Is the hull of your boat encrusted with barnacles? Is the vinyl seating showing signs off mildew? Has your boat been on the market since the Voortrekkers made their move north? Do interested buyers disappear into thin air after viewing your shipwreck? If you answered yes to any of these questions, then read on as we explain how to find the right buyer for your boat.
After all, the only way you can lay your hands on the sparkling new boat that you want to trade up to is by selling your current boat.
Leisure Boating identifies some of the more important facets of selling your boat.
Is the boat overpriced?
With such a glut of boats on the market, it is important to price your boat very competitively.
Realistic, market related pricing is imperative. If your boat is overpriced, you will struggle to find a buyer.
The number of buyers for a particular type of boat is often very small and when the boat is overpriced, those few buyers will decline dramatically.
If you do by some chance find a buyer at the inflated price, this buyer will invariably finance the boat through one of the major banks who will quickly pick up that the boat is overpriced and finance will be declined.
When, and if, the seller then decides to bring his price in line with market related prices, only then will the finance be approved or considered by the financial institution.
Don’t chase away the few prospective buyers you might have by overpricing your boat. Boat brokers will often accept an overpriced boat as it makes their other boats look like they are well priced and it can improve their sales figures.