Tips on selling your boat - from a buyer

[Sarubuta]

Hi there,
As a first-time second-hand boat buyer, I've gained some insights in what makes a boat saleable. These tips from purely from the buyer's point of view, so take them with a pinch of salt if you wish.

1 It’s a buyer’s market and buyers know it. No matter how lovely your boat is, it won’t sell itself. You have to make an effort to make it stand out from the fleets of other boats on the market. And this may mean coming to terms with the fact that your pride and joy won’t sell for anything like what you think it should.

2 Be honest with defects. You may be lucky enough to get that rich fool who buys your boat with no questions asked, but otherwise, everyone else is looking hard for things to justify undercutting your asking price. If something is wrong, the buyer will find it, so it’s better that it’s on the table from the start.

3 Tidy up a bit. Spookily enough, buyers can be put off by old food or rusty tools spilling out of the lockers. All the mess obscures the details buyers need to look at. If you can’t be bothered to police up the saloon, what else are you slap-dash with? Do this before the agent takes their photos.

4 Consider leaving your boat in the water for longer. It may be cheaper to store your boat ashore, but the buyer can’t see the engine, water system, electrics, gas and navigation instruments demonstrated as easily when it’s on a cradle, or even that the boat actually floats. If you want to sell your boat quickly, you have to prove things like the engine are in good working order. Assuming that every potential buyer is an old salt who can tell a good diesel engine from a bad one just by sight is a mistake.

5 Have every little piece of documentation collected and sorted. This goes double if the boat is out of the water. It’s worth including every little receipt for anything you bought because just the weight of paper indicates that you’ve been diligent about keeping your boat up to scratch. Poor documentation just leaves the buyer with no option but to assume the worst about the maintenance of the boat and gives them a bargaining lever to lower your asking price.

6 Give your agent as much detail as you can about the specifications and history of the boat. Collecting and sorting the documentation will help you do this. No buyer was ever put off by too much information about a boat they are interested in. Bringing to buyers’ attention the strong points of your boat will help you get a quick sale. Vague details will mean buyers pass your boat by, in favour of one which they know has that killer feature they were looking for. Meanwhile your boat remains unsold and continuing to cost you money.

I hope this helps all you owners with boats on the market.

 

[Capt. Clueless]

Nothing new there. Common sense prevails.

 

[lw395]

Nothing new there. Common sense prevails.

You'd think it would, but so often it does not.
A while back, we looked at a boat, it was a bit scruffy but seemed sound. I was almost tempted to suggest we spent a day with the Mr Muscle to see how it cleaned up.

 

[Spyro]

All good stuff but I'm still not sure it's a buyers market. Yes there are loads of boats for sale. I hear the term buyers market a lot but there are still far too many boats over priced and for sale too long at unrealistic prices. If you're really buying you will have a budget and probably a specific boat or two you are looking for so that narrows down the search considerably.

 

[sogood]

I'm a regular lurker on websites, looking at boats for sale, just out of curiosity. These would be 99% private sales and I'm surprised by the number of boats for sale that come with a load of pictures, many duplicated, of the outside. Very often there are no pictures whatsoever of the inside. This always suggests to me that the buyer is either hiding something or at least, isn't too proud of the interior condition.

I think as a seller, you should always provide the information that you would like to have, as a buyer. Otherwise you are wasting everybody's time.

 

[JumbleDuck]

4 Consider leaving your boat in the water for longer. It may be cheaper to store your boat ashore, but the buyer can’t see the engine, water system, electrics, gas and navigation instruments demonstrated as easily when it’s on a cradle, or even that the boat actually floats. If you want to sell your boat quickly, you have to prove things like the engine are in good working order. Assuming that every potential buyer is an old salt who can tell a good diesel engine from a bad one just by sight is a mistake.

Upside of staying in the water: buyer can start engine. Dunno about your boat, but the gas, water, electrics and instruments on mine work when she's ashore too.

Downsides of staying in the water: buyer can't see condition of hull or propeller, cost of survey double by need to haul out and relaunch.

I think the downsides win.

