. They decide which yachts yours is compared against and where it sits among them. Major factory options come second, such as a hardtop versus a bimini top, a hydraulic versus a fixed swim platform, or the large versus the small engine package.

First: year, model, length and engine hours

• Year. Your yacht competes first against others of the same year and the years closest to it.
• Model. The builder and model define what the yacht is, from the hull to the layout. A valuation compares like with like, so the model decides which comps even qualify.
• Length (LOA). Length overall puts your yacht in its size class, which is how buyers shop and how comps are grouped.
• Engine hours. Hours are the simplest measure of how much a yacht has been used. Buyers compare your hours directly against the hours on every comp, so it's one of the first numbers I ask for.

Second: major factory options

Once those four are established, the major factory options separate one yacht from another within the same year and model. These are choices made when the yacht was built, they are hard to change afterward, and they show up clearly in the comps:

• A hardtop versus a bimini top
• A hydraulic swim platform versus a fixed one
• The large engine package versus the small one. If engines and drives aren't your favorite subject, our guide to yacht propulsion systems covers the basics.

Usually not. Minor upgrades such as a sound system or new lighting don't make a yacht worth more, and a refit typically doesn't make it worth more than others of the same year and model. Both can help your yacht sell ahead of a comparable one, or sell faster, but they don't raise the price.

This is the most common misconception I hear, and I understand where it comes from. You've put real money and care into your yacht, and it feels as though the price should reflect it. The market doesn't work that way.

Minor upgrades

A new sound system, upgraded lighting and similar improvements make a yacht nicer to own and easier to show. If a buyer is choosing between yours and a comparable yacht without them, they can tip the decision your way. What they never do is make your yacht more expensive than that comparable yacht.

Refits

A refit follows the same logic on a larger scale. A refitted yacht is still measured against others of its year and model. The refit can help it sell faster. But if we price it up because of the refit, we push buyers toward something newer or larger.

None of this means the work was wasted. An updated yacht shows better and competes better against the For Sale Comps. That shows up as a faster sale, not a higher number.

You do. The broker recommends an asking price based on the comps and their expertise, and the owner has the final word on the listing price. My job is to show you the evidence and give you a candid recommendation. The number that goes on the listing is your decision, not mine.

When we present a valuation at Biagio Yachts, you see what I see: the Sold Comps, the For Sale Comps, where your yacht sits among them, and the asking price I recommend, along with my reasoning. It also helps to know what a broker costs when you sell.

Once the price is set, the work shifts to presentation and exposure. You can read more about how we market a yacht for sale.

No. Owners don't pay for a survey in order to sell. The buyer orders and pays for the survey once the yacht is under contract. The survey doesn't set the asking price, but problems it finds that weren't fixed can come back into the negotiation, so preparing in advance pays off.

Here is the order: we value the yacht with comps, you approve the asking price, a buyer makes an offer, and only once there is a contract does the buyer bring in a surveyor.

That timing is exactly why preparation matters. By the time the survey happens, you and the buyer have already agreed on a price. If the surveyor finds problems that weren't fixed, the buyer can bring them back to the table. A known issue is much easier to deal with on your own schedule, before the listing, than in the middle of a negotiation.

So my advice is simple: tell me about anything you already know of, fix what makes sense to fix, and keep your records in order.

In our experience, November through July is generally a good market in South Florida, while August, September and October are generally slower because of summer and hurricane season. That is what we see at Biagio Yachts, not a statistic, and the right moment also depends on your own plans for the yacht.

Slower doesn't mean closed. For many owners, the practical takeaway is to use those three months to prepare, so the yacht is ready when activity picks up again.

Remember too that a valuation is a snapshot of today's market. If several months pass before you list, the comps should be run again before the asking price is set.

Very little. To run the comps I need the basics: year, builder and model, length, and engine details with current hours, plus the major factory options. Service records and a list of known issues help me advise you on preparation.

Here is a simple owner checklist:

• Year, builder and model
• Length overall (LOA)
• Engine make and package, with current engine hours
• Major factory options: hardtop or bimini top, hydraulic or fixed swim platform, large or small engine package
• A list of upgrades and any refit work, with approximate dates
• Maintenance and service records
• Known issues, whether they have been fixed or not
• Where the yacht is located
• Your timing: when you would ideally like to have it sold

If you don't have everything, send what you have and we'll fill in the rest together.