I am considering selling my Hunter 340. Haven't made up my mind yet. I'm trying to think through the best process for doing so should I decide to sell. The boat is on a Lake in mid-Missouri. Should I: 1. Do "Want Ads" in the local metro paper? 2. How successful has anyone been listing a boat on HOW or any of the other net "For Sale" boards? 3. When do I go the broker route? There is a Hunter dealer at my lake who seems to sell (broker) more used boats than he sells new. When should I go that route and how is the commission structure generally based? Just looking from some advice. Thanks in advance. Wynn Ferrel S/V Tranquility
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Speaking for HOW
...since a good number of the folks who sell boats here are no longer on the site. There's no way for us to know for sure, but this time of year someone tells they sold a boat on the site about every 7-10 days. There are, of course, people who never tell us. We most recently sold a 42 and have had boats sell in less than a week. Naturally, not everyone who tries is successful. But, used boats are hot right now because almost all builders have a along backlog. I heard yesterday that a Caliber order today will deliver in September of *2001*!! Out in our neck of the woods a broker gets 10%. That can sometimes be negotiated. 10% is a a lot of money, but they often do a lot of work for you, too. If you sell yourself be prepared to spend time and money adfvertising, showing, negotiating, closing, and transacting the deal. For 10% a broker will do most or all of that for you. Curious: are you considering a move up or a move out?
...since a good number of the folks who sell boats here are no longer on the site. There's no way for us to know for sure, but this time of year someone tells they sold a boat on the site about every 7-10 days. There are, of course, people who never tell us. We most recently sold a 42 and have had boats sell in less than a week. Naturally, not everyone who tries is successful. But, used boats are hot right now because almost all builders have a along backlog. I heard yesterday that a Caliber order today will deliver in September of *2001*!! Out in our neck of the woods a broker gets 10%. That can sometimes be negotiated. 10% is a a lot of money, but they often do a lot of work for you, too. If you sell yourself be prepared to spend time and money adfvertising, showing, negotiating, closing, and transacting the deal. For 10% a broker will do most or all of that for you. Curious: are you considering a move up or a move out?
Thanks for the advice, Phil.
My reasons for selling are personal - I would be selling out --- BUT on come a better day, I'd be back in. However, it MAY not come to that. Just trying to consider my options. Wynn
My reasons for selling are personal - I would be selling out --- BUT on come a better day, I'd be back in. However, it MAY not come to that. Just trying to consider my options. Wynn
Personal Experience
I had a Catalina 22 that I tried to sell via Web listings. After 90 days I had not had a nibble. Finally sold it to a co-workers husband. I do have to confess that the boat was not sailable, i.e., damaged but my asking price was $100 (yes,one-hundred buckaroos). I threw in a set of sails, all the repair stuff I had bought (glass, resin, etc.), a grinder and all the boat's hardware. (BTW the guy didn't take the grinder--had one of his own.) I decided Spring was the best season to sell boat so I listed it in January '99. Sold it in March '99 (to a husband of a co-worker). I finally started to receive inquiries in late April '99 from web sites. Continued to get offers until November. One pain has been getting the ad off all the different web sites. Most had some disclaimer that the ad would run for x months. I found that wasn't true. I have had to request removal from the sites. The most surprising one was a site that charged. I selected a three month listing and found the listing was still there after nine months. Also, tried to get aggressive and chase down boat wanted ads. Found most of them to be old, i.e., yea, I bought a boat a couple of months ago. Good luck.
I had a Catalina 22 that I tried to sell via Web listings. After 90 days I had not had a nibble. Finally sold it to a co-workers husband. I do have to confess that the boat was not sailable, i.e., damaged but my asking price was $100 (yes,one-hundred buckaroos). I threw in a set of sails, all the repair stuff I had bought (glass, resin, etc.), a grinder and all the boat's hardware. (BTW the guy didn't take the grinder--had one of his own.) I decided Spring was the best season to sell boat so I listed it in January '99. Sold it in March '99 (to a husband of a co-worker). I finally started to receive inquiries in late April '99 from web sites. Continued to get offers until November. One pain has been getting the ad off all the different web sites. Most had some disclaimer that the ad would run for x months. I found that wasn't true. I have had to request removal from the sites. The most surprising one was a site that charged. I selected a three month listing and found the listing was still there after nine months. Also, tried to get aggressive and chase down boat wanted ads. Found most of them to be old, i.e., yea, I bought a boat a couple of months ago. Good luck.
