Selling boats to brokerages

[jeb_lee]

I'm currently trying to sell our canal boat, I have spent a small fortune getting it advertised almost everywhere but not really getting anywhere, doesn't seem to be many buyers out there. We really need to sell it by August and if it comes to it I might need to sell it off to a brokerage, I was wandering if anyone had experiences of selling their boat for cash at brokerages and how much to expect.

 

 

 

Also if anyone is interested, our advert is on Apolloduck

http://narrowboats.apolloduck.co.uk/display.phtml?aid=141178

We're open to offers so grab yourself a lovely little boat!

[steve hayes]

Like most things, the initial contact sounds interesting, but the outcome is less so.

 

When selling my daughters boat, and things were a bit quite we contacted one on the brokers who advertises in the mags and he said that he would offer a fair price, the boat was advertised for £24k.

 

When he visited he started talking everything down, saying that we had no chance or getting anywhere near the asking price, but he would take it off our hands for £10k.

 

So after showing him the door, he unfortunatley turned left onto the bank not right into the cut, we decided to push on and try to sell. In the end we sold it on Ebay for the full asking price, spent about £500 putting right a few bits and pieces as agreed with the buyer.

 

Happy daughter and father

[jeb_lee]

I'm suprised you managed to sell it on ebay, I haven't seen many sold on there without going for low prices. I did advertise it on ebay but only as an advert not an auction as I could imagine people bidding without even seeing the boat, then changing their minds.

[koukouvagia]

I'm currently trying to sell our canal boat, I have spent a small fortune getting it advertised almost everywhere but not really getting anywhere, doesn't seem to be many buyers out there. We really need to sell it by August and if it comes to it I might need to sell it off to a brokerage, I was wandering if anyone had experiences of selling their boat for cash at brokerages and how much to expect.

 

Also if anyone is interested, our advert is on Apolloduck

http://narrowboats.apolloduck.co.uk/display.phtml?aid=141178

We're open to offers so grab yourself a lovely little boat!

 

I see that you have added to your description of the boat the following paragraph:

 

“... it is a BW mooring but for some reason these moorings haven’t been going to tender despite what many of their staff will say, it is just a case of speaking to the right person at BW. We obviously cannot guarantee the mooring but we can put you in touch with the right people.”

 

I wonder if this is putting people off? What you appear to be doing is trying to sell the boat and transfer the mooring. I haven't got chapter and verse in front of me, but I thought this was expressly forbidden by BW.

 

If I were a prospective buyer I would be very chary of entering into an mooring agreement arranged on such nebulous terms. BW is notorious for changing its mind and staff never seem to stay for more than five minutes. How can you guarantee that “the right people” will not be replaced by those who see things differently? I don't like the present mooring scheme, but one benefit it has over the old system is that securing a mooring does not rely on “knowing the right people.”

[Paul H]

I would say it is worth going for a paid advert on Apollo Duck with more pictures. Many people are far more interested in the interior of a boat. And how about advertising it locally?

 

Someone on our marina just sold his boat to a large brokerage on the GU. Got £8K cash for it (it was a small boat.) 2 days later it is on the broker's website for £15,950. I expect they'll get about £14K for it which would have given him £13K after brokerage fees.

 

So the price of impatience in this case was £6K. I'm not blaming the broker, the vendor could have said no. A quick deal was obviously more imporatant than a good price to him.

 

Paul

 

PS And if a boat or anything else isn't selling its down to two reasons - poor marketing or wrong price.

Edited April 30, 2010 by Paul H

[RLWP]

I would say it is worth going for a paid advert on Apollo Duck with more pictures. <snip>

 

Paul

 

PS And if a boat or anything else isn't selling its down to two reasons - poor marketing or wrong price.

 

I agree with Paul on this. You have a single picture and quite a sketchy description of the boat. It's not a lot to get a buyer interested in parting with £35,000 really. A few more exterior shots, perhaps against a less cluttered background, and some good interior shots of a tidy boat will at least get people interested enough to give you a call to see your boat.

 

I think you are going to take a big hit if you sell to a broker.

 

Richard

[jeb_lee]

I only put that the mooring may be available if needed as when we were looking for a boat we couldn't find a mooring anywhere so it was just there if anyone was interested. I know that these moorings are just given away to those who phone the moorings officer as we did just that after the tender business was brought out and the people in the next mooring have done exactly that and moved over just before christmas, I have also checked with BW if these moorings go to tender and they said they don't. What I meant by right people, was that when we originally phoned about moorings we were told by a secretary and the general information line that ALL moorings went to tender and we'd have to wait months till the system was set up, it was a very different story when I got through to the person who actually has control over the moorings who simply just gave me it over the phone, the other moorers found their experiences very much the same.

l know that this 'never' happens with BW moorings but they get away with this on our moorings by hiking up the price to rediculous residential prices (when they're not), I did notice that things are a bit different from when we bought our boat and in the end I advised the people who viewed our boat to actually get one on tender as they're easier and cheaper than a lot of people think, it depends on what the boat is used for.

