Owning something of value for a long time and deciding to part ways with it is always a very big decision. There is probably a good reason why you have kept it for all those years. It may be of great sentimental value to you, it may be something you inherited and wanted to gain more value, it may be an old investment you forgot all about. No matter what the reason for selling it is, the decision to do so and the time that follows should definitely not be taken lightly. You need to be careful and take into account many factors when selling something classic and valuable.
Now, not all things are made the same nor can they be sold as easily and as straightforward as others. For you to do things properly and come out of the deal with as much money as possible, you need to know what to do and more importantly, what not to do. The more specific the item and the narrower the market for it, the harder time you will have selling it. Even if it is a popular model and something collectors search for, there need to be proper steps taken towards ensuring that things go well.
In this article we talk about one such thing that is usually not that easy to sell, classic boats. Boats are already a very specific area and not everyone knows much about them. One has to be quite knowledgeable and experienced to even hold a conversation about them, let alone operate them correctly and own a few. Therefore, selling a classic boat comes with a huge deal of responsibility that you have to remember before and while listing it. In the following sections we give you the most important do’s and don’ts on selling a classic boat. Read on to learn more about this and be sure to check out absoluteclassics.com if you want to List Your Classic Boat.
The Do’s
As it is often customary, we start things off with the positive side of things and talk about what absolutely needs to happen when you have a classic boat to sell. There is also more do’s than don’ts so it makes sense to refer to them first.
Consult a Professional
Provided that you do not know a lot about your boat already and the general state of the industry and market, you need to get in touch with an experienced boat professional, preferably an expert on classic vessels. They can tell you a lot more about the boat you plan to list and whether or not it makes sense to do it. If they know their boats, they can also double as an appraiser and help you determine the monetary value of your boat which will surely help you earn more, or at least offer a fair price for your boat. Doing things alone if often impossible with old things, unless you are a collector and expert yourself.
Take Good Photos
It is all about great content on the internet today, both in terms of quality and quantity. When you are selling something, and we assume you will be doing it online because it is the way to do things nowadays after all, you need good photographs of the item. In the case of a beautiful antique boat, this is ever more important. The potential buyers need to see everything the boat has, which means snaps of the inside and the inside, both in the water and outside of it on the trailer. A potential buyer should not have a lot of questions unanswered when they list through the snaps. All of the things should be clearly visible and present. Good photos sell things quicker, trust us.
Honest Description
Right up there with quality of photos, and enough of them, needs to be a detailed description of the boat. You need to include its history before you obtained it, is possible, as well as all the important stuff that you did with it. Include the history of services done to it as well as repairs. Write down if any parts were changed, or if it has certain wear and tear visible. Has it received a paintjob? Make sure to mention it. Specifications and performance info are a must. You can even include its feats and milestones if it has gone through certain voyages or races. The more, the better.
The Don’ts
Now for the things you need to remember not to do. While the do’s are more important in this case and while not doing them may spell out the don’ts, there are actually things that you should never do outside of that.
Deal with a shady middleman
If you are planning to sell your boat with the help of a professional, be extra careful who to trust. We can say the same when you are selling other valuables, but when it comes to something as expensive as a boat, you must avoid illegitimate middlemen. When looking for a broker for the transaction, get one who doesn’t have any vested interests. That seems easier said than done, but it will save you from tons of headaches if the person you are dealing with isn’t a con artist. To be sure, consider asking close friends, family members, and colleagues for referrals. If you are part of a boat club, you can ask other members if they know anyone who can give you what you need.
Still, make sure you do your homework before getting the person involved. To be sure, come up with a shortlist of candidates and interview each one. However, this can be time-consuming and tedious, so the faster way is to visit a platform that helps you find buyers and close a deal within your timeline. While platforms like the Dexter Marine Group specialize in selling commercial vessels, there are websites that have helped boat sellers find interested buyers and get a good price for their assets. You are better off doing this than getting a shady salesman for the job.
Underpricing and Overpricing
Neither of these two will do you any good. First of all, underpricing a valuable classic boat will mean you will be doing yourself a disservice. Wanting to sell something quickly and be done with it is understandable, but it is no way to do business. You could be sacrificing thousands of dollars, perhaps even tens of thousands. Overpricing it will mean the boat will stay on the listings for years without anyone ever asking for it. The price needs to be fair, it needs to work both for you and the buyer.
Neglect, No Maintenance, Leaving It Dirty
These are no-brainers but they should be mentioned specifically. Many people believe that the model and the brand of the boat will do the job for them and sell it without any trouble. This is actually the case with any major selling opportunity. Not doing any effort will spell a disaster and it may even undervalue the thing you have to offer. Making sure that you give the boat proper maintenance and washing before you list it and every so often while it waits to be sold is how you keep its value. Neglecting it and letting it in the rain and sun will ruin it beyond repair. It needs to be the same as on the pictures and as close to the original, mind condition as possible.