Selling your boat in today’s tough market:

There can be few greater escapes or lifestyles to aspire to than boating. This is partly a function of what boating is; i.e. a leisure activity that a family can enjoy together. There also comes a time when the family grows or finances change and the boat expense is no longer viable. The boat must be sold. Selling a boat in today’s tough financial environment is not an easy task. Some people try to list boats for sale by owner. Active boat brokers advertise in many online boating sites to generate sales. Unfortunately boat classifieds advertising alone does not produce activity. There are a limited number of qualified boat buyers and there is limited used boat financing available and well over 250,000 used boats for sale on the internet alone. Used boats that are priced under the apparent boat market value are getting activity and some are selling at lower than expected pricing. It’s a good time to buy a boat, but a very harsh market to sell your boat. Boat pricing generates activity. If a seller doesn’t get activity it’s most likely due to the boat being undesirable or overpriced. Some boat brokers have a tendency to list sellers’ boats at unrealistic prices in fear of not getting the boat listing. These boats sit on the boat market as they depreciate even further. Boat values can not be established by boats that are currently on the market. The only true indication of a boats value is to have access to recent sold records of similar boats as a comparison. The reality is; that what a boat sells for is its true value.

First and foremost: Make sure it is clean, well maintained, and presentable. Some boat buyers are concerned about salvage boats. Price your boat competitively, as new boats are priced higher and your boats value is important. The internet makes it extremely easy for potential buyers to compare boat prices and features. You may be emotionally connected to your boat and you may think “my boat’s special” and thus be tempted to ask more than it’s really worth. If you fall into this trap, your boat will likely stay on the market for months, even years, until you lower your price.

A guide on how your boat should be presented:

• The boat should be easily accessible and easy to board to show a potential buyer.

• Please remember that first impressions are lasting. It is recommended that the boat be clean and organized at all times. All personal gear should be removed or stored out of sight.

• It would be a good suggestion to have the boat professionally cleaned and detailed. Clean boats sell faster.

• The boat should not smell of fuels, waste or mold; this is an immediate turnoff. Try to make sure that the boat is dried out at all times. Buy some hang up dehumidifier bags at Home Depot or West Marine.

• We also suggest that all compartments be emptied out and cleaned. Any loose or old boat parts and fishing tackle should be stored out of sight in separate containers.

• All glass, boat bulkheads, surfaces, and counter tops should be wiped clean and polished. Toilets and sinks should be wiped clean.

• All metal work i.e. bow rails, windshield frames, hardtop framework, towers, handrails and boat accessories should be free of any corrosion or rust and be polished.

• All fiberglass boat surfaces should be cleaned, compounded and waxed regularly. There should be no watermarks, marine growth or staining.

• Boat bilges and boat engine rooms should show that the boat has been cared for. There should be no oil, antifreeze, greases or rust present. The bilges should be kept clean on a regular basis. Any rusted boat engine parts should be wire brushed clean and touched up with matching OEM boat paint.

• The boat should be ready to function properly at all times.

• Today’s buyers look for boat surveys, you should have your boat surveyed and sea trialed prior to purchasing or selling your boat.

Blue Water Boat Brokers