Three Reasons to Sell Your Boat Before Winter

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Well, it's officially the end of the navigational boat season. The days are getting shorter, the weather is getting colder, and boats are getting shrink wrapped and put away for the winter. For some, that means getting a jump on plans for next summer or reflecting on all the great memories made out on the water this year, but for others there might be a different thought lingering in their head - I wonder if I should sell my boat?

There's a long list of reasons to consider selling your boat before the snow starts to fall but we'll sum up most of them with three things to keep in mind.

1. Winterization and Storage Costs

First and foremost, we all know that our passion isn't the cheapest one out there. In the summer months there's fuel, gear, rigging, slips, and so on. As the season ends though, there's many other costs that can potentially add up. The bulk of those costs, for most, will be winterizing and storing the boat until everything starts to thaw out in spring. Depending on the boat, this can mean thousands of dollars spent for specialized services such as shrink-wrapping, haul-outs, transportation, acid washing, and labor for any scheduled maintenance to be completed. Then spring comes and most of those processes have to be re-done or un-done.

On top of that are the storage fees. Some people have the opportunity to store their boat in their garage or at their house, but for the rest, the cost of storage can sometimes come as a bit of a surprise. From the more economical option of having your boat stored outside under shrink wrap to the more premium option of indoor heated storage, none of it is cheap.

Selling your boat before the winter months can end up saving quite a bit of money that you can either put right in your pocket or use towards a different boat for the next season.

2. Unknown Future Market and Boat Value

This year was a very strong market for all recreational industries. That doesn't mean that next year will be the same. With so many boats sold this past season there's a possibility that the market has become saturated and will slow to a halt come spring. One thing is certain though - depreciation. Each year that passes, the value of your boat goes further down. Just like a car. When January hits, that boat is officially one year older and retail values will mirror that with a lower price.

On top of that is the cost to hold that boat over the winter. Some people may have paid a boat off already or purchased in cash outright, but for the rest, there will still be payments due on that loan each month even though you can't use the boat.

Selling now means that you'll get top dollar for your boat before it's another year older. Couple that with not having any payments and the money you could save might be significant.

3. High Demand for Used Boats

This year started with many unknowns for the boating industry. The boat show season came to an end and then we were faced with something that none of us saw coming - a world-wide pandemic. With many companies forced to close their doors and those that could stay open facing massive delays the market didn't have much confidence. Then, unexpectedly, we saw a massive surge of people looking to buy boats as a replacement for activities that were being canceled and as a way to safely spend time with their family.

With the surge in business came a unique issue - boat dealerships across the nation ran out of inventory completely. While many are in the stages of re-stocking their showroom floor with new boats, there is still a huge supply and demand issue. We have used-boat buyers and we don't have enough used boats for all of them.

Hearing that makes it sound like it'll be simple and easy to take a quick cell phone picture of your boat, post it online, and have it sold the next day right? Not the case. It's getting pretty late to consider brokering and the market takes a steep decline as soon as summer ends. Besides that, there's just not as many viable options for selling a boat privately as what people think. Craigslist has become slow and dated, Facebook Marketplace is a favorite for scammers and tire-kickers, and the big listing sites are getting more and more expensive.

That's where, if you're looking to sell your boat before winter, Lakeside Marina can help. We are looking to buy boats and we can make it a fast, easy process for any seller. We're prepared to carry inventory over the winter if we need to and that makes it easier for us to buy this late in the season.

If you're looking to sell your boat (especially 2005 or newer) we can offer the following: