Thinking of selling your boat? Low inventory has buyers on the lookout

(BPT) - The best time of year to sell a boat fast and for the most money is before the height of the boating season, plus any time when demand for boats is strong and supply is low. That means, if you’re looking for cash and have a boat you’re willing to sell, now is a great time to get top dollar.

According to boating marketplace Boat Trader, sales of used boats remain on the rise nationwide in 2021 after the pandemic set in motion a wave of new enthusiasts buying boats. Early spring transactions for used boats under 36 feet jumped 41% over the same period last year.

However, because of how fast boats are selling, this year’s boat buyer is facing record-low inventory. Inquiries sent to sellers through the platform offer one way to measure increased demand for boats, and the number of leads submitted per boat shopper has grown by 64% over 2020. Experts say the dramatic rise indicates competition is fierce among consumers and will last beyond summer.

For some shoppers, squeezed selection makes decision-making quick and easy, but for others, it keeps the boat search dragging on until more boats become available. What has helped relieve some of the supply strain is current boat owners recognizing the opportunity for a quick payday and privately listing their boats for sale.

When it comes to selling a boat online, people are drawn to the fast and efficient way to cash in on their boat’s worth. However, listings that are positioned properly get the best price.

List where the fish bite

A selling platform’s geographical scope is a key determining factor in ensuring that your boat will get as much coverage as possible. Regardless of whether you want the convenience of a local buyer, the more people that view your ad, the more likely you are to find the right buyer.

Boat Trader’s search filters let sellers reach interested shoppers who are able to find and locate the vessels they’re looking for within a range of specified geo-targeted locations. When you list a boat as a seller, local buyers get notified if the boat matches their criteria, helping you sell your boat faster.

Listing tips that have the biggest impact

Here are three tips to sell your boat quickly:

• List your boat on the right platform by considering boating marketplaces first.
• Add a detailed description, including engine hours, electronics, upgrades, trailer and regular maintenance performed.
• Include high-definition photos and include a video to enhance your listing.

When considering selling platforms, social marketplaces may sound convenient, but they are often less focused, with a diluted boating audience. These sites have a lot of yard sale noise and are less likely to have serious boat buyers. As stated by Boat Trader, the portal's rate of overall lead conversion is 19.4%, meaning that 1 out of every 5 leads converts to a boat sale.

High-quality images are really important when selling a boat, so include many photos or videos at many different angles. In addition, consider offering live video walk-throughs with potential buyers, and try to schedule video chats back-to-back to save yourself time.

Why sell now?

In summary, demand for used boats is high, but supply is low. You can reach the largest audience by selling on a specialized targeted website, keeping in mind that boat searches on Boat Trader are up 55% over last year, where 75% of privately listed boats sell within 12 weeks. Learn more at www.boattrader.com/sell.