Prepping To Sell

[jkimble]

I’m looking for advice on preparing my Cape Dory 36 for sail in the San Francisco Bay Area.

How do I choose/vet brokers?
The boat was outfitted for cruising in 1990 with many extras however, GPS and VHF are outdated. Should I upgrade these or let the new owner pick what they want?

I took delivery of ‘Audrey’ in San Dago in 1983 and she has been in my care ever since. Audrey is currently moored at my private dock on Bethel Island, California. I’ve had many wonderful cruises on Audrey including a two year round trip through the South Pacific.
Now it is time to sell.

Any advice will be greatly appreciated.
Thanks

[David_Old_Jersey]

Originally Posted by jkimble

I’m looking for advice on preparing my Cape Dory 36 for sail in the San Francisco Bay Area.

How do I choose/vet brokers?

I would google up similar boats (type and age) in the area you are selling and build up a shortlist of brokers from those who have a good reach on Google.....and then have a look at the listings (more is better), and where else they are on the internet in addition to own website. I would only nowadays use a broker who was also on Yachtworld.com. ....all that should slim the list down!, and then it is by phone, visit and gut!

The boat was outfitted for cruising in 1990 with many extras however, GPS and VHF are outdated. Should I upgrade these or let the new owner pick what they want?

Let the new owner pick what they want, and leave onboard as long as still working. Some will want all new - some won't be bothered, either way you won't be getting the money back! and you will still be selling s/h electronic items!.......likely make a sale a bit easier but other ways to do that have more bang for buck.

I took delivery of ‘Audrey’ in San Dago in 1983 and she has been in my care ever since. Audrey is currently moored at my private dock on Bethel Island, California. I’ve had many wonderful cruises on Audrey including a two year round trip through the South Pacific.
Now it is time to sell.

Any advice will be greatly appreciated.
Thanks

Plenty of Broker (and Vendor!) moaning threads on CF! worth a read of a few.......

Just pretend you are the buyer and ask self what you would want to know and from the Broker (and even if you have found a good broker, pretend he is a lazy idiot who know nothing about boats! - so spoonfeed him all the info he will need, and keep in contact - especially on what feedback he is getting even when not actually showing).

But a few quick points:-

1) think hard about the price. More is better , but being too optimistic (or deluded!) puts off folks even bothering to talk let alone view. Decide whether waiting 6 months or a year for a sale works for you cost wise (storage and maintenance) and if not then price to sell on the basis you will be saving those cost in a quicker sale, even if that likely to still be in months......no idea about your locale, but if seasonal then need to factor that in as well.

2) List everything you can (google up good listings and crib), try and make yours the best listing. The Broker will guide you, and he should include pretty much everything you provide - even if he tidies some things up a bit into "Broker speak".

3) Photos, Half a dozen good ones - including one selling the dream (ideally at anchor in a sunny anchorage ). Also have more ready to go if you have a serious buyer. And make sure the Photos are recent (excepting maybe the anchorage one, as long as the boat visually looks the same - i.e. not been repainted etc!).

4) For viewings make sure she is clean and free from everything not being sold, inlcudng your personal stuff.......and that everything works, or if not is removed.

5) A clean engine bay is also a winner in my book, but not everyone so fussy......

6) If you can attend the viewings then all the better.

7) if you are willing to take folks out for a sales trip sail (not the seatrial after contract) that would be a big advantage, the price of that is likely will take a few out for a free trip! For some that not a big problem, for others that is clearly akin to offering a free go on wife .

8) big up your length of ownership

9) be honest about what needs fixing or at least is on the horizon for replacement.....if not in the listing then early on, before the viewing! Some folks will be put off (but they would not be buying anyway), others will not (as they know all boats needed stuff - and you get brownie points for being honest , and you can spend those later if the Survey throws up a surprise - real or not ).

10) if you have a survey (for insurance?) even if a few years old then mention that and disclose it. No one will buy or rely on it, but every little bit helps .

11) if able to throw in your time post sale, then could even offer a few days of hands on lessons / boat familiarization - that might be attractive to newbies, especially if you fit the "old salt" category .

Sounds a lot (and I may have also missed a couple of things!), but mostly common sense and likely would do anyway. Nothing on there is compulsory, plenty don't - but plenty wait a while for a sale as well........

[jkimble]

Thank you for such a well thought out reply. It gives me a lot to think about and work on.

[David_Old_Jersey]

Originally Posted by jkimble

Thank you for such a well thought out reply. It gives me a lot to think about and work on.

No worries ....am a bit surprised that others have not also chipped in by now . No idea what they could be doing , maybe out sailing or responding to the Climate change thread?

But a couple of bumps might do the trick - especially if some boat pics included .

[letsgetsailing3]

Try to sell it yourself first. Broker fees are 10% or a minimum threshold, and add to the cost of selling your boat. This assumes you have time to show it.

List it on Sailing Texas, sailboat listings.com, and craigslist.

Be realistic about the price. I see many boats languishing for a year because the owner priced them 20% too high. Go cheaper earlier and save on costs.

I wouldn't replace the electronics, unless they begin to give the impression that nothing on the boat works.

