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Three Ways You Can Sell Your Used Boat
Selling a used boat can sometimes be challenging depending on your on-water future. Have your eye on a new boat or an upgraded used boat? If so, the following information might prove helpful.
Basically, there are 3 common methods to sell your used boat. You can sell it yourself, have a brokerage service sell it for you, or trade it in to a dealer on a new boat model. However, to maximize your value careful consideration should be given to appearance and mechanical function.
Preparing Your Boat For Sale:
- Cleanliness - every inch of the boat should be detailed including storage lockers, bilge, engine room and cabins. Clean the decks and hull and, if oxidized, compound and polish. Consider new linens and fresh décor to make a positive first impression - some say the single most overlooked necessity.
- If used in the salt, a fresh coat of bottom paint should be applied - if it's been previously coated. New sacrificial anodes and any running gear or sterndrives should be serviced.
- Clean all canvass, bimini tops, isinglass enclosures, etc.
- Engines should be serviced, fresh oil, new filters, etc. Service the genset. Maintenance records should be available for inspection. Normal wear and tear should be expected, however, don't skimp on maintenance issues. Make sure batteries have a full charge an engines start immediately.
- Equipment and electronics should all be in working order. Replace any burned out light bulbs. Check fresh and raw water systems. Sanitize the head, shower, and holding tank system. Make sure the heat/AC system is operational.
- Make sure USCG required equipment is "in date." Check ground tackle, lines and fenders and tidy up these items.
- If your boat has a trailer, do not overlook this crucial item. In most states a boat trailer must pass inspection upon title transfer.
- Have good digital pictures available to advertise on the internet and to send to prospective customers.
Sell Your Used Boat Yourself
Sport boat to yacht, some boaters prefer to sell themselves with a goal of maximum return on investment. Careful attention should be given to pricing so that the right market value is established - neither too high nor too low, which will result in no sale or lost revenue.
Clarks Landing has numerous resources available to help you determine the correct asking price prior to spending money on advertising, either in printed journals, newspaper, or internet. A sales associate will welcome the opportunity to communicate for additional positive information which could materially affect the value of your boat.
Broker Your Boat
Boat brokers have been likened to real estate agents in that they facilitate the sale of your boat. Your boat brokerage listing would be advertised and promoted widely. Typically boats over 25' are included in internet sites specific for boat brokerage listings. A commission is paid for boat brokerage services where your expectation should be a fair market retail value for your used boat less commission.
Clarks Landing, a Certified Professional Yacht Broker, adheres to the high ethical sales standards which separate members from other boat brokers. With high regard for the goals of the owner, Clarks uses an aggressive marketing campaign, and, has numerous local facilities which can include storage.
Click to find out about Clarks Landing's Brokerage Service
Trade-in Your Used Boat
A trade-in is often the easiest and most seamless method of used boat sale if your plans include upgrading to a new or larger vessel. Although trade values are somewhat less than market value, one advantage is less sales tax levy, since you would typically pay on the cash difference between trade-in and new.
Clarks Landing, a Sea Ray® Ambassador Dealer, maintains new inventory across 4 Mid-Atlantic dealer locations. If you would like to hear more about your trade-in value and/or the Sea Ray lifestyle, a sales associate would welcome the opportunity to provide additional information.
Click for trade-in value
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Pros
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Cons
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Sell it Yourself
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potential for highest value
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time
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satisfaction of doing it yourself
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advertising & promotion
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save commissions
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showing the boat
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sea trials
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liable for problems
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Brokerage
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potentially high value
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professional representation
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pay comission
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advertising & promotion
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could be out of boating until sold
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Trade-in
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seamless transition to new boat
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potentially lower value
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tax advantage
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Of the different waterways you can navigate to sell your used boat, there is no right or wrong way, only what is best for you. Take some time and weigh your options. You can always try one method and change to another if it doesn't work out. The people at Clarks Landing are here to assist you with information or any aspect of selling, brokering, or trading your used boat. We enjoy sharing what we are passionate about; please feel to contact us at any time via email or call us at 410.604.4300.
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