How To Get The Best Selling Price

Lots of boat owners overlook proper preparation for the sale of their boat, and as a result the boat will take longer to sell and the seller will receive less money.

The first thing to do is strip the boat. Remove everything that is not bolted down, and I mean including the anchor and rode, those flares you haven't touched in years, the expired fire extinguisher, life jackets, tools, rags, drink holders, sunglasses, and all the other junk your boat has collected over the years.

As you remove everything from the boat, separate it into two piles: stuff that must go back on the boat, and stuff that you are keeping.

Clean and Detail the Boat

Next, clean and detail your boat. Clean it like you have never cleaned it before. Clean inside every compartment. Clean that disgusting filth out of your bilge. Clean sides and ceilings and the lips around lockers and drains. Remember: customers with mirrors and flashlights want to nose around in every compartment. There should not be a lot of stuff in there, and the interior spaces should look and smell clean.

A little mildew in a locker or a scum ring around the lip can make an otherwise clean, nice boat seem neglected and dirty.

I know, cleaning is no fun, and you just want to sell the thing anyway. Think of it this way: if you spend an extra 4 hours cleaning your boat, and you are offered $1,000 more for it because it looks so nice, you just made $250/hr. That's not bad.

Shine up the Wood, Buff the Gelcoat and Paint

If your boat has wood on it, now is the time to do something with it. See Boat Wood Finishing for more information on how to treat your boat's wood. Oil it, varnish it, use one of the new Cetol flavors, blast it with a pressure washer if you have to, but do something with the wood on your boat. Don't try to sell it with the wood looking like driftwood.

If your gelcoat or paint is oxidized, compound and wax it or treat it with Poliglow. If you are not good at doing this, hire a professional boat detailer. Shining the exterior of a boat can really upgrade the appearance like nothing else, and a few hundred bucks to a detailer who makes your boat look years younger can be money well spent.

Repair Your Boat

Third, fix your boat. There is a balance to strike here, since you don't want to spend any more money than you have to on a boat you're selling. The fastest way to lower the value of anything new is to install it on an old boat.

At the same time, if certain things are broken, it can blow the sale. A damaged rubrail, for example, can make an otherwise nice boat seem "banged up" to buyers. Don't bother trying to explain to them that rubrails are cheap. They don't want a "banged up" boat! Rubrails ARE cheap! Just replace it before you put your boat on the market.

The same goes for broken latches or hinges, frozen up valves or switches, inoperative lights, or any of the little details which don't cost a whole lot to fix, but which can make a buyer walk away.

Go through the boat from stem to stern and operate every seacock, turn on everything electrical, move everything mechanical, lubricate everything, and fix anything that is cheap and easy to fix. Remember: customers will look at anything that needs fixing and respond in one of two ways: They will either 1. decide not to buy your boat at all because all the broken things make it seem neglected, or 2. they will calculate a (generous) allowance for fixing it and subtract that amount from any offer they make on your boat. That means you either don't sell the boat at all, or you pay too much to allow the buyer to fix it. You're better off fixing things yourself before you market the boat.

If your boat has cracked and faded upholstery, buyers are going to immediately start considering the cost of new upholstery when evaluating the boat, if they don't just walk away because it looks neglected. If the canvas tops and covers are in bad shape, it's the same story. On sailboats, old running rigging is a killer. It looks awful, and buyers are once again likely to either walk away or start making generous allowances for replacement. Those types of things should be replaced before putting your boat on the market.

A Little Preventive Maintenance Goes a Long Way

While fixing things, also do preventive maintenance such as replacing rusted out hose clamps, old hoses, broken or frozen fittings, wires, switches, etc. Check all fittings and ports for leakage and rebed if needed. Be sure to use proper marine grade supplies and follow industry standard practices, or hire a reputable marine contractor. Some buyers will want to have a marine surveyor (See Sailboat Surveys and Powerboat Surveys for more information) inspect the boat as a condition of purchase, especially if they plan on financing and insuring the boat.

Marine insurance underwriters frequently require a recent survey before issuing a policy. An improper repair which does not pass survey will wind up being worth nothing, and buyers may ask for a price adjustment to do a proper repair. Also consider that if you do not know the proper materials and techniques for a repair, your efforts could one day cause the boat to sink or burn. So be sure to perform repairs properly, or hire them done by a professional.

Once the boat is cleaned and the woodwork and other surfaces look good and everything is in good working order, put back all the stuff which absolutely must be on the boat, and do it in a neat and organized way.

Don't Forget the Trailer

If you have a trailer to sell with your boat, make sure it is clean and in good working order. Clean up rusty spots and spray with cold galvanizing paint or corrosion inhibiting oil. Replace the tires if they are worn out or cracked and the leaf springs if they are badly rusted. Replace or repack bearings if needed. Make sure the winch, jackstand, rollers, lights and brakes all work.

Once the boat is prepared, make sure you have all the documents related to the boat in one place, including receipts for any work done, owner's manuals, ship's logbooks, registration, insurance info, etc. Have them all in a folder, so that a potential buyer can come to see the boat, find it clean and in good working order, and see all the pertinent records. A boat that is properly staged for showing will be much more appealing, so don't just tell customers, "I have the cushions and electronics and stuff in the garage." The boat should be clean and fully assembled when you show it. Curb appeal matters, even to buyers who say it does not. A boat that really stands out from the others on the market will always draw higher offers from buyers.