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Your starting price can make or break the sale of your boat. When deciding how to price a boat many things come into play, including its mechanical condition, how it looks, and how well it's equipped. Research The Market Price To set a realistic price, you must educate yourself about the market for your particular boat. Start by checking the boats for sale on boats. Unless it is one-off, custom, or very specialized, there will be other boats like yours for sale.
How do you define "like yours? Make sure you are comparing apples to apples. Things like salt water or freshwater use or extra equipment will affect your value. For a more unusual boat, look at the asking prices of boats the same type, size, and age. These five factors should be taken into consideration: Mechanical Condition - If your boat isn't in good working order, obviously, the price should be lower than what NADA says. But the cost of repair is simply not enough to subtract.
First off, no one wants to buy a boat that isn't running right. You also have to consider the time and effort needed to schedule repairs, and possibly to tow or cruise the boat to the shop. So before trying to sell a boat, you really should have all necessary repairs done to it. If not, as you price your boat you should plan on subtracting at least double the cost of those repairs from the bottom line.
Buying one is a purely emotional decision, and as a result, looks count for as much as anything else. As a result, you have to adjust your price considerably. A boat that looks very rough will often sell for one third to one half less than one that looks pristine. Fortunately, this is a fairly easy issue to resolve.
Smart sellers will replace things like ripped canvass and split seat cushions, which are easy fixes. Faded or oxidized gel coat should also be addressed�who wants to buy a boat that doesn't shine? No one. If the oxidation is superficial you can easily bring back that shine watch our How to Restore Slightly Faded Gel Coat video , and if the oxidation runs deep a small investment with a professional cleaning crew can up the value of your boat significantly.
People expect to pay a bit more for a boat in like-new condition, and in some cases, asking 10 to 20 percent over book value is not out of line. Location - Where you boat is physically located can have a surprisingly significant effect on how much it will eventually sell for.
Boats being sold in sparsely populated areas are at a significant disadvantage, since buyers will probably have to travel a substantial distance to even consider buying them. Electronics - Unless a boat and its electronics are very new, this usually has a minor-league impact. There are two problems with this: first, different people like different electronics and often have strong opinions on the matter.
Secondly, electronics become obsolete very, very quickly. Many units built just three or four years ago are already out of date, and as the buyer, I probably would rather get a new unit of my own choosing as opposed to sticking with a unit you chose a few years ago. Note: many sellers either negotiate the price of electronics separate from the boat itself, or offer to reduce the cost of the boat an according amount and remove the electronics before the sale. Significant accessories like a windlass, kicker motors, air-conditioning, and the like Boat Sailing From Trinidad To Tobago Food all add real value to a boat.
Not as much as their initial purchase price, of course unless they were installed within the past few months and have little to no use on them. But they should be considered at half to two-thirds of their price Some accessories, like the Power Pole seen on this boat, can add significant to a boat that's for sale.
Blue Book Boat Values While auto pricing is closely tied to "blue book" value, boat values are not nearly so cut and dried. A pair of center consoles that came out of the same mold on the same day might have very different values three years later, depending on upgrades, maintenance schedules, and the factors mentioned above. Prices also fluctuate with season, and how anxious the seller is to move the boat.
As a benchmark, it's a good idea to check your boat values with the Boat Trader Price Checker tool. If you have a loan on your boat, check to see the exact payoff amount, including any balloon payments or other charges. Use that to set the absolute minimum price you will accept for your boat.
A well-documented maintenance schedule, equipment upgrades, and selling at the beginning of the boating season will all increase boat value. A Boat Sailing To Tobago Location neglected hull with original powertrain sold at the end of the season belongs at the bottom of the range. Be realistic�but also leave yourself room for negotiation.
Every buyer wants to think they got a great deal. Special tip: Adding "Or Best Offer" instantly softens your asking price. While you should plan to come down from your starting point, there is no need to over-emphasize your eagerness to bargain�unless selling as soon as possible is more important than getting the highest price.
Tips to increase your boat value Save all maintenance records Wash and wax at least once a season. To learn how, watch How to Restore Faded Gelcoat Cover the boat when not in use Follow factory instructions for winterization and maintenance schedules On sailboats, inspect the mast annually and replace fatigued rigging Rinse trailers thoroughly, especially when used in salt water Next try reading How to Answer Questions About Your Boat for Sale.
For more articles of all sorts covering the ins and outs of selling a boat, check out out boats. Editor's Note: This article was originally published in May and updated in May Back Explore View All. Back Types View All. Unpowered Boats Kayaks Dinghies. Personal Watercraft Personal Watercraft.
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Or select country. Search Advanced Search. Personal Watercraft for Sale View All. Liked it? Share it! Facebook Twitter. Carol Cronin has published several novels about the Olympics, sailing, hurricanes, time travel, and old schooners. She spends as much time on the water as possible, in a variety of boats, though most have sails.
Boat Loans Zuzana Prochazka. Boating Guides. Boat Buyer's Guide. Boat Snapdragon 600 Sailing Boat Unity Seller's Guide. Spring Commissioning for Your Boat. Popular Articles Related Articles 1. Five Affordable Trawlers Under 40 Feet. What Hull Shape is Best? Best Boat Brands. What Type is Right for You? Top 10 Choices for Boaters. How To Negotiate Boat Prices.
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