Have you ever wanted to know how to sell a boat but didn’t even know where to begin? Don’t worry—you are not alone. Selling a boat can be a daunting and intimidating task if you do not have the right resources and knowledge. Fortunately, we are here to provide guidance on how to effectively market and manage your sale from start to finish. At the end of the post, you can get the most out of your transaction.
Scott Ewart outlined all of the steps for how to sell your boat privately in this blog post. Furthermore, we provide you with some top tips for selling your boat quickly. Read on for more detailed instructions on how to sell a boat successfully without hassle!
How to sell a boat
Step 1: Prepare your boat before selling
Some preparations should be made. They include:
- Cleaning the boat thoroughly: Get rid of any dirt, grime, and mildew. This will help make it more attractive to potential buyers.
- Repair any damage: If there are any minor (or major) repairs that need to be made, take care of them prior to selling.
- Check and repair your boat trailer (if applicable): Make sure the trailer is in good condition for towing and hauling the boat.
- Organize your boat’s service records. Have the service records handy, as they will help to reassure potential buyers that the boat has been well taken care of.
Step 2: Capture high-quality photographs or video of the boat
Once you have settled on a fair asking price for your boat, the next step is to take good-quality photos. Your photos should showcase the boat’s best features and give potential buyers an accurate representation of how it looks in person.
Tips for taking superb boat photos
- Repeat this process again to find spots you neglected to clean and odd things you left behind
- Take close-ups and wide-angle shots. The best boat dealers in the county know that consumers want to see details and feel the spaciousness of the boat. Therefore, their photographers utilize lenses as wide as 14 mm to give people the feeling of space.
- Capture your neatly cleaned regions. Emphasize them!
- Wait for decent lighting. Pictures of your boat should be taken on a sunny day so that people can imagine themselves driving it on that wonderful day.
- Keep moving. Your yacht on a trailer or dock is OK if that’s all you have time for. You are again showing potential purchasers your boat in action and validating that it operates and drives as you say.
- Take plenty of pictures: Your boat is clean, and you have time, so take lots of pictures. Most postings don’t allow limitless photographs, but callers nearly always request more. More photographs boost the probability of attracting faraway purchasers. The reason is that they will seek as much information online as possible.
- Don’t forget to take pictures of all the changes, like a top that comes off or seats with removable cushions for sailing and fishing.
Step 3: Assess your boat’s worth
Before you can price your boat, it’s important to accurately assess how much it’s worth. Pre-owned boats are valued based on several variables. Size, age, model, and market average price are clear. Condition, location, and equipment are then considered. Boat traders and NADA Guides can also help you value your boat. Reading the post on how to price a boat for sale will help you determine the price of your boat in a detailed way.
Step 4: Correctly setting the price of your boat
Once you have determined the condition of your boat, it is time to set a realistic, competitive price. A good rule of thumb is to look at what similar boats are selling for and how long they’ve stayed on the market. Next, set a reasonable boat price based on its value. If you want to sell yachts quickly, don’t use averages.
Discuss the truth about boats. Like a shady merchant, they assume that if they improve their boat and attract more buyers, it will sell faster and get a better price. However, it makes more people hate boats.
Step 5: Make plans to advertise your boat
You can put ads for your boat in local newspapers and online, or you can contact a broker. You can even hang up flyers at marinas, boat clubs, and other areas frequented by boaters.
Names of popular websites for selling boats:
- Boat Trader
- Yacht World
Needed information about boat on online advertisement
– Write a detailed boat ad as much as possible, avoid spelling and grammar errors, and post beautiful images.
– Use the correct construction specifications for boat length (LOA), girders, draft, and gross weight.
– You should emphasize these information in bullet points:
- Highlight enhancements optional upgrades
- Aftermarket equipment
- Including additional seats
- Electronics, and a navigation system
– Include the appliance model number and brand name, as well as information about the boat’s electrical system.
– Preparing a boat history report for your vessel can reassure buyers and sellers.
Step 6: Show a potential buyer your boat (online or offline)
By placing your ads, you will likely receive a plethora of calls and emails inquiring about the yacht. For maximum convenience, prospective buyers can even conduct video chat tours and ship trials. So be prepared to answer all questions regarding model, condition, features, and add-ons with a well-crafted sales pitch!
Selling a yacht can sometimes be difficult, as it attracts people who have no real intention of purchasing one. They may just come for the free boat trip.
