Getting Rid of an Old Boat

How to Get Rid of Your Boat.

Your boat has served you in good stead for many years.

You’ve gone on many memorable expeditions, and had some great times.

But you’ve decided you need a new boat.

How can you retire your beloved boat with dignity?

The good news is that there are several options.

The first, most obvious, choice is to sell.

One very important thing to keep in mind is to pick the right price.

A smart way to determine the price is to locate similar boats for sale and see what the asking price is.

You can check classified ads, and speak to dealers to get a few perspectives.

It is not recommended to go purely by blue book value, but you can use it to show perspective buyers.

Then you have to decide how to sell it.

Selling it yourself can make the most money, but it’s a lot of work and can be frustrating.

Make sure that your boat’s in top shape, and sell at the beginning of the boating season.

Try to advertise as widely as possible, making use of local newspapers, the internet, yacht club bulletin boards, and a “for sale” sign on the boat itself!

Another option is trading it in, which will probably get you the least value.

However, don’t forget to shop around with different dealers.

There are also businesses that give cash for boats, and resell them.

While you probably won’t get the money you would have gotten if you had sold your boat directly to the final buyer, it can be quick and easy.

Finally, you can go through a broker.

They typically take 5 to 10 percent commission, but the hassle is much less.

Having your boat in tip-top condition, both aesthetically and mechanically, can’t be emphasized enough!

If you don’t want to sell it all, there are some more choices.

You can have it scrapped, but this costs money.

One salvage yard contacted gave a ballpark figure of $250 per ton, but it varies based on location and other factors.
This fee does include the towing.

There are also sites such as Bone Yard Boats, where you can advertise to give away your boat. (It’s free if you’re giving away your boat.)

Finally, you can donate your boat at

A number of charities, like Kars4Kids, are quite happy to take your boat and use it for their causes.

This option is advisable if you’re looking for a tax deduction rather than cash.

Plus, you have the added benefit of helping a good cause!

Charities will not always take every boat, though.

Towing the boat is expensive, so the charity will try to determine if the boat’s value justifies the towing costs.

They might ask the donor to subsidize the tow if the boat is very large and not in great condition.

But, if you’re willing to bring the boat in yourself, they will likely take the boat.

The tax deduction is usually determined by the amount that the charity sells the boat for.

Whatever you do, good luck and safe sailing!

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