There’s no doubt that when it’s time to sell your boat the best way to do it is quickly. Over my 30+ years experience, I have seen boat sellers and brokers commit the same mistakes over and over again. The bottom line is that their boats sit on the marketplace for 6 months getting dirty, deteriorating mechanically, costing the owners a fortune and most importantly becoming stagnant. The end result is that stagnant boats, ones that are on the market more than 60 days, sell for less!
Over the years I have made almost every mistake there is in boat sales. Learn from my experience. The following are some key points on how to sell your boat quickly. Some are obvious, some are painful. However, if you do what I suggest you will sell your boat faster and for more dollars than other comparable boats on the market. You ask “this is too obvious why doesn’t everyone do it?” They don’t. Be thankful. It’s your opportunity.
- Go online 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.)
- 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.
- 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 boat's loan value on. So although inaccurate they are still something to consider.
- 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!”
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.