February 24, 2020 - Vehicles
There is a whole industry dedicated solely to boat sales. From brokers to boat-sale magazines, things can get expensive. This is why it’s recommended to use PawnGuru to sell your boat and get the most cash without the hassle!
If you’re considering selling your boat, there are a few things to keep in mind. The process of selling can be an incredibly time-consuming and costly task, so know the basics before you get started. There are some very considerable reasons to sell your boat instead of dealing with it as a financial burden.
As with most expensive luxury items, boats depreciate the moment you buy them. On average, a boat will lose 20% of its value the first year, 15% the second year, and 14% the following year. The depreciation continues this pattern during the entire time you own the boat.
Another painful statistic is a boat will typically cost about 10% of its total value to keep running each year. This means that if you own a $10,000 boat, you’ll spend at least a thousand dollars making sure it’s seaworthy. Storage charges for a boat also add up. Whether your boats in a marina-slip, yard, or on the side of the highway, attracting potential buyers is a monthly expense you can eliminate.
The ideal time-frame to sell your boat is within a 60-day range. The boat industry advises this time-frame as the bottom line. The longer a boat sits on the market, the less likely it will sell. As time goes on, the likelihood of selling your boat at your ideal price-point lowers and you might not be able to sell at all.
Boats that sit on the market for months begin deteriorating, develop mechanical issues, and become stagnant. After a few months, you’ll need to start up your engine an hour before showing your boat to prospects, just to make sure you have no inevitable engine issues.
In the past, boat owners would have to spend money on advertising and marketing to sell their boats. Placing advertisements in the classified section or boating magazines is expensive. Even buying an empty lot to place your boat in a high visibility area will cost you money to rent the space out.
Instead, you can list your boat for free on PawnGuru. The site will automatically alert pawnshops in the area of your listing. Dealers will reach out to their network-affiliates in the boat-selling industry. Anyone interested in buying your boat will have an intermediary between dealers and you. You’ll receive emails on offers from potential buyers in your area.
Using PawnGuru makes it easier and more cost-efficient. You can make one post that reaches your entire regional market! PawnGuru can even reach international docks.
Listing on other sites can also be helpful but do have some pitfalls. Auction sites, for example, require you to dispatch the boat to the buyer. When you list on auction sites, you can set the reserve for as low as you’re willing to go, but you will still be responsible for getting the boat to the buyer. Using classified sites is also problematic. There is no verified-payment and meeting up with buyers who are not vetted can potentially be dangerous.
Many boat owners looking for a cheap way to market their boat will place a sign on it and park it by a highway or another place where thousands of people drive past. There are three reasons this is not an optimal marketing schematic.
First, your boat may not be reaching your target audience—people interested in buying a boat who also have the funds to back their purchase. Also, your boat will be stored in this location unprotected. This leaves it subject to the elements and it could be possibly stolen or damaged while unattended. The alternative is renting out a spot that will cost money.
With PawnGuru, you can list your boat from any location regardless of where it is stored.
The boat-selling market often requires a broker who works on commission. Of course, since brokers receive commission they will receive compensation from the selling price. Brokers also tend to use pricing guides from BUC and NADA, which are notorious for being inaccurate. When you use PawnGuru you will have complete control over every financial decision regarding your boat.
These reasons make PawnGuru the hands-down best way to sell your boat for cash. You will be protected from illegitimate buyers, the process is simple & quick, and the funnel of buyers the site creates for you guarantee the highest offers.
You can sell your boat quickly with the best offer by listing it here free!
David Stiebel is one of the cofounders of PawnGuru. David was educated at MIT, where he studied Math. He subsequently worked at Bain as a data scientist before starting PawnGuru in 2015. He started PawnGuru to build a better tool for pawn shops and consumers to connect.More Articles