Depends on broker
A few years ago, we listed a 22 with a broker without thinking about what he'd do for us. He did absolutely nothing - didn't even put a "For Sale" sign on the boat. Admittedly, the boat wasn't worth much. Back then, their commission was 10% with a $500 minimum. This year, that minimum has gone up to $1250. On the other hand, we just bought a used boat through a broker last month and he did tons of work, phone calls and running around for us. One day after we posted our 25' Hunter for sale on HOW, and on 2 other web sites, someone came along (who hadn't seen the ads) and made an offer. Our 22' took 2 years to sell. The Hunter 25' took 1 day. So you never know how things are going to work out. I agree with the previous post about web-sites tending to leave postings on line. I know of several boats in the Great Lakes area which are still listed for sale, and which sold last fall. I'd check out your neigborhood brokers, talk to them about their terms and what they're plans are to sell your boat. Good luck John Goacher s/v Perennial
A few years ago, we listed a 22 with a broker without thinking about what he'd do for us. He did absolutely nothing - didn't even put a "For Sale" sign on the boat. Admittedly, the boat wasn't worth much. Back then, their commission was 10% with a $500 minimum. This year, that minimum has gone up to $1250. On the other hand, we just bought a used boat through a broker last month and he did tons of work, phone calls and running around for us. One day after we posted our 25' Hunter for sale on HOW, and on 2 other web sites, someone came along (who hadn't seen the ads) and made an offer. Our 22' took 2 years to sell. The Hunter 25' took 1 day. So you never know how things are going to work out. I agree with the previous post about web-sites tending to leave postings on line. I know of several boats in the Great Lakes area which are still listed for sale, and which sold last fall. I'd check out your neigborhood brokers, talk to them about their terms and what they're plans are to sell your boat. Good luck John Goacher s/v Perennial
So called hot used market
Proposal has been listed for sale since September and there have only been 2 offers. Both were very low compared to the initial asking price. I've listed with a larger Hunter broker who has a central location. The boat is listed on a number of internet sites (Including HOW) and BUCNET. I thought the price might be too high but it is comparable to other that are for sail. Still everyone talks about this hot used boat market. Frankly, I don't see it at the 26 foot end of the pool. Mark
Proposal has been listed for sale since September and there have only been 2 offers. Both were very low compared to the initial asking price. I've listed with a larger Hunter broker who has a central location. The boat is listed on a number of internet sites (Including HOW) and BUCNET. I thought the price might be too high but it is comparable to other that are for sail. Still everyone talks about this hot used boat market. Frankly, I don't see it at the 26 foot end of the pool. Mark
Hot over 30'
I guess it depends on your sailing area, but I've been told by two boat brokers in the Toronto area that boats 30' and larger are selling very well. In fact, people are getting on waiting lists for new boats coming out of the factories. But, under 30' there is very little interest in used boats. Maybe it's a twist in market psychology, or maybe it's due to the improved economy.
I guess it depends on your sailing area, but I've been told by two boat brokers in the Toronto area that boats 30' and larger are selling very well. In fact, people are getting on waiting lists for new boats coming out of the factories. But, under 30' there is very little interest in used boats. Maybe it's a twist in market psychology, or maybe it's due to the improved economy.
use a broker.. hundred bucks..
Cat 22 ain't that bad.. winches, sheets, etc.. Probably your price was too low. I have for the past 5 years used brokers for 3 boats.. fast sales. now I have still 2 boats.. Brokers know the local markets better than bucnet. PS.. I am not a broker and have no affiliation or association with one. It works. Jim
Cat 22 ain't that bad.. winches, sheets, etc.. Probably your price was too low. I have for the past 5 years used brokers for 3 boats.. fast sales. now I have still 2 boats.. Brokers know the local markets better than bucnet. PS.. I am not a broker and have no affiliation or association with one. It works. Jim
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