Selling a boat can be an expensive and frustrating process. The market is slow, so boats aren’t moving. As a result, you are forced to reduce your asking price by 30% to even get inquiries. These inquiries will include low-ball offers which may be half of your appraisal value. Or maybe a contract is signed but falls through months later after sea trial or survey because the buyer is asking for unreasonable repairs. Every month that goes by means $1000s more in insurance, dockage, maintenance, interest on your boat loan, and then a 10% brokerage commission if youre lucky enough to close the deal. Every month your old boat sits on the auction block is another month you postpone buying your new boat, or investing elsewhere. In an economy like we have now, this can go on for months or years with no end in sight.
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