If you want to earn cash for your boat quickly, certain decision can hinder your progress. Here are mistakes to avoid when selling your boat fast.
In 2016 over 141.6 million Americans went boating, and this number has grown through the years. However, as enjoyable as a boat can be, at some point, selling it may be necessary.
The world of boating is huge, which means selling your boat shouldn’t be too challenging. If you are like most people, you want to get as much money as possible for your watercraft. This is when things can get tricky.
When it comes to selling your boat, there are a few mistakes you may make. Getting to know what the most common mistakes are is the best way to avoid them. Keep reading to learn what they are.
- Selling at the Wrong Time
When you sell your boat matters. If this sounds weird, just wait. Knowing the right season to sell your boat will help to boost your bottom line.
Most boat buyers will be ready to open their wallets for this right before the boating season arrives. It is best to avoid trying to sell during very cold seasons unless you are willing to take a lower price. You can get the most for your boat at the start of the season.
This is a smart time to sell because most people want to enjoy the nice water, and having a boat is key.
Keep in mind, if selling isn’t preferred, you can also pawn boat for loan, and when you repay the loan, you can get your boat back. This is a preferred option for many, especially if they need money fast.
- Not Knowing What the Market Will Pay
You need to find out what the highest price someone is willing to pay for your boat. This can seem complicated, but there are a few tips that will help you out.
The first step is to research the worth of the boat and get advice and appraisals from a professional.
However, if you don’t want to pay a professional, check with the marine blue book value. Just change the price predicated on the accessories you have added along with any depreciation for your boat.
If you add new accessories or resurfacing, like carpeting, be sure to compute that along with all the boating accessories you will be selling with the boat.
- Not Seeing What Others Are Selling Similar Boats For
Take some time to see what other similar boats are selling for. There are several people out there that are also selling boats, and some boat buyers may opt for purchasing a new boat instead of the one you are trying to sell.
This means you must set a competitive price based on the features that a potential buyer really wants. For example, if you find that many like boats – new and old models – don’t have some features, such as fish finders, GPS, or radio, you may want to add them to your boat to seem more appealing than your competition.
- Failing to Use Smart Advertising Techniques
Just creating a small ad and placing it in the corner of a newspaper or creating a bland description and posting it on Craigslist probably won’t be enough. Most boaters know how to search for the boat they really want.
This means that if you want to ensure your boat is found by someone who is interested, you should advertise your boat by displaying the profile along with photos of the interior and exterior. Make sure you create pictures that are good quality and that command attention. Doing this will help you sell faster.
- Not Hiring a Boat Broker
There’s a lot of work that goes into selling a boat. You must show it to any interested party, answer questions, be present for inspections, and more. If you don’t have the time, ability, or desire to do this on your own, consider hiring a broker.
A broker will handle all the “dirty work” for you. While you have to pay them between 10% and15% of the commissions you earn, but they will get the job done quickly and without all the stress and hassle if you did it on your own.
However, before hiring a broker, you need to know the methods they will use to advertise your boat. The best option is posting it online because you will be able to attract more buyers quickly. However, brokers will know other effective selling methods to use, as well.
- Expecting a Fast Turnaround
When you are trying to sell a boat, make sure to be patient. Sometimes, it can take between three and six months to sell your boat.
If you decide to advertise your boat yourself, be sure to start early and put it on sites where listings can be kept for several months.
- Not Cleaning Your Boat before Listing it for Sale
Would you rather buy a dirty or clean boat? Along with adding new features, be sure you clean the inside and outside of your boat thoroughly.
Clean off all rust, mildew, and mold stains. Everything should be cleaned well and put back in the proper place. Make sure you handle this cleaning before adding any new features and then advertising the watercraft for sale.
Make Selling Your Boat Easy with These Tips
When it comes to selling your boat, there is an array of factors to consider. Be sure to keep the information here in mind to avoid making some of the most common mistakes.
If you are looking for more information on boating or other hobbies and activities, be sure to check out some of our other blogs. We post regularly to help keep you informed.