Thursday, July 18, 2024

How Much Can I Sell My Boat For

Tips On Ways To Sell My Boat


Selling a boat isnt as simple as selling a car. As a prospective buyer cant just jump in go for a drive around the block, look in the glove box and see the service records nor easily find its real value. Comparisons can be problematic in the used boat sector due to so many variables that influence the price.

Boat Pricing in simple terms the easier it is to dispose of and sell the boat, the lower the amount you receive.

A balance must be found factoring convenience to the seller, the risk to the buyer, condition, warranty, ease of purchase and costs to bring the hull/trailer and motor back to seaworthy/roadworthy and reliable condition.

The following information and overview is, in my opinion, are four considerations on ways to Sell Your Boat in 95% of cases, being via a Boat Auction, Selling your boat privately, selling your boat via consignment and direct sale or trade into a trusted dealer.

I Built A Homemade Boat How Do I Register It

Homemade boats must be assigned a hull identification number . To get a HIN, persons should initiate the boat registration process and pay for registration using the normal process so that a record of the boat is in our system. Only the person either building the boat or furnishing materials under a contract for another to build a boat may apply for a HIN and register a homemade boat. Such boat may not be sold.

HIN Inspections are conducted through the DNR Law Enforcement Division at the boat location. List of game warden offices by county.

Inspections will not be performed if customers have not paid for a registration in advance of the inspection. Boat owners should bring receipts for materials used to construct the homemade boat if done themselves or bring the contract they used to provide materials and have another person build the boat, and should bring any other documents and correspondence that relate to the boat, boat construction, or registration process that may be helpful during the HIN Inspection to support registration.

Should I Work With A Dealer

If you do not want to go with a broker but are also not sure that you can find a buyer on your own, you can go work with a local boat dealer.

This means that you would store your boat on a boat dealerships property instead of trying to display it in your own front yard.

This might come with a cost depending on the dealership. This is because you are using their floor space that they could be used for their own inventory.

However, dealerships are willing to do this to help deepen their relationship with you in hopes that your next boat purchase will be through them.

Selling your boat can be a daunting task, but just know that there are options out there, and one is sure to fit your needs!

Recommended Reading: Get Mildew Off Boat Seats

Boat Motor Scrap Value

This leaves us with the motor on the boat. Which depends on whether or not the engine is ready to be scrapped, or fixed. There are many reasons why an engine will meet the scraping requirements.

Maybe it has blown up, locked up, or worn itself to the point of not being worth fixing. Any of these can be an excellent reason just to scrap the engine.

Make sure it is at this point before doing so though. You can always have it looked at to see if it has any value to someone before taking it in for scrap.

Scrapping it means that all of the parts have to come off to get clean metal, or taking it in and seeing what they will give you for dirty metal.

There are a lot of scrappers out there or also wholesalers that are interested in buying used blown up engines. They will go through and remove all of the parts, selling them one at a time.

Sometimes boat rental companies are interested in buying engines like this for the parts that are on them. Buying the engine for the lower units, or the miscellaneous electrical and fuel components that they can use on their rental boats.

Obviously, the end goal to scrapping the boat is to get the most money possible! Right?

Pricing Guides For Boat Sales

Buying And Selling Overseas

Helping to arrange Boat Financing for your buyers is helping yourself get paid, and contrary to common sense, many people are shopping before they ever actually secure the funds! A new Boat Lender just popped up here in South Florida called Hydro financing and I would definetly give them a shout. Theyre designed specifically to get in and out quickly with rates that are just as good as you would get through any other lender!

Also Check: What Is The Best Bowrider Boat To Buy

Pricing Your Boat To Sell Using Iboats Sell A Boat Program

  • Compile a list or scrapbook from local classifieds and the internet of boats that are similar to yours. Compare prices, condition, engines, etc. to help you price your boat. Pricing the boat correctly for your market is an important selling strategy. Some boats command a premium in certain markets while the same boat will sell at a discount in others. Getting the price right for your market will mean a quick sale and no worries about money “left on the table.”
  • The best place to find and compare boats and sales prices from many different areas is the Internet there are a number of sites including Boats For Sale that you can use.
  • Another source for pricing information is the marine “Blue Book” that your local bank, or boat dealer may be willing to share with you. You should also check the Boat Prices page that will help you price your boat by entering your zip code, and boat information.

Q: What Should I Do If I Am Buying Or Selling A Boat

A: In order to execute a boat transaction, the following items are necessary:

  • Bill of sale
  • 12-character serial number pencil tracing
  • Proof of payment of Massachusetts’ sales tax
  • A completed application
  • Appropriate fees
  • Title from seller if applicable

Massachusetts sales tax is now payable online. For more information visit the Department of Revenue website or call 392-6089.