 

[AntarcticPilot]

Upside of staying in the water: buyer can start engine. Dunno about your boat, but the gas, water, electrics and instruments on mine work when she's ashore too.

Downsides of staying in the water: buyer can't see condition of hull or propeller, cost of survey double by need to haul out and relaunch.

I think the downsides win.

Yes, I think people are a bit paranoid about engines. The vast majority work fine, and realistically there isn't a lot to go wrong with the average marine diesel! If the seller can show that the engine was working last time she was in the water, and that reasonable maintenance has been carried out, I wouldn't have any worries. And surely most people have a fair idea of what they're looking for; I had been out of the sailing scene for over 20 years when I bought Capricious, but even so had a fair idea of what I was looking for. I actually bought a boat that was on the hard, and was happy to do so. As I was out of practice, I availed myself of my brother's more current expertise, but that only confirmed my thoughts rather than changing them. I had a survey done, and also had an engine survey (which basically said "nothing to report!").

 

[Robin]

We are currently in the market again and looking. Whilst the OP has some veryvalid points he should remember too that many sellers have themselves been buyers previously. In our case we have sold one more than the 12 or so cruisers that we have so far bought. Over that 50 year span we have seen many overly hopeful buyers and ourselves been overly hopeful sellers. Welcome to reality. When two sides meet there is a probable sale.

 

[sailaboutvic]

The OP has some good point ,
One I would add is make a video of the boat inside and out then put it on the net , if you have an broker ask him to put the link on the listing sheet.
I sold and brought over the last 2 years , it took me a while to find a Moody in good enough condition to buy excepting its going to need up dating , when I did find it, I didn't even bother with an offer as the price was fair for the condition of the boat.

I also have to agree with spyro, if you have the run of the mill boat like a Ben,Jen,Bev,Dufour that may be the case, there hundred for sale.
but some buyers are looking for a particular type of boat ,
Oyster,HR,Moody,classic,so on,
and a good one will hold its price well.
Although even a good Ben,Jen,Bev,Dufour will fetch a god price , if it's marketed well and looks nice, it just may take a little longer to sell.
It took us 6 months to sell our Dufour privately and we got 2k less then it was advertised for .

JD as also a good point,
as well to what he pointed out ,leaving it in the water encourages time wasters to ask for a sail, a good broker will basically only agree once the contract is sign and after a survey, if it's having one ,
but a private sell could easily be fooled thinking he lost the sale if not.
What a lot of buyers don't understand is a sea trail is to check on equipment that can't be checked out while the boat on land ,
it has nothing to do with how well the boat sail,you can't back out of the sale because the boat don't point as well you through it would.

 

[flyingscampi]

When I bought my boat, it had been sitting on the brokers pontoon for some time without any maintenance.

The brokers let me keep it there while I made it seaworthy, and a few weeks later a staff member from the brokers wandered past and commented on the new rigging. I explained that it was the original rigging that I had simply cleaned and polished.

 

[dunedin]

Good sensible points from the OP

And when selling to me, I definitely prefer a boat afloat and rigged rather than on the shore.
And a sea trial / demo sail can be whatever the buyer and owner/broker agree it to be. If there are masses of other punters waving piles of cash and racing you to a deal, then don’t expect much/anything. If you are a serious buyer, with clear ability to pay for the right boat, then brokers can be very helpful. We had a full test sail on our previous boat (pre-formal offer and survey) with broker and local sailmaker on board. They knew we were not tyre kickers, and were confident in their product. Ended in a great deal for both parties. So no fixed formulas.

 

[No Regrets]

This is fine from a new buyers/first time buyers perspective, but falls over on the basis many boats are sold to people who know and understand boats.

The very first boat we went to see had a damp smell and was fairly grubby, which put my Wife off straight away. After owning a couple more boats, our third one was exactly the same, but we knew we could sort out the musty smell and clean the boat quite reasonably for fifty quid if we did the work ourselves.

Static boats can look a bit iffy and smell musty within a few weeks, certainly months even if they stated off looking fine, if not maintained a couple of times a month, so somebody buying a 'gleaming example' in November, and leaving it until February before attempting to use it could get a very nasty shock when getting on board for the 'second time' walking into a sad looking cabin with mildew and dripping windows.

