It's a lot
easier to buy your boat than to sell it. I guess that's why you see far more
articles and books about buying a boat than about selling one. To sell your
boat takes time, money, patience, and finding the right buyer. Having to sell
your boat first, before upgrading to another boat, can add pressure and be
frustrating. But, if you know the seven tips below, there's a good chance your
boat will sell faster than it otherwise would have.
7 Top Tips to Selling Your Used
Boat:
1. Make your boat more saleable-take these six steps
Declutter
your boat and let it shine. A clean boat sells.
Don't lose
interest. Buyers pick up on this. Staying interested in keeping up with repairs
and how the boat looks is extremely important.
Fix what's
broken. Don't expect buyers to fix things. If something breaks or looks worn,
either repair or replace it. This shows the potential buyer that you still care
about your boat. That energy rubs off onto the buyer.
Clean the engine
room. No oil, grease, or paint-chipped parts. Unfortunately, this is the
biggest deal breaker. It's like walking into someplace that has mold on the
walls, dirty bathrooms, and greasy carpets-a real turnoff!
Clean the
bilge. Make sure it's not full of dirt, leaves, oil, etc. A smelly bilge is
another turnoff, especially for women buyers.
Remove
personal items. You want the buyers to imagine or envision their own stuff on
the boat. Also, any personal stuff you leave on the boat could, and will, be
assumed by the potential buyers to be part of the sale.
2. Determine your boat's best price
If you decide
to sell your boat yourself, do your homework. Search the internet for boats
similar to yours with the same features, model, and year. Look at used boat magazines.
What are these boats selling for? What condition are they in? Where are they
located? Are they being sold privately or through a yacht broker?
Yacht brokers
can do more research through various websites and books such as ABOS™ Marine Blue Book, BUC® Used Boat Price Guide, and PowerBoat Guide. These books give them an idea of a
boat's current value. The websites they use can tell them what a particular
boat sold for in the past. If, in your research, you see a comparable boat
being sold via a yacht broker in your area, there's a good chance that you
should be pricing your boat similarly.
Once you have
an idea of how much boats like yours are selling for, you can then make a
logical decision on how much to sell yours for. Don't get trapped into thinking
that your boat is worth more than it really is; or, if you still owe money for
your boat, that you can sell the boat for the loan balance. Timing is
everything, and pricing your boat appropriately is what helps it be seen, then
sold, promptly.
3. Take photographs
Boaters love
looking at photographs of boats and their parts-the more, the better. Think
about the types of photos you like looking at. Take a walk around your boat and
take lots of photographs from different angles of the port, transom, starboard,
stern, and bow. On sailboats, take photos of the companion way, mainsail, and
mast. If you can get pictures of your boat from the water and/or pictures of
your boat in the water away from docks, that will be even better.
Next, take
inside photos. Before you do, make sure the inside of your boat is tidy and
clean, and that everything you're not selling with the boat is out of the way.
In other words, if you are not selling that flat screen TV in your salon, don't
have it in your pictures. Take photos of the electronics, forward cabin, engine
room, engines, heads, galley, salon, state rooms, v-berth, etc. You'll also
need photos of the helm, fly bridge, companion, and mate helm seats. If the
boat is on the hard, take photos of the propellers, rudder, and/or keel.
Take overall
photos, not just close-ups. Again, look at other boats for sale and notice
which of their photos you like to look at-guaranteed, your potential buyers
will like them also.
4. Advertise
Where you
place your ad will determine how much information goes into it. However, the
more places you can place your ad, the better are your chances that it will be
seen. There are several websites and forums that will let you advertise your
boat for free. These include Craigslist.org, BoatBoss.com, and AdPost.com, to
name a few. Other sites advertise no fee, but will actually charge you in the
vicinity of $350 up front. So, make sure you read the fine print first before
placing your boat ad online. Used boat magazines are still a good way to go,
but don't limit yourself to just them. They are harder to update with price
changes, photographs, etc.
Your ad
should include a full description of your boat, the number of hours on the
engine and generator, as well as dates and notes on any major rebuilds. Is your
boat fresh water or raw cool? You'll want to reveal any weaknesses the boat may
have, how long you've owned the boat, and, most importantly, why you're selling
it. Its okay to say you're moving up to a bigger boat, stepping down to a
smaller one, or retiring from boating. At the end of this chapter you will find
a table with a list of specifications you should include in your ad-use this as
a worksheet for writing your ad.
Wherever it
is, put a "for sale" sign on your boat so others around will know
you're selling.
Last, but not
least, create a sales brochure for your boat and keep copies handy.
5. Time your sale
Most boats
sell between March and September, with a lull in late August and early
September. During April through June, people are looking, especially, for
purchase by the July 4th holiday. November quiets down again. If at all
possible, have your boat in its natural environment (the water) for the best
show. On average, it takes a good three to six months to sell a boat. However,
some boats have been known to sit for years. It depends on how well you priced
your boat to sell, how clean it is, and how well it's advertised.
6. Decide whether to use a broker
If you don't
have time to do the research to write and place ads, create and put up signs,
take calls and make appointments, show your boat, or sell your boat, a broker
is the best way to go. A broker can do all the running around for you, i.e.,
place the ads, qualify the buyer, show your boat, etc. A broker has access to
other brokers; better websites on which to place ads than non-brokers have,
such as YachtWorld.com; and the used boat books mentioned in Tip 2 above.
Most boat
brokers charge a 10 percent commission, though some charge less. Most brokers
truly earn their commissions.
7. be careful about upkeep and use during the selling process
Maintain your
boat insurance until you close the deal.
Keep the area
around the portholes clean, the batteries acid free, and no mold or mildew
showing anywhere. If you're demonstrating the boat, take off the plastic. Let
the potential new owners feel the wind in their faces.
Don't use
your boat after you've signed a purchase and sale agreement (P&S) and/or
have a deposit from the buyer.
If your boat
is old and/or hasn't had been surveyed recently, contact an accredited marine
surveyor and have it done. Either way, have a copy of the latest marine survey
for your boat available for review by potential buyers.
Have receipts
on hand for big-ticket items you've bought and repairs you've done, or the name
and contact information of the service center that did your repairs, in case
your potential buyer or the marine surveyor asks to see them.
As mentioned
in Tip 4, here is a list that you may want to put into a table and can use as a
worksheet for developing effective text for advertisements and brochures about
your boat.
My Boat
Basics
·
Boat
name
· Type of boat
· Year built/year first used
· Current price
· Brand/manufacturer
· Model
· Location used/stored
· Hull material
· Engine/fuel type
· Type of boat
· Year built/year first used
· Current price
· Brand/manufacturer
· Model
· Location used/stored
· Hull material
· Engine/fuel type
Additional Specifications and Information
·
Specs:
·
Builder
· Designer
· Dimensions
· LOA (Length overall)
· Beam
· Maximum draft
· Displacement
· Bridge clearance
· Engines:
· Engine brand/manufacturer
· Engine HP (horse power)
· Engine model
· Cruising speed
· Maximum speed
· Engine hours
· Designer
· Dimensions
· LOA (Length overall)
· Beam
· Maximum draft
· Displacement
· Bridge clearance
· Engines:
· Engine brand/manufacturer
· Engine HP (horse power)
· Engine model
· Cruising speed
· Maximum speed
· Engine hours
·
Tanks:
·
Fresh
water tanks
· Fuel tanks
· Water heater
· Galley
· Accommodations
· Fly bridge
· Other:
· Fuel tanks
· Water heater
· Galley
· Accommodations
· Fly bridge
· Other:
Posted By: Stowaway Marine http://stowawaymarine.net/