In addition to the previous requirements, if the boat is 14 feet or greater in length and uses a motor either temporarily or permanently, or if it is designed for use with a motor, the certificate of title must be signed over from the seller to the buyer. The buyer then presents this information and documentation to the Massachusetts Environmental Police Registration Bureau to obtain a new registration card and certificate of title.

You May Like: Does Aaa Cover Boat Trailers

Let Boatersnet Help Sell Your Boat Or Find Your Next Boat

BoatersNet is the premiere online site to sell your boat nearly free. We offer a platform that is optimized to sell your boat and to make sure that it is easy to use and that your boat will sell fast. There are several reasons why you may need to sell your boat. If you are moving, have financial reasons, or just want to upgrade to something bigger or better â let us help you sell your boat. The reason for selling the boat isnât necessarily important, what is important is that you want the boat sold quickly. If youâve come to a point in your life where you say, âItâs time to sell my boat,â get it sold on BoatersNet.

BoatersNet also offers thousands of boats for sale. From Sailboats for sale, to fishing boats, ski boats, houseboats, pontoon boats and more we make it easy to find your boat. We have a quick search feature to find boats for sale by general categories such as price, year and manufacturer. And we also have an advanced search feature to find boats for sale by other features such as hull material, zip code search or a keyword search to find boat using a certain phrase. Let us help you find your new boat today on BoatersNet!

We Buy Boats That Are Financed

Do I need YACHT BROKER LICENSE to Sell Boats? Boat Broker License vs Yacht Broker Training Explained

If you still are not comfortable facilitating selling your boat with a lien, Off the Hook Yachts has a proven process for buying boats that are financed at wholesale prices and takes care of all your paperwork so you dont have too! We plan on keeping this strong reputation for many years to come. Fill out the form below and get the wholesaling process started today!

Read Also: Does Aaa Cover Boat Trailers

Q: What Do I Do With The Registration Certificate Number And Decal

A: The registration certificate is proof that the boat is registered. It also serves as proof of ownership if the boat is not titled or documented. The registration certificate should be available for inspection on board the motorboat whenever it is in operation.

The registration number is assigned when you register your boat for the first time. It should be painted or attached to each side of the forward half of the boat. It should read from left to right, be in block letters not less than three inches high, and contrast with the color of the boat’s hull. The number consists of the letters MS followed by no more than four numbers and two capital letters. A two-inch space or hyphen must separate the letters and the numbers. The registration number is issued to the boat owner and not the vessel. Therefore, it can be transferred to different boats for a given owner, but it cannot be transferred to a new owner.

The registration decal should be placed in line with and three inches to the stern of the registration number on the port side of the boat. The decal is issued with the initial registration and each registration renewal it indicates the month and year that the registration expires.

What Are The Downsides To Boat Consignment

Boat consignment is often a great way to sell your boat. However, there are some downsides to consider before you consign with a boat broker to sell your used boat. Lets discuss a few:

  • Lots of Inventory: A boat dealer may have a lot of used boats to sell. Will your boat get their full attention?
  • How will the boat dealer market your boat for you? Is it simply listed on their website, or will they list the boat in national publications for maximum exposure?
  • Brand Knowledge: If you are switching brands, the dealer handling your consignment may not be very familiar with your type of boat. A great friend of mine got a real deal on his latest boat. He purchased a power catamaran from a dealer down in Florida that only sold monohulled boats. They did not know how rare the boat was and had it listed nearly $10,000 below market value. He called, put down a deposit contingent on sea trial and inspection. The dealer had 3 higher offers come in within hours of my friend locking up the deal.
  • Sure I could have left out these negatives, but you need to think through the pros and cons of any financial transaction and the purchase of a new boat, even if it is a used boat, is a major financial decision.

    Editors Note:Want to know how I sell my boats for top dollar? I call Bob over at Anglers Edge Marine and usually work with him.

    This leads us to the idea of buying a used boat.

    Also Check: How To Look Up Boat Hull Numbers

    Selling My Boat On Craigslist

    I feel its a must to address selling a boat on Craigslist because its that one platform that everyone believes works, but also the platform everyone is the most afraid of.

    Here Is The Deal:

    Craigslist rings your phone! However, it is also true that:

    • Many of those people will never ask you one question about the boat before asking for a discount first
    • Many of those people will be dealers or brokers trying to pitch you their services
    • Many of those people will be dealers or Flippers offering you significantly less so that they can sell your boat for their own profit.
    • Many of the emails or texts you receive could be scam artists.

