Selling advice

[conehead]

Hi all

Hoping for a little guidance. I'm really new to being a boat owner and sailing in general so yes, I'm probably ignorant and definitely don't know what I'm talking about. Please keep in mind that everything's completely confusing for me because this time last year I had never set foot on a boat before, and I just don't have any background knowledge of how these things work.

With that out of the way, here's my problem:

- Bought boat last year, had long sailing season, left her on marina over winter while I was working.
- Now want to sell, but insurance runs out in July and they won't reinsure without a new survey.
- Boat was built 1977
- Last survey was 2015, when she was 38.
- I am strapped for cash and would rather not pay for new survey (and accompanying fixes) unless it's absolutely necessary.

I had thought I would just be able to sell quick and low and take a hit on the price but it seems unlikely now given there's only 8 weeks until the insurance runs out.

She's currently afloat but I wondered if it would make a difference if I had her brought ashore until she sells. Walking around marinas there always seem to be one or two grotty boats that don't look like they'd float if they were put in the water. Presumably they're still insured to be in the marina, but I've phoned a couple of brokers and their answers all involved getting a survey done. And again, there's cost involved with getting her bruoght out of the water and paying to have her stored.

I feel like I just don't understand enough of the ins and outs of it all to properly consider my options, so any advice/suggestions would be welcome.

What do boat owners usually do when they don't have enough money to keep the boat any more? I can't be the only one who's got into a situation like this

Thanks

 

[ash2020]

Sorry to hear your situation. I'm not sure how it works but I've only ever been able to sell a boat for much less than I paid. I certainly wouldn't bother with a survey. If anyone is interested, they will either get their own survey or buy it without. If they're not interested, the best survey in the world won't persuade them to buy it.
In my opinion, I would get third party insurance just to be safe and advertise in the usual places, Apollo Duck, Boats & Outboards. I definitely wouldn't get a broker involved.
My last experience was, I had a lovely Varne in Scotland which I paid £12k for. Reupholstered, did lots of improvements and couldn't sell when I moved away. Had her trucked down to the South coast, which cost £4k. Finally, after a lot of trying, sold her for £6k.
As I say, I don't understand, I don't think I'm gullible but selling and buying prices never seem to match.
Good luck.

 

[Tranona]

It is tough selling boats at this end of the market, but perhaps easier if it is in commission and in tidy condition. Agree, keep it afloat and insured third party while you find a buyer. It is up to the buyer to decide whether he wants a survey or not. Little value in you getting a survey first as the buyer cannot rely on it, although it may help him get insurance.

 

[Mark-1]

How cheap do you want to sell?

EBay with zero reserve in theory ought to gaurentee a sale. In practice perhaps not, but a lot of the local marinas do just that with derelicts.

 

[alahol2]

Check with your marina, they may only require third party insurance. It should be possible to get third party insurance without a survey.

Edit: Too slow...

 

[Mark-1]

Check with your marina, they may only require third party insurance. It should be possible to get third party insurance without a survey.

I'm sure Basic Boat don't require a survey and the cost is peanuts:
Basic Boat liability insurance-small boat liability insurance-boat insurance

 

[Stemar]

Just a thought - are you selling because boating isn't for you, or because of a, hopefully temporary, cashflow problem?

If the latter, a mooring in a creek somewhere would cost a LOT less than a marina berth, and a tidal one would be cheaper still; they're mostly for bilge keelers, but there are plenty of fins on drying moorings in the gloopy mud of Portsmouth Harbour.

Third party insurance, as mentioned above, won't need that expensive survey, and most areas have plenty of places you can anchor for free, rather than paying for a marina on weekend trips

 

[Biggles Wader]

Your marina will require 3rd party insurance which is cheap--? £150 ish and no survey is needed. Take that out when your current policy expires if you still have the boat. Meantime if you have decided to sell just sell up now for whatever you can get----delay will just cost you in marina fees and other expenses which will very rapidly overtake any losses you incur by selling cheap now.

 

[KevinV]

You don't mention the aprroximate value of the boat - if it's quite low then ebay is a really good option - as above, what you lose in boat value you'll gain in saved marina fees. If the buyer wants a survey then haul out and survey is at their expense. It's exactly how I bought my boat at a discount (subject to me being happy with the hull when it was lifted onto my trailer), and the seller was delighted to be rid of what had become a liability to him.

 

[xyachtdave]

What do boat owners usually do when they don't have enough money to keep the boat any more?

A well trodden path is to disappear and change your phone number.

 

[coveman]

I have just renewed my comp insurance with GJW (recently taken over by Ripe). If your boat is worth under £15,000 and under 50 years old they do not require a survey.

 

[wonkywinch]

What do boat owners usually do when they don't have enough money to keep the boat any more? I can't be the only one who's got into a situation like this.

Find yourself a beautiful natural harbour, bonus points if it's a nature reserve. Double points if it's National Trust managed.

Then scuttle her there.

Apologies for making light of your situation Conehead, some good tips here. GLWTS.

 

[yatnus]

Totally get where you’re coming from — been there myself. It’s overwhelming at first, but you’re asking the right questions. If you’re not planning to keep the boat long-term, bringing her ashore might make her easier to show/sell, and you can pause the marina fees.

 

[Mark-1]

Is it true that boats are easier to sell ashore? When I was last looking "Ready to Sail" was pretty desirable. Boats ashore always made me fear something expensive would turn out to be missing if the boat wasn't in use.

 

[Egret]

Some East Coast brokers offer 3 or 6 month free storage if you place boat with them, if they think it will sell - maybe some do where you are -

You pay brokers fee but no time spent on showing people the boat and taking them for trial sails - Broker looks after you (and the buyer) - no worries - checks buyer genuine, help arrange delivery etc- .will get best reasonable price,

This type of broker also good for buyers - can see a range of boats at the same time and compare them.
-
Present the boat well - especially inside - clean bunks, nice curtains and carpet, nice ornaments - thorough, maybe professional clean - is it all set for the new buyer to go on holiday in it for a week or two straight away.

 

[Never Grumble]

Without knowing make and model it's impossible to understand how attractive a pure case it might be. Albeit condition and how equipped will also factor into this. If its been on the water all winter its likely to need a good clean.

 

[KevinV]

Without knowing make and model it's impossible to understand how attractive a pure case it might be. Albeit condition and how equipped will also factor into this. If its been on the water all winter its likely to need a good clean.

In previous posts the OP talked about a Centaur

 

[ylop]

bringing her ashore might make her easier to show/sell, and you can pause the marina fees.

you’ll still be paying storage fees ashore, which are often not wildly different to marina fees (esp if you are renting a cradle etc, or if you pay for mast down/up to keep on shores).

 

[D1bram]

The situation you are describing is why more and more boats are being offered for free or at a nominal sum - the cost of keeping and maintaining a boat can very quickly exceed the value.

A few thoughts and ideas...

Joining a yacht/sailing/boat club can offer a much cheaper means of mooring, storing and maintaining your boat. Though at the expense of convenience, you will likely need to row out to a mooring, help out maintaining moorings etc and be involved hands on in lift out and in. This is what I do and it costs me about a 1/10th of what it does my dad for a similar sized boat round the corner in a marina.

Depending on the type of boat, location and rules of the marina, some boats have been successfully transformed into cosy and novel Air BnB rentals.

Insurance wise, a third party policy can be had from Basic Boat for about £90, it's very straightforward too.

Scrapping a boat costs about £100 per foot, maybe less if you hire a skip and chop her up yourself. In my opinion you'd be better off giving her away than ending up in this situation.

 

[Never Grumble]

Immaculate Westerly
The OP should read the last post in this thread.