How do I sell my boat quickly?

1. Price it right. Price it right. Price it right.
(This is kind of like the real estate brokers axiom of location, location, location.)
How do I do this?

1. Go on line and check all of the internet sites. Yachtworld, BoatTrader, Boats.com etc. etc. Print a copy of all the comparable boats to yours. Note the total number. Note any key features others boats have or don’t have. Also look at other boats engine hours, does it have a trailer, bottom paint, etc., etc. This is all very important. You need to compare apples to apples. (Example - bottom painted trailerable boats sell for less.) Note the locations where the boats are listed. (Example – Florida boats sell for less – heat, sun, wind, salt and year round use.)
2. Call a few brokers that have boats that are comparable to yours. Tell them who you are and what you have.  Most brokers should be very cooperative. Ask them why the boat they have listed hasn’t sold. Ask them what they think it would take to sell their boat. Ask them what they think your boat is worth. Ask them if they were going to trade it what they would give you for it.
3. Check the pricing guides BUC and NADA, but don’t put much faith in what they say. Most of these, in my opinion, are totally inaccurate but they are what the banks base your boats loan value on. So although inaccurate they are still something to consider.
4. Now sit down. Look at all the data you’ve collected. Calculate what it truly costs to hold on to your boat for a few more months. Be honest with yourself! (Note: what you owe on your boat has nothing to do with its retail value.) Don’t worry about putting “wiggle room” in your number. You won’t have to worry about “room to negotiate” if nobody calls. Now price your boat to be the next one to sell. I know it’s painful but I don’t remember any seller ever telling me “wow, I sold my boat to cheap!”

2. Prepare you boat to sell quickly.

1. Make sure your boat is waxed, clean and shiny. Carpets, engine, cushions, everything. If you don’t have the time to hire a detailing company. There is no doubt that this will be the best money you ever spent.
2. Make sure everything works properly. No jury rigged systems. Make sure the boat runs well. (I can’t tell you how many times I’ve seen sellers get to the goal line and fumble with a boat that just wouldn’t run right. Some people just won’t listen.)
3. Make sure your boat doesn’t smell. Clean the bilge. Pump out the holding tank. Don’t use some artificial fragrance to mask the smell. It won’t work. Worse case use and ozoneator. (Call me for details.)
4. Get your personal junk off the boat. Everything. If you don’t plan to sell it with the boat remove it. Cluttered boats don’t show well.
5. Consider having your boat and engines surveyed. Make this survey available to serious buyers upon request. A survey will not only point out the items that need to be corrected but also will help a potential buyer decide on whether your boat is worth making an offer on. The internet is a powerful tool. Internet buyers can’t touch, feel or see your boat. A professional survey conducted by a SAMS or NAMBS surveyor will add credibility to your listing and separate you from the pack.

3. Exposure

1. Trailerable boats – Highway frontage. Place your boat where 1000’s of cars go buy it a day. You can’t get better advertising.
2. Yachts – move the boat to the brokers or dealers office. This makes it easy for the sales people to show your boat. (Make sure their location is not on some remote “backwater” where you need a GPS to find it!)

4. Pick an aggressive dealer or broker that's going to work for you.

1. Check with your boating buddies. See what they think about the different local dealers and their experiences. You can also check out some of the boating forums such as HullTruth and Tidalfish to view what other boaters have experienced with local dealers and brokers.
2. Make sure you get the right salesperson in the organization. You want one who is hungry and experienced. Try to figure this out before you call. (Getting stuck with a “dud” can be a catastrophe!) Again ask your friends about their experiences.
3. Make sure their location will give your boat plenty of exposure. A highway site or active marina is best.
4. Ask them about their affiliation and experience with the big used boat internet sites such as Yachtworld, Boats.com and Boattrader. All of these are potentially good websites to list your boat.
5. Check out their print advertising. Although not as effective as it used to be its still part of the package.
6. Ask them to do the pricing research. Even if you have already done it. Make sure they tell you what they can sell your boat for quickly, not just the number you’d like to hear. Ask them how they came up with this appraisal number. Remember a boat priced wrong is a waste of your time and money!
7. Make sure your dealer/broker can and will take trades. Most potential buyers have a boat to get rid of. If your dealer won’t accept a trade on your boat your selling options will be severely limited.
8. Make sure that your boat is “special” to them. If your just one of 100+ other listings with one of the “mega” dealers your boat will get lost in the pile.
9. Make sure the dealer will prepare a quality listing. Look at his current listings online. Make sure they use plenty of pictures and an accurate and appealing description.
10. Ask them if they have experience with overseas sales. Right now unfortunately, the dollar is at an all time low. Due to our weak dollar foreigners are snatching up boats in the US because they are a relative bargain.
11. Consider bonusing the individual salesperson who sells your boat.
12. Consider giving the dealer an aggressive net to work from. The more potential income the hungrier they’ll be.

5. Sell it yourself

6. Wholesale

7. The Easy Way

If you don’t want to be bothered with all of this, just call us. We’ll do it all for you.
info@wyerivermarine.com
410-643-9966