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post #10 of Old 08-15-2006
yacht broker
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costs, costs, costs

Originally Posted by Gene T
There is a boat a boat on the market I would buy tomorrow if it were properly priced, it has been on the market for over 2 years. Your costs, slip rent, insurance, depreciation and maintenance do not stop just because you decide to sell your boat. When this particular boat does sell it will probably go for market value or less, with no recovery for the years it has spent idle. Properly priced boats sell fast. So, if you are really serious about selling your boat then you should go about it aggressively. There is a lot of wisdom in what captnnero said.
Thanks Gene. You make a very good point about costs other than "paper" depreciation. Having a professional broker can sometimes help mitigate those typical boat costs. Some brokerages have established relationships with strategically placed marinas in heavy traffic markets (Annapolis, for example) such that their brokered boats get a much better rate whether in the slip (best for selling) or on the hard (best for cost). Such benefits can extend beyond those rates too, such as when you need a launch or short haul for the survey and sea trial. Try getting a quick lift job when it's peak launch or haulout season as a regular owner. Sometimes it's like, hey, get in line. Then the whole deal goes on hold until you can get your hands on a boat lift.

Another sad aspect about boats for sale is that when they don't sell right away the maintenance tends to get way behind and that of course lowers market value and complicates and reduces the likelyhood of the sale. The hull gets dull looking. Unused running rigging lines get stiff. Deck leaks appear or get worse. The whole vessel gets dirty or musty. Odors appear from head plumbing hoses. I know of a case when the head odor got to the point that one potential buyer wife had to use the stern rail as if seasick if you know what I mean. So much for that showing ! The wasps and bees move in where ever they can outside. I had a personal experience with that once, what a surprise !

I like Gene's use of the phrase "go about it aggressively". Time is of the essence. People often are making two boat payments until the old one sells. A couple of times when transitioning vessels we owned two boats for a while. Our priorities immediately became fixated on the boat for sale, to the point that we would at least rinse the decks when a showing was scheduled soon.
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