10 Helpful Tips For Selling A Boat
Selling a boat isn’t as easy as it may seem. There’s a lot that goes into making sure you get the most of your water craft, whether you’re selling at a show or online.
By selling your boat solo, you’ll get complete control over the process and get to pocket 100% of the cash! But be sure you know what you’re getting yourself into.
Selling your boat can be a long process that includes many steps, so we wanted to make it as easy on you as possible.
Here are 10 of the most helpful tips for selling your boat.
1. Come up with a game plan
Your first step is to come up with a game plan. After all, you’re selling a vehicle, so you’ll need some strategies to get the most money.
Here are a few things to consider when you’re selling your boat:
Why are you selling?
Yes, obviously you want to be able to sell and get some money, but beyond that, why do you want to get rid of your boat? Are you looking to upgrade? Downgrade? You’ll likely have to answer this question at least once, so come up with an answer beforehand.
How should you sell?
It isn’t enough just to know that you want to sell your boat. You’ll have to know the specific marketplace you want to use. For instance, you’ll get some eyes on your vehicle at a boat show, but you’ll reach a much larger audience online. Think about the trade-offs for each venue.
What type of enthusiast would want your boat?
There are as many types of boats as there are boat owners. What type of watercraft you have can tell you what kind of person may want to purchase your boat. This will help when it comes time to advertising (see step 5).
What are some of the best features of your boat?
When selling a boat, you’ll want to play up the positive and ignore the negative. That isn’t to say you should be dishonest with your buyers, but you should definitely play up your boat’s best features.
2. Know your worth: figure out the value of your boat
Okay, so now that you’ve got the planning out of the way, you can begin the sales process.
The true step 1 is the most obvious: figure out how much your boat is worth. Just like with a car or any other type of vehicle, your resale value will vary depending on a few factors.
Things to consider when looking at your resale value include:
- Year
- Model
- Hours / Mileage
- Condition
Once you’ve factored these 4 elements into your sales plan, find a tool that works for you. There are tons of online calculators that can help you determine the value of your boat in a matter of minutes.
You can also consult a helpful resource like Kelley Blue Book. That’s right, Blue Book values are for more than just cars. Simply look up the year and model of your boat and you’ll know the general market value.
3. Selling a boat requires a lot of paperwork: make sure you know where everything is
You’ll be doing yourself (and your buyer) a huge favor if you go ahead and get all of the paperwork together.
Before your buyers even come and look at the boat, make sure that you’ve got everything you need.
You’ll need:
- Title
- Registration
- Warranty
- Owner’s manual
- Service record
And it isn’t enough to just have the paperwork lying around somewhere. Make sure it’s accessible at all times, and that you have copies of it if necessary.
Try and get everything together and put it in one central location like an envelope. Or to look truly professional, put everything in a portfolio or binder. That way you’ll impress your buyer with your organizational skills.
4. Know how to negotiate
For some, the negotiation process can be the toughest part. For others, it takes on the guise of a strategic game where two people try and outwit each other.
Regardless of where you stand, be sure that you brush up on your negotiation tactics. After all, someone somewhere WILL eventually want your boat, so you’ll need to be ready.
Odds are you won’t get your exact asking price for your boat. In fact, when selling a boat, it’s quite uncommon for someone to now offer a counter offer.
Make sure that you’re being fair and flexible. Yes, you want to get the most money for your boat, but sometimes you’ll need to give in and meet the buyer halfway.
Your best bet is to come up with a breakdown and offer specific reasons for why your boat is listed at that price.
5. Advertise
Advertising is one of the biggest factors in selling a boat. In the old days, you’d have to take out an expensive ad in a local newspaper.
But now, you can advertise for free, and to a much wider audience. It’s time to get tech-friendly!
Make sure that you’re posting online, even if you’re planning on taking your boat to some local events. Millions of people are online every day. See why it’d be advantageous?
By selling online, you can specifically target enthusiast websites and forums. Or, to make things even easier on yourself, you can hit up one of the dozens of boat-centric Facebook groups.
If you’re looking to sell quickly, you can even take out an ad on Facebook. Facebook Ads lets you target your demographic including gender and age, so you’ll have total control over who sees your ad.
If you’ve got some buddies who are also into boating, don’t ignore the power that word of mouth can have. Have them put out the word that you’re looking to sell your boat. Knowing the right people at the right time can make a huge difference.
6. Do some spring cleaning
Now that you’ve got your audience, you’ll have tons of people clamoring to see your beautiful boat.
You’ll have to make sure your boat is in top shape when it comes time to show it off.
Know that moldy spot on the side of your boat you’ve been neglecting for months? Now is when you’ll need to clean it off.
Do some basic cleaning and maintenance to give your boat the shine it deserves. Make sure you clean off the hull and underside. The more comprehensive the clean, the better.
Any buyer worth their sea salt will want to inspect every aspect of the boat. Make sure everything looks absolutely pristine.
7. Offer your buyer(s) a test ride
By now you’ve probably weeded out some of the less serious buyers, so it’s time to step things up.
Set aside some time to schedule a few test rides with any potential buyers. When it comes down to it, there’s no better way to show off how great your boat is than by taking it out on the water.
Make it an event like an open house. Have drinks and snacks and be ready to answer any questions your buyer(s) may have.
If both parties are comfortable, let your buyer drive the boat as you ride with them. There’s no better way to gain their confidence than by letting them see how it feels for themselves.
You’d want to drive a new car to make sure you liked how it felt, wouldn’t you? Selling a boat is no different.
8. Know your buyer
When it comes right down to it, selling a boat is a bit of a gamble. You’ll need to make sure whoever purchases your watercraft is accountable and honest.
Make sure you’ve done a good job of ensuring that your potential purchaser is true to their word. Don’t think you’re being rude by asking a few questions. It can save you a lot of hassle in the long run.
After all, boating can be a dangerous hobby. You’ll want to make sure they’ve got the proper education and paperwork.
9. Use a broker
You may not have the time or know-how for selling a boat. There’s nothing wrong with getting a bit of outside help.
There are hundreds of licensed boat brokers throughout the United States and Canada, and finding them is easy. If you’re struggling to get your boat sold, consider using a broker and doing consignment.
10. Throw in some incentives
If all else fails, try and sweeten the deal. Offering some incentives to a potential buyer can make all the difference.
Once again, think of selling a boat like selling a car. When you’re on the lot, the salesperson will tell you about all the great extra features included.
You can use the exact same tactics when selling a boat!
And it doesn’t need to be anything extravagant, either. Throw in some cleaning products or any accessories you may have around. It can be anything from seat covers to a cooler.
What’s important is that they perceive the incentives as real added benefit.
As you can see, there’s a lot that goes into selling a boat.
If you’ve got any questions, get in touch with us today. We offer the best trade-in values around with great boat financing options and would love to help you get in a new watercraft!