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Setting the "right" price when selling your boat |
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Welcome to the first in an ongoing series of articles focusing on the many important details you should be aware of when buying or selling a boat. In this installment of OnBoard, we'll take a brief look at several points to consider when setting a selling price. The following strategies can help you get the maximum value from your boat, while minimizing the time it takes to find a buyer. Consult price guides. Price guides can serve as useful tools in determining the fair-market value of your boat.
The most popular of these are the NADA, BUC and ABOS guides. BUC (www.bucvalu.com) offers a free online valuation tool, which allows you to enter details about the condition of your boat, as well as information about its features and any upgrades that may increase its value. Check comparable local advertised prices. Classified advertisements in local and regional newspapers can serve as good points of reference when determining a price for your boat. Also check online classified sites. Although prices may vary by region, you can view a wide range of similar boats to get a realistic range of current asking prices. Shop the dealers. Check dealerships in your area to see how they're pricing boats like yours. Remember that dealer prices often can be significantly higher than prices advertised by private sellers. Consider the season. If you're selling your boat at the end of the season or over the winter, expect to settle for a lower price. In most cases, you'll get a higher price if you're selling your boat early in the season. |
