10
Tips on "How to Sell your Boat"
- Understand Competition. You are not
only competing against other boaters selling their boat,
you are competing against the boater who may opt to buy
a new boat instead. Knowing this you should make sure
that your boat is competitively priced against similar
boats for sale. Some new boats tend to have fewer options
or features in order to keep them price competitive. By
understanding this you may be able to offer a prospective
buyer a few features that the newer models don't. You
may also want to include a few add-on items that can sway
a buyer. These include fish finders, downriggers, radar,
radio, GPS and so forth. Be sure your ad includes all
these things. If your boat has special features that are
no longer offered on newer models, mention them.
- Advertise Properly. Most boaters try
to sell their boat on the cheap. This includes free internet
ads or a sign on your boat saying it is for sale. These
rarely if ever work. Selling a boat is a numbers game.
The sooner you understand that the smarter you will be.
More and more boaters are using the internet to search
for boats. And why not, with a simple mouse click they
can search hundreds of boats that match their profile,
many just a few miles away. Also most boaters look for
complete photo listings. It's said a picture is worth
a thousand words..in boating it is the difference between
selling a boat and not. In fact, in a recent Boatsville
study, brokers who placed ads with just word listings
got on average 1-3 boaters who responded per week. Similar
model boats with pictures got over 20 responses on average
per week. On average, boaters need to see 50 boat listings
before they make a decision to contact you via e-mail
or phone. So unless you are willing to wait 17 weeks to
one year you should seriously consider a photo listing.
If you are serious about getting good leads and more of
them, spend the money to place an ad with photos. A Note
about Photos: Your pictures should be very clean on a
sunny day. Make sure your photos are clear.
- Make Communication Easy. It is often
very funny to call on boat ads. In most cases the phone
number is the home phone of the seller. Kids answer the
phone and don't take messages. Most spouses can't answer
the caller's questions, and in many cases there is no
one home to take the call and no answering machine. You
should set up an answering machine or request that your
phone company set up a voice mail box (they run about
$5 a month). A small price to pay not to lose an important
prospect. Many boat prospects use e-mail for this reason.
If you don't have e-mail GET IT!. Warning you must check
your e-mail account daily as boaters are an anxious bunch
and don't appreciate waiting for an e-mail response too
long.
- Don't Overprice. Many boaters price
their boat for sale based on what they owe on the boat.
Unfortunately, this is not really what the boat is worth
in most cases. Before you list your boat anywhere, research
what the blue book value of your boat really is. If you
aren't willing to part with it somewhere in between the
low retail and average retail price then either be prepared
to get little response or be disappointed when a similar
naive buyer makes an offer only to find that his bank
won't carry the debt either. You can check the value of
your boat with the NADA guide here.
- Consider a Broker. If you aren't prepared
to be available nights and weekends to show your boat
and have muddy kids and overly judgmental adults going
through your boat, then a broker may do you some good.
Most brokers charge between 10% and 15% of the sale price
of the boat. If you want $40,000 for your boat you will
pay the broker around $4,000 to sell it. This price can
be negotiated sometimes, especially if your boat is in
demand. Ask your broker how they will sell the boat. Will
they place internet ads and print ads or just show it
on their lot. Make sure they place an ad for your boat
on the Internet. You would be surprised how many boaters
are willing to drive 500 miles or more to see a boat listed
on the Internet that interest them. If you're not listed
on the Internet they may never see your boat. If you can
afford it or just to busy to show your boat, brokers are
a good way to go.
- Clean boats sell. Have you ever been
on a nice boat that is dirty? There's no such thing. If
the boat is dirty it isn't nice. Very few people buy boats
with last years May Flies glued to the canvas. Clean your
boat regularly during showing or don't list it in the
first place.
- Get a Survey. This could save you a
lot of heartache and head aches later. A survey determines
if the boat is in good working condition. It allows you
to not only see what needs to be fixed, but if your boat
will sell in the first place. I once saw a boat (I shall
not name the brand to protect the guilty) that was so
rotted inside that it was un-sellable. Even though this
didn't comfort the seller, they didn't waste their time
with selling the boat. Most banks will require a survey
to finance used boats, so why not do one before selling
and you can use that to hold strong on your price. If
the survey comes in good, then use it to help sell the
boat. If it comes in bad then at least you will know your
options. Surveys typically run $10 per linear foot. So
a 30 ft boat will run you about $300 to get it surveyed.
- It does take time. Every boater believes
that their boat will sell in a week. This very rarely
happens. Most boats sell in between 3-6 months after listing.
Be patient. It is a numbers game. You must find that one
person who wants to find your boat. Listing your boat
where it is only up for a couple of weeks, will only disappoint
you and lower your chances of selling the boat. Remember,
if you want to sell your boat by fall start now. You can
use your boat, just be available to show it. In fact,
boats in the water look better and allow the purchaser
to fall in love with the performance and ride.
- Be willing to negotiate. Everyone loves
a deal. Be somewhat flexible in your price. For example,
if you sell your boat at the end of the season you may
agree to pay for winter storage. Think about it, you would
have to pay that anyway, plus the boat payment. Unless
you have several boaters bidding for the same boat, dealing
may be necessary to keep them from wandering off for good.
In any case you should try to work with the new potential
owner any way necessary to make sure the deal goes through.
- Know your best offer. Know the lowest
price you can go on the boat. If you don't you may find
that you sold a boat for more than you can afford. Now
your bank wants their money and your left taking a loan
out just to get even. Nothing worst than selling a boat
and getting a headache in exchange.
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