overdue at Sans Souci
Join Date: Nov 2007
Location: Midland Ontario
Thanked 0 Times in 0 Posts
Rep Power: 8
I've bought and sold a number of boats, both privately and through a broker (the same goes for houses. I also wrote a whole book about vacation property ownership, which included buying and selling privately. Look up The Cottage Ownership Guide on Amazon,). A few comments:
1. Agree with others: skip the "what I paid for her, what I thought I should ask." People care about what similar boats (model, comparable length, age, gear) are asking/getting. If you're going to be "firm" about the price, be prepared to have the ammunition to defend it. And then be prepared to go lower. I think telling people you can't afford to own two boats is only going to encourage the low-ball offers. And not having a broker automatically makes people want to get a "discount" for your not having to pay commission.
2. Biggest question you're going to get: recently surveyed? Your site is full of stuff, and maybe I missed this, but availability of a current survey (especially if you just bought it in 06) should be way up front. It defends the price and will encourage people who live a long way away to actually consider coming and looking at it.
3. Be prepared for legions of tire-kickers, and online queries that ask for miles of details and never get back to you. Especially because you have one of those yachts that attracts dreamers like bees to honey.
4. While you are determined to sell privately, do consider the services that a broker can offer. (And no, I'm not a broker.) They can filter the nuisance buyers for you (or at least deal with them), a good one will have an excellent sense of what market value is, can put it in the established sales promotion stream, network with other brokers (who often have clients that have them looking for a boat, and won't look at yours because there's no commission potential). Most important, they don't have sentimental attachments that cloud their judgment of what something is going to fetch. Selling privately can be done, and is done a lot, but you need nerves of steel and infinite patience with the confederacy of dunces out there. I would give yourself a horizon time for selling it yourself, and then consider going the broker route. And if a broker calls enquiring about the boat, don't bite his/her head off. You may need them in the future.
5. As has been pointed out, watch out for the internet/email scams. I was selling a racing dinghy a couple years ago when a so-called buyer from Europe got in touch and wasted a lot of my time before finally dropping the scam bomb that involved accepting a third party cheque, remitting the surplus to him, blah blah blah. You can guess what I wrote back.
6. If selling on your own, know the legal landscape of title. Know what is appropriate for the buyer in the way of holdbacks subject to a satisfactory survey. Know what problems should result in your reducing the price or agreeing to repairs at your expense.
Good luck with it all.
Last edited by Diva27; 11-18-2007 at 09:51 AM.