Avoid Private Sales Pitfalls
Time Drain time to place ads, answer calls, meet prospects, show boat, provide documentation, wait for checks to clear, etc.
Inconvenience late night phone calls and text showing hassles often broken appointments.
Danger exposing family and property to the general public?
Costly often ineffective yet considerable advertising expense.
Financing inability to provide financing for buyer.
Litigation exposure associated with differences in buyers perception of undisclosed problems.
Buyer Expectations prospects seek a clean boat. This will require time and cost money.
Damage & Repairs in the Interim.
How Can I Sell My Yacht Fast
How to Sell a Boat Fast
Ask Local Brokers And Dealers
Brokers and dealers in your area have extensive economic and historical data about the market trends on the boating market.
If you want intelligence scoops on the best time and the best price to sell your boat, talk to experienced and reputable brokers and dealers in your area.
Most of them will cooperate and advice you on the best way to sell your boat. Ask for their thoughts on the value of your boat.
If they have boats identical to your own, ask them why the boats are still on the market and the challenges you might face in trying to sell yours.
They may even help you sell the boat if you dont want the hassle of marketing.
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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.
Setting Your Boat For Sale Price With Nada Guides
The NADA Guides for boats lets you look up a make and model by year, and includes a very comprehensive database of different boat models for everything from personal watercrafts to power cruisers. It even allows you to check off the boxes for specific options a manufacturer may have offered, different sized powerplants, and electronics, all of which have an impact on how to price a boat.
Taking all these different details into account, the NADA guides provide information on the boats suggested list price, current low retail value, and current average retail value. There are several very important variables the NADA Guide cant take into accountmore about those, laterbut the numbers youll see in the NADA Guide do give you a fairly reasonable starting point to work from.
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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!
Which Boat Broker Should You Use
If a brokerage sounds like a good route for you then its time to think about which one to use.
You will need a brokerage which:
- Can sell your boat fast The longer its sitting around, the more its costing you. Sell now to maximise the value of your sale.
- Operates in your area The brokerage will need to be selling in your area to conduct viewings.
- Has a no sale no fee policy They should only take a penny from you after they have sold your boat.
- Doesnt lock you in Some brokers have policies about where else you can list your boat. Dont tie yourself down, keep your options open and make sure your broker isnt so restrictive.
- Takes the photos and creates the advert They are professionals, with professional equipment, and experience in creating the perfect ad for your boat. Make sure you make them work for their money.
- Has a wide reach If they only advertise in one small shop in one marina, your boat will never sell. Yacht brokerages should advertise your yacht far and wide to bring in the right buyer sooner.
At Ardent Training, our preferred yacht brokerage is Boatshed. They are the modern, forward-thinking yacht brokerage and tick all of our boxes. Boatshed has the largest reach of any yacht brokerage we know of, meaning your yacht will sell in half the time and you are more likely to get your asking price. Not only is their platform fantastic, but their service is excellent too, providing a personalised experience for every buyer and seller.
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Getting Offers And Negotiating
Getting an offer is exciting. But it can be maddening, since it is rarely for your asking price so you must make decisions and negotiate.
In setting the price, we discussed the rock bottom offer you’ll accept. This makes the first part of negotiations easy – if it’s below that number you won’t accept it. The trick is coming back with a counteroffer that keeps the buyer at the table.
Don’t be offended by a low offer and refuse to negotiate. The buyer has nothing to lose with a lowball and has no emotional attachment to your boat. You can counter with a more reasonable offer or politely decline. But it’s better to counter, just to see if the buyer is serious.
Negotiations also do not have to be just about the cost of the boat. Specific items to be fixed or changed, additional equipment can be included or excluded, and other non-tangible items can be negotiated.
“I’ll give it to you for that price, but I won’t replace the chart plotter,”
“If you can come up $2,000 to my price I can include the outboard and dinghy,”
… are all fair terms.
How To Advertise A Boat For Sale
With the boat fully prepped and an asking price in mind, its time to start generating some leads. In this day and age most people advertise their boat on a number of different internet sites that offer classifieds. Some are free, some are not, and all offer unpredictable results. You may also want to advertise in a local paper or boating magazine. And dont neglect the tried and true tactic of simply hanging a For Sale sign on the boat and placing it in a high-visibility area near a busy road or marina.
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How Long Does It Take To Sell A Boat
Selling a boat in a timely manner is key. Just like a house, the longer a boat stays on the market, the more buyers wonder what could be wrong with it. Working with a yacht broker or boat dealer to sell your yacht will most likely expedite the process, given the contacts and marketing savvy that they have after all, they have made a career out of selling and helping to purchase yachts.
How To Sell Your Boat: Tips For A Quick Sale
Ask a dozen brokers how to sell a boat, and youll get a dozen different answers. The truth is that there are specific audiences for various kinds of boats, and sellers need to work with brokers who know their way around those audiences. So, what are the right steps to take when youre looking to sell? Start with the basics.
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Do You Need A Broker To Sell A Boat
While for sale by owner might make sense at times in the real estate world, the reality is that selling a boat is often more complex and much more time consuming than selling a home. Showing the boat and handling sea trials can be extremely time consuming. Additionally, selling your boat through a broker is much more likely to result in a quicker sale than by yourself. Ask potential brokers about their experience before selecting one to handle your sale. How many transactions have they been involved with? How quickly do they typically sell? Are they willing to show the boat any day of the week? How hungry are they to sell your boat?
