Boats For Sale Blog

Mar 27, 2018

3 Tips on How to Price Your Boat for Sale

 

Selling a boat is similar to selling a house. You must get the opening price right otherwise your boat listing will sit on the market gathering dust; which isn’t any use to anyone.
 

Your boat sale will only generate interest if you can hit the pricing sweet spot, but this is where the difficulty lies - price it too high and people will be put off, price it too low and people will wonder what the low price is covering up.


So how do you find the sweet spot and make sure you get the best price for your boat? Save yourself some time and money by following our three top guidelines below.


1. Think about depreciation


While boats are high-ticket items, it’s important to remember that they do not fluctuate in value the same way as cars or property. House prices tend to increase slowly over time, while cars depreciate as soon as you drive them away from the showroom. Boats are different creatures entirely, they depreciate slowly and maintain their value much longer than cars. Make sure you take this into account when you put your boat up for sale.


2. Look at similar boats for sale


To get an idea of typical market prices for your kind of boat, it’s a good idea to look at similar boats currently for sale. This way, you’ll get a feel for what price points are getting the most interest, and you can price your boat within a similar bracket.


Make sure you always look at these two main elements:


 

1.     The actual price a boat has sold for, not just the price it was listed at.


 

2.     How long it took for the boat to sell.


 

This way, you’ll be able to spot any boats that might appear to be selling at a high price but have actually been sitting around for two years and are yet to be sold.


3. What extra features does your boat have?


When you sell your boat, you’ll need to make sure that you have a well-kept maintenance schedule showing any repairs and standardised checks. This will ensure a buyer that your boat runs smoothly and is worth the value you’re placing on it.


You’ll also need to list anything you’ve paid extra for, such as equipment upgrades (technology or mechanicals) and increase the price to reflect these additions.



Don’t have time to price and market your boat? Use the Boats for Sale advanced search to identify similar boats to yours and then place an ad that will be seen by a targeted audience looking to buy a boat like yours.

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