by Conrad & Judy Kreuter
Q: Dear Boat Talk: I am thinking about selling my boat and maybe buying a new one. What is the best way to do this? CC Valley Stream NY.
A: Dear CC: Obviously there are two ways of selling your boat. One is through a boat dealer and the other is by yourself. When you use a boat dealer he will charge a brokerage fee that is normally ten percent of the selling price. He may also charge you for any repairs required that have to be made to bring the boat into safe operating condition.
The boat dealers will have more traffic at his showroom than you will and he will also do all the advertising for you as well as qualifying potential buyer end negotiating the best price. He already has a reputation in the market for the products he sells and customer will be more inclined to buy if a reputable dealer is involved.
When selling the boat yourself, remember that selling your boat is like selling your house. You will rarely get more than the market value, but the cleaner, more equipped, and water ready it is the faster it will sell.
If you are planning to buy a new boat, you should weigh the advantage and disadvantages of trading the boat to the dealer from whom you are buying the new boat. Although the value the dealer will give you for your old boat may be considerably less than the market value, you will not have to pay sales tax on the amount of the trade, which is deducted from the price of the new boat. You will also not own two boats at the same time or spend time waiting for your old boat to sell until you can get the new one. The dealer will also take care of all the necessary paperwork required.