If you own a boat, there is always a chance that selling it is in your future. Downsizing or upgrading means that you are going to be listing a boat. Obviously, you want to sell the vessel quickly, so you can move on with your plans. While there are many factors that affect how fast a boat is sold, seasonality is one thing that many people overlook. Do you know the best time of year to sell a boat?
Don’t worry, you don’t need to know the answer yet. We are going to explain everything.
What is the Best Time of Year to Sell Your Boat?
Not surprisingly, the best time to sell your boat is in the spring. Sales tend to boom between February and June since the boating season is opening up in most places. There tends to be a rush that happens during the spring because those looking for a boat want to make the most of the season.
The problem is that most boating enthusiasts know this trick. So around the beginning of spring (between late February and April), dozens of listings come pouring in. This increased competition could drive down the demand, lowering the price.
Therefore, if you want to get the best price quickly, you have to either talk with a brokerage or do a little research. Try to time your listing just right, so the supply is a little less. Biding your time for a while has the potential for great rewards.
What About Selling a Boat in the Summer?
Putting a “For Sale” sign on your boat during the hottest months of the year might seem like a grand idea. The truth is that this is not the most productive time to sell your boat. There is a bit of a lull in boat sales over the summer – the frenzy of Spring buyers has subsided and many families take vacations in the summer and pause their search.
That said, there are some advantages to selling a boat during this time of year. First, you don’t have to worry about supply vs demand driving down the asking price. During the summer, there are usually fewer boats for sale, thereby increasing the cost of boats. Should someone be desperately searching for a boat during this time and they find your listing, it is very likely the sale will go through.
A key move for selling in the summer is to keep your boat looking good. Don’t let it fall into disrepair. People don’t want a boat that needs to be fixed before they can enjoy it.
What is the Worst Time to Sell Your Boat?
While there is never a truly bad time to sell a boat, there are some statistically worse months throughout the year. November thru January tends to be difficult due to people being distracted by the upcoming holidays and cold temperatures that keep people indoors. In other words, the demand is lacking. Since there is less demand when it is colder out, this means you may get less for your asking price if you do sell.
The other thing keeping people from buying boats during the winter is the cost of storing the boat. More often than not, buyers are factoring in the cost of winterizing their vessel when shopping around. This drives their budget downhill, which means a harder time getting the price you want.
Selling a Boat in the Fall
As the temperatures start to drop and the nights get longer, the urge to spend money on a boat tends to give way to the holidays. Fall can be tricky. Sometimes a deal goes through before the season ends. Other times, it is better to wait until the next boating season.
There is one hidden benefit to selling in the fall, however. With boating season ending, some boating enthusiasts are looking for the next best thing and may agree to exchange their boat for yours.
Tips For a Quick Sell No Matter The Time of Year
Even if you choose the best time of year to sell a boat, that does not mean it is always going to sell quickly. Make sure you have done everything you can to make your boat the most appealing option. That includes:
- Find a reliable yacht broker, like the Yacht Brokers of Annapolis, to help you out.
- Preparing your boat for a new owner. Brokers can introduce people to your vessel, but only you can keep it in good condition. Make sure your boat is waxed, detailed, and cleaned.
- Get as much exposure as possible. Regardless of the season, advertising your boat is the best way to get it sold.
- Know the asking price. In the spring, people may be more willing to part with their money, but at any other time of the year, they are not going to want to haggle. Do some research then set the price accordingly.
Let Us Find a Yacht For You
What is the best time to sell a boat? Historically, it is between February to June, with March to April being the hottest months. However, if you play the deck right, you might find a buyer regardless of the season. Make sure your boat remains in good condition throughout the year to make it more tempting and be sure to find a broker who can help you advertise.
Yacht Brokers of Annapolis can help you sell and buy the best boat for your lifestyle. We have an extensive inventory of boats, and we can even provide some pointers for selling your used boat more quickly. Why not give us a call today to schedule your consultation at 410-206-2755.