It is a big decision to buy a boat, whether it’s a fishing boat, ski boat, or a pontoon boat. The question that always comes up is, “how much will it depreciate after I buy it?”. It is no secret that when you buy a new car, it loses some of its value as soon as you drive it off the lot. Boats are no exception, and in most cases, depreciate faster than the normal car.
Depreciation is very important when considering whether or not to buy a boat because you will need to make a decision on whether to take the depreciation up front or buy a used boat that has already depreciated a bit on it, and save some extra money. The latter may be a wise decision, but you may find that you are spending more on repairs.I wrote this post to dive into some factors to consider with boats and depreciation with the hopes to clear up some confusion!
The Variables in a Boat’s Value
The problem when trying to figure out how much a boat will depreciate is all the different options and variables that go into a boat’s value. Each new boat is customized for an individual customer, and what they wanted at the time of buying it, and that is not always what you had in mind. When using this article as a guide for making a decision on whether to buy a new or used boat, you have to be willing to sacrifice something that you may have wanted on a new boat, but just won’t get with a used one.
If you are in the market to get everything you want on a used boat, your search might take you years because there might only be one or two other people that had the same exact specs in mind when purchasing their boat. Not that you could not wait and just keep searching until you found the perfect boat, but if you are going to buy used, be prepared to get about 90% of all the buttons and bells you wanted. If you are happy with that, then buying a used boat might make sense to you, and you can save yourself some instant depreciation on a new one.
Here are some of the variables that you might run into that could differ between a new customizable boat, and a used boat bought by someone else brand new. All of the below factors impact price.
- Color: Color can be customized to each person own liking, so if you are buying used, you are going to buy a color that someone else picked out.
- Motor: You can upgrade to different sized motors, or have multiple motors if you want, so unless they bought just a stock motor, you might have to deal with something that a person chose.
- Trim and Interior: Trim and interior color and extras can be added to the purchase of the boat. People can also add extra bait tanks, and live wells into their boat if they want.
- Trailer: You have the option to take the stock trailer, or upgrade to a beefier two-axle trailer, and have new tires and rims put on it, so you may have to pay extra for someone else’s upgrade.
- Added Electronics: If a person wants added electronics like a stereo or more speakers, a fish finder, and custom wired in trolling motors, you may have to pay extra for something. Electronics are a very popular upgrade for boat buyers, as it is easier for a dealer to add stuff than a DIY project.
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If you are okay with the interior, and maybe the boat color being a different shade than what you originally wanted, you are probably a good candidate for buying a used watercraft, but if some of these things are just deal breakers, you might have a harder time finding what you want, if at all.
You also have to take into consideration how long you are willing to look and not buy, so if you are okay with searching for 3 to 6 months, you will most likely find more of what you want. If you only have a month to find a boat, your options will start to suffer, and you will get less of what you want, and more of what you can find for your price point.
How Long Do Boats Depreciate For?
On average, you can expect a boat to depreciate for approximately 7 to 10 years, or until the boat is roughly $100 dollars per foot of the boat. For example, if you have a 10-year-old 18-foot fishing boat, you can expect to get about $100 dollars per foot, or $1800 dollars for it. Keep in mind these are average numbers, so if your 10-year-old boat looks brand new, and has every upgradeable option on it, you will most likely ask for more money.

However, if your boat is regularly used, with typical wear and tear and needs some TLC, then you are going to be right around that number. Before we get into depreciation, let’s take a look at a few key things that go into making up the value of a boat when preparing to sell it. Some of these factors can skew the depreciation by a ton, and make your boat retain its value, or depreciate more than 50% in a year, so it is good to keep your boat clean and maintained.
- Cleanliness
- Maintenance schedules
- Storage
- Paint and decals
- Motor and Electronics
As you can see, if you store your boat in the garage, and wipe it down and clean it after every use, and the boat looks like it just came from a dealer, you will be able to demand more money for it when you sell it. If you keep your boat covered out beside your house and wipe it down every once in a while, it could stay with the depreciation rate below. If you just drop your boat off on your property and leave it out in the sun to bake, and never wipe it down or change the oil, you are going to have a hard time saying with the below depreciation and will probably get less than what you think.
Care and maintenance show new potential owners that they are not going to buy something that is going to strand them or their family out in the middle of the lake or river and will make them feel more comfortable with your price point.
Depreciation Chart for Different Types of Boats
Below are rough estimates for how much boats and jet skis depreciate over time. As mentioned already, there are numerous factors that can impact the price of a boat and how fast it may lose its value.
Depreciation Of A Fishing Boat
- Year 1: 20 – 25%
- Year 2: 15 – 20%
- Year 3: 10 – 15%
- Year 4: 5 – 10%
- Year 5: 5%
- Year 6: 5%
- Year 7: 5%
- Year 8: 5%
- Year 9: 5%
- Year 10: 5%
- 10+ Years: About $100 dollars per foot of the boat.
Depreciation Of A Ski Boat
- Year 1: 20%
- Year 2: 15%
- Year 3: 10%
- Year 4: 8%
- Year 5: 7%
- Year 6: 5%
- Year 7: 4%
- Year 8: 4%
- Year 9: 4%
- Year 10: 2%
- 10+ Years: About $100 dollars per foot of the boat.
Depreciation Of A Jet Ski Or WaveRunner
- Year 1: 18%
- Year 2: 16%
- Year 3: 15%
- Year 4: 13%
- Year 5: 11%
- Year 6: 9%
- Year 7: 7%
- Year 8: 5%
- Year 9: 4%
- Year 10: 2%

