How to Sell your Boat and make a (Boat) Load of Profit
Buying and selling is as old as life itself. You can buy the right thing for which there is a demand and sell it at a profit. It all depends on how much money you have to invest or your inclination or both. Real estate is profitable when the market takes an upswing as trading in stocks. Ever heard of anyone making money selling automobiles which seem to depreciate in value? Yes they do because they are savvy. In any trade you must know the ins and outs and be knowledgeable. It applies if you are considering buying and selling boats.
Profit is the Motive
The trick of a trade and business is to make a profit and not a loss. If you are thinking to buy best used boats for sale at a profit you are on the right track. And for this you have to learn the ropes and the sails of boat buying and selling business. How much profit do you want to make? Do not expect to make whopping profits and haul in (boat) loads of cash. Think of a neat margin.
What you must know
- You must be able to assess the condition of a boat and its approximate purchase price. If you cannot, it is best to rope in an expert and be ready to pay him.
- You should be knowledgeable about repairs/renovations of boats to increase their value. Buyers will first look at the appearance and physical condition before they decide to check out engine and performance. When you refurbish it, make the boat as attractive as possible.
- Know the maximum price you can expect and the best locations that will get you immediate buyers willing to pay the price you want.
Ways to Sell your Boat
You can only make a profit if you have bought at a lower than market price and can sell at market price or higher than it, after refurbishing the boat.
The golden rule of making a profit is buying right. This means you must know which type of boat is worth buying, be able to assess its condition and get it at rock bottom price. Buying is where the profit is, said a boat trade sage.
Buy at the right time. When demand is high sellers will offer it at a higher price. When it is an off season and there are not that many buyers and the seller is strapped for cash you can make a kill buying at a low, low price.
Have patience when it comes to selling your boat. You cannot just put up ads on the internet, on craigslist, in newspaper or spread the word around brokers and expect buyers to queue up outside your door. Wait until you find him.
What do you do in the meanwhile? Let your boat rock gently on the waves? By no means.
In the Interim
- Buying, maintaining inventory and hoping to sell means you are letting money lie stagnant in the form of boats. Put them to good use.
- Rent out the boat for personalized or fishing cruises. It will stay in good trim that way.
- Offer boating and sailing lessons. You need not do it yourself. Engage someone, pay him and you still make some money.
- Transform it into a wonderful wedding venue.
- Keep on enhancing your boat’s dock appeal by painting it, adding props inside or fine-tuning the engine.
If you still do not find a buyer at your price you can strip the boat and sell of its engine and other parts. You will be surprised that the sum of parts can be greater than the whole. The hull remains. Sink it. You have a load of cash.