6 Common Hurdles That Can Stop You to Sell your Boat

Whether you’re planning to sell your boat or just want to make sure it’s priced right, I’m willing to bet you’re looking for the best way to do so. But, selling boats is never easy. There are very, very few boat sales that any party to the transaction would say that was easy.

Is it hard to sell a boat?

There are a lot of details and complexities to be worked through in all but the smallest boat sale or purchase. It’s a complicated process that gets more complex when boats are in far-flung locations in Asia.

In a nutshell, it’s more often than not hard to sell your boat, especially if your buyer or the ‘right price’ is not in Asia or where your boat is currently located.

Related post: Everything You Need to Know About Boat Broker Fees

Here are some factors that make boats hard to sell:

1. Location

If people have to travel too far to see your boat, they won’t. You’ll attract fewer buyers, UNLESS … it’s very well priced. It’s hard to find the person who is willing to travel and pay you TOP dollar for your beloved boat.

Viewings and selling the boat. If your boat is in a distant location, it will cost you money to fly the professional to your boat to represent her to a potential buyer. You can try to get the local neighbour or boat cleaner to assist you, but as mentioned before, selling a boat is complex and it’s so easy to lose your only potential buyer. Leaving them in the hands of someone who you get to ‘open the boat’ is generally not a smart move. You may find you have to spend your marketing budget all over again to find that next potential buyer.

2. Lack of information or slow response by the owner

If people won’t immediately travel to inspect your boat, a recent and detailed in-water survey being made available to them will certainly help them move forward in their enquiry and increase the perception of the boat’s price and value.

If there is no survey or well-presented maintenance records, this can seriously put off a buyer especially if they will need to travel to view your boat for sale.

An unwillingness by the owner to provide information or the owner is being difficult or unforthcoming with information may generate a perception that there is something to hide. This will make your boat hard to sell.

3. Price of a boat for sale

The price you set for your boat will determine how easily it sells (or doesn’t). If you set too high of a price, then people might not be able to afford it. If you set too low of a price, then people will think there is something wrong with the boat and won’t purchase it at all. So, make sure that you set the right price for your boat so that people will be interested in buying it from you.

4. Condition of a boat for sale

When selling a boat, you’ll need to make sure it’s in good condition. If it has an issue with its motor or hull, you’ll have to fix those before trying to sell it.

People will buy used items if they are in good condition or working order. If your boat is not in good condition or not working at all, the chances are that it won’t attract buyers even if you offer it at a very low price because they won’t want to spend money on something that doesn’t work or they need more money to repair damages.

5. Seasonal factor

The seasons affect the value of your boat more than anything else. If you’re selling during the off-season when there’s little demand, you’ll likely get less for your boat than if you were selling during boating season when there’s more demand for boats.

6. Age of your boat

Your boat’s value decreases with age. If your boat is older, it will be more difficult to sell it than if it were a newer model. Even if two boats are identical in colour and size, the newer one will always be worth more than the older one.

When selling a boat, it’s important to research for the best price. The market for boats is huge, so there are always people looking to buy one. Research and luck will help you find someone who wants to make your dream come true.

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