[boatman61]

Personally I'd suggest you sell it yourself through places like www.apolloduck.com and others like them that offer several types of ad's from Free onwards... more pictures etc can follow after contact..
Get her surveyed and valued... saving the buyer the angst...
Popular in ad's on this side... 'Buyers travel costs refunded'...
Set your minimum after adding/estimating possible cost of the above then price for 'Haggle Room'...
If you want something doing well... do it yourself..

[letsgetsailing3]

Originally Posted by boatman61

Get her surveyed and valued... saving the buyer the angst...

I agreed with your other suggestions, but for this one I ask
"Why?"

The buyer can't trust your survey, and the values in those surveys generally are higher than market, for insurance policies.

[barnakiel]

Empty the boat and make her look lean&clean prior to taking pictures. Visuals sell.

Good boats, like yours, sell well: it is just the question of presenting her at her best and being able to negotiate with the best suitor.

Good luck,
b.

[Tony B]

How do I choose/vet brokers?
Google yacht boat brokers in your town or area.
Be sure they will advertise your boat on Yachtworld..com

......, GPS and VHF are outdated. Should I upgrade these or let the new owner pick what they want?
Do not upgrade - I'm sure the broker will tell you the same thing.
If anything doesn't work, get it off the boat.

Neat and clean is the key.

[boatman61]

Originally Posted by letsgetsailing3

I agreed with your other suggestions, but for this one I ask
"Why?"

The buyer can't trust your survey, and the values in those surveys generally are higher than market, for insurance policies.

From my viewpoint...
A helpful apparently honest owner saving me time and trouble finding and setting up lifting and surveys etc... ++++
The potential buyer has reference points that have been covered and can go from there... lets face it on CF the general consensus is that there are no 'Good Surveyors' so for someone like myself who does their own surveying time saved thanks to a very recent survey is
That's why I said... have your minimum in mind... and set your asking according to the Value/Market price...
That being said I've known owners who've considered their boats worth a bit more than the surveyors valuation...

[OutOfControl]

"Good boats, like yours, sell well"

barnakiel, agreed.
Cape Dory's will always attract a specific buyer. The OP should make theirs stand out by reasonable pricing and a clean presentation.
OutOfControl

[barnakiel]

Yep.

Re GPS / radios / electronics - I would leave them the way there are. Buyers look at the boat up first and all and any equipment are optional extras. Do not upgrade, just make sure whatever is in the boat, works.

I think a clean engine that starts well is a plus.

b.

[skipmac]

Originally Posted by barnakiel

Empty the boat and make her look lean&clean prior to taking pictures. Visuals sell.

Good boats, like yours, sell well: it is just the question of presenting her at her best and being able to negotiate with the best suitor.

Good luck,
b.

From a former yacht broker.

Clean is a huge plus in selling a boat, often can be a deal maker or breaker with the wife or girlfriend. Also having boat cleared out helps if the buyer is an experienced boater and wants to look at all the wiring, plumbing and other bits inside the lockers so clearing out as much of the personal effects from drawers and closets will help.

Don't forget to ventilate as much as possible to keep the boat smell down.

[skipmac]

If you decide to sell through a broker (live out of town, don't have the time, lots of reasons why) here's a few hints.

Not sure about CA but when I was a broker in FL there were two ways to list the boat with a broker; an open listing and an exclusive listing.

One note. In a sale the commission on the sale is split between the listing broker and the selling broker. If the listing broker also sells the boat then he/she will get the whole commission.

The open listing will allow you to list it with more than one broker or sell the boat yourself. Very important!! If a broker introduces you to a buyer you cannot sell to that buyer directly and avoid paying a commission. Most listing contracts will prohibit that even beyond the expiration of the contract.

Benefits:

- If you find a buyer you can sell it yourself and pocket more money or offer a more attractive price to the market.
- You can list with several brokers who may be more motivated to push your boat to their buyers since they would not have to split the commission.

Exclusive Listing. Any broker can still sell the boat and receive a seller's commission but the listing broker will always get the listing commission. You will probably have to pay the listing commission even if you sell the boat yourself but ask about this detail.

Benefits (all these assuming you find a "good" broker)

- He/she will be motivated to market your boat knowing that there is a guarantee of at least half the commission.
- More likely to get advertising on the boat paid for by the broker.
- Broker can learn more about your boat, condition, etc. to better respond to phone or email inquiries.
- If you are located far from the boat the broker may help keep an eye on the boat, open it up to air out prior to a showing, etc.

If you decide for an exclusive listing I would ask about the following and make sure I get in writing several things.

- What the agency will do as far as advertising.
- I have seen agencies based at a marina offer dock space free or at a reduced rate to put the boat at their docks. Ask.
- An exit clause for you if the broker doesn't live up to the agreement.
- You might ask for an exclusion on commission if you sell the boat yourself but this might be a sticking point.

Good luck.

[Rick R]

To add my two cents..... Spotlessly clean inside and out is a must. Don't bother with electronic upgrades, but make sure that everything works. Don't do a survey. A sellers survey will probably not be trusted by a buyer anyway. Instead, go over the whole boat yourself as though you were the surveyor, and fix everything that doesn't work or doesn't meet standards, and can be upgraded at a reasonable cost.

Then after you are finished, you will probably say to yourself "what a beautiful boat. Why would I want to sell such a gem"