The survey is the cost of entry above a certain price
For anything over roughly fifteen thousand dollars, a marine survey is the cheapest insurance you will buy. It is also what most insurers and lenders will require before they write a policy or a loan on an older hull.
Below that, you are making a judgement with photographs and an inspection report, and you should price the risk accordingly.
What kills boats
Not engines — water intrusion into the structure. A cored hull or transom that has taken on water goes soft, and the repair is a significant fraction of the value of the boat.
- Soft or flexing transom around the outdrive or engine mounts
- Stress cracks radiating from fittings and hull-to-deck joints
- Blistering below the waterline on older fibreglass
- Stringers and bulkheads: tap for the dull sound of wet core
- Corroded or chalky outdrive, and missing anodes
Hours and service on the power
A marine engine's life is measured in hours and in how it was flushed. Saltwater use without flushing destroys cooling systems from the inside. Ask for the hour meter reading, the last impeller change and whether the boat lived in salt or fresh water.
Trailer and title are part of the lot
Confirm in writing whether a trailer is included and whether it has its own title. The HIN on the transom must match the paperwork, exactly as a VIN must on a car.
From the auction floor
See how this works on a real lot.
Every listing carries its inspection report, its full specification and its bid history. Read one before you decide what it is worth to you.