There’s a reason shops invest money in how they display their goods, the presentation can make or break a sale. When trying to sell your boat, you can enhance the chances of finding a buyer by putting on your marketing hat. You might also clinch a better deal with a top-dollar price. There are many factors to consider before selling your boat, all of which are crucial for a successful sale.
So, how do you go about maximising your boat’s value? Read on to find out.
Assess the Boat’s Condition
How your boat compares to others of the same type and age will be a key determining factor. Nothing can knock the wind out of your sails more than a dodgy engine or faulty electronics.
So, first, make a detailed examination of the entire boat. Buyers will often flag up flaws to use as bargaining chips in order to make you a lower offer. A boat broker can help you spot these in key areas such as the hull and deck.
Gather up all the records you have of any mechanical services or parts you have had replaced. Place these in a professional-looking folder so that you can show them off when asked.
The Importance of Cleaning and Detailing a Boat
First impressions matter. A boat that looks in need of a good clean is a real turn-off. If you can’t be bothered to make it look its best, a potential buyer is going to wonder what other aspects of the boat you haven’t cared about.
Boat detailing, polishing and waxing are part of the whole maintenance process. The brighter, cleaner and better smelling your boat is, the higher the chances you have of selling your boat.
Get rid of any clutter. Empty all lockers and remove anything you’re not including in the sale. That might include tools, cleaning supplies and fishing gear. Tidily stow away any kit you are including in the sale, such as life jackets or flare kits.
Give your boat a thorough clean getting rid of any mould. Wax, polish and use disinfectants. Pay particular attention to glass surfaces, curtains, upholstery and carpets.
A boat broker can help with advice on maximising your boat’s value. This will include cleaning and detailing so that you get the best possible photos to show your boat off.
Making Repairs and Carrying Out Upgrades
There’s a fine balance between investment in potential boat repairs and the return you might get from these on a sale. Although some repairs may not appear worth it, they can be deal-clinchers. So, you need to balance any loss of return with the chances of achieving a sale and maximising your boat’s value.
It’s well worth talking through all this with a boat broker so that you understand what’s involved. It’s always a good idea to fix small issues such as faulty lights or loose handrails.
They say the kitchen sells the home. In a similar way, the galley and saloon can sell your boat. It might be worth considering replacing outdated electronics and safety equipment. If you do, keep a record of these kinds of updates so that you can offer proof to potential buyers.
You might increase the price of your boat by a small margin if it’s well-accessorised. You can expect to get only a small percentage of the original cost back from a new boating accessory. Perhaps more importantly, could they seal the deal? If you repowered a boat with a new outboard engine in the past few years, you might get a more significant percentage of the investment back.
Clearly, more major flaws can be expensive but if you don’t repair them you may not get the sale price you’re looking for. The best person to advise you on investment and return is a boat broker. They’ll know the market and be able to help you manage your expectations.
Setting the Right Price
It’s an age-old conundrum: set the price too high and you’ll put potential buyers off but set it too low and you could be in for an unnecessary loss. Setting the right sale price is an art form. You’ll need to conduct considerable research to get it right. Key factors include:
● The mechanical and cosmetic condition of your boat
● Your ability to be able to provide proof of servicing and repairs
● Where you live
● The current climate on the boat-selling market
● Your boat’s electronics and accessories
The best way to get a steer on the price you should set to sell your boat is to consult a boat broker. They’ll help you in maximising your boat’s value under current market conditions.
Making Your Listing Effective
Great high-quality photos are real attention grabbers. These need to be backed up with a detailed description that includes accurate specifications. You need to hook buyers in and stimulate interest in your boat. That requires a lot of marketing skills. Marketing your boat is a crucial step in the selling process, one you want to ensure you get right.
A boat broker can create a portfolio suited to your boat with the intention of attracting the biggest targetted audience. There’s little point in cleaning and carrying out repairs if you can’t get your message out to the right people. Leave the hard part to the broker and you’ll greatly increase your chances of a successful sale.
Always Use a Boat Broker
Boat brokers are a bit like match-makers. They know the market, they understand what sells and they’re used to negotiating with potential buyers. It’s in their interest to sell your boat at the best possible price. Here’s how a boat broker can help:
● Giving you access to a network of potential buyers
● Accurately assessing your boat’s market value
● Taking care of the marketing of your boat
● Arranging viewings and carrying out negotiations
● Handling paperwork and legal issues
● Saving you time and hassle
● Maximising your boat’s value
Choose the Best Sydney Boat Broker
If you want to sell your boat quickly and for the best possible price, look no further than MW Marine. Your boat sale will be smooth sailing all the way. Maximising your boat’s value is integral to a boat broker’s job. Get in touch today and list your luxury boat with the best broker in the business.