7 Step process to selling a boat.
This month we are going to take you through our 7 Step process to selling a boat.
The end of the boating season is coming now so many people are thinking of selling their boat.
Selling your pride and joy is not an easy task and will take some work on your part.
Boats are high priced items and buyers expect a lot for their money.
So, here we go then, the 7 Step process to selling your boat fast.
Step 1. Preparing your boat for sale
If you are serious about selling your boat you must start by cleaning it and making sure it is well presented. I can't stress how important this is and it often makes or breaks a sale. Be smart and make this your very first job. Your hard work now will pay off in hard cash later.
Step 2. Paperwork
Make a detailed inventory of your boat and find all the paperwork relating to it. This may be registration, boat safety certificate, repair invoices, license etc.
When making your inventory of equipment that will remain with the boat write down the make and model of equipment. Type the inventory into your computer so you can email it to potential buyers. It's amazing how many people don't do this!
Step 3. How to deal with faults and repairs
If your boat has any major faults that may need repairing by a potential buyer write them down and get a quote for each fault to be repaired.
Disclosing faults and the cost of repair to potential buyers is a must. You will increase your chances of a sale and if you already know the cost of repairs you can set your sale price to compensate.
Remember that a potential buyer may perceive the cost of a repair to be very high and not buy when the actual cost may be low.
Step 4. Pricing your boat.
Set a realistic sale price and be prepared to negotiate on this price. Look at the prices of similar boats to yours to get an idea of what the market is prepared to pay. If you pitch your price to high you will have trouble selling, pitching to low and buyers may think the boat has some serious faults. Try to get somewhere in the middle.
Step 5. Advertising and marketing
Now we have to think about advertising your boat so we can get as many qualified buyers as possible to view your boat. It's very important that you get qualified buyers so you don't waste your time showing people your boat that do not really have any intention of buying. Many people just want to see what the inside and outside of your boat looks like to get an idea of what type of boat they might want to buy. This is at the expense of your time and effort so we need to qualify buyers who are really interested.
The new website called Boat Video Adverts (www.boatvideoadverts.com) show potential buyers your boat using full motion video directly from your advert so eliminating those that just wanted to waste your time. This gives serious buyers the opportunity to look at your boat in great detail before coming for a viewing. You can really qualify your buyers by using video within your advert. Take a look at the website.
Of course, you do not want to keep all your eggs in one basket so we encourage you to advertise in as many places as possible to get the best possible exposure for your boat. Here are some links to other websites that you may want to advertise with. Remember that it will be more difficult to qualify your buyers with other advertising sites but you could always include a link to your video advert in your replies to enquiries if you decide to use the video advert website. This will help you qualify leads from other sites
http://www.boats-for-sale.com
Offer free online picture advert for around 8 weeks. Magazine adverts from £40 (Boat Trader) and £120 (Boats & Yachts For Sale)
http://www.boatsandoutboards.co.uk
Offer free online picture advert for around 6 weeks. Magazine advert from £30 (Boats Weekly)
http://www.apolloduck.co.uk/
Offer free online picture advert or featured online advert with 12 pictures for £34.95
http://www.ybw.com
One month online with 10 pictures + single picture advert in magazine from £98
One month online with 10 pictures + text only advert in magazine from £23.48
www.boatvideoadverts.com
Video Advert from £59.99 for 3 months £99.99 for 6 months. Also FREE Photo advert for 3 months.
Step 6. Viewings
Interested buyers will want to take a closer look at your boat and this is an ideal opportunity for you to really make that sale. It is worth qualifying them when they contact you to arrange a viewing. Ask them what advert they saw and have they seen the online video advert if you have one. If they have, you have a good chance that they are interested enough to travel for a viewing. You could also ask them some other questions to qualify them such as are they in a position to buy now, how long have they been looking and is this there first boat or are they upgrading? If upgrading there is a good chance they have money from the sale of there last boat.
On the day of viewing make sure you arrive before your viewers and take the time to ventilate the boat and have a quick tidy up. Have all your paperwork with you and a copy of the inventory and maybe some photos for them to take away. If you have facilities for making a hot drink on the boat offer your viewers a drink, remember, you have qualified these viewers as good potential buyers so make them feel welcome and comfortable.
