4 Ways That a Boat Appraisal is Helpful to a Seller
You have a pleasure boat that is no longer needed. Now would be a good time to sell before the need to store the boat for the winter rolls around. Before you begin to seek potential buyers, it makes sense to arrange for a boat appraisal to use as the basis for the sales effort. Here are some of the ways that appraisal will come in handy.
Identifying Issues That Escaped Your Notice
While you know the boat well, it’s easy to overlook some details that could impact what others are willing to pay for it. The typical appraisal is detailed enough to identify issues that you may not have noticed. That can actually work in your favor.
You can make the decision to either sell the boat as is or opt for making a few repairs. Assuming the cost of the repairs will allow you to go after a higher price, it may be worth the time and effort. Once the repairs are done, have a fresh appraisal done and keep it on hand.
Using the Appraisal to Attract More Buyers
Your appraisal can be one of the most effective selling tools in your arsenal. That’s because the appraisal by a recognized professional confirms the condition of the boat. You can bet that buyers will want to see it before they spend much time considering the price.
Expect potential buyers to still want to check out the boat for themselves. In fact, you should encourage them to take it for a test and see what they think. You should also invite them to inspect the boat themselves. Combined with the details found in the appraisal, it will be easier for buyers to know you are being honest and up front about the boat’s current condition.
Determining the Boat’s Current Market Value
While there are resources that will tell you the book value of your make and model of boat, they don’t take into consideration a number of factors about your particular vessel. With a boat appraisal, attention is given to the actual condition of the boat. That includes any improvements or modifications that you may have made over time.
The fact is that your boat’s current condition and the additional features could make it worth more than the typical value. In that case, you would want to use the appraisal as the basis for setting the asking price. Doing so is one of the best ways to seek the best possible amount for your boat.
And Deciding How Much Negotiation You’re Willing to Consider
The details found in the appraisal also help you have a better idea of how much you’re willing to move off the asking price if a buyer wants to negotiate. It’s true that you may not get the price that you ask initially. On the other hand, a truly interested buyer who’s willing to pay that price is still likely to counter with a lower offer. If you sense that the buyer really wants the boat, you can either remain firm on the price or offer another figure that is more than the buyer’s offer but still a little less than the asking price.
The bottom line is that arranging for a professional appraisal of your boat is a good move. Set up an appraisal today and find out what you can learn from it. Doing so will make a difference in terms of how you advertise the boat and ultimately how much you can get for it.