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If you’re thinking of selling a boat, how do you ensure you can sell the boat quickly and get the best price? It’s important to prepare your boat thoroughly so that it presents the best possible picture to potential buyers. Better condition should mean better price, but it’s essential to know the potential value of your boat before setting a price. And advertising your boat in the right medium means you can reach more potential buyers.
Before you set a price, you need to know what your boat is worth to potential buyers and how it compares with other boats for sale. You can carry out price research on the Internet by looking at advertisements for boats of similar make, age and condition. If you ask a broker to sell the boat for you, they will use their knowledge of the market to advise you on a suitable price. You can also make use of the “Value my boat” service available from Rightboat.com.
When setting your price, don’t forget to specify what you are including in the price. If you are including extras such as navigational aids or other equipment, the “total package” may represent a better deal to a buyer when compared with similar boats. Setting out the contents of the package can also help to avoid potential misunderstandings.
If you want to reach the largest number of potential buyers at reasonable cost, it’s important to advertise in the right medium. By placing an advertisement on a website like Rightboat.com you can reach an audience of thousands. Your advertisement should include full details of the boat and any extras included in the package, together with photographs. You should also include details of the boat’s service history, location and arrangements for viewing, plus your own contact details. Websites like Rightboat.com have developed databases that can match potential buyers with sellers and alert both parties to speed up the process of selling.
If you do not wish to sell your boat privately, you can use the services of a broker who will sell the boat on your behalf. As well as setting a realistic market price, brokers use their contacts to identify and reach potential buyers quickly. They can also take care of arranging viewings and the other time-consuming tasks involved in selling a boat. The broker’s charges will reduce the final figure you receive for the boat, but this may be outweighed by the higher price they can negotiate for you.
Unless your boat is unique or highly sought-after, you are likely to obtain a better price if you spend some time preparing it for sale. At a minimum, you should give it a thorough clean inside and out. Check for damaged paint and make any necessary repairs. Using the services of a professional valet can prove a good investment here. You should also check that all equipment and controls work properly. Again, a check by a service engineer may highlight potential problems that you can put right before the sale. If your boat has an engine, make sure there is enough fuel onboard if the buyer asks for a test.
In our guide to “Buying a boat” we recommend that buyers use the following checklist, so you should use the same process to prepare your boat:
Buyers will want to make a thorough inspection of the boat, so you must be prepared to accommodate requests at reasonable times. Any buyer who makes a detailed inspection or brings a surveyor to carry out the inspection should be regarded as a serious prospect. You should have service history and other documentation available, and also be prepared to offer a test if the buyer is seriously interested.
Once a buyer makes an offer, ask them for a form of identification and contact details. This is essential to avoid potential loss through fraud. If the buyer is paying by cheque you should not hand the boat or any documentation over until the cheque has cleared and the funds are in your bank.