While I agree people selling boats should present a clean, dry and tidy visage, it's not the big deal some folk think it is.....Overall condition, Asking price and the ability to negotiate realistically are more important, given the actual model of boat on offer has been considered.

All IMHO obviously :encouragement:

 

[steve yates]

Nothing new there. Common sense prevails.

You may think that, but I can assure it is ALL exceedingly rare when looking at second hand boats, in my experience. One noticeable exception was the lovely samphire 23 I viewed belonging to a member on here, but most of them were a mess. May have been good boats under it, but I couldn't tell, and didn't feel like making the effort, since they obviously hadn't.

And re in or out of the water, though jd makes very logical points, I would want it in the water. Particularly after having bought one on the hard!

I would want the engine up and running, and want to hear it, let it run for a while, see what comes out the exhaust etc. I'd rather have to replace a prop or stern gear than an engine. I would also want it moving before I paid for it. I am probably not being very logical, but there is a viscereal fear that the boat may leak like a seive or just sink, if it is sitting on land.

 

[pagoda]

We have done a boat swap in the last year. Having looked at perhaps 15-20 boats over the previous year we got a feel for what was attractive and what was not. A shocking number of boats lapse into an "unloved " state. Dirty, full of owner's kit, patched upholstery, naff sails, ancient dubious electrics.smells and stains... Whether people lose interest entirely and no longer care (did they ever you ask?), I do not know. There are some of them still on the hard still, unsold a year later. With tiny reductions from unrealistic starting prices.
Our "old" boat was quite well looked after, good sails, clean inside, written maintenance log and so on. Jeanneau 35 - so not remotely unusual. A decent family cruiser. She took 4 months to sell. We were quite realistic about price and wanted a sale. We bought the "new" boat first. Having 2 boats is a fairly stressful experience... don't go there!

 

[lw395]

I remember looking at a few that were so grubby outside, it was hard to tell if they needed a paintjob or not. A couple of hours every month with a bucket, a brush and some car shampoo would have made a big difference.
Also, if possible remove everything that is portable. Things disappear when random punters are given the keys. But leave a folder on the chart table with full inventory and other info.

 

[Capt. Clueless]

Nothing new there. Common sense prevails.

The reason I said that, is there is nothing there that I wouldn't do. I sold my Snapdragon last June in a very, very competitive field, but ensured EVERYTHING was spick, span and ready for inspection, including it floating on the water. After all, in the forces, you wouldn't turn up on parade with your trousers down and your shirt un ironed!!

 

[thinwater]

a. A survey is going to require a haul and relaunch either way, since the boat will need to be examined both in and out of the water. I've bought and sold boats both ways. However, if the boat is in the water, you pay for only a sort haul in the slings, where as if the boat is on dry land, you pay for a full haul. Thus, in the water is generally cheaper. So this "downside" is actually an up side.
b. The buyer can better visualize himself at the helm with the boat in the water.
c. A "test drive" can really sell a boat. Most brokers don't like this, because it takes time, but if you can sort out the serious lookers, this is a great way to sell a boat, IMO. As I say, you have to be able to sort the serious lookers. I like sailing, so taking someone out was never a real imposition! Over 3 sales, I've averaged two test drives for each close. Tha's not bad at all and is time well spent, IMO.
d. It may cost more to stay in the water, it may be cheaper to store on land. That depends.


Staying in requires a little more checking. That is a downside. Do you plan to sell the boat actively and quickly, or do you plan on sitting back for a year and waiting for the buyer to find you? The former should stay in the water, the later should haul out.

 

[sailaboutvic]

a. A survey is going to require a haul and relaunch either way, since the boat will need to be examined both in and out of the water. I've bought and sold boats both ways. However, if the boat is in the water, you pay for only a sort haul in the slings, where as if the boat is on dry land, you pay for a full haul. Thus, in the water is generally cheaper. So this "downside" is actually an up side.
b. The buyer can better visualize himself at the helm with the boat in the water.
c. A "test drive" can really sell a boat. Most brokers don't like this, because it takes time, but if you can sort out the serious lookers, this is a great way to sell a boat, IMO. As I say, you have to be able to sort the serious lookers. I like sailing, so taking someone out was never a real imposition! Over 3 sales, I've averaged two test drives for each close. Tha's not bad at all and is time well spent, IMO.
d. It may cost more to stay in the water, it may be cheaper to store on land. That depends.