While customers might not want to risk getting out on choppy seas or starting an engine, which requires effort when it’s cold outside. Don’t let your goal become solely focused on selling the yacht. When testing in unfavorable conditions, you should prove all features available for their inspection. They can make an informed buying decision.
Step 7: Gather all necessary documentation
Before you can finalize the sale of your boat, there are a few documents that must be prepared. Make sure to have the following on hand: bill of sale, boat title or registration, boat certificate of origin, the title of trailers,…
Depending on the state or country from which you are selling, you may be required to provide additional documentation. Read our post about what paperwork is needed to sell a boat for more information.
Step 8: Pay and close the deal
Once you’ve agreed on a price and signed the contract, it’s important to make sure you get paid right away and without any problems.
Here are a few tips you should know when conducting a trade:
- Before the buyer pays, don’t give them any boat keys or paperwork. For large boats (e.g., sailboats, superyachts), you should seek advice from a qualified maritime attorney or legal counsel.
- To ensure a smooth boat sale, it’s a good idea to put together a checklist of paperwork before you sell. Before committing, thoroughly check all pertinent documents.
- For more information on the boat sale document, please read the manual carefully for more details.
- Ensure the validity of dollars when handling cash by verifying counterfeits.
- Before delivering the vehicle, it is important to ask a third party to count and verify the cash amount.
Perfect time of year to sell a boat
How to sell my boat? Choosing the best time to sell your boat is an important part of the process. As with any sale, timing is everything. The ideal time to sell your boat is when there is the most demand and when boat prices are at their highest. Generally, the best time to sell a boat is from February to June. To know more clearly, consult our post when is the best time to sell a boat here.
Boat brokers and dealers—should we call them?
Hiring a yacht broker or agent can save you time and effort when selling your boat. If using a brokerage, boat owners must pay the broker a commission of about 5–10% for the work they have done.
Top tips for selling your boat
Check boat’s condition carefully before showing customer
Before showing potential customers, it is important to make sure the boat you are selling is in good condition. If it needs repairs or cleaning, do this beforehand so that buyers can see how well the boat has been maintained and how much care has been taken with it.
Reduce your load for a boat sea trial
By removing the canvas, you can make sailing smoother and more efficient. Your boat will move with greater agility, reach higher peak speeds, providing you with a much better experience.
Willing to have a negotiation about the final price
Establish your final pricing before even negotiating with the first customer. Don’t forget to calculate costs like advertising, maintenance, and advertising of your boat.
Declare your boat before selling
Make sure to declare your boat for sale before actually selling it. This will help protect you from potential legal issues or scams. It is important to research the local laws and regulations regarding how to properly register a boat that is being sold.
Have your boat’s paint job and other details done
Painting your boat can give it a fresh, new look that will make it more attractive to potential buyers. This usually gets more attention than a boat that isn’t painted, which makes it more likely to sell quickly.
Don’t discuss the best price until the client sees the boat
The best strategy is to get the potential customer on board and then talk about how much they’re willing to spend on it. This will give you a much better understanding of how much they’re willing to pay and how easily you can close the sale.
FAQs How to sell a boat
What is the safest boat sale payment method?
The safest form of payment when selling a boat is to accept cash. These steps make sure the purchase is safe by making sure the buyer’s check is good for payment on the day it is issued.
How can I find out how much my boat is worth?
Several websites appear when you put “boat values” or “Blue Book boat values” or “boat values KBB” into a search engine. Most, including Boat Wizard and ABOS Marine, are authentic. They can give you a decent overall sense of the cost of a boat similar to yours or a boat you might want to add to your fleet.
Is the resale value of yachts high?
Boats lose around 36% of their value after 10 years of ownership. Boats lose between 23% and 30% of their value after 5 years, and between 18% and 22% after just one year of ownership from a fresh current-year purchase.
Do boats retain their value?
Boats, similar to all machines powered by an engine, depreciate in value with time. In different markets, specific brands and models experience varying levels of depreciation.
How to sell a boat privately? Selling a boat doesn’t have to be a daunting task, and when done properly, it can maximize your profits. Armed with the knowledge gained in this blog post, you have the tools necessary to make selling your boat a successful endeavor. After all, understanding how to sell a boat by owner can help ensure that your buyer is satisfied while putting money back into your pocket. Visit justaddwaterbda.com to learn more about other useful topics!