Before your viewers leave, ask if you can take there contact number. The reason for this is so you can contact them later if you decide to lower the price or for any other reason. Previous viewers sometimes do not get back in touch with you because your price was just out of their reach. If you decide to reduce your price and do not have there contact details you could lose a possible sale.
Step 7. Making the sale
When you receive an offer on your boat be prompt in replying. If the offer is acceptable you should draw up a Bill Of Sale ready. You can download an example Bill Of Sale
If the offer is subject to a survey be flexible in allowing the survey to be completed. Never refuse a survey, the buyer will almost certainly pull out of the sale. If the offer is subject to a survey be prepared to move on the sale price if problems are found by the surveyor. Remember that the cost of the survey and costs of moving or removing the boat from the water is the responsibility of the buyer.
If all goes well you should make sure that all money has cleared before handing over the boat to the new owners.
There you have it, a simple 7 step process to selling your boat fast.
If you are serious about selling your boat then I'll let you into a little secret. Remember this and you will not go far wrong.
When potential buyers are looking for a boat they want ALL the information NOW. They want it ALL NOW so they can make an informed decision whether to take the time to view in person. A single photo and 50 words of text in a magazine or online advert just can not give them ALL the information they need to make that all important decision.
Don't lose these buyers; give them everything they want by either using a video advert, or as much information as you can in your on-line and magazine adverts.
You can never give to much information and by doing so you qualify your buyers and will not waste your time and theirs.
We hope this has helped you if you are thinking about selling your boat.
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© 2005. Living On Boats.
www.livingonboats.co.uk
Martin Chinery has lived on boats for over 7 years. He writes articles for and runs the Living On Boats website.
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'Bargain Basement'
I often look around for boats that are for sale at a reasonable price and could make a suitable liveaboard boat. It is surprising what you can find so I thought I would feature one vessel in each edition of the newsletter to show what can be found. I'll call this 'Bargain Basement' and see what little jems we can come up with.
This months 'Bargain Basement'Static Houseboat on secure mooring very close to London
Rare opportunity. Purpose built 58 foot by 11 foot static luxury houseboat on permanent friendly secure gated mooring. On Grand Union Canal at Hayes. 1 mile J3 to M4 West London. Heathrow 10 minutes.Large patio-sundeck,all day sunshine. Double glazed all round,steel-pontoon, totally weather proofed cladding all round.
Roof has been professionally treated with 3 coats Isothane-elastomeric-membrane on 14 september,06. Top box,8x4x4,for storage.
Newly decorated and refurbished to a high standard throughout.
Master Bedroom. light and airy,two large duble-glazed windows with lined velvet curtains. king-size bed,built in storage, fitted mirrored wardrobes,four double brass electric points. TV aerial. Nice carpet, ensuite bathroom with jucuzzi, and power shower beautifully hand crafted tiles, handbasin with storage underneath, heated electric towel rail.
Fully fitted Kitchen, washer dryer, fridge freezer, dish washer, mircowave, electric cooker and hob, extracter unit, wine racks, toaster, blender,kettle,breakfast bar with 4 bar chairs, 8 storage cupboards, 3 brass double electric points, dimmer switches throughout.
18 foot Large through lounge fully carpeted, nice 3 piece leather suite, 16 brass power points, Tv aerial, Plus satellite system. Beamed ceiling, lined velvet curtains on brass rails, 8 foot headroom throughout boat.
Mains water, mains electric, BT phone line, Sky TV, security system, nice neighbours, quiet friendly moorings.
All moorings and license fees are paid up to August 2007, boat compliance certificate dated till 2008.
Family lived here since 1996 when boat was 1st constructed, never lived anywere nicer in London England. Tesco 24 hour shopping 5 minute walk, easy parking.
Everything a very nice one bedroom flat has got, and lots more. Ready to move straight into. All fixtures and fittings, furniture,curtains, carpets patio sunbeds deck-chairs, E.t.c, are included in the sale,plus 2 cannoes.
Asking price. £95.000. Early viewings recommeded.
You would not get a house or flat in this area for anywhere near this price, and I guess it would not be in such a nice waterside location! This could be a great buy for someone that needs to be in the Capital and comes with one of those very hard to find moorings. You would need to check the boat can stay on the mooring and sign a new mooring agreement.
