Should you really repair your boat before selling? The answer is really depends on the type of repairs are needed. If it is a very run down boat that you want to cash out of. Then lower the price and sell it quick. Get rid of liability. But if your boat is a nice luxury boat, with broken gear box or some mechanical problem. Then it is recommended you fix it. Otherwise one problem will make your boat seem like a run down boat that requires complete renovation.
You should also use your sense and sensibility to make sure the boat is in a good condition overall. Telling a boat buyer that the interior is run down but engines are perfect is not going to hold value. Make sure your boat over all is presentable and in a good mechanical condition. If you have done patch up work that looks ugly, that is not going to help you gain value. People are too smart to overlook cover up work. A good Buyer and Broker will lose trust if you do so.
You have to think if your boat is worth HKD 2 million for example. It might need HKD 100,000 worth of general and interior work. You think this will keep the value. Then do it. Because if you don’t, then you are going to get offers of HKD 1.5m. It is not easy for customer to buy and renovate. Its is worrying factor for buyer.
Again, you have to look at more variations in this. Sometimes the market status affects everything. But if there are similar boats in the market and you ensure that your boat is in a good condition, then you will get a better offer. A boat that is quickly ready to be used is very attractive to buyers. A boat that needs repair is going to attract bargain hunters only and they are tough negotiators.
Tips : Interior damaged by leaks, need to be fixed and re-polished. Engine room bilges should not have water and oil. The lesser the rust in engine room the better it is. Clean engine room is going to attract serious buyers. It also gives a good selling point to the broker.