Depreciation Of A Pontoon Boat
- Year 1: 25%
- Year 2: 21%
- Year 3: 18%
- Year 4: 14%
- Year 5: 11%
- Year 6: 7%
- Year 7: 4%
- Year 8: 4%
- Year 9: 4%
- Year 10: 4%
- 10+ Years: About $100 dollars per foot of the boat.
Factors That Impact the Price of Boats
When pouring over hundreds of different brands and types of boats, I learned a lot about similarities and differences between all the different boat manufacturers out there on the market, and I found some very interesting stuff. Take a look below at what I found when looking into boat prices, options, and extras.
- Motor Size
- Boat Size
- Accessories (fish finder, lights, radio, cup holders, trolling motors)
- Boat Shape
- Colors
- Trim Pieces
- Interior features
- Seating
As you can see, there is not a lot of differences that set manufacturers apart from others than personal preference, and maybe some minor upgrades. In my research, it looks like people take the advice of other people as the main factor when buying a boat or watercraft. If your friend or neighbor suggests a brand, that takes a much bigger consideration than doing research about it. Reputation is a big factor when picking a boat, so when a manufacturer wins the popularity prize, they normally have higher sales, and other manufacturers sales will dip. No matter what forums or your friends say, do your own homework.
Getting an Extended Warranty
If you are buying a new boat from the store, you may think that getting an extended warranty, but what does a warranty cover exactly? The first thing you need to understand is that extended warranties are not like a manufacturers warranty at all, so you really need to understand what is covered, and what is not before you buy it, or add it into your boat loan.
Generally, whatever is going to happen to a boat, especially a new one, is going to happen in the first year or two if you use your boat a lot. An extended warranty can be a good thing if you want to cover the major parts, but let’s take a look at the difference between a manufacturer warranty and an extended warranty or service contract.
Manufacturer’s Warranty
- No out of pocket expense
- Included in the purchase price
- No limitations
- No deductibles
Extended Warranty (Service Contract Usually Offered by a Third-Party)
- Costs money
- Have a deductible
- Have limitations
- Can have maximum payouts for issues
- Can be transferred if you sell the boat
- High source of revenue for boat dealers
- Consequential damage not usually covered
As you can see, there are some major differences between a manufacturer warranty and an extended warranty you have to buy when getting your boat. For me, when purchasing something this big, I will always spend the extra money for peace of mind because even though an extended warranty may have out-of-pocket expenses like deductibles and other costs, it is much cheaper than having it all out of pocket.

The choice of buying an extended warranty is completely up to you, but my advice is to read everything before you sign it, and actually ask questions about “what if’s”, and have them answer your questions before buying it.
Take Your Time When Buying a Boat
When it comes to buying a boat, whether it is new or used, DO NOT RUSH IN! Take your time and do some research on what type of boat you want, and what brands there are that will fit what you are looking for. If you want a 20-foot bass boat, take some time to research all the bass boat manufacturers out there and get a ballpark of what they have in common, and what sets them apart
.Do not rush into buying a boat, or you could easily buy a lemon, and end up having to sink a lot of money into fixing it, or adding things that you really wanted in a boat, but just didn’t buy. Make sure you understand what your limitations are, and if you cannot do something like wiring a fish finder, or setting up a trolling motor, make sure that any used boat you want to look at has the wiring or the full setup.
Some projects like adding live wells, or bait tanks require you to pull the seats out and add new wood and carpet and can be expensive, so if you know that it is something you could not do on your own, make sure the boat you buy has it. Adding a stereo and speakers is pretty common, so that can be done in about a day, and adding extra batteries, or changing lights is a pretty easy fix as well.
Know your limits, and that will tell you what you really need to look for, and will tell you if you can either find it in a nice used boat or if you might have to buy a brand new one to get what you want. Do your homework up front and you will not get ripped off in the end.
In Summary
In my findings, I noticed that boats depreciate at a reasonable rate depending on the boat, and how it is kept up by the owner. If you are looking at buying a boat for resale value, I would suggest starting out by buying a used boat first because someone else has taken the most depreciation on it already, and can be a very good deal for you in the long run.
If you do plan to buy a new boat, understand that you will take most of your depreciation hit up front in the first three years before you see a significant plateau in depreciation. Ski boats tend to be the best boat for the smallest amount of depreciation over time because they can hold their value longer than a typical bass boat or wave runner, so if you are looking at a family boat that you can fish off of, that will be your best bang for the buck.
One last thing I can say is that if you do buy a boat, take care of it, and you will retain more of your value in it when it comes time for you to sell it and upgrade. If you do not take care of your boat, then you are going to see a more significant increase in the depreciation, and the boat will be worth much less in the long run.
Hello,
I have a question.
A few years ago my son and I bought a 1960?s Chris Craft Cavalier b
It was a total take down. Hull had a lot of rot.
Basically it needed to be taken apart and rebuilt. Also, the engine was locked up and we were unable to start it.
A couple years later we found it to be an overwhelming and expensive project for two amateurs. It was also expensive to store in a large enough facility with heat and electricity.
Two years later we turned around and sold it the way we bought it.
We paid $2,000 for it and sold it for 2,000.
What is you opinion on that?
Thank you.
I honestly believe this was a great deal! Chris Craft boats seem to hold their value because they are highly collectible.
Depending on how beat up it was, and how much it would have actually taken to complete a restoration, you might have gotten a little more for it, but you would have had to wait for the right buyer.
All in all, I think you did great!