    So, if you are in a rush you should use Craigslist! However, be prepared for the debris thats going to come in with that flood of action your listing recieves.

    Tip: If a lot of people are calling you offering you cheap prices upfront, thats a good sign. Those are dealers or people that flip boats on the side who think your boat is in high demand.

    Pricing Your Boat Accurately

    What are Pontoon Boat Sea Legs &  How Much Do They Cost?

    The next thing you need to do is come up with a reasonable price based on the boats value. The average value of a vessel may not necessarily dictate your asking priceespecially if you want to sell the boat fast. If youve made extensive modifications that may greatly increase the value of the boat, be sure to include those points within your listing description. But also remember that most accessories will not increase the price of your boat.

    There is always a tendency among boat ownersor enthusiasts of any kindto harbor an overinflated sense of what their boat is worth. Its normal. It happens because boats are emotional purchases, which have often produced a lot of happy memories for an owner. This contributes to the exaggerated sense of value in many cases.

    The goal is to get the highest price for your boat so you can have more money to spend on your next one. However, you want to be as realistic as possible about the price of the boat youre selling.

    Boat Traders Emma Coady recommends to, Set your rock-bottom sales price in your head before listing your boat for sale. This will ensure you will not walk away from the deal disappointed. Knowing your rock-bottom price will give you a baseline for negotiating with potential buyers!

    Don’t Miss: How To Register Boat In Missouri

    How Much Should I Sell My Boat For

    For most people selling a boat, the priceIsnt Right. And what I mean by that is that they either set their price to low or too high .

    What is essential when pricing anything, much less an item as expensive as a boat, is to research the heck out of it and then price it just a hair higher than you conclude. We will get to the why in a bit.

    The most obvious starting points will be public listings. If you want to know the best places to look for boat sales try these websites first:

    • BoatTrader
    • Yachtrader

    I Am Selling My Used Pleasure Craft How Do I Transfer The License

    When you sell your pleasure craft, keep a copy of your bill of sale in case someone later questions the ownership of the vessel. Provide the new owner with a signed bill of sale. The new owner will then have to transfer the pleasure craft licence by sending an application form and the necessary documents by mail to the Pleasure Craft Licensing Centre. A pleasure craft that is the subject of a transfer of ownership may be operated until the day on which the new owner of the pleasure craft receives a transferred licence, up to a maximum of 90 days from the day of the transfer of ownership, if documents are carried on board confirming the name and address of the new owner and the date of the transfer of ownership.

    Also Check: Capital One Boat Loan Rates

    Should You Use A Broker

    Theoretically, a buyers broker can help you recognize the signals. The reality is that even a buyers broker is being paid according to the selling price of the boat. Theres an inherent conflict of interest: you want to get it for the lowest possible price, they get more if you pay more. Good ones are a considerable help in the purchase process, but do your homework and make sure you have a good one.

    Sometimes buying a boat through a broker can get a lower price as the sellers broker can explain to the seller why your offer is a good one sometimes you can get a better deal by talking with the seller directly, either sensing their eagerness to sell or demonstrating why they are the best possible new owners for their well-loved boat, even if their offer isnt the highest.

    In other words, there really arent any givens as to what you should offer. And if a broker tries to tell you of a rule of thumb, Id be leery. Do your homework on similar boats. Think about the rest of the buy/sell situation. Come up with what you think is a reasonable number, and make sure it is well within your budget .

    Hopefully, youll arrive at a price that both you and the seller are comfortable with and soon youll own a new boat!

    Determine Your Boats Value: How Much Is My Boat Worth

    Luxury Yacht Service On How To Sell My Boat Online Quickly

    There are a number of factors that determine the value of a pre-owned boat. The most obvious ones include size, age and model. After that, there are more subtle elements like condition, location and equipment can be factored in. The best way to find the value of your boat quickly is by using Boat Traders boat price checker tool. With this tool, you can determine the value of your boat based upon similar boats that are currently on the market. For an even deeper dive, you can head to Boat Traders search results, where you will find up to the minute pricing on boats like yours.

    Websites such as NADAGuides can also help you pinpoint a real-world value on the boat youre selling. The company pulls in data from dealers nationwide and crunches resale numbers to establish the values it lists. NADAGuides compiles the data and publishes the values every two months. While the prices may not be as up-to-date as the live pricing on Boat Trader, NADAGuides is surely a reputable source that can help inform your pricing decision!

    Ensure all high traffic areas on the boat are cleaned well when welcoming potential buyers aboard.

    Also Check: How To Remove Mold And Mildew From Boat Seats

    Popular Articles
    Related news