Preparing Your Boat For Sale

Like fishing, there are two approaches to selling a boat: a blind optimism that a "big one" will take the bait in time for supper is risky business. A careful consideration of just what kind of bait and lure will work usually pans out best. Success depends not only on price, but also on appearance, condition and seaworthiness, so take a long, critical look at your boat and be honest about the things that need to be spruced up or fixed. Decide whether to make repairs or reduce the price accordingly. Check classified ad listings in your local paper to see what similar boats are selling for. And, check used boat price guides found at boat dealerships and in the reference section of some libraries. Based on loan pay-off amount, if any, improvements you may have made and your desired profit, establish a minimum price you are willing to accept for your boat. Many sellers set the asking price 10-15% higher than rock bottom so there's room for negotiation, but be prepared for the "hard-bargain" who offers half what you're asking. And, keep in mind that when it comes to used boats, it's a buyer's market.