How Do You Find The Right Broker
Choosing the right broker is an important step in selling your boat. Brokers often specialize in boat types, sizes, and geographic regions, so its usually best to choose a broker who already represents boats similar to yours, and who operates his or her business close to where your boat is located. Here are some ways to make sure you find the right broker to sell your boat:
- Interview several by phone, email, and in person
- View the presentation of their other listings on YachtWorld, and ask yourself: do those listings look like something I would be proud to show to potential buyers?
- Send the broker an email. Do they respond quickly?
If youve searched for a broker and still arent sure who would best represent you, you can list your boat to find a broker. Only brokers will be able to see the listing, and the ones who feel they are a good fit for you and your boat can reach out to you directly.
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Class Associations And Clubs
If you own a popular boat there is likely an owners club, a class association, or a brand association out there. If you never got around to joining it when you owned the boat, many of them are just websites you can sign up for. And almost every one has a trading post for boats, parts and accessories.
Not everyone in these clubs owns a boat, they may be there because they admire them and are looking for one. I found a Laser through a Laser sailors association. I didn’t own a Laser at the time, I went there looking to buy a used one.
Club members are enthusiastic about their boats, so if they see a nice one for sale they may tell friends about it.
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.
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How To Prepare Your Boat For Sale
Its easy to sell a new boat because its shiny, polished and modern. But a second-hand boat needs to be properly prepared.
An attractive, well-maintained and damage-free boat can be sold quickly, but there are a few tricks to be aware of.
First: a thorough cleaning is necessary. There are special cleaning liquids or granulates for this. What you need to remember is to clean the deck with a brush and the hull with a non-scratching sponge.
Once youve given the boat a good clean, youll be able to see the minor damage and dents more clearly, so its time for a thorough condition survey. Walk around the craft, inspect every square inch and mark any damage you see, for example with masking tape.
Preparing Your Used Boat For Sale
Properly preparing your used boat for a sale is key to selling it quickly. Just as important as when selling a house, proper staging is critical to achieving your desired price. As a boat seller, you should make sure your boat is in the best possible condition before putting it on the market. A well-maintained boat will be more appealing to buyers and will help you sell your used boat faster. Here are a few steps to prepare your boat for a quick sale.
- Clean the boats interior and exterior thoroughly
- Repair minor cosmetic problems
- Organize your boats service records
- Check and repair your boat trailer
- Give your engine a tune-up and fix any known mechanical problems
- Disinfect surfaces to prepare your boat for in-person showings
Take this helpful tip from Boat Traders Gary Reich. When I sold my little 18-foot center-console, I removed everything from it and loaded it into the back of my vehicle. Fishing rods, tackle boxes, safety kits, two-stroke oileverything. Then I scrubbed and cleaned out every last stowage compartment and locker on the boat, Gary said after selling his boat. Removing everything will help your prospective buyer imagine the boat as his or her own, versus one thats piled full of someone elses stuff.
Above: Cleaning a boat thoroughly before selling it is always a good idea. Photo: Gary Reich.
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So How Should I Sell My Boat
Each of the ideas listed above will help you sell your boat faster. Wholesaling is by far the fastest, brokering will put a professional on your team, correct pricing helps determine your bottom number, and maximum exposure helps bring the buyers to you.
If you are in the Must Sell My Boat TODAY category give us a call here at Off The Hook Yacht Sales and we can place a wholesale number on your boat and can offer cash. We also offer to broker, take trades, and will aggressively market your boat.
If you have any questions or would like to receive a wholesale quote on your boat, give us a call or fill out our contact form. Have any of your own tips for quickly selling a boat? Be sure to let us know!
Youre Moving Away From The Sea
Living on the coast makes it easy to access the ocean, but people move all the time. If you choose to move inland, selling your boat should join the other items on your list. Even if you intend to own a boat on a smaller lake, youll most likely want a different kind of luxury watercraft in order to navigate an inland lake than you have docked at the marina right now. Selling your boat becomes a priority before you can make your big move, even if you are sad to say goodbye to the waves.
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Take Photos And Video
Once youve got the boat all dressed up, its time to pose and take a photo. Not only do you need to take good quality photos, you need to take lots of them: the more photos and detail, the better.
When taking photos, avoid direct, harsh sunlight, but also avoid overcast weather. Its best to shoot before noon or in the late afternoon.
Its good to take photos of the boat in its natural environment, i.e. on the water this is something potential customers can identify with very well.
Dont forget to take a video: with a good quality smartphone, you can do both photo and video.
Its OK if the video looks a bit amateurish, the important thing is to show every detail of your boat.
How To Sell A Boat Online Or In Person Without A Boat Dealer Or Yacht Broker: Eight Points To Think Through Before You Start The Process Of Selling Your Boat
There are many websites that allow you to upload images and information about your boat that you have for sale, but is it worth going this route on your own?
- Ask yourself, how much exposure will this website give me?
- How many visitors per day does this website attain?
- Is there a fee associated with posting your boat for sale?
All of these valid questions will lead you to a well-informed decision on whether you should trust your boat to a website or to a knowledgeable yacht broker or dealer that has years of experience selling boats and yachts.
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How To Sell A Yacht
How to Sell Your Boat
Whats the best way to sell a yacht?
- Selling a yacht privately or with a Broker. Choosing to sell privately or through a broker is one of the first decisions to make when selling your boat.
- Photographs and video for selling a yacht.
- Maintaining confidence.