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#570844 - 05/09/18 02:40 PM Have you ever used a boat broker to sell a boat?  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

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NC (Lake Norman)
I mentioned in another thread that I've been shopping around for a new to me boat. I made an offer on a boat yesterday and waiting on a response. In any event, the boat I made an offer on is being brokered. That broker has offered to sell my boat for me. Normally I would not be interested, but in this case it would help solve a problem. I do not have a trailer, the boat I made an offer on does not have a trailer. I only have one boat lift. I would not have a way to keep two boats during the time that it would take to sell my current boat. If I let the broker sell it for me, the boat will be stored indoors, he handles the calls, marketing, showings, sea trials, paperwork, etc. The fee is 10%, which seems to be the going rate. I've been impressed with the broker so far in dealing with him on the buy side. He sells a ton of boats and has a good website. Other than leaving some money on the table, the only downside that I can think of is he is 3.5 hours away, but he will pick up the boat for me. Anybody have any good or bad experiences with boat brokers?

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#570852 - 05/10/18 11:34 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Grand Poobah

Joined: Nov 2003
Posts: 15,129
Pasco, WA
CB, one thing that might come into play is if your state allows a reduction in the sales tax on the new boat purchase in the amount of the tax on your trade in boat. That sounds a bit confusing but let's say your state sales tax is 5% and the new boat price is $20,000. Your sales tax would be $1,000. If your state allows the sales tax to be reduced and your trade in boat is worth $8.000, your tax liability would be reduce by $400 ($8,000 x 5%).

That might only work if the broker is willing to buy your boat or if they're willing to take it in on trade n the new boat.

To answer your question about using a broker, I've used one to buy a boat but never to sell my boat.


"Beachcomber" 1995 Sea Ray 550 Sedan Bridge


Anchor's down......Bottoms Up!
#570854 - 05/10/18 01:38 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

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NC (Lake Norman)
Well, the seller and I have come to a verbal agreement. I've signed the contract and waiting on the seller to sign. Once he signs, I will share the details on the boat...superstition I guess. The broker is researching what he thinks I can get for my Formula. If I am satisfied with what he comes up with, I am inclined to let him sell it. Logistically, it simply makes the most sense. I realized last night that I have fought off 2-footitis for 12 years! The Formula has been a great boat for us.

#570855 - 05/10/18 07:57 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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captkevin Offline
Admiral
captkevin  Offline
Admiral

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Chicago, IL
Very exciting. Can't wait to here more & see pics


2004 Rinker 232
2010 Dodge Ram Crew Cab Laramie 4x4
#570857 - 05/11/18 09:26 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

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NC (Lake Norman)
Pending a successful sea trial/systems check and an engine/drive test, I will be purchasing a 2010 Cobalt 276. My wife and I have gone round and round about whether we wanted to buy a new boat. Our current boat has been great and is still in excellent condition. I spent a lot of time looking at 28 to 29 foot bowlders with twins, but ultimately decided that I did not want to make that much of an investment. Realistically, a boat that size would be overkill for most of our boating. I had pretty much settled on keeping the 240 for a while longer, but kept my eyes open for the "right boat". The right boat for us was going to be a 27' to 28' single engine bowlder that was near new. This 2010 276, looks near new. Absolutely perfect condition, interior and exterior. Only 144 hours. Its older than everything else we were looking at, but the price and like new condition makes this an easy deal. We pick up a few more spots to put butts in seats and get something that is new to us. Honestly, a bit of the new boat fever has to do with us simply being ready for something different. We had the Formula for 12 years. The cobalt is 27'6' and comes with a 496 HO with a BIIIX drive. I hope to have it on my lift by June 1.

[Linked Image]

#570858 - 05/11/18 09:42 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Jun 2004
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Silverbullet Offline
Admiral
Silverbullet  Offline
Admiral

Joined: Jun 2004
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Boise, ID
Very nice. Is the 276 the same general hull design as the 226/246? I occasionally think it would be nice to move up to the 246 or next size up. It would sure add some room.

I did find a cobalt specific board of you are interested.

Hope it all works out.


James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


#570859 - 05/11/18 11:38 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Mar 2008
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PhatboyC Offline
Always Need a Bigger Boat
PhatboyC  Offline
Always Need a Bigger Boat
Admiral

Joined: Mar 2008
Posts: 2,212
Ottawa/Ontario
Nice congrats! Nothing like changing boats to keep the excitement going.


