You know the saying, “the best days for boaters are when they buy and sell their boat”. This article details the top 3 ways to accomplish that.
ON YOUR OWN
The most preferred way to buy or sell a boat is on your own. This includes, word of mouth, friends or family, or a simple “for sale by owner” sign noticed while driving by. Buying or selling a boat on your own requires more effort, preparation and knowledge. Consequently, you can save a lot of money both on the buy or sell side.
THE TOP 5 CLASSIC BOSTON WHALERS TO BUY USED
The ideal candidate for buying or selling a boat on their own is someone who already knows what they want and understands the general characteristics of what makes a boat’s condition good or bad. It is also most often utilized for smaller, trailerable boats.
THROUGH AN ONLINE SOURCE
The most popular way to buy a boat is through an online source. Examples include Boattrader.com Yachtworld.com, Boats.com, Craigslist, and Facebook Marketplace. Also, consider Lazy Locations for “The Best Boats for Florida“.
The main advantages of using an online source is it’s super easy and free (sellers pay a minimal listing charge). It’s also great for familiarizing yourself with pricing as well as leveraging your time or reaching a large audience. Furthermore, online sources are a great way to find what you want and then complete the process through a broker if that’s more comfortable.
THROUGH A BROKER
The optimal way to purchase a large boat (i.e. over 30 feet) is to use a broker. Brokers have access to a network of pre-owned boats and will pair their expertise with other essential services in order to make the buying (or selling process) easy. Examples of essential services are mechanics, detailers, insurance companies, registration and the marine survey. However, all this comes with a cost. The typical commission boat brokers charge is 10% of the selling price. That cost is paid by the seller much like a real estate transaction.
THE BIGGEST MISTAKES PEOPLE MAKE WHEN BUYING A BOAT
SHOULD YOU USE A MARINE SURVEY?
Marine surveys are highly recommended and often required for larger boats. In my opinion, boats that are smaller tend to be simple and easy to review. Usually, all that’s needed for smaller boats is a visual review, test ride and maybe the help of a mechanic.
The larger boats tend to have multiple motors, lots of wiring, more internal parts, through-hull fittings, cabins and inboard motors and generators. In addition, larger boats often stay in the water for extended periods of time. That alone, will create additional issues that a marine surveyor can spot. Consequently, a professional marine survey is highly recommended for large boats.
