Thursday, June 30, 2022

How To Sell An Old Boat

Good Luck Selling Your Boat

New Boat Tour Selling my old Jon boat w/ 15hp motor

No matter what reason you have for getting rid of your used boat, its a good one. There are many things you have to do to get your boat ready for sale, but its worth the time and effort to ensure you are getting what the boat is worth. There are both pros and cons to selling to a dealer or to an individual, and you have to decide which one works best for you.

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

They Will Cut It Up And Part Out The Engine With Its Parts

Then take off all of the other parts that are valuable to them to sell off.

This is something that you could do as well if you would like to. Take off all of the metal, rod holders, cleats, T-top, bow rail and everything else that is aluminum or metal and a recycling place will pay you for it.

Then you could also try and sell these items as well. That is if you would like to take a long time to get rid of the boat. Sure, you will get more money out of it, but it will take a lot longer to get rid of.

You will still then be left with the hull that has to make it to the dump, one way or another. You can pay someone to haul it off or you can load it up yourself and take it to the dump. That is if you have the trailer, truck and time to do all of this.

The scrappers will take it for free usually because they get the value out of being able to part out the boat and engine. Otherwise, there is no incentive for them if you have removed all of the valuable items.

Then you will be stuck paying them money!

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What Is The Best Time Of Year To Sell A Boat

What most people is that the best time of year to sell a boat is between February and June. You can probably expect 3 times the amount of action in this time period as opposed to waiting to get into the heart of Summer. And in case you live in a perpetual boating season, such as in Florida, this time period still holds up!

Selling Your Boat: Quick Start Guide

Antique Boat Canada
  • Tell its story and determine the right place to advertise your boat.
  • Make sure the boat is clean and in good condition.
  • Take pictures and video walkthrough tours to add to your boat listing.
  • Set a priceperform a boat survey, if necessary.
  • Conduct a sea trial with potential buyers.
  • Negotiate price.
  • Organize the documentation: registration, service history, owners manual, etc.
  • Work with a broker on creating a contract, new registration, and insurance details.
  • Recommended Reading: How To Look Up Boat Hull Numbers

    Pricing Your Boat Accurately

    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!

    Going Over Your Options Where Is The Title

    First things first, we need to know what your situation is. Addressing what kind of situation you are in will dictate how you get rid of your boat.

    Things like, how important is it to get rid of? Where is it? Is the boat in your yard causing you frustration, or is it at a storage facility costing you money? What kind of boat is it? Fiberglass, aluminum?

    All of these things are important to consider. Aluminum boats are easy to recycle, where fiberglass boats have to be sent to the dump.

    What kind of shape is the boat in? Is the hull in decent shape, or does the engine run? If the hull is decent and the engine runs, you probably arent to the point of trashing the boat and taking a total loss on it.

    What does the trailer look like? Will it make 10 feet and the axle fall off or is it road worthy?

    Beginning with this type of assessment is going to really put your situation in perspective so you will know where to begin in order to dispose of the boat properly. Possibly even getting some cash out of it and just getting rid of it!

    One other thing that you want to think about, is that infamous title! The big question, where is that title? Is the title in your name? Is it a clean title?

    Recommended Reading: Who Owns Freedom Boat Club

    How To Get Rid Of A Boat: Disposing An Old Boat

    The real question that many people have asked is, how long is that boat going to sit there? Weve all heard that the worst thing for a boat to do is to sit. Which is extremely true, it is the first step to becoming a problem in the boat owning world. So

    How To Get Rid Of A Boat or Dispose Of An Old Boat? There are only four real options to get rid of a boat. You can either sell it, donate it, recycle it, or have it taken to your local trash dump.

    Getting an old boat out of your yard can be a grueling process. Here are your best options on how to begin and complete the process of getting that old boat gone!

    There Are Some Places Only A Boat Can Take You One Of Them Is Called Happiness

    Is it a bad idea to buy an old steel boat?

    Roads and highways can take you to some amazing places, but the route is the same each time, and you dont get to set it yourself. A boat lets you travel to some spectacular destinations, but the real joy is in the journey. Every trip on the water is an adventure, and its never the same one twice.

    As you think about purchasing a boat, there is a lot to consider what journeys do you want to take? The answer will help determine which boat is right for you, where to buy and store it, determine if you need to license or register it and, when youre ready to move on, how to sell or dispose of it.

    WHICH BOAT IS RIGHT FOR YOU?

    There is much to consider in determining the right boat for you and your family. What kind of boating are you interested in? Do you want to use it for day tripping or long-term cruising? How many people does it need to accommodate? How much do you want to invest?

    Our partners at Discover Boating Canada have and in-depth boat selector tool that can help you make the right choice. You can check it out here.

    WHERE TO BUY A BOAT IN BC

    If you are purchasing a new or pre-owned boat, we strongly recommend you use a dealeror certified broker. They will walk you through the process step-by-step, ensure the vessel has been properly maintained and surveyed and can also assist with marine financing, insurance and offer ongoing support once youre off using your boat on your own.

    STORING YOUR BOAT

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    No Two Used Boats Are The Same

    One thing that is for sure, unlike a car, is that you are not going to find your identical boat out there. Someone will have the same hull but upgraded motors. Another boat owner will have the same motors but more/less electronics. You will get in the ballpark easily, but the rest you will have to use your best judgment.

    Best practice here is to consider what it would cost someone to upgrade then back down from that .

    Get Your Boat Inspected By A Professional

    When you take a vessel out to sail, you want it to run perfectly, and you want all mechanical parts to be fully functional.

