Selling Your Boat: Strategies For A Quick Sale

Selling a boat can be a long and daunting task, but there are some tricks to follow to sell your boat fast. Firstly, decide whether you will sell the boat yourself or work with a broker or dealer. Next, make sure the boat looks and runs as well as possible. Research the listing price of similar boats, considering make, model, size, and age, and decide on an asking price. Advertise your boat for sale on websites, in local papers, or boating magazines, or simply hang a For Sale sign on the boat. When a prospective buyer contacts you, prepare to show them the boat and take them for a sea trial. Be prepared with all the legal paperwork to complete the transaction, which will vary by state.

Clean and fix

To sell your boat, you'll need to put in some work to make it appealing to potential buyers. Here are some tips to get your boat in top shape and make it stand out:

Interior:

• Start by removing all personal belongings from the boat. This helps potential buyers envision themselves on the boat.
• Vacuum the interior to remove any loose dirt and debris.
• Scrub the carpet with a stiff-bristle brush, soap, and water. You can also use a wet vac for larger boats.
• Speed-dry the carpet by running air conditioning and/or fans.
• Clean the vinyl surfaces gently with soapy water and a soft cloth. For stubborn stains, use a marine vinyl cleaner.
• For interior cushions, remove the covers and wash them in cold water. Sprinkle baking soda on the foam, let it sit, and then spray with a mixture of vinegar and water. Let it air dry completely before putting the covers back on.
• Disinfect the toilets and, once a month, run a few cups of white vinegar through the lines to prevent scale and calcium buildup.

Exterior:

• Spray the boat with clean water to remove loose debris and grime, starting from the top and working your way down. A pressure washer can be useful here.
• Use a specialised boat cleaner or soap to scrub the exterior and agitate the grime. Rinse off the soap as you go to avoid streaking.
• Buff the exterior by hand or with a rotary buffer to remove oxidation and prepare the surface for waxing.
• Apply wax to the exterior to add shine and protect the surface. Use a specialised boat wax and work in small areas, buffing as you go.
• Clean the canvas by hosing it down, scrubbing with a soft-bristle brush and mild soap, and rinsing. You can also machine-wash small canvas items with warm water, soap, and baking soda.
• Clean clear canvas (Isinglass) with soapy water and a non-abrasive sponge or microfiber cloth. Wipe with a squeegee to prevent water spots.
• For the teak, regular scrub-downs with soapy water are sufficient. For deeper cleaning, use an acid-based teak cleaner, removing the teak from the boat first to avoid damage to surrounding areas.

Engine:

• Clean the engine regularly, removing any dirt and grime buildup.
• For outboard engines, apply a coat of wax to the cowl and exterior, and wash with soap and water after each use.
• For inboard engines, consult a professional for a thorough cleaning to avoid damaging electrical components.

A well-maintained and clean boat will be more appealing to buyers and help you sell it faster. Now, let's move on to the next step of taking high-quality photos and videos of your sparkling boat!

Research and price

Researching and pricing your boat is a critical step in the selling process. Here are some tips to help you determine the right price:

Use Online Resources:

• Check online boat valuation tools such as Boat Trader's Price Checker Tool, which provides a range of listed prices for similar boats, including average, lowest, and highest values.
• Refer to websites like NADAGuides.com or NADA Guides, which provide information on boat values based on make, model, year, and additional features.
• Look at internet boat sales listings on websites like Boat Trader, boats.com, and YachtWorld to get an idea of the current market and what buyers are willing to pay.

Consider Local Listings:

While national listings offer a broader perspective, checking local "boats for sale" listings in newspapers, magazines, or localized websites like Craigslist can give you a more realistic sense of pricing in your specific area. Location plays a significant role in boat pricing, with boats in areas of higher population density often commanding higher prices.

Factor in the Boat's Condition:

The mechanical and cosmetic condition of your boat will significantly impact its value. A well-maintained boat with a clean interior and exterior, functional engine, and modern electronics will fetch a higher price. Consider investing in repairs and maintenance to increase the value of your boat before listing it.

Evaluate Electronics and Accessories:

The value of your boat can also be affected by the quality and modernity of its electronics. While most boat accessories don't add much value, expensive marine electronics can enhance the boat's worth, usually by up to half of their original cost.

Assess Substantial Upgrades:

If you've made substantial upgrades to your boat, such as repowering it with a new outboard engine, you may be able to recoup a substantial portion of your investment. These upgrades contribute to the overall condition of the boat and can justify a higher asking price.

