DH Yacht Sales - Top Five Tips for Selling Your Used Boat
As the old joke goes, the two best days in a boat owner’s life are the day they buy a boat and the day they sell it. But the truth is there are too many great days in-between to even count. Days with family. Days with friends. Days when it’s just you and the sky and the water. Those are the days that transform “a boat” to “your boat.”
But now the time has come for someone else to make memories on this boat. You’re ready to sell. But, before you do, there are a number of tasks you should perform to ensure a clean handoff and, more importantly, the best price for you. Preparing to sell your used boat can be a daunting task, but below are the top five steps to prepare your boat for a quick sale.
Prepare to Not Use Your Boat
If you’re really ready to sell then it is time to stop using the boat and prepare for someone else to have fun with your boat. Start by clearing out all the unnecessary items off the boat (all your personal gear and equipment you want to take with you). This means, clothes, fishing gear, tools, etc. however, what you leave behind are necessary equipment such as 6 lines, 2 fenders, anchor, first aid kit, fire extinguishers, life jackets and possibly a life raft. You want the boat to be ready during a successful sea trial and survey.
Complete a Pre-Purchase Survey
Spend the money so you know and by doing so you will save money in the end. If you conduct a survey, you will receive a punch list at the end that I have seen save people tens of thousands of dollars. You want to use an accredited surveyor, he or she will go through your entire boat and all of your systems to see what needs attention and what is working perfectly. Take that list and fix the items on it. When you receive a contract on your boat, they will perform their own survey and find less to pick apart of thus saving you money on the sale of your vessel. Spend a little and save a lot.
Attention to Detail
If there’s anything that turns off a potential boat buyer, it’s a boat that hasn’t been well cared-for, and nothing sends that message more than a dirty boat. I don’t just mean washing her off, I mean a full blown detail that gets behind the hatches, inside the bilge, under the motors and much more. A lot of boat owners love to take care of their own boats and that is great. When it comes time to sell it is time to hire a professional crew to take on this task. I would talk to your yacht broker and see if they have a monthly plan in place to ensure that your boat is sparkling clean for every showing. Again, don’t be scared of the cost, spending it now means you save it later.
Organize Your Records
Regular services, detailing, and inspections will go a long way when it comes to selling your vessel. And it sends a good message when you have everything up-to-date and have the paperwork to back it up in an organized fashion. It sends the message that you’ve put a priority on care and maintenance. Plus, by organizing all your paperwork in a binder now, you won’t have to scramble at closing to find the paperwork needed to get the deal done. You should send your broker the following items the minute you sign your listing agreement: copy of registration, documentation, insurance forms, warranty paperwork, copy of driver’s license, service records and lists of any and all upgrades done the vessel during your ownership.
Talk with an Expert
Selling your boat can be easy, maximizing your return on your investment can be daunting. The best way to make this an easy transaction is to interview a minimum of 3 brokers, listen to their sales strategies, process, procedures and marketing plans they have in place for their listings. Get as much information as possible. If you don’t know of any brokers, find the 3 closest marinas in your area with boats similar to yours and walk the docks and look for signs. The signs tell you who is busy and who has marketing etc.
And, if you decide you want a little more assistance in selling your boat, DH Yachts Sales is one of the leading yacht brokerage companies on the East Coast. Their experience, and relationship-building approach to working with clients, makes both the buying and selling of yachts a seamless process. Their lifetime on the water has made them experts in the marine industry and they make sure you’re comfortable with every decision so that in the end, you’ve made the right choice for your boating needs.
For additional information on DH Yacht Sales, please visit their website at DHYachtSales.com or call 843-847-1760.