Private sale or Broker

[russ]

I,m currently selling my 2005 Bayliner 265 and just wandered if its better to sell it privately or with a broker and lose 10% incl. vat on fees. In my search I have emailed a few brokers with interest in their boats and without a reply back. Doesn't seem like they're very active for their money.
Assuming I get full asking price (which obviously is not expected) at £31500 minus fee leaves me £28475. Should I just drop the price with a view to getting a little more or just use a broker?

 

[Tranona]

Find a broker who specialises in your type of boat and go and talk to him.

 

[superheat6k]

IMHO a broker is worth their fee.

I would recommend Whyboats at Bursledon as being very pro-active.

Plenty of threads on here about presentation of a boat for sale.

 

[Canopy Locked]

remember the golden rule in selling.. "You only get one chance to make a 1st impression."

While there are good brokers out there, if you're close enough to manage viewings and ensure the boat is perfect I'd say do it yourself.

 

[Medskipper]

I've always sold my boats and houses myself, but then I've spent my life in sales and feel most people who call themselves salespeople are not at all! Sure they will serve you if you want something but many have not been trained or indeed studied the art of selling and I'm afraid this applies to many in the marine trade. A good sales person seeks to find out what you want, how you will use it and match what he has to his prospects needs. There are many more aspects which cannot be gone into here!
If you feel you have the skill, then sell it yourself, after all you know your boat better than anyone? If not then employ a professional and pay the price.
But one piece of advice, telling is not selling! Ask your prospect searching questions, and more importantly, listen to what he says, remember what he tells you and bring that back into the conversation a bit later, this helps to develop trust in you and what you are selling.
Good luck.

 

[Stats007]

I've yet to find a broker worth their fee. If you have the time and don't mind dealing with a few time wasters then sell it yourself.

 

[russ]

Perhaps I will have to drop the price a little more and see how it goes over the next 4 weeks. She's all clean, polished and ready to go.
Ref Whyboats, there was the added cost of lifts in and out at their location plus the selling fee.

 

[jrudge]

And don't forget to get a signed contract, huge deposit and ensure all buyers are accompanied by both parents.

I speak in jest by the way !

 

[brainstorm]

Another vote for WHY brokers on the Hamble, very proactive and helpful

 

[PEJ]

Have you given consideration to how you will handle the transfer of funds when you agree the sale? Brokers are handy because they have the client accounts to take the deposit and final payment. I'd feel safer handing dosh over to a reputable broker than some bloke I don't really know.

 

[rotrax]

I've yet to find a broker worth their fee. .

What a sweeping statement-how many brokers have you actually used?

It was not a Motor Boat, but First Mate and I have just sold our lovely Island Packet 350 in seven months. We used John Rodriguez yachts as broker. We put her up for strong money in a less than lively market for yachts in the price range-100K-and on his advice dropped the price 10% after analasis of views on line resulted in no physical interest.
We quickly had two viewings, the first from an exeptionally tall man who did not fit either of the berths comfortably.
The second viewing resulted in a sale at close to the asking price.

J. R Yachts promoted our boat well, kept us informed at all times and gave advice that worked. The website is top notch, really good photography and tyre kickers are weeded out by interview when they show interest in an advertised boat.

We on the other hand kept our end of the bargain by presenting our boat properly and despite it being on a swinging mooring we made it easily accessible by booking a marina berth for viewing.

Our experience with some brokers has not been so good. John Rodriguez found several mistakes the broker we purchased through had made, including the HIN No. being wrongly noted and my name spelt wrong in three places. We had had the boat six years and had not noticed-or realised how detrimental to a successful sale these issues could have been if not noticed and corrected.

We used J. R. Yachts to handle the conveyencing of our recent purchase also. The fee was reasonable for the peace of mind it gave us with a major purchase-knowing the paperwork was dead right and recieving an MCA bill of sale-effectivly a deed-means we should have no problem when we sell in the future.

Not only that, John Rodriguez-jonic of these forums-is a nice bloke.........................

 

[superheat6k]

Have you given consideration to how you will handle the transfer of funds when you agree the sale? Brokers are handy because they have the client accounts to take the deposit and final payment. I'd feel safer handing dosh over to a reputable broker than some bloke I don't really know.

Worth mentioning that Whyboats were happy to handle the sale as a transaction only if I introduced the buyer at a reasonable flat fee. As it was they found my buyer in short order and earn their fee. I appreciate they will charge fees to put the boat in their lot, but they have probably the best position in the Solent area for this, and they do move a lot from the shore stock.