When we were buying a boat around the time the tender system was brought in most people advertised their boats with BW moorings even though they new you would have to go on a waiting list for them so I thought it was fair for me to mention the mooring considering it is very possible for somebody to use it after our term has finished.

[jeb_lee]

At the time I thought I would just get a free advert and see how that goes, all the interest I've had so far I have provided a lot more photos, but I will think about getting a better ad. I've also put an advert in quite a few magazines and papers. I think the market seems to have dropped in price since we started advertiseing so I'll probably do a bit of review on the ads.

[RLWP]

Sounds like a good plan. A boat at that price is likely to appeal to new boat owners. May as well try to give them as much opportunity to want your boat as you can (without giving it away for too little money of course).

 

Richard

[steve hayes]

I'm suprised you managed to sell it on ebay, I haven't seen many sold on there without going for low prices. I did advertise it on ebay but only as an advert not an auction as I could imagine people bidding without even seeing the boat, then changing their minds.

 

I must admit I was pleasantly suprised, it was an auction but we set the starting price at £19k with a buy it now at £24k, we were not going to risk selling too cheap.

 

There was a lot of watchers, I know it does not mean they will even bid, but two people came to view and the second one agreed to buy it and put a deposit down. Two weeks and a bank transfer later, the boat was sold.

[Gibbo]

This issue came up last year.

 

General opinion seemd ot be that if there's only one picture, 99% of people just click "next" and it doesn't get a second look.

 

I know if I was looking for a boat anything with no or just a single picture would be completely ignored.

[RichardH]

If you are ok with honest feedback, I think it is a touch on the high side pricewise - I would market at £32000 (after all no brokers fees on AD)

 

Also is the beam really 7ft? After the much publicised case of the boat allegedly built 'too wide' this may put people off as Hurleston does state max 6'10"

 

Best of luck in selling her.

[starman]

Yes, it's a terrible advert - there's far too much text and the photo is very poor. We're always skimming through Apolloduck looking at boats and an ad like this would just get clicked past. It's only when you plough through all those words that you realise it sounds a nice little boat

You need to catch people's attention with nicer pics and some crisper words. Maybe like this or even less....

"46ft 1997 South West Durham Steelcraft, cruiser stern, well maintained and with many new fittings. Sleeps up to four making it ideal for a couple or small family, really easy to manage, cheap to run and reliable.

Newly serviced Eberspacher central heating, new mattress, newly upholstered seating, new flooring. Economical 3-cylinder Kubota engine, 3 good batteries plus new spare, new water pump, long BSC to Jan 2013.

Highly quality painted oak fit-out. Cabin has fixed double bed with storage under, two wardrobes and heated airing-cupboard. Bathroom has pump-out toilet, sink and shower. Galley has a gas oven, Coolmatic fridge, lots of storage. Dinette converts to second double bed.

Out of water survey September 2007 when the hull was also blacked. BW Licence until September 2010."

 

And regularly re-run the ad because people never look beyond the first few pages on ApolloD.

[dor]

If the price is right there is no reason why it will not sell through a brokerage.

The brokerage I am involved with has just had its best month for the last year, including three boats sold in one day, although the first three months were dead. Boats are selling, but many people still have a very optimistic idea of what their boat is worth.

 

Can't say what a realistic price is without seeing it, but somewhere in the low thirties sounds about right.

[mark99]

As a potential buyer of a N/B I must say that if we see an advert on Apollo Duck with one photo and badly written up description, it gets skimmed past without even a first glance let lone second read - as mentioned by previous poster.

 

It's a buyers market.

 

Mark

[alan_fincher]

I also think the AD advert is not sufficiently detailed.

 

I would look no further with no more info than that.

 

There are a lot of boats around, and it would not be hard to find something around 46 feet and similar age with a lower asking price, so why is anyone going to spend lots of time on yours.

 

It may be the best boat in the world, internally, but if it is, your advert doesn't say so, and does little to attract.

 

I think being in the 45 foot length size rather than the 55 to 60 foot range substantially reduces the price you can get for boats of this sort of age and pedigree. Your mid-thirties price would also do nothing to attract me, (having paid significantly less for a shorter, newer, boat, when the market was more buoyant)

 

Sorry - probably not what you want to hear, but you do want to sell it!

 

The price you will get for such a boat if you actually try and sell it to the broker will end up being derisory, I feel.

[jonk]

I am in the market for such a boat but would not have considered your advert since there are not enough photos nor details. I need to see the inside layout, the shower and bathroom, the kitchen, the condition of the interior, the layout design (reverse or traditional etc.) and so on. I also need to know the engine, drive, insulation used, batteries, heating etc. An advert something like on Whilton Marine with the details laid out would catch my attention. For these reasons I have stopped looking at Apollo Duck and have concentrated on Whilton Marine. I also think that the price is a bit on the high side but difficult to tell from the advert.

Hope this helps, best of luck selling!

John

[bottle]

Hi

 

As others have said the way the boat is presented is all important, you say you have compared prices for similar boats.