-------------------------------
[Linked Image]
2007 40' Formula SS
2006 25'.6" Cuddy Cabin - Sold
#570865 - 05/11/18 09:11 PM Re: Have you ever used a boat broker to sell a boat? [Re: Silverbullet]  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

Joined: Aug 2005
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NC (Lake Norman)
Originally Posted by Silverbullet
Very nice. Is the 276 the same general hull design as the 226/246? I occasionally think it would be nice to move up to the 246 or next size up. It would sure add some room.

I did find a cobalt specific board of you are interested.

Hope it all works out.


Thanks! I don't know if its the same hull design as the 226/246. I still need to get educated on Cobalt's different models.

Yes, I am interested in the Cobalt specific board.

#570888 - 05/14/18 11:22 AM Re: Have you ever used a boat broker to sell a boat? [Re: PhatboyC]  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

Joined: Aug 2005
Posts: 1,053
NC (Lake Norman)
Originally Posted by PhatboyC
Nice congrats! Nothing like changing boats to keep the excitement going.


Thanks. I notice the 400 SS in your signature. Love them. That is the boat I will have if I move up to boating outside of an inland lake.

#570889 - 05/14/18 11:35 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Mar 2008
Posts: 2,212
PhatboyC Offline
Always Need a Bigger Boat
PhatboyC  Offline
Always Need a Bigger Boat
Admiral

Joined: Mar 2008
Posts: 2,212
Ottawa/Ontario
Even when I bought my first boat 10 years ago I already new this was going to be my next boat. I fell in love with the shape. Life I short so better now than never.


-------------------------------
[Linked Image]
2007 40' Formula SS
2006 25'.6" Cuddy Cabin - Sold
#570891 - 05/14/18 04:08 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Frantically Relaxing Offline
Admiral
Frantically Relaxing  Offline
Admiral

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Posts: 11,760
You're going to wonder why you didn't get a bigger boat sooner smile -


[Linked Image]
#570892 - 05/14/18 05:10 PM Re: Have you ever used a boat broker to sell a boat? [Re: Frantically Relaxing]  
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

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NC (Lake Norman)
Originally Posted by Frantically Relaxing
You're going to wonder why you didn't get a bigger boat sooner smile -


Truth!

I am going to make the 3.5 hour drive Wednesday night for a sea trial on Thursday morning. I have decided not to get a survey. The boat truly is like new and I feel like I know enough about bowlders to check it over myself. I will make a checklist to take with me and test all the systems for proper operation. It's a bowlder, so there are not extensive systems to check. I will have the engine and drive inspected by a Mercruiser tech after the sea trial. Compression check, hook it up to a computer to check for codes and have the drive inspected. We'll see how it goes.

#570893 - 05/14/18 05:16 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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captkevin Offline
Admiral
captkevin  Offline
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Chicago, IL
Cycleboater great choice on the boat. That will be on our short list next round. Trying to hold off another year or 2. You guys are making it hard with all the new boats around here.


2004 Rinker 232
2010 Dodge Ram Crew Cab Laramie 4x4
#570896 - 05/14/18 09:22 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Jack T Offline
Admiral
Jack T  Offline
Admiral

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Southern California
"You guys are making it hard with all the new boats around here."

Amazing what coming out of a recession does for the economy.


Have a great day of boating
2012 Monterey 224 FS,
300 HP Volvo Penta with catalytic converters

#570991 - 05/26/18 08:19 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Aug 2005
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Cycleboater Offline
Admiral
Cycleboater  Offline
Admiral

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NC (Lake Norman)
I figured that I should close the loop on this story. The 276 is on now perched on my boat lift. The sea trail went great and I had the engine and drive inspected by MarineMax. Earlier I think that I mentioned that the 276 was being sold by a broker. That experience was exceptional. The broker was knowledgeable and had contacts with exceptional people. The broker, MarineMax and the guy who delivered the boat to Charlotte made this a very smooth transaction. This was a small deal for the broker, but I would not have known the difference with his service. The seller is a big shot with multiple boats, so that probably helped! I've had a day to thoroughly dig around the Cobalt and I am very pleased with the purchase. The condition is like new. Hard to believe it's and 8 year old boat. My impressions so far is that Cobalt's build is on par with Formula. I've seen little things that I think Cobalt does a better job of and I've seen things where I think Formula does a better job. But it's all one's personal preference. The helm on the Cobalt is underwhelming from an aesthetics point of view. The Formula looks and feels sportier behind the wheel. Overall, the best comparison that I can make is the Formula is like a Porsche--sport oriented, less is more, aggressive, sporty ride. The Cobalt is more like a Mercedes--more luxurious, softer ride, more comfort items, padded vinyl everywhere.

