When the time comes for you to sell your boat or yacht obviously it is in your best interest that it sells quickly. In our experience boats that sit for more than six months, becoming dirty and deteriorating mechanically in the process, sell for less money. So with that said, how do you sell your vessel quickly and for the best price?

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There are a few key points to follow when selling your boat to insure that it does not become stagnant in the marketplace and in turn sell for a less than ideal price. Many of these points are obvious while others may not have come to mind. So here are the steps you should follow:

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1. Price your boat right from the start.

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• Like with most commodities, price is everything. To make sure your boat or yacht is priced right according to the market visit all of the online resource sites like BoatTrader, Yachtworld, Boats.com and NADA Boat Values. Compare your boat with similar ones in terms of year, make, model and options. The boats closest to you geographically will be the best comps. Be sure you are pricing your boat in line with what you find on the market. Don’t be too proud of your boat and be priced several thousands of dollars over the next highest comp.

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• Call sellers that you see offering comparable boats. Ask them how long they have had their boat on the market. If it has been on the market a while ask them why they think their boat hasn’t sold. Also, ask them what is the least they would accept for the boat.

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• Do the math! Sit down and think about a number of factors. What does the boat cost you to own currently? Loan payment, insurance, taxes, storage, maintenance. How many hundreds of dollars does the vessel cost you to own each month? The faster the boat sells the less of those costs you will incur. Price the boat in line with the market. Don’t worry about building in wiggle room. Wiggle room does you no good if no one calls about the boat.

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2. Prep the boat to sell quickly

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• If your boat is priced right expect potential buyers to come quickly. Make sure the vessel is prepared to be shown to those buyers. A potential buyer does not want to see a dirty boat, full of the owner’s stuff. They certainly do not want to come to see a vessel that is not mechanically sound. Be sure to have any cosmetic or mechanical issues taken care of before the boat is listed for sale. Clean all of your junk off of the boat. Clean the boat completely, even in the hatches and bilge.

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• Consider having the vessel surveyed. Having this survey in hand when buyer’s show up will give them an added sense of comfort in purchasing the vessel.

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3. Make sure the boat gets plenty of exposure

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• Finding the right buyer for anything is very much a numbers game. Odds are the perfect buyer for your boat won’t be the first person who sees it. It may not even be the 100th person who sees it. Making sure your boat is placed in front of as many eyes as possible is key.

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• Be sure your vessel is placed in a high traffic area where potential buyers will be passing buy. Listing the boat on multiple online platforms will also expose the boat to potential buyers searching online. Keep in mind though, the most trafficked sites charge as much as $150 or more to list a vessel.

 

4. Find the right broker or dealer who will work hard to sell your boat or yacht

 

• Odds are you don’t have the time, patience or desire to deal with the hassle of marketing and selling your boat. Do you have the time or knowhow to take the dozens of pictures of your boat that buyers will want to see? Do you know how to make a compelling listing for your boat that will get buyers’ attention? Are you ready to take countless calls and texts at all hours from potential or wannabe buyers? When a potential buyer wants to see your boat at noon on a Tuesday can you take the time away from work or skip your lunch break to meet them? Do you know the paper work necessary to complete the sale and title transfer of your boat and trailer? Can you help the buyer obtain the financing necessary to buy your boat? Probably not.

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• Selling your boat is a full time job, at the very least a significant time commitment. A professional broker will have the time to dedicate to seeing that your boat is properly listed. It is their job to see that it is getting the right exposure. When a potential buyer wants to view the boat at noon on a Tuesday they are there to meet them. The right broker already has the necessary paperwork ready to close the sale and knows how to help the buyer obtain financing.

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• The broker should do the adequate pricing research and provide you with a range they expect the boat to sell for and propose an asking price. Ask the broker how they arrived at that value and have them show you their supporting evidence. Remember, a boat priced wrong does you no good.

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• Make sure your broker’s company has a user friendly dedicated website with a professional presence. Be sure the listing broker has a positive, high energy personality so you’ll know he will go out and work to get your boat sold. If you don’t like them odds are buyers won’t either

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So what’s it going to be? Do you have the time and energy to commit to the DIY route of selling your boat? Does it make more sense to trust the sale of your boat or yacht to a dedicated professional with the tools and skills they need to sell it quickly and for great value? If it does please contact Carolina Boat Company today to begin the process. Email brad@carolinaboatco.com or call 919-659-5096 or fill out the contact form at the top of the page.