Ask The Experts | Selling Made Easy!

[iboats.com]

With the end of boating season near and winter looming ahead, it is time to start thinking about your off season preparations. Will you winterize and store your boat, bring it to warmer weather, or just sell it and use your storage savings on a better boat next season? If you chose the latter, Boat History Report has some tips to help you sell your boat quickly for the highest price.
First things first- make sure everything is working properly. Take her out for a "trial sea-trial" to ensure that she runs smoothly when a potential buyer comes out. Does the bilge work? Lights? Did the engine start on the first try? How's the radio equipment? Head? Are the batteries new or corroding? How's the live well? Fresh water rinse? Knowing what does and doesn't work allows you to be prepared for questions and can help you avoid a potentially embarrassing situation, or even worse- losing the sale! Capt. Joe Curry, AMS, recommends getting all of your service tickets in order by placing them in a binder. "That way a buyer can see when the last time the oil and raw water pump impellers were changed."
Once everything is in working order, remove EVERYTHING that doesn't need to be there. People want to envision their own future memories on the boat and being harassed by your "clutter" will interfere with their lavish daydreaming. Make sure the lockers are empty and clean and anything left on the boat is organized. Greg Group, a marine surveyor for over 30 years shared this general rule of thumb- "if an item is screwed down or constitutes required safety gear, THEN IT STAYS WITH THE BOAT!"
Next, ensure the boat is visually appealing. "Detailing a boat is the single most important investment of time, energy and money a seller can make because a clean and shiny boat sells faster and for a lot more money" says accredited and certified marine surveyor Rob Scanlan. Take time to wax and polish the hull and deck, shine the stainless steel, oil the teak, wash and bleach the canvas and cushions, clean out the bilge and holding tank, wipe down the engine, remove any unpleasant smells. Make her SHINE! Be sure to take lots of high-quality! A visually appealing boat will attract more "serious" buyers, thus creating the potential for a higher, quicker sale. Remember- a CLEAN boat is a happy boat!

Collect newspaper clippings and online advertisements for similar boats to show potential buyers. Be brutally honest with yourself on the condition of the boat. The last thing you want is a lawsuit for misrepresentation. Use these ads in addition to sources like NADAGuides to price your boat appropriately. You may also want to contact local brokers to find out if they have similar boats for sale and how much they are going for. For larger boats, consider having a professional marine survey performed on the boat to give you the upper hand in negotiations. An additional option is a Boat History Report (BHR). A BHR is similar to a Carfax in that it provides history on potentially negative events in the boats life. By providing this upfront to your potential customers, you are giving them peace of mind that your boat was not involved in an accident, salvaged, in a storm victim or has had costly repairs due to neglect.
Once you have fixed, de-cluttered, cleaned and priced your boat, it is time to decide how to sell it. Will you sell it yourself, trade it or go through a broker? There are pros and cons to each but in general, if your boat is small, your best bet is to sell it yourself. Use online sources such as iboats.com and eBay to post your boat. Trailer your boat to a high traffic area with clearly visibly signage. Talk to your friends and fellow boaters at local marinas. Just remember, you are responsible for all of the advertising, upkeep, showing, sea trials, and paperwork. If your boat is in good condition and medium in size, a trade-in might be a great option as it saves you some taxes and eliminates the hassle of personal advertising. However, you usually generate the least amount of money for your actual boat this way. Lastly, going through a broker who can handle everything for you is generally the easiest, as they do the advertising, negotiating, viewing and paperwork. However, you need to keep in mind that they also keep a commission from the sale.

No matter how you choose to sell your boat, there are many resources out there to help you through the process. If your goal is to generate the highest possible income in the shortest amount of time, follow these steps and you'll be well on your way to a hassle free off-season!
Bill Gius is a three-plus decade marine industry veteran with extensive, hands-on accessory, boat and engine experience. Bill has been working with iboats.com for six years to help manufacturers and dealers use iboats' online marketing, advertising and lead generation services. Bill can be reached at 800-869-1686 x199 or bill@iboats.com.