    Nothing knocks the wind out of your sails more than planning to take a prospect to sea trail only to have the boat not start up due to a weak battery.

    If youre unsure about the things that are worth fixing and dont want to miss anything, you should consider hiring a professional to perform a thorough boat inspection.

    Pre-sale boat surveys can help speed up the sales process and give buyers more peace of mind about their purchase.

    We know repairs can cost a decent sum but neglecting them can have a much bigger impact on your maximum selling price. Buyers often point out flaws and use them as bargaining chips to offer you less money.

    Lastly, remember to get most of the mechanical service done by professionals and try keeping records of everything youve done to your vessel. Documented work done by qualified mechanics can give buyers more confidence about their purchase.

    Also Check: How To Clean Mildew Off Boat Seats

    Craigslist & Social Media

    Social media sells things. And social media wants to sell you advertising, but there is free advertising to be found.

    Craiglist

    You can sell almost anything on Craiglist, and it works well for boats and offers good regional coverage. As of this writing there is no charge to sell boats, though they have added nominal charges for some items and services. You can use a lot of pictures and text, so it’s an excellent place to get a full listing. One listing should be sufficient regional searches show nearby boats to buyers and boat buyers will use them.First one with the cash is the rule on Craiglist. Dont hold something for someone unless you get a deposit, as buyers are often unreliable and you may turn away legitimate buyers waiting for someone who never shows.

    Facebook has paid advertising, but there is also the Marketplace with free listings. There are also dozens of “boats for sale” groups on Facebook where you can list your boat for free to communities of boat buyers.

    You will have to Join those groups and comply with their rules. Some groups are general, such as Boats for Sale.” Others may be more much specific , with limitations on types or boats, price, or geographic location.

    Facebook may prompt you to “boost” your ads. You can do it, but you can put it up there without a boost to see how it does.

    Twitter, Instagram and others

    What Are The Downsides To Boat Consignment

    This Weekend  The 2012 Toledo Antique and Classic Boat ...

    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.

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    Can I Trade In A Boat I Still Owe Money On

    Yes, you can trade in a boat you still owe money on. If your boat has a trade-in value of $20,000 and you still owe $10,000 on the boat, when you trade in the boat, the dealer is purchasing the boat from you for $20,000. $10,000 will go to the bank to pay off the loan and the remaining $10,000 balance will go to you.

    In the case of a trade-in, that $10,000 that is coming to you will be applied to the purchase price of the new boat.

    Another scenario that I hope you dont find yourself in, but many people do is referred to as being upside down in your boat. This is when you owe more than your current boat is worth.

    If you are trading in a boat that you are upside down on the payments, then you can assign the additional debt to the purchase price of your new boat.

    The debt does not go away, but it is tied to the new boat so you have the benefit and enjoyment of the new boat, but the responsibility to repay your debts in full.

    With this said, all of this is based on your credit score and the ability and willingness of the lender to work with you when you are trading in a boat you are financial upside down in.

    What Information Do I Need To List My Boat For Sale Online

    That means at a minimum you should ensure there are no typos, spelling or grammatical errors. As we in the journalism business like to say, If you couldnt be bothered to spell things correctly, people are going to wonder what else you got wrong. People will stop reading a sloppy news story. With a clunky classified boat listing, they might just move on to another ad.

    Provide as much detail as possible within the allotted space on the website where youre listing your boat. Use exact builder specifications for the boats dimensions, including length , beam, draft and gross weight. Provide bullet points to highlight improvements, optional upgrades and aftermarket equipmentsuch as additional seating, electronics and navigational systems. Dont forget to include model numbers and brand names for any equipment onboard as well as details on the boats electrical system. Overall, make it easy to read and digest.

    Include details about every feature on your boat including upgrades and equipment.

    Also, for buyer and seller peace of mind, consider a Boat History Report for your vessel. For a while, buyers purchased the reports , but now sellers are providing the reports upfront too. You can purchase a report at boathistoryreport.com, a nationwide database that details boat histories by hull identification number . The site has roughly 100 million boat registration records on file. Obtaining a boat history report as a seller is another way to ensure a quick sale of your boat!

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    Negotiating Price And Closing The Deal

    Once the buyer is ready to sign on the bottom line, its smart to work with a broker to sort out contract, tax, registration and insurance details, depending on the state of sale and the boats future home. Dont call one broker and go with him interview several, and find one not only who knows the ins and outs of the legalities, but who also can help the buyer feel that your boat is just as special as you have promoted it to be.

    In the end, youll hopefully be giving the buyer a great boat as well as his own first great story to tell about becoming its owner.

    Where To Get Rid Of Your Boat:

    Buy & Sell – FREE old Johnson Sailmaster 8hp outboard motor!

    Now that you have decided to get rid of your boat, you might be wondering where you should get rid of it.

    Places where boating is more common often have more options. This is commonly near oceans and towns that have high amounts of water traffic.

    Florida and California are two common places where people seek to get rid of their used junk boats.

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    Working With Boat Brokers And Dealers

    If you understand how to sell your boat, but you really dont want to invest all the necessary time and effort, you can always enlist the help of a professional boat broker or dealer. Or, you could simply trade in your boat if youre buying a new one from a dealer who accepts trades. Both options are easier than selling a boat yourself, but there are some pitfalls to either approach. Brokers will take a cut of the proceeds, and you rarely get anything like top dollar on a trade-in. To learn more about these options, be sure to read Trade-In or Sell Your Boat.

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