My wife and I (78 and 75 y.o. respectively) are talking about finally giving up our boat. Maybe end of this season or if not, most certainly end of next. Have not bought or sold a boat now for 29 years, so really out of touch as to how to best go about it. Anyone have any experience to share. Our location is CT, LI Sound.
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- Thread starter odaydokay
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If selling by yourself, craigslist.org seems to get readership. I sold two boats through it in NYC area. You do have to screen replies for serious buyers and not get emotional about the process. A broker might get you a higher price for certain boats, but you have to decide if the difference is worth the commission.
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FACEBOOK market place
Craigslist.org
sailboatlistings.com
FACEBOOK market place
Craigslist.org
sailboatlistings.com
I have used Sailboastlistings.com.
More importantly I used the sale of my last boat as a learning experience. The buyers were thoroughly reliable but I wanted to learn. I was going to ask for a Bank cashiers check but recent on-line info said there was a risk here. I talked to several banks as to the best way to complete the sale. Some said wire transfer - but I learned that this was not instantaneous or guaranteed. My final plan was to talk to the buyers and ask what bank they were going to draw the cashiers check on. Then I was going to open an account at that bank. When I got the cashiers check, the bank could verify that check immediately as valid. Then I could deposit the check, wait one day and close the account with the funds.
Comments?
More importantly I used the sale of my last boat as a learning experience. The buyers were thoroughly reliable but I wanted to learn. I was going to ask for a Bank cashiers check but recent on-line info said there was a risk here. I talked to several banks as to the best way to complete the sale. Some said wire transfer - but I learned that this was not instantaneous or guaranteed. My final plan was to talk to the buyers and ask what bank they were going to draw the cashiers check on. Then I was going to open an account at that bank. When I got the cashiers check, the bank could verify that check immediately as valid. Then I could deposit the check, wait one day and close the account with the funds.
Comments?
I think the list of on-line sites is pretty good. A few other ideas…
1) local marinas bulletin boards
2) local newspaper classified ads
3) Yacht clubs, sailing clubs, etc….word of mouth or websites if they have them
I sold a boat and bought a boat without a broker. both transactions went pretty well. But be aware of offers to purchase, over pay and send money for transportation.
On the boat I purchased, we agreed on a price and a date to close…I was originally asked to bring a check made out for part of the price, but made out to a bank, and the balance made out to the seller because he had a loan that needed to be paid off. A week before we were going to close, he called and said he had paid off the loan, so just bring a check for the full amount made out to him.Cool I thought, 1 less thing to worry about.
But the date we closed, I met him at his bank and no one looked very happy….turned out the sellers wife paid off the load, but had mailed a paper check and it had not show up at the bank yet…
So I left them to figure out what to do, and I went and sat on my new boat (that I didnt own yet). They called me with a plan…..cash my check at my bank (that had a branch in his town), pay his bank off in cash (that way the bank would release the lien), and he would keep the rest of the cash and cancel his check his wife had sent via snail mail.
Seemed fetched, and I had no idea if my bank would cash a $23k check…. I had the seller sign the sales paperwork I he back of the bank, he went up and cashed the check the check and carried the cash in a brown paper bag. He asked me if I wanted to carry it back to his bank…and I said nope….you have been paid. If you get robbed on the way to your bank, I still own the boat. But I won’t let you far out of my sight !
We got to his bank, he counted out the cash to pay off the loan (looked like a drug buy), the bank released the lien, I got the title, and everything worked out just fine
So, private sales can be done, especially for smaller, less expensive boats.
Greg
1) local marinas bulletin boards
2) local newspaper classified ads
3) Yacht clubs, sailing clubs, etc….word of mouth or websites if they have them
I sold a boat and bought a boat without a broker. both transactions went pretty well. But be aware of offers to purchase, over pay and send money for transportation.
On the boat I purchased, we agreed on a price and a date to close…I was originally asked to bring a check made out for part of the price, but made out to a bank, and the balance made out to the seller because he had a loan that needed to be paid off. A week before we were going to close, he called and said he had paid off the loan, so just bring a check for the full amount made out to him.Cool I thought, 1 less thing to worry about.
But the date we closed, I met him at his bank and no one looked very happy….turned out the sellers wife paid off the load, but had mailed a paper check and it had not show up at the bank yet…
So I left them to figure out what to do, and I went and sat on my new boat (that I didnt own yet). They called me with a plan…..cash my check at my bank (that had a branch in his town), pay his bank off in cash (that way the bank would release the lien), and he would keep the rest of the cash and cancel his check his wife had sent via snail mail.
Seemed fetched, and I had no idea if my bank would cash a $23k check…. I had the seller sign the sales paperwork I he back of the bank, he went up and cashed the check the check and carried the cash in a brown paper bag. He asked me if I wanted to carry it back to his bank…and I said nope….you have been paid. If you get robbed on the way to your bank, I still own the boat
. But I won’t let you far out of my sight !We got to his bank, he counted out the cash to pay off the loan (looked like a drug buy), the bank released the lien, I got the title, and everything worked out just fine
So, private sales can be done, especially for smaller, less expensive boats.
Greg
Similarly, at my last boat sale, I met the buyer at his bank. He had a bank check cut for the purchase and handed it to me in exchange for the paperwork. I was comfortable with a bank check I saw him get and, in fact, a bank officer notarized the forms.
jssailem
SBO Weather and Forecasting Forum Jim & John
- Oct 22, 2014
- 21,845
Another idea. In some locations there are non profit groups that acquire boats. Some expect a donation. Others offer shared money and donation arrangement.
I bought my boat from a non profit in 2015.
I bought my boat from a non profit in 2015.