Are you interested in selling your boat? First-time sellers may think they can arbitrarily set a price, list their vessel, and watch the offers pour in, but this approach is likely to meet with failure. How to sell a boat is much like any other boating activity: if you are willing to invest some time, effort, and money in the endeavor, you will get a much more positive result. It is disheartening to have a vessel that languishes unsold for a long period of time, but you can avoid frustrating delays and ensure your boat sells in the shortest possible turn-around time by following these few simple steps:
Set a Fair Asking Price
There are several factors to take into account when you are deciding on the asking price for your boat. First, search websites and listings to find comparable models, and note the average price of the listings. Honestly assess the condition of your boat, and check for boats that match yours in condition, age, and amenities. Pricing your boat in the median range will help it to sell in a reasonable amount of time. If you have a boat loan, your final price will need to cover the current payoff amount, including any charges.
Prep Your Boat
Prospective boat and yacht buyers have a large selection of vessels from which to choose, so it essential that your boat shows well. Buyers are attracted to well-maintained boats, so put in the time and effort to spruce up your vessel and make sure all equipment is in excellent working order. If you have a larger boat, taking it to a qualified yacht service department and having it professionally serviced is a wise investment.
Offer Your Boat for Sale
When it comes time to sell a boat, and you have a small boat, you may be able to sell it yourself by listing it in local papers, boating magazines, and on DIY boat sale sites. To sell a larger vessel, fishing boat, or yacht, engage a certified yacht broker to list your boat for sale. Your broker can help you set a competitive price for your vessel and bring it to the attention of qualified buyers eager to make a purchase.
When you enter negotiations with a prospective buyer, be upfront about any problem areas or defects. Buyers will generally pay for a marine survey, but you will probably be responsible for the cost of a sea trial. Be prepared to take steps to resolve any issues that may arise from the marine survey. It is important to set a specific date for closing and insist it is followed. Once the sale goes through, verify that any loans and liens are satisfied and that all fees and taxes have been addressed and paid. File the appropriate paperwork, cancel your boat insurance, and you are finished!
Now that you know how to sell your boat, it is time to take action! The knowledgeable yacht brokers at Atlantic Yacht and Ship have a great deal of experience listing yachts for sale, and they have the contacts to ensure your vessel sells as quickly as possible. Whether you are interested in selling a boat or buying a yacht, our experienced yacht brokers will help you with every step of the transaction. Contact Atlantic Yacht & Ship at 954.921.1500 click here, or chat with us by clicking the link in the lower right corner of the screen!