APPRAISAL: 2005 170 Montauk No Engine

[rmaxwel]

For Appraisal: what is a reasonable price to buy or sell a 2005 170 MONTAUK boat without an engine, on an older galvanized trailer?

The condition of this particular 18-year-old 170 MONTAUK boat is eight out of ten. The hull has bottom paint. The center console has two doors. One door is original. There is a second teak door on the [starboard] side of the center console where the fish tackle box would have been located. There are no major nicks on the boat, but the area where the boat hull loads onto the trailer bunks has scratching and a four-inch-gouge. The steering is hydraulic. The boat horn is new. The instrument panel is new. The boat has side railings and a bow railing.

The boat has a GARMIN 9-inch display.

The trailer has new tires, but the bunks need new carpet.

I am in Texas [where one must also presume the boat is located].

[jimh]

A 2005 170 MONTAUK boat is from the third year of production, as the model was introduced in 2002. The boat originally sold in 2002 in a package with engine and trailer for about $18,000. That was an extremely low introductory price. By 2007 the 170 MONTAUK was selling with some factory incentives, with engine, trailer, dealer preparation, sales tax, and registration fees for around $25,000. That is in comparison to an MSRP of $31,364 MSRP.

A 2005 170 MONTAUK is now 18-years-old. The hull is the primary asset in your proposed package of boat and "older" trailer. By "older" I presume the trailer must be older than the boat.

The lack of an engine is a significant negative asset. To buy an new 90-HP or 115-HP engine for this 28-year-old boat will require a further investment of about $10,000 or more. These boats were always sold with Mercury engines, so the engine controls, wiring, and gauges will be for a Mercury engine. All engine rigging may need replacement if a non-Mercury engine is to be installed, and even if a Mercury engine is installed, the older rigger may need replacement.

The steering on a c.2002 170 MONTAUK was TeleFlex no-feedback, so the hydraulic steering on this boat is a nice upgrade.

Local to me there is a listing for a 2004 170 MONTAUK with engine, trailer, canvas, and in perfect condition by a long-time Boston Whaler dealer in a very expensive resort area of northern Michigan. The asking price is $35,000.

Assuming the 2004 boat mentioned above will sell at that price, I will begin my assessment at that figure, and I will apply markdowns to get to your hull and trailer:

• no engine, deduct $10,000
• hull damage, deduct 2,000
• unknown trailer situation, deduct $1,500
• no canvas, deduct $1000
• location not in northern seasonal boating freshwater inland lake, deduct $111-per-year times 18-years = $2,000
• individual sale instead of dealer sales , deduct $500

TOTAL deductions = $17,000

My appraisal: $35,000 minus deductions of $17,000 = $18,000, but a first-hand close visual inspection is necessary to confirm this price. I may be too high, as I think the dealer's asking price is also a bit high.

[Phil T]

If you do a nationwide search on the first generation Montauk 170's, you will find them for significantly lower than $35,000. See:

https://www.boattrader.com/boat/2004-boston-whaler-170-montauk-9100510/
https://www.boattrader.com/boat/2005-boston-whaler-170-montauk-9075426/
https://www.boattrader.com/boat/2006-boston-whaler-170-montauk-9067818/

Installing a new 90hp engine is costing $13,000 to $17,000, depending on what state you live in. If you re-use the steering, gauges and remote controls, subtract $1,000.

There is the hassle factor to consider as well.

I would suggest the hull as-is would be in the neighborhood of $10,000 to $15,000.

Now is the worst time of year to sell, but the best time for buying. Spring is the best for selling.

[jimh]

Another factor influencing boat prices: the craze and rush into boating by people who previously were not boaters that occurred during the pandemic and drove boat prices to unprecedented high levels is now over, and demand for boats and sales of boats have fallen way off, also affected by big inflation of everyday needs reducing discretionary spending.

Again, in any used boat, the general condition, lack of strange modifications, and being completely ready for use are important influences of appeal to buyers.

ASIDE: regarding the expensive $35,000 offering I cited for the 170 MONTAUK, this is from a dealer in an area where Hinkley Picnic Yachts are as common as Boston Whaler MONTAUK boats, so the cited example is certainly a "gold-plated" boat price.