How to Sell a Boat

Sell yourself or get help

Selling the boat yourself will net you the most of money. However in some instances you may want to enlist the services of a yacht broker. For example, if it"s a large or more expensive boat ($100k+), or if you're simply not comfortable showing your boat to strangers. Selling yourself is easy when you understand what is involved and are prepared.

Pricing your boat

Compile a list or scrapbook from local classifieds and the internet of boats that are similar to yours. Compare prices, condition, engines, etc. to help you price your boat. Pricing the boat correctly for your market is important. Some boats command a premium in certain markets while the same boat will sell at a discount in others. Getting the price right for your market will mean a quick sale and no worries about money "left on the table."

The best place to find and compare boats and prices from many different areas is the Internet; there are a number of sites including www.iboats.com/boats that you can use.

Another source for pricing information is the marine “Blue Book” that your local bank, or boat dealer may be willing to share with you. You should also check the iboats.com boat prices page http://iboats.com/boatprices/hat will help you price your boat by entering your zip, and boat information.

Advertising your boat

If you decide to sell on your own you need to plan your course of advertising, local newspaper classifieds, magazines, or Internet are all great ways to go. Internet classifieds however, reach the largest audience and re the most cost effective way to draw in buyers from all over.

Prepare for the Sale

Invest some time in making sure your boat is at its best before selling. Cleaning it from top to bottom, maintenance, and repairs being done before hand will earn you a higher selling price.

If you are selling the boat yourself make sure you have a bill of sale that includes Buyer and sellers names, addresses, phone numbers and drivers license numbers. Include boat info, type and size of boat and registration numbers.

For any kind of payments. Be it a down payment, installments, or full price; make sure you write up a receipt, one copy for the buyer and one for yourself.

Payments should be made by cashiers checks or certified checks; you may also consider using an escrow or alternate payment service.

After the sale you also need to send a form (included with the pink slip) to the boat registration agency, include your boat information, the buyer’s information, date of the sale and price.

Be cautious of scams

If a buyer offers a certified check or money order for more than the asking price was or the agreed price and then asks for the difference to be given back in some way this is a scam. The certified check or money order will be counterfeit 100% of the time.

Use extra caution with foreign transactions. Make sure you do some research on your buyer especially if you are shipping your boat overseas, in this case not only would you loose money but probably your boat. If you feel that you are working with someone that is trying to pull a scam please contact the proper authorities.