Selling your boat can be a daunting and frustrating experience. Not only do you have to deal with tire kickers, but it’s often difficult to determine a severe buyer from a scammer.
Captivating photos and videos are a must. You also want to ensure you’re ready to take potential buyers out on sea trials if needed.
Price it Right
Like any property, a boat’s value is determined by what people are willing to pay. To determine a fair price, look at similar boats in your area for sale online or in print advertising.
Check the costs at nearby dealers and brokers if you intend to sell your boat privately. You might be shocked to learn that their pricing is remarkably comparable and that many are prepared to make a better offer in exchange for swift boat sales.
Another way to get a good idea of what your boat is worth is to consult marine bluebooks, such as NADA. These are available at most insurance agents, banks, and boat dealerships. Be sure to consider any recent upgrades or repairs you have made to the boat. These will increase its value. Also, a well-documented maintenance schedule and a clean vessel will help it sell faster. Plain old dirt and neglect will lower its value considerably.
Make it Look Great
A boat that looks great on the water and in photos is more likely to attract a buyer. Polish your boat, clean the upholstery and stowage areas, and ensure your listing includes high-quality, eye-catching photos. You might even consider shooting a video to help prospective buyers feel they are already on board. Try to avoid photos taken from the trailer and in unfavorable lighting conditions.
Props are another way to improve your boat’s appeal, but adding too many may reduce the vessel’s perceived value. Too much clutter can turn off a potential buyer, like in a model home. Throw pillows, potted plants, and decorative nautical sculptures may make your cabin feel homey. Still, they also detract from the boat’s appearance and limit the stowage space on runabouts and center consoles. Likewise, removing gear you don’t plan on selling with the boat will help it look more spacious.
Please put it on the Market
There’s a natural tendency for boat owners to harbor an over-inflated sense of what their boats are worth. After all, they’re emotional purchases that have often produced a lot of happy memories for the owners.
It’s essential to be realistic about your boat’s value when selling. The sooner you sell, the more money and time for maintenance you’ll save.
You can trade your boat in on a newer model, sell it through a broker (for larger boats), or do it online. Each method has its pros and cons. If you’re selling it yourself, it takes the most time weeding out weekend gawkers and freeloaders who want to tell you their sea stories. However, it also gives you more control over the process and price. Be prepared to answer many questions about the boat’s model, condition, critical features, and any add-ons you have installed. Also, be ready to do a virtual tour via video chat and arrange for in-person sea trials.
Get Ready to Sell
Whether you’re upgrading to a bigger boat or simply ready to downsize, creating a plan for selling your current vessel is crucial. It’s also essential to understand how much your boat is worth so you can determine a fair asking price and negotiate confidently.
You’ll also want to get your boat in prime condition for viewings and consider a pre-purchase inspection by a qualified marine surveyor. It will help you identify and prioritize any repairs and give potential buyers peace of mind.
You must decide whether to use a broker-dealer or sell your boat yourself. If you go the self-sale route, you must be prepared to screen dozens of calls, weed out weekend gawkers and freeloaders, and show your boat to interested parties. Preparing all the necessary legal paperwork to complete the sale is also a good idea.
