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Buying and Selling a Boat
BUYING A BOAT If you are new to the boat buying process, we have some good questions for you to consider to get you started. With your answers to these questions and guidance from an experienced Ashley Yachts broker, you will be on your way to casting off before the next tide change. HOW DO YOU INTEND TO USE YOUR BOAT AND HOW MANY CREW WILL YOU HAVE? Answer this question considering how you will use your boat 90%-95% of the time to maximize the benefit of your decision. We will all have the special journeys, but what is realistically in your routine plans? WHAT EQUIPMENT SHOULD I HAVE ON BOARD MY BOAT? Equipping your boat can be a large part of your ultimate cost. What will you need to optimise your boating experience? WHAT IS YOUR BUDGET AND HOW DO YOU INTEND TO PAY FOR YOUR BOAT? Obviously cash seems to be the easiest way to pay for anything, however for most that is not an option. A good idea is to get pre-qualified for a loan so you can shop with a budget in mind. HOW DO I GET STARTED? From here, you should call or come buy to talk to one our experienced brokers of Ashley Yachts. Comparison is a key part of the search process. With so many decisions and variables on design, style and price, your choice in using one of our friendly, honest brokers will ease your mind. Let us consult with you in a personalized effort to make the search an educational and enjoyable experience.
Here are some points to consider when you decide to sell your boat. AT WHAT PRICE SHOULD I LIST MY BOAT? Economics 101 says the value of a boat is the price at which a buyer will buy and a seller will sell, but finding that point can be tricky. We generally use a mix of data from current market listings, comparable sold boats and NADA as a guide to come to a price. However, in some cases we will recommend variations from this data given the current model demand, condition of the boat, overall market factors and experience in selling boats in our region. HOW LONG WILL IT TAKE MY BOAT TO SELL? We have seen well priced boats in good condition sit for long periods of time and some boats better used for artificial reefs sell in a day. If a broker tells you a specific time frame, you may want to take a step back and reconsider using them. There is really no way to tell and giving an exact time frame would create unrealistic expectations. Following the guide below will enhance the chances of a speedy sale and assist in getting you the highest dollar back on your investment. WHERE SHOULD MY BOAT BE LOCATED WHILE ON THE MARKET? The best location for a boat on the market is a place where it is going to get good exposure to many potential and qualified buyers on a regular basis. While we do list boats that are not in the Charleston area, having your boat in CHarleston will help. On the east coast between fort Lauderdale and Annapolis, Charleston has more yacht brokerages and dealerships than any other city. This creates a great boating center with lots of places to shop without driving long distances. WHAT DO I NEED TO "FIX UP" TO HELP SELL MY BOAT? Assuming your boat is mechanically and structurally sound, the following suggestions will help to set your boat apart from the others. EXTERIOR: You only get one shot at a good first impression! -Remove any smoke stains from the transom. -Remove stains from the bow wave area. (Star Bright Hull Cleaner or FSR works well on these satins.) -Wash and wax the entire boat. The boat may not stay clean very long, however, the wax will make later clean up easier and even a dirty boat will look better when it is properly waxed. -Polish stainless steel rails, trim, window frames and canvas supports frames. A good coat of wax will help prevent rust. -Clean upholstery and canvas. Pay particular attention to mildew stains. -Look for minor repairs and upgrades that can make a big difference; have a broken zipper repaired, replace a missing port light screen. Everything at the helm should look shipshape. If the compass is faded, replace it. It would be on the survey anyway. -Try to look at the boat like you had never seen it before. Anything jump out at you? Mismatched and worn out mooring lines? Dirty or deflated fenders? Everything looks great except the blackened shorepower cord that's leaving marks on the deck you just cleaned? Old Glory proudly flying from the stern is sky blue, pink and tan with frayed ends? Replace it or at least take it down. Attention to the above details can make the boat stand out among the competition and says the owner has taken proper care of a shipshape vessel. INTERIOR: -Avoid clutter. Clutter makes a boat look small and makes the buyer feel that they are in someone elses boat, not imaging themselves in their new boat. -Remove anything you plan to keep. Ideally, there is nothing on the boat that doesn't convey. Stow personal gear that needs to be aboard prior to sale out of sight is possible. -If you remove an expensive clock or artwork, consider replacing it with something inexpensive to cover the screw holes or discolored spot on the bulkhead. Do this before the prospective buyer sees it. Aslo, be sure your broker know this, if the listing shows an antique Chelsea clock and they end up with a plastic tide clock...well you see the problem. -Clean and dust. Give teak a fresh coat of oil. Touch up scratches, dings, and scuffs in woodwork and cabin soles. -Clean upholstery, drapes and carpet as necessary. -Head compartments should be spotless. Pay particular attention to the head itself. Remove corrosion and mildew from mounting hardware and piping. The bowl should be free of stains. -In the galley pay particular attention to the refrigerator. If the boat is not being used be sure to wipe down the interior and prop the door open to prevent mildew. Speaking of mildew, check out the door gaskets. Sometimes it's a good investment ot have them replaced. -Remove any papers that relate to your purchase of the boat, surveys, closing statements and tax bills. Registration and documentation papers are OK. -Take a hard look at the engine room or machinery spaces. Consider wahing engines or touching up the paint on rusty spots. Pans under engines should be clean and free of oil or water. Look at the low point of the bilge, usually near the bilge pump, scrub away the "bath tub ring" and be sure the bilge is oil free. If your boat always has a little water collected near the bilge pump, that water should be clear freshwater. -Make sure the boat is as odor free as possible. Often people are turned off by a boat and don't know why. Sometimes it's an odor, even a faint one. Holding tanks, stale bilge water, or mildew usually causes the odors. Pump out holding tanks and maybe fill one with fresh water and pump out again, adding a holding tank bleach or deodarant. For a clean smellingboat nothin beats soap and water and fresh air and sunshine! Setting the heat pump to cool or heat the to make the propective buyers more comfortable is helpful. Be sure to check the return air filters and the sea strainers as needed. LOOKING AT THE DETAILS AND SPENDING A LITTLE TIME AND EFFORT CAN ADD BIG DOLLARS AT THE CLOSING TABLE!
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Ashley Yachts LLC
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