Do you own an outdated boat, or maybe you’ve just grown out of your old boat? Selling a boat can be a big decision, and it comes with its own set of complications to navigate, such as current economic conditions, paperwork, and advertising.
In this guide, we’ll break down how to sell your boat successfully and avoid common pitfalls along the way. Before you start advertising your boat or meeting with potential buyers, there is a list of steps you can follow to sell your boat privately.
Tips To Prepare Your Boat For Sale
If you’ve decided to sell your used boat, then the first step is to prepare your used boat for sale. You can sell a used boat without any hassle as long as it is well-maintained. It’s similar to selling a house or a car; if it’s clean and well-kept, buyers will flock in. Here’s how you can make your boat appealing to buyers:
- Thoroughly clean the boat: Wash and wax the exterior, and scrub the interior, including hidden areas like storage compartments and fish boxes.
- Remove clutter: Take out any extra gear to make the deck, cabin, and storage areas feel more spacious.
- Disinfect all surfaces: This helps your boat feel fresh and show-ready for in-person viewings.
- Fix cosmetic issues: Repair minor damages like scratches, worn seats, or faded paint.
- Tune up the engine: Double-check that the engine runs smoothly and address any mechanical problems.
- Check the trailer (if applicable): Make sure the trailer is in good condition, with working lights and properly inflated tires.
- Organize service records: Have maintenance records ready to show buyers your boat was well cared for.
Highlight Your Boat’s Best Features on Camera
Before you can start advertising your boat, there is one crucial step: taking pictures and videos of your boat to list it for sale online! Good lighting is very important when taking pictures or videos: try to capture your boat from the best angles in natural light and an uncluttered spot. You will get better visuals when there is no harsh sunlight, so it’s better to shoot in golden hour or at sunrise. You don’t need to hire a professional photographer for the job. If you have a good camera or an iPhone (smartphones with great cameras work too), you can take the photos yourself.
Consider shooting a walk-through video of your well-cleaned boat, describing its various aspects so buyers can get a feel for its condition and layout. Remember, the better the visuals, the more likely you are to attract serious buyers for your boat.
How Do I Determine My Boat’s Actual Value?
Ready to set up an online listing for your boat? But wait, you don’t know how to price your boat. This is a common confusion that can occur if you don’t have experience in selling boats. Some important factors that determine the value of your boat are:
Size, Age, Model & Current Market: The size, age, model, and current market prices all play a big role in how much your used boat is worth. Larger boats and newer models usually sell for more, while older or smaller boats may go for less.
Classic vs. Modern Boats (Type of Boat): Valuing antique or classic boats can be more complex than pricing newer models, depending on factors such as the boat’s history, condition, and originality.
Online Tools: The actual condition of your boat may not be reflected in guide prices since NADA guides usually calculate resale values based on nationwide data gathered from dealers, which is updated every two months. So, it is a good idea to compare prices online, in magazines and on broker websites too.
Geography Counts: Boats often sell for more in high-demand boating regions as compared to regions with little to no boats, so keep this in mind when pricing your boat for sale.
Water Type Use: Freshwater boats have higher resale value because they experience less corrosion and wear than saltwater boats. Buyers will automatically assume that freshwater boats are well-maintained and in better condition.
Seasonal Demand: Spring and summer have more active boat buyers than fall or winter, as warmer weather means people want to spend more time on the water during boating season.
Get Your Boat Seen: Sell It Online
Wondering how to sell an old boat? Long gone are the days when people relied on newspapers and magazines to sell their assets. Nowadays, everything can be sold online in just a few clicks. Many websites allow you to list your boat for sale, for a fee or without. The best way to sell a boat online is to try marketplaces like Facebook Marketplace, Kijiji, YachtWorld, and eBay.
If you want to make an extra effort, you can also advertise in magazines or newspapers, or hang a “For Sale” sign on your boat, just make sure it’s in a high-visibility area, such as a marina, where it might catch a buyer’s eye.
Checklist: Info Required to Sell Your Boat Online
- Boat Specifications: Length (LOA), beam, draft, weight, model, and year.
- Condition Details: Overall condition, any recent repairs or upgrades, and maintenance history.
- Features and Equipment: List all features, optional upgrades, and equipment onboard, including brand names and model numbers.
- Engine Information: Make, model, hours, and any recent engine work or tune-ups.
- Electrical System Details: Describe the boat’s electrical setup.
- Photos and Videos: Clear, well-lit images and walkthrough videos showing the boat inside and out.
- Boat History Report: If available, providing a report can increase buyer confidence.
- Price: A realistic asking price based on market research.
