National Boat Buyers specialises in purchasing second hand boats – power or sail – that owners are looking to sell quickly, but how does the process work? Here the team explain how they came to the final valuation of a 15-year-old boat after its owner had decided to sell.
We made our way down to Lymington Marina to inspect a 2008 Sealine SC35 after our valuation was accepted by the owner. Whilst we understand that all boats have a small list of issues requiring attention, we want to share with you some areas that we look at whilst inspecting boats we purchase.
VISUAL INSPECTION
After a quick glance it was obvious that the boat had been neglected and unused for some time. We found that the decks were slippery with moss, the canopy covered in mould and inside the cabin was very damp with signs of mildew in all areas.
We continued our inspection in the engine compartment and could see the bilges were contaminated with oil and diesel. The source of this looked to be a blocked crank case breather and a leaking fuel filter. Ultimately the engines would require servicing. The engines fall in line cosmetically with the age of the boat with signs of corrosion as to be expected.
After carrying out our visual inspection we started both engines and ran them up to temperature, engaging forward and astern gears. All engine instrumentation read as expected and the hour meter matched the application form. The cockpit cushions and canopy showed signs of age and would require replacement within the next season or two. This is to be expected as the owner had rated their condition as 5 out of 10.
IN THE CABIN
Moving into the cabin there were signs of excessive wear and tear, the upholstery required replacement in the saloon and the galley cupboard doors showed signs of delamination. The galley taps and door furniture were also corroded. However, all appliances and systems powered up.
During the time spent onboard we noticed a smell of sulphuric acid which led us to the leisure batteries located in the aft cabin. These were found to be hot and gassing, and we turned off the battery charger and isolators to prevent a dangerous situation occurring.
Overall we felt the boat was generally described well, but we came across a number of issues that the owner had not been aware of. So, we were in a position to make a minor revision to the original valuation to take these unknown findings into account and, if acceptable and ownership paperwork was validated, we could transfer the funds and complete immediately.
Top tips for selling your boat
First impressions are everything!
Make sure the boat is clean and tidy throughout;
Make sure you have the correct paperwork including proof of ownership, builders and VAT certification;
Remove all personal possessions
Ensure the engine compartment is clean and free of oil / fuel traces;
Keep machinery maintenance within manufacturers’ guidelines;
Batteries charged;
Be realistic with your valuation.