Given the good service the broker gave, I was more than willing to let him sell my boat; however, the logistics were not ideal given he is located 4 hours away. If it didn't sell, I would have to find a way to get it back to Charlotte, no trailer, no tow vehicle.....I had a two week window before the Cobalt was being delivered and make a decision to let them take the Formula to Wilmington for the broker to sell. I talked to a local broker and it was a mess. They quoted me a price that was over $10,000 below what I thought I could get if I priced it at the low end of the NADA range and $20,000 below what they were asking for the same boat that was only 2 years newer! I think they were wanting to do a flip. They finally came around to realistic numbers, but I had already decided they were not working for me.

I placed an ad on Craigslist and a couple of boating specific pages on FaceBook. I only got a few hits, but they were from legit buyers. I got a text from a 810 area code. They were asking lots of questions. I looked up the area code and saw that it was Michigan. I thought, thats a looooooong shot. Well, the questions kept coming. Long story short, I cut my asking price $1500 and the guy made a 12 hour trip to pick the Formula up on the same day the Cobalt was delivered. Thrilled to have it all done and not having to deal with two boats for more than two hours. You know what they say about the two happiest day of a boaters life are...the day you buy and the day you sell. Thursday was bliss, I bought and sold on the same day. Talk about threading the needle.

I hope to get some quality time on the Cobalt this weekend. Happy Memorial Day all.

#570992 - 05/26/18 09:51 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Jun 2004
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Silverbullet Offline
Admiral
Silverbullet  Offline
Admiral

Joined: Jun 2004
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Boise, ID
Very cool. More pics please.


James
2002 Cobalt 226 VP 8.1GIDP
2007 Chevy 2500HD Crew Cab Duramax
1988 Suburban 3/4 Ton
2000 Subaru Forester


#570993 - 05/26/18 12:24 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Nov 2003
Posts: 15,129
GoFirstClass Online content
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Grand Poobah

Joined: Nov 2003
Posts: 15,129
Pasco, WA
C'mon CB, you know the rule: Without pictures it didn't happen.

Congrats on buying a fine boat.


"Beachcomber" 1995 Sea Ray 550 Sedan Bridge


Anchor's down......Bottoms Up!
#570994 - 05/26/18 01:40 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Oct 2003
Posts: 7,483
captkevin Offline
Admiral
captkevin  Offline
Admiral

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Posts: 7,483
Chicago, IL
Great news on the sale & new purchase.


2004 Rinker 232
2010 Dodge Ram Crew Cab Laramie 4x4
#570996 - 05/27/18 09:20 PM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
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Frantically Relaxing Offline
Admiral
Frantically Relaxing  Offline
Admiral

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Posts: 11,760
Just a word here about brokers- the one around here I used to buy and sell the SunRunner, to buy the Party Cruiser, to buy the Regal and sell the Chaparral... I've been very happy, obviously, with the buying and selling end of things-

big BUT-- that was from the sales-floor end of things. But be aware, the sales floor and the shop are left and right hands wink

I think I told these stories when it happened, but to summarize, the spare tire fell off the Regal's trailer on the way home, went under the trailer it while it was upright, that'll stop yer heart-- and a few weeks later after spying our Chap coming up the ramp, I noticed the outdrive covered in mayonnaise, because the dipstick was missing. Stellar service as always from the sales dept, but the service dept pert near destroyed both boats!


[Linked Image]
#571001 - 05/29/18 11:03 AM Re: Have you ever used a boat broker to sell a boat? [Re: Cycleboater]  
Joined: Aug 2004
Posts: 6,452
On Holiday Offline
Daddy
On Holiday  Offline
Daddy
Admiral

Joined: Aug 2004
Posts: 6,452
PA and Smith Mountain Lake
When we purchased our current boat through a member on a brand specific boating forum, I thought in my mind the boat would be located in Iowa or some far a way place. Lo and behold the boat was from PA however it was in the far opposite side of the state from me. If boats are in pristine condition then distance doesn't seem to matter as much. Heck just last week we purchased a car we found online 2.5 hours and 2 states away.


2008 Honda Goldwing Trike
2006 Regal 2400
2004 Dodge Ram 2500
2003 Ford F-150
2002 Harley Davidson Roadking Classic
1998 Honda Civic


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