Yes, it's time to sell my boat - so my question is: 'Do I use a yacht broker or sell it myself?'

The answer to this question depends on a number of things.

Primarily, it's your skill, time availability and confidence in finding a buyer and handling the negotiation and sale process.

Managing financial transactions with people you have just met can be a challenge for some, so experience is likely to influence your decision.

Should I sell my boat myself - or use a broker?

A yacht broker will charge a commission - up to ten % of the sale price. While this may seem a lot, remember that they represent you, arrange advertising through their networks, field interest and inquiries from buyers, arrange inspections, handle negotiations and sell your boat .

Importantly, a boat broker is there every day to answer enquiries, and usually are able to remove emotion from the transaction.

So in many cases, a specialist broker is the way to sell your boat.

However, if you have decided to test the market yourself.....read on.

Firstly, ask yourself:

What is your motivation for sale - do you want the best price for your boat, OR would you like to sell it quickly?

In many cases, the owner has made the decision to sell and doesn't want to invest time and effort to maximise the sale price. This often creates a bargain for savvy buyers who can tell that the owner will accept a lower price than advertised.

If you want to attract genuine buyers and get a good price, here's some things to do:

1. Consider the Time of year

You may find more buyers at the beginning of the boating season. If you can afford to wait, use the time to prepare your boat and get ready for the next boating season.

2. Shipshape: Clean and tidy will help to 'sell my boat'

Unless you always keep her spotless, give your boat a really good clean. Or pay someone to do it for you. When was the antifouling last done, and what are the anodes like?

Remove any personal belongings and polish the brightwork - it will make a difference.

3. An accurate description

Prepare an accurate description - make and model of all your equipment, sail inventory and accessories.  Providing full and accurate description is not just fair, but it's the best thing to do for a good result.

4. Good photographs of the whole boat

Show the attractive features as well as the areas where rust and grease are often to be found. The bilge, base of stanchions, surface of the deck and cockpit. Tell it like it is. You will gain respect and trust by showing the boat's faults. The potential buyer will see them anyway.

We'll use Boatshed Bourgogne as an example here. They always have complete descriptions and lots of clear images which have been taken by the broker at the time of listing.

Click on the image above to see how complete their listings are - description, images, now including Virtual Reality or 360 degree images.

From this type of ad, you gain a good idea about the boat, both inside and outside. (You may need to provide your email address to view all the images. I have never received unwanted emails from Boatshed.)

Importantly, these images always include a shot of potential trouble spots - the base of stanchions for any rust and the bilge and engine room floor for possible problems. This also gives an idea of how the vessel has been maintained.

How does this compare with some 'amateur' ads we've all seen?

5. Use video (s)

Take at least one video showing the actual condition of the boat. Two is better - one outside and one inside. These don't need to be professional videos. Most of us have a smartphone with a good camera which can take videos.

Tip: Always use the camera in landscape mode (sideways) and hold your elbows into your sides for steadiness.

Edit your video and upload to YouTube, as most online sales sites need a YouTube link.

Remember that the potential buyer may be some distance away and needs to decide whether to travel to look at the boat. A good video will help them make up their mind.

'Video is a huge help in boat sales allowing our prospective purchasers to "pre-qualify" boats before deciding to travel.' Graham Wharmby, Boatshed Bourgogne

Remember, the purpose of your advertisement is  reach potential buyers. It  has to provide a clear and accurate description of the boat, so that a buyer may decide to travel to see it.

Remember also that you wouldn't want to spend time and money to see a boat and then find it is in worse condition than the ad suggested.

So don't do it to anyone else.

If you have described the boat accurately and priced it fairly, then you should be confident in encouraging the potential buyer to travel. Further, depending on the costs involved and the price of the boat, consider offering to deduct the buyer's travel costs if the sale completes.

6. Have the engine serviced

Unless the engine is new, have your mechanic do a compression test on the engine. For an hour or so of his time, this is helpful information, and is an indicator of the condition of the engine.

Even on a sailboat, the engine is the most important piece of machinery and it should be in good order with regular, documented services.

7. Get all your documentation ready

If you haven't already, place all the boat's documentation in a folder - ownership, registration, previous survey, insurance papers, receipts for servicing, maintenance, painting etc

One client of mine had made a copy of his boat's original survey inspection report and had used that as a list of faults to be rectified, which he kept with receipts and other related documents. (As an engineer, he was particular.) When he asked me 'Can you sell my boat?', it was easy to show that the vessel was in good condition.

8. Set a realistic price

The market value of your boat (any boat) is the amount someone is prepared to pay you for it. Now.

How much you have spent is your business, and you probably won't get it all back.

Being able to show receipts for recent maintenance will help sell the boat, however that doesn't mean that all your costs will be returned.

What is a realistic price?

It's not hard to check your competition - all the other boats on the market at present.

Use a searchable database of boats for sale to see the asking price of similar boats, and also see what your asking price can buy.

Firstly, go to a large sales site like Yachtworld.com and search for boats for sale of the same make, model and year. How does your boat compare?

Then look at boats for sale for the same price you would like for your boat. Is your boat competitive?

Ask yourself: 'If I had the cash would I buy my boat at this price, or is one of the others on the market better value?'

If the answer is one of the others, then 'Can I  really expect to sell my boat at this price?'

9. Post your ad on several popular sites

If you have sold something on Ebay or Gumtree, then you can list your boat online. Just have the description, images and videos ready as above.

Then go to boat sales sites like Boattrader.com and press 'Sell your Boat' and choose the Enhanced or Premium package. These packages give a longer listing time and include more images ad videos.

Also, ask your boating friends about other online boat sales sites in your area, and list your boat on the busy ones.

Share your listing on social media and wait for the phone to ring!

Don't forget to cancel your boat insurance when the sale is complete and the boat no longer in your control. You may be entitled to a refund of premiums paid.

Sell my Boat - Summary:

With some preparation and effort, you can advertise your boat and find a buyer. If you're happy to invest the time to prepare your boat and describe it fully, are familiar with online advertising and comfortable with negotiating, then you should do well.

So if you're saying "Yes, I can sell my boat without a broker" follow these steps to improve your chances of a sale at a fair price.

Any comments? Please leave questions or comments below.