Staying in requires a little more checking. That is a downside. Do you plan to sell the boat actively and quickly, or do you plan on sitting back for a year and waiting for the buyer to find you? The former should stay in the water, the later should haul out.

Again some good points

But (A) a boat has to be out of the water for 24hours if you want a good moisture reading.
This I know because five different surveys when I ask for quote buying my last boat .

(C) not sure why people not only just yourself call it a test sail of test drive , although I remember making that mistake calling it that once here , it's sea trial , and it's for checking on engine,gearbox and other equipment you can't test on land , this is normally done last, at which time you know the boat as no major faults.
Any sell worth his salt would point out any major problem with engine or gearbox in he begin, knowing they will come to light later and I can't think of much equitment you can't test on land.

The Last boat I sold was on the hard, sold on the understand every thing worked and by any chance anything stop working on charge over day I would repair it at my cost.
Every viewing when the conversation got round to the boat being on the hard everyone said they prefer it that way, save them money on haulout.
The reality is there thosands of boats for sale , but in option it doesn't necessarily make it a buyers market.
More competitive market.
The right boat in Good condition with time can fetch a good price,
What there seen to be is lots of boat well over priced in very bad shape and buyers looking for bargain boat, only to find their bargain boat turning out to be a money pit and them complaining about it, as we found here at times.

 

[solent clown]

We only ever buy project boats, an inherently risky business, but one can end up with a lot of boat for the money. We have the advantage of a very large transport trailer that will take a fin keel yacht up to around 30ft. Many of the same rules apply to project boats, a clean and tidy project hull, and all the bits and bobs boxed and present is much more attractive than a boat full of junk. One thing seems to be true following very careful analysis over the last 2 years - there isnt much money in buying and selling boats - unless you are a broker. There are lots of scruffy boats out there cheap, and lots of tort sale stuff coming out of Lymington and The Hard for instance very cheap, but it tends to be the sub 30ft variety, and by the time you factor in the risks and potential costs they do not represent a viable commercial deal. I am sure if more boats were wood there would be a lot more bonfires around the shoreline. Even yachts with an engine are worth less than the engine cost if they need a lot of work because of the huge disposal costs of the hull. This impacts the selling price, and saleability of smaller yachts, so good presentation of a budget yacht is at least as important as for more expensive yachts. At the budget end you tread a thin line hunting a neglected bargain while avoiding the wrecks and money pits.

 

[RupertW]

We only ever buy project boats, an inherently risky business, but one can end up with a lot of boat for the money. We have the advantage of a very large transport trailer that will take a fin keel yacht up to around 30ft. Many of the same rules apply to project boats, a clean and tidy project hull, and all the bits and bobs boxed and present is much more attractive than a boat full of junk. One thing seems to be true following very careful analysis over the last 2 years - there isnt much money in buying and selling boats - unless you are a broker. There are lots of scruffy boats out there cheap, and lots of tort sale stuff coming out of Lymington and The Hard for instance very cheap, but it tends to be the sub 30ft variety, and by the time you factor in the risks and potential costs they do not represent a viable commercial deal. I am sure if more boats were wood there would be a lot more bonfires around the shoreline. Even yachts with an engine are worth less than the engine cost if they need a lot of work because of the huge disposal costs of the hull. This impacts the selling price, and saleability of smaller yachts, so good presentation of a budget yacht is at least as important as for more expensive yachts. At the budget end you tread a thin line hunting a neglected bargain while avoiding the wrecks and money pits.

That's a good analysis - I've just given a away a 24 footer that I've spent a lot of time every year looking after and replaced a heap of stuff over the last few years including a brand new engine last year. Can't dispose of it without cost and it seemed silly keeping it for another two unnecessary seasons just to get value out of the 4K for engine and fitting.