Broker Rates - Survey

[Michael O'Hara]

What does a broker charge for selling your boat? What (and where) is your experience? Does the broker fee vary a lot between brokers?Michael O'

 

[Mark Johnson]

The going rate is...

10%. Thats what I paid the last time I sold a boat thru a broker. His fee was not negoiable(believe me I tried). This was a very reputable broker in Mamaroneck NY. It wasn't cheap, but he sold the boat within 3 weeks.MPJ

 

[Paul Akers]

Try yourself first

If your boat is a popular model, I would try myself first. Sometimes it hits right away. And closing the deal is not a hard thing to do. I'd give it a couple of weeks first and then try a broker.

 

[John C. Goacher]

10%

Yep, here in Michigan, 10% seems to be standard with a minimum of $500. Depending on the value of your boat, the broker might be more interested in continuing to collect the winter and summer storage fees than in selling your vessel for the commission.I'm faced with selling our boat again - time to move up - and this time, I'll try to sell it myself first.Johns/v Windbreaker

 

[Wayne Estabrooks]

Bargain Rates in NC

Yup it is 10% here in North Carolina also. A good broker works hard for the money. Sometimes several trips to show the boat and costly advertising in national magazines.

 

[Paul Akers]

If you sell it yourself...

...Sometimes the boat yard will take a commission (2%+) if you sell it from their yard while it's in storage. So figure that into the equation. When I sold my first boat, I knew about this (in the contract) but tried to hide the sale. The yard knew immediately and I ended up paying the commission.