 

Look at the way the 'professionals' advertise, for example ABNB, small initial description, with link to better description and lots of photo's.

[Phil Ambrose]

I'm currently trying to sell our canal boat, I have spent a small fortune getting it advertised almost everywhere but not really getting anywhere, doesn't seem to be many buyers out there. We really need to sell it by August and if it comes to it I might need to sell it off to a brokerage, I was wandering if anyone had experiences of selling their boat for cash at brokerages and how much to expect.

 

 

 

Also if anyone is interested, our advert is on Apolloduck

http://narrowboats.apolloduck.co.uk/display.phtml?aid=141178

We're open to offers so grab yourself a lovely little boat!

 

I dont think Brokers are very interested in working for their money, we contacted a large well known brokerage this week with a couple of queries about a boat and he said he was too bust to talk at that time. I suggested that I would e-mail the questions to him and he could then respond in his own time. 4 days on and nil reponse, I bet the owner would not be best pleased to know the Broker had ignored a genuine prospect.

 

Phil

[n.b.Goldie]

I'm currently trying to sell our canal boat, I have spent a small fortune getting it advertised almost everywhere but not really getting anywhere, doesn't seem to be many buyers out there. We really need to sell it by August and if it comes to it I might need to sell it off to a brokerage, I was wandering if anyone had experiences of selling their boat for cash at brokerages and how much to expect.

 

 

 

Also if anyone is interested, our advert is on Apolloduck

http://narrowboats.apolloduck.co.uk/display.phtml?aid=141178

We're open to offers so grab yourself a lovely little boat!

Rather than sell it to a broker and get next to nothing for it , why not sell it via a broker and just pay the commission, usually 6% plus vat.

 

Looking at Whilton and Braunston brokerage websites regularly as I do, they both seem to be selling boats like hot cakes and either would be a good one to go for.

 

I believe that if you cannot get the boat there yourself, as you are in the West Midlands, Whilton can arrange for it to be cruised to their marina for you but at what cost I do not know.

 

Regards

Ditchdabbler

 

p.s. looked at your boat on Apollo Duck and it looks very nice.

[dor]

I dont think Brokers are very interested in working for their money, we contacted a large well known brokerage this week with a couple of queries about a boat and he said he was too bust to talk at that time. I suggested that I would e-mail the questions to him and he could then respond in his own time. 4 days on and nil reponse, I bet the owner would not be best pleased to know the Broker had ignored a genuine prospect.

 

Please be assured that not all brokers are the same!

 

Based in South Cheshire, in the last week we have sold a boat to someone who travelled down from North Scotland and on the same day sold a boat to someone who travelled up from Hertfordshire. People wouldn't do that if they got told "I'm too busy to speak to you"! Service, for both buyers and sellers, is everything.

[jeb_lee]

I did realise the price might be a bit high a couple of weeks ago but at the moment the market seems to constantly be shifting, we had a valuation done in december at 36000, but looking at what similar boats are selling for now they're going for low 30s like you say. When we originally bought our boat it was through a broker and I just thought she was a waste of money, she took £1000 from us out of the asking price and all she did was have the boat up on a few online sites with an advert just like mine, in the end I just dealt directly with the buyer anyway. But on the other hand I also know somebody who sold their boat after a week at ABNB but their commission was quite high.

But to be honest I'm not a professional marketer and I based my adverts on my own experiences of buying a boat, and I often looked at ads like mine and just asked for more photos but I guess its all about catching the eye, at least I know not to take up a career in advertising.

I'm going to give AD one more try with a fancy and snappy ad (don't know about getting a video though, bit too technical for me) and I'll also be dropping the price.

Cheers for the advise.

[Dyad]

As a potential buyer of a N/B I must say that if we see an advert on Apollo Duck with one photo and badly written up description, it gets skimmed past without even a first glance let lone second read - as mentioned by previous poster.

 

It's a buyers market.

 

Mark

 

Same goes for me too, I have AD open all time. I look only at ads with pics and look out for key words in the description, if the text is well laid out and easy to read I will stay and read right the way through. I may not be in the market just yet but if I were I may of missed your advert.

 

Are you allowed to put a link to another site from the AD page and then show off more pics?

 

I wish you the best of luck selling her on.

 

Kev

[dor]

When we originally bought our boat it was through a broker and I just thought she was a waste of money, she took £1000 from us out of the asking price and all she did was have the boat up on a few online sites with an advert just like mine, in the end I just dealt directly with the buyer anyway. But on the other hand I also know somebody who sold their boat after a week at ABNB but their commission was quite high.

 

Just goes to show you get what you pay for! There is a difference between a "professional" broker and one with a professional attitude. Most decent brokers are around the 6% mark. Ones that advertise they can sell your boat for 2 - 3% will just stick the boat on a website or two and leave you to do most of the actual selling.

[Billw]

I've just seen the new ad on Apollo Duck and would be amazed if it doesn't generate some interest, looks like a really nice boat.