Be Strategic with Pricing:

When deciding on a price, it's essential to strike a balance. Asking too much may deter potential buyers, while setting the price too low might raise suspicions. Start by determining a reasonable price based on your research, and be prepared to negotiate. You can also use the rock-bottom sales price strategy, where you set a minimum sales price in your mind before listing the boat, ensuring you don't settle for less than what you believe the boat is worth.

Compare with Dealer Trade-In Options:

Before deciding to sell privately, explore the option of trading in your boat at a dealership for a new one. This can simplify the process and save you from the complexities of private sales.

Advertise

Advertising your boat is a crucial step in the selling process. Here are some tips to help you effectively advertise your boat and attract potential buyers:

• Utilize online platforms: In today's digital age, advertising your boat online is essential. Consider listing your boat on websites that offer classifieds, such as Boat Trader, boats.com, YachtWorld, Craigslist, Facebook Marketplace, and OfferUp. These platforms provide a wide reach and allow you to include detailed descriptions and high-quality photos and videos of your boat.
• Compare different websites: When choosing a website to advertise your boat, compare the features and benefits of each platform. Some sites may offer free listings, while others charge a fee. Consider the target audience and specialization of each website. For example, YachtWorld is suitable for larger yachts, while boats.com and Boat Trader cater to a mass audience of boaters with various interests.
• Local advertising: Don't underestimate the power of local advertising. Consider advertising in local newspapers, newsletters, or boating magazines. You can also try hanging a "For Sale" sign on your boat and placing it in a high-visibility area near a busy road or marina. This simple tactic can generate interest from potential buyers in your area.
• Target the right audience: Identify the type of boat buyer who would be interested in your boat. For example, if you're selling a high-performance pontoon boat, target areas with lakes and protected waterways for leisurely cruising. If you're selling an offshore fishing boat, focus on ocean-side fishing communities. Understanding your target audience will help you tailor your advertising efforts effectively.
• Enhance your listing: To make your listing stand out, provide detailed and accurate information about your boat. Include specifications such as dimensions, upgrades, equipment, and brand names. Highlight any unique features or customizations. The more comprehensive your listing is, the more likely it will attract serious buyers.
• Utilize video content: Videos can significantly enhance your listing and speed up the selling process. Shoot a video of your boat on the water, providing a walk-through of its features and a cold start. Videos allow potential buyers to get a better sense of the boat and increase their interest.

Show and seal

Once you've done all the prep work, set your price, and advertised your boat, it's time to show your boat to potential buyers. This could be in the form of virtual tours via video chats or in-person sea trials. Be prepared to answer questions about the model, condition, and key features, as well as any add-ons you've installed.

When showing the boat, remember that honesty is the best policy. If you and the buyer reach an agreement, be prepared with all the necessary legal paperwork to complete the transaction. This will vary depending on your location, but at the very least, it will involve signing over the title. As the seller, it's your responsibility to make the process as smooth and speedy as possible.

If you're accepting cash, be sure to check for counterfeit notes. You can do this by folding one side of the bill and then unfolding it to an angle of roughly 130˚. Hover a magnet over the '1' and if the bill moves, it's real. Also, check the serial number—if it's different from the treasury seal or matches that of another note, it's a fake.

Ask for a third party to check and count the cash with you before releasing the boat. Checking large sums of money is not recommended as it is time-consuming and requires a lot of attention.

Once the sale is complete, your beloved boat is off to its new home, and you can turn your full attention to your brand-new boat!

Paperwork

The first is a boat bill of sale, which is a contract used to transfer ownership of the vessel from the seller to the buyer. This document must be signed by both parties and may also require a witness signature, boat financing lender approval/signature, and, in some cases, a notary to notarize. It's important to note that the bill of sale should typically only be filled out and signed once the seller has delivered the boat to the buyer and received payment.

Another essential document is the boat title, which proves ownership of the vessel. When selling a boat, the title must be signed over to the new owner, who then takes it to the department of motor vehicles office to apply for a new title. If you're selling a trailerable boat with a trailer, you'll also need to transfer ownership of the trailer to avoid any legal issues.

In addition to the bill of sale and title, you may also need other documents, such as boat registration, proof of sale, and release of liability. These documents can typically be found by searching for templates online or on your state's DMV website.

It's important to have all the necessary paperwork in order before finalizing the sale. Failing to provide a complete and correct documents portfolio can delay the sale process. As the seller, it's your responsibility to ensure that every relevant document is present and correct before handing them over to the buyer.

If you're selling a particularly large, valuable, or complex boat, it may be a good idea to consult a marine lawyer or specialist agency to ensure that all the necessary paperwork is in order.

Frequently asked questions