 

[Stats007]

What a sweeping statement-how many brokers have you actually used?

It's not a sweeping statement - just a statement of fact based on my own experience. Having bought and sold a boat every year for the last 9 years I've encountered quite a few.

Have you given consideration to how you will handle the transfer of funds when you agree the sale? Brokers are handy because they have the client accounts to take the deposit and final payment. I'd feel safer handing dosh over to a reputable broker than some bloke I don't really know.

Quite a few brokers offer this service. Claire at Bates Wharf handled a transaction for me when I sold a boat to a gentleman in Sweden. Fee was about £65 from memory.

 

[wipe_out]

When I sold our boat last year I put it with a broker that didn't require exclusivity and I marketed it myself at the same time.. Ultimately I sold it privately but the broker did bring through some prospective buyers as well.. So it doesn't have to be an either broker or private.. You can do both and as long as you get out the amount you are happy with at the end it doesn't matter who actually completes the sale..

 

[Baseplate]

Have you given consideration to how you will handle the transfer of funds when you agree the sale? Brokers are handy because they have the client accounts to take the deposit and final payment. I'd feel safer handing dosh over to a reputable broker than some bloke I don't really know.

I don't see that as an issue. My purchase of 'Sea Angel' was a private deal and, by the time both parties were well into the deal, a level of trust and connection had been established. Thus, by the time it came down to the grubby subject of moving money around, the CHAPS system suited both parties-I gave an instruction to my bank and for a £25 fee, the funds were in his account 3 hours later.

The seller then scanned and mailed a RYA Bill of Sale the same day, with a hard copy arriving by snail-mail 2 days later.

Job done and with stress reduced to a minimum.

 

[colingr]

Just sold our boat through a broker. Worth every penny.

1) They deal with the time wasters.
2) They handled all of the viewings, in some case multiple for one possible buyer
3) They dealt with the sea trial.
4) They ensure the financials are handled properly.
5) They sold it for a very good price very quickly.

These guys

http://www.southamptonwaters.co.uk/

 

[volvopaul]

I have just sold my Phantom 43 private, the buyer had a survey and sea trial, we did most of this based on a gentlemanly agreement in that if for any reason he did t want the boat after survey and sea trial I was happy to give his small deposit back. The boat was presented well, maintained to my standard, surveyed by a well known surveyor who found very little use of his pen on the day. My buyer looked at just about every other Phantom 43 on the south coast and other makes in other areas. Paperwork history , vat status, service history, previous owners history all help selling your boat. Be open and honest, be prepared to answer every question honestly and give as much advise as you can. My buyer was relatively new to boating at this level, I have done all I can to help him to his new venture, I'm now happy to call him a friend who I will support in the future with my old boat.
On the ownership title proof I was happy to show him my Building society book which showed the deposit paid and the balance to the broker I bought the boat from , in my opinion it's easier to prove title if the boats financed as a buyer like a broker can speak to the relevant finance house, find out Ho much is owing.
If the deal goes ahead a settlement figure can be paid and the balance if any paid to the seller, part 1 can be advised and the title transferred as most mortgages are listed on part 1 if it's a relevant amount. Don't get me wrong I'm no legal eagle or broker but that's how it's done, until some kind of HPI system is made as per the car world it wil always be difficult to prove you own a boat even if you do, it's all to easy to tick the box on the MCA bill of sale that asks is there finance on the said vessel. I just hope my next boats purchase is as easy as mine was to buy and sell.
Good luck with your sale.

 

[volvopaul]

Find a broker who specialises in your type of boat and go and talk to him.

Jaykay marine sales, talk to Brian Simpson, he's a real Bayliner man, I think he has owned just about every model made.
He will advise you on every aspect of sale.

 

[Medskipper]

Have you given consideration to how you will handle the transfer of funds when you agree the sale? Brokers are handy because they have the client accounts to take the deposit and final payment. I'd feel safer handing dosh over to a reputable broker than some bloke I don't really know.

It's worth reminding people that any solicitor will handle the actual deal at reasonable cost.

 

[Jim@sea]

In my opinion it depends where your boat is and how much it is worth. If I had a boat for sale at a popular and well located Marina I would use a broker as the location itself would provide an enhanced price which would more than cover the Brokerage costs.