Timing is key
As sailing is very much a fair weather pursuit in the UK, the boat sales market doesn’t tend to pick up until spring is well on its way. This means that the dreary winter months are the best time for you to prepare your boat for resale, undertaking the necessary cleaning and repair work to ensure she’s looking her best come March or April.
Cleaning and repairs
Prospective buyers will be interested in both the operational condition and the aesthetics of your boat so both will need to be given your full attention.
You’ll need to ensure that each piece of equipment is in good working order, from the engine to any exterior lights and other features. It’s worth testing and re-testing the equipment and fixtures you’ll want to demonstrate to prospective buyers to ensure that everything works smoothly first time.
Your boat will also need to be thoroughly cleaned and polished both inside and out. It’s worth investing in professional valeting products which are suitable for marine crafts for this purpose.
Devoting time and attention to improving the appearance of your vessel will really help make it stand out in a crowded market place and could improve its resale value by thousands of pounds.
Ensure your paperwork’s in order
You’ll need to make sure that you have the following documents in order before you begin negotiations with a prospective buyer:
- Declaration of conformity with EU Recreational Craft Directive
- A CE mark for boats bought outside the EU
- The sales invoice for your original purchase
- The craft’s operational manual
- The full service history, including receipts for any work undertaken
- A Boat Safety Certificate (for canal boats)
- British Waterways licence (for boats which use inland waterways)
- A current radio licence for your VHF radio.
Obtaining a valuation
When it comes to ascertaining the market value of your boat, it’s critical you do your research thoroughly. There are a wealth of sources of information out there, both online and off, including specialist magazines like Boat Trader and professional brokering services for every imaginable type of craft.
Obtaining a valuation from a range of different brokers will enable to you get a clear picture of your boat’s value and their expertise will help you to form realistic expectation of what you’re likely to get.
Advertising and selling
Once you’ve decided on an asking price, you can then opt to advertise your boat privately in specialist magazines or websites or leave the selling to a professional broker.
There are pros and cons to both options. A broker may be able to use their contacts to get you a quicker sale at a better price but a private listing enables you to handle negotiations yourself and saves you paying a broker’s fee.
If you’re undecided about which route to go for, it may be worth speaking to other boat owners to see if they have any tips or advice for you.