Can you negotiate boat sales?
Whether you’re looking at a boat from a dealership or a private seller, you should be negotiating — it’s just like buying a car. But negotiating doesn’t come naturally to everyone.
What is the average commission for selling a boat?
While standard commission rate is typically 10%, there are brokerages that offer to market and sell vessels for less.
Do boat dealers negotiate price on new boats?
These builders generally don’t negotiate on price. If you want to negotiate, the builder will direct you, the buyer, back to the dealer. Regardless, it’s often best to buy through a dealer, as buyers are better serviced, and there’s usually no price benefit from buying direct.
What is the markup on a used boat?
“Remember, the numbers can vary, but the typical markup in boat sales is maybe 30 percent. Don’t completely lowball him, though. Most estimates are that a dealer’s overhead is around 18 to 22 percent. So he’s not working with much.
How do I sell my boat if I still owe money on it?
It’s possible to sell your boat and pay off the loan at approximately the same time. As long as you and the buyer agree on the circumstances of the sale, selling a boat you owe on is acceptable. Call your lender and ask for the payoff balance on your boat loan. Write the balance down for future reference.
Do boat brokers split commission?
With co-brokerage, the total commission will usually be shared between the two brokers. A commission on a yacht is typically not more than 10 percent. Often that’s split 50/50, or sometimes it’s 60/40. The boat owner/seller always pays the brokerage commission.
Is now a good time to sell my boat?
That means, if you’re looking for cash and have a boat you’re willing to sell, now is a great time to get top dollar. Early spring transactions for used boats under 36 feet jumped 41% over the same period last year. However, because of how fast boats are selling, this year’s boat buyer is facing record-low inventory.
How long do marine engines last?
The average marine gasoline engine runs for 1,500 hours before needing a major overhaul. The average marine diesel engine will run for more than three times that long and log an average 5,000 hours under the same conditions.
How much commission do boat brokers make?
Boat brokers are similar to real-estate agents, but with important differences: They’re far less regulated, and their commission is 10 percent rather than six percent.