- Contact Information: How buyers can reach you easily.
An eye-catching advertisement includes visually appealing pictures of your boat paired with a detailed and comprehensive description. Having all this information ready makes your listing detailed, trustworthy, and appealing to potential buyers.
Tip: For both buyers and sellers, it’s a good idea to get a survey report. Buyers used to buy these reports, but now sellers often share them upfront. Having this report ready can help you sell your boat faster.
How to Show Your Boat and Handle Sea Trials
Now it’s finally time to show your boat to potential buyers. Keep in mind that honesty is always the best policy. If you lie about something related to the boat and the buyer finds out later, you could end up losing the deal you made on your boat. Some other tips are:
- Know your boat inside and out before starting any conversations.
- Respond to buyers quickly, and be polite and friendly in your communication.
- Understand what buyers want and engage them in conversation.
- Be ready to negotiate and go back and forth on the price a few times.
- Know your absolute lowest price before dealing with buyers.
Good communication, professionalism, and a clean boat will help build trust and sell your boat faster. You might have to take the boat for a sea trial if the buyer requests, so be prepared for that as well.
Selling A Boat With Proper Documentation
Selling a boat in Canada requires paperwork like the boat title, proof of ownership, and a bill of sale. Most provinces require transferring the boat’s registration to the new owner if the boat is registered. Selling a small boat for cash usually only needs the title signed over to the buyer, but if the price of the boat is higher, there will be more paperwork involved.
Trailer ownership transfer is also necessary if selling a boat with a trailer, to avoid liability. Provinces like Ontario have specific forms and processes for boat ownership transfer, often handled by the Ministry of Transport or a similar authority.
Final Thoughts
Selling a boat privately can feel overwhelming, but with the right preparation and approach, it doesn’t have to be. Start by setting a fair price, gathering all necessary documents, and creating an honest, detailed listing with great photos. Whether you choose to sell privately, through a broker, or on online marketplaces, following these steps will help you sell your boat quickly and smoothly. Happy selling and smooth sailing ahead!
FAQS
How can I sell my boat fast?
Selling your boat quickly depends on how well you advertise and present it. Listing it on multiple platforms increases visibility and speeds up the process. Pricing your boat slightly below market value can also attract more buyers. Make sure to clean and stage the boat so it looks great in photos and in person. For more detailed tips, follow the steps outlined in this blog.
What is the best way to sell my boat?
The best way to sell your boat is to leverage online marketplaces such as Boat Trader and boats.com. Clean your boat and prepare it for sale. Take good pictures and videos to go with your advertisement to attract buyers and sell your boat quickly.
How do I transfer ownership of a boat in Canada?
To transfer ownership of a boat in Canada, the new owner must update the Pleasure Craft License within 90 days. The seller signs the back of the current license and gives it, along with a bill of sale, to the buyer. The buyer then applies online through the Pleasure Craft Electronic Licensing System (PCELS) or by mail, submitting the license number, bill of sale, valid ID, and a clear side-view photo of the boat. While waiting for the updated license, they should carry the bill of sale onboard as proof of ownership.
How long does it take to sell a used boat?
Usually, it takes 8-12 weeks to sell a used boat, but it also depends on the season. More people are looking to buy boats in the spring and summer seasons instead of winter. If the price of a boat is high, it can take even longer to sell.
How to determine your boat’s value?
Factors such as age, size, condition, features, and current market demand determine your boat’s value. Check similar listings or use online pricing tools to get an estimate.
Should I sell my boat on Craigslist?
If your boat is priced under a certain amount, like $5,000, Craigslist can be a good option. Just keep in mind that you’re competing for attention with many other listings, not just boats. Try selling your boat on a marketplace dedicated just to boats.
Do you need a bill of sale to sell a boat?
No matter where you’re located, it’s always a good idea to write up a formal agreement and have all parties sign it. In Canada, to ensure a safe and legal boat sale, both the buyer and seller must have a bill of sale issued by Transport Canada. This official document serves as the boat’s title deed and outlines the transfer of ownership, including details about the vessel’s previous owners.
When is the best time of year to sell my boat?
Most people search for boats to buy online in spring and summer, so these are the best times to sell. However, because many boats are listed then, competition is higher. In winter, fewer boats are for sale, so your boat might stand out more even though fewer buyers are looking.
How much does a boat broker charge?
In Canada, yacht brokers charge a commission of about 10% of the yacht’s selling price. This fee covers their services, like marketing, negotiating, and completing the sale. The commission is shared between the seller’s broker and the buyer’s broker, often split evenly or with a 60/40 split.