Jul 19, 2016
How To Sell My Boat Quickly
Whether you need quick cash, want to move up to a bigger boat, or are just ready to move on…there are a few options to consider if you want to sell your boat quickly. Boats can often take months to sell and the costs can quickly accumulate and put pressure on your bank account. Fortunately, the following techniques will speed up the process and will get you onto your next boat much faster. Be sure to take a quick glance at our post on “Preparing to Sell Your Boat” for basic techniques on pre-sale preparation for even more info.
1. Wholesale Your Boat
Wholesaling is by far the quickest way to get rid of your boat. Wholesalers will offer you a lower price than retail, however, they are looking to resell your boat and must be able to turn a profit. This is the perfect route for those looking for a quick cash deal on their boat. You can also visit WeBuyBoats.com for a quick cash offer!
- Quick Sale
- Cash Payment
- Ability to take boat quickly off your hands
Also, if you are looking to move onto a different boat, wholesalers often can help find that next boat at a great price. Here at Off the Hook Yacht Sales, we constantly work with clients who are looking to move onto a different boat and we often buy their current vessel and help find their next one.
2. Pricing Your Boat Correctly
Start by searching the basics…Yachtworld, Boats.com, NADA, etc…and write down/print out boats similar to your own and get a feel for a listing number. NADA numbers are used by banks for loans and can be inaccurate, but it is still a number to keep in mind.
Check out what your boat is selling for on the private market by searching websites such as Ebay and Craigslist. These numbers can also be scattered, but by comparing and compiling broker listings and private market numbers, you should be able to form a starting price point. It also helps to have your absolute bottom number decided before you list your boat.
While many variables go into pricing a boat…the following three questions are big determinants and should be included in the listing and in your pricing strategy.
- Does the boat have bottom paint?
- Does it come with a trailer?
- How many hours are on the engine(s)?
It is also crucial to know any major mechanical/electrical problems in the boat’s current state or past. Most buyers will conduct a pre-purchase survey anyway, so disclosing any service records or major problems will smooth out the process. One option to speed up the selling process is to have an engine and boat survey performed beforehand and offer the information to serious buyers. Check out our post on Marine Surveys to find a surveyor in your area and learn more.
3. List With a Broker
Boat broker’s have connections throughout the industry and will aggressively market your boat across the Internet. Commission is generally 10%, but you are paying a professional to market, negotiate, handle paperwork, monitor trends, and make selling your boat their priority. Brokers can often get you a better price for you boat, while keeping your bottom line in mind.
Look for brokers who have:
- Professional listings
- Experience in the boating industry
- Can take trades (if you are looking to move onto a different boat)
As mentioned before, we here at Off The Hook Yacht Sales have the ability to take trades, however many brokerages do not. Brokers also offer other benefits which can be found on our Top 7 Reasons to Use a Boat Broker post.
4. Make Your Boat Visible Everywhere
Craigslist and Ebay are the basic tools for private listings, but there are a few other ways to gain exposure. Try creating “for sale” signs and placing your boat in a location where it will be seen by boat-minded commuters. Marina lots, near a highway, and even driving around on a busy boating weekend will attract attention for your vessel.
A few other ideas for boat exposure include:
- Posting on social networks
- Word-of-mouth advertising
- Craigslist ads in nearby cities
So How Should I Sell My Boat?
Each of the ideas listed above will help you sell your boat faster. Wholesaling is by far the fastest, brokering will put a professional on your team, correct pricing helps determine your bottom number, and maximum exposure helps bring the buyers to you.
If you are in the “Must Sell My Boat TODAY” category… give us a call here at Off The Hook Yacht Sales and we can place a wholesale number on your boat and can offer cash. We also offer to broker, take trades, and will aggressively market your boat.
If you have any questions or would like to receive a wholesale quote on your boat, give us a call or fill out our contact form. Have any of your own tips for quickly selling a boat? Be sure to let us know!