Yacht Broker License

Ways to Sell Your Boat

We often don’t take much pain while selling our boat as compared to what we took while buying it. We spend so much time to buy the rightly priced boat but without understanding the market trends, we just slap a price without thinking twice if we are selling off our boats at the throw away prices. While at times some boats are really undervalued, the others are over prized. They even eat up plenty to put in a classified ad in a local daily.

Thus, it’s always beneficial to sell off your boat in a methodical manner. It has the following benefits:

• You will get a good prize for your boat
• The efforts you have to put in will get minimized automatically

Setting a price for your boats involve four main criteria:

• Setting a right price
• Understanding how to sell
• Prepping
• Paperwork

Pricing

If you have priced your boat too low, you are always at a loss financially. Similarly if you have priced your boat too high, then too it’s a waste as you would not be able to get an appropriate buyer for your boat. No matter if you own a yacht in Kayak or a small boat keep the following points in mind:

• Cross check classified ads to get to know how much is the resale value of a similar boat as yours.
• Give an advertisement yourself.
• Talk to a local dealer.
• Take help of a marine blue book.

Where and When To Sell

You may sell off your boat on your own, through a yacht broker or trade it. The selection of method depends upon the size of the boat and majorly by value as well. Small boats usually have to be managed on your own. However, large boats like a yacht can be sold off through a broker as well. This is so as it involves lots of negotiations and paper works which cause a lot of pain. So it’s better to sell them through a broker.

The right time to sell off your boat is the beginning of the boating season. This is the time when you can make good money.

Dealing with Brokers

There is no difference between a real estate agent and a yacht broker. They take commission upto 5-10 percent. If you can bargain with them, you will end up getting a better price for your boat. It’s advisable to go for a licensed broker only. 

Prepping Your Boat

You get a better price for a maintained and clean boat. So investing into getting it scrubbed and greasing will help you a lot. You may even get it polished with wax. You may incorporate the following in your prepping up:

• Charge your batteries
• Add chemicals to holding tank
• Repair any damaged equipments
• Do some cleaning with its interiors

Paperwork

The bill should include following:

• price,
• buyer and seller names,
• type and size of boat,
• addresses and driver's license numbers,
• registration numbers and
• all the included equipments

Visit http://www.boat.ae for more boat related information!

About the Author

Florian Stephan