Consigning a boat

  • walleyesforme
    Posts: 357
    #2272314

    Has anyone done this? What are the pros and cons of selling a boat like this? I’m not 100% sure how it works but the thought of selling a boat without having to deal with all the tire kickers, scammers and people in general sounds awesome. Obviously it comes at a price but is it usually a set amount or a % or how does that usually go?

    Huntindave
    Shell Rock Iowa
    Posts: 3088
    #2272316

    It would be best to ask these questions of the consignment seller you are considering. Every business is going to have their own policies and rates.

    Eelpoutguy
    Farmington, Outing
    Posts: 10378
    #2272317

    I have my old pontoon on consignment at the local Marine. They take care of everything including cleaning it up. At a charge of course.
    They charge 10% and that includes all the title work.

    super_do
    St Michael, MN
    Posts: 1085
    #2272318

    I sold a boat years ago on consignment. They charged 10%, but got $1,000 more than I had paid for the boat 5 years prior. Totally worth it to me.

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272354

    Percentage, usually 10% plus they might have a minimum if it’s older.

    walleyesforme
    Posts: 357
    #2272356

    That’s what I was looking for. I had no idea how that worked. I’d just trade it in but places seem to be all over the place on trade in value and that definitely doesn’t seem like the way to go. I get everyone needs to get their money but 10% seems lots better than what a couple places offered for trade in. The dealership in town had a nice used Ranger but they said they won’t take a trade in on a trade in but my boat would be very easy to sell as it’s something that would be desirable for the location we are in and it has Yamahas on it. I’ll have to see if they would do the consignment thing for me and get some details.

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272371

    Where are you located and what are you selling?

    JoeMX1825
    MN
    Posts: 17753
    #2272375

    Its just a set amount of % of sale, differs by dealer…. All they will do is put your boat out in the back with other used stuff and then draw up a bill of sale and collect the cash or check IF it sells…. Its just free money to them and obviously they will first push buyers to their new stuff vs yours…

    Another benefit is they can push potential buyers to their Service department if they want it checked out before buying…

    Consignment is a con imo, but if you truly desire not to do anything other than collecting a check (minus their fee) then go for it…

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272377

    It’s not a con. It’s a buffer between buyer and seller. They perform a service that some people don’t want to do.

    JoeMX1825
    MN
    Posts: 17753
    #2272380

    It’s not a con. It’s a buffer between buyer and seller. They perform a service that some people don’t want to do.

    but they dont do anything other than providing real-estate to park your boat on, its a con in terms of if you think they are going to actively try to sell your boat…thats what I meant…

    Eelpoutguy
    Farmington, Outing
    Posts: 10378
    #2272381

    It’s a pro for me.
    No phone calls from potential buyers.
    No showings
    No paperwork
    No Haggling
    They just sell it and give me my money. easily worth 10% to me.

    buckybadger
    Upper Midwest
    Posts: 8125
    #2272386

    Pro’s for sellers have been highlighted:

    No wasting your time
    No calls and tire kickers

    Each place is a little different depending on circumstances. If you try to sell through a huge place there’s no real incentive for them to sell your boat over their new inventory with better margins. Smaller places or places that regularly run consignments are more incentivized to make it happen in my opinion.

    We bought our current tritoon from a marina in the cities on consignment. I saw the ad posted, called and told them I’d be coming for a look with a cash offer. They told me it was a 2018 with an unknown number of hours and they hadn’t detailed it yet, but I said I didn’t care. When looking at it I found the current registration and quickly realized it was a 2020. I asked if they’d run the hours on it for a non refundable $50 when I went for a beer and lunch. Came back to a printout showing 51 total hours and made them a cash offer of $1800 less than asking. The guy said he’d text the owner…and within 20 minutes we had a deal on his “2018” tritoon. They didn’t even empty their stuff out of it. Came with fenders, ropes in the packaging, a half dozen brand new life jackets, 2 used ones, some sand anchors, and an RTIC cooler that looked new. After the fact I asked the guy at the marina and he said it was a divorce deal from a quite wealthy family on Minnetonka that had the marina come get it from their lift and sell it without so much as seeing what was left in it.

    walleyesforme
    Posts: 357
    #2272395

    Where are you located and what are you selling?

    International Falls/Rainy Lake. It’s a 2011 20’ Crestliner Tournament Series.

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272397

    Was it a 2050 I saw advertised?

    walleyesforme
    Posts: 357
    #2272400

    Was it a 2050 I saw advertised?

    It’s a 202 Tournament Series. Pretty much Crestliners version of a pro v. They are called the Raptor now. I haven’t listed it or tried to sell it. Just thinking out different routes to go. Ideally it would be a quick turn around so we wouldn’t be without a boat for a long period of time which by the sounds of it might be the case with the consignment thing so maybe that’s not the way to go for us. Trade in would be the fastest way to get a different boat but that seems almost foolish to take a hit that big. Several places I’ve asked have straight told me we will give you x amount but you’d get way more than that if you sold it.

    big_g
    Isle, MN
    Posts: 22418
    #2272551

    10% consignment on something you have 0% investment in, is good easy money. When a dealer sells a new boat, they have floor plan, prep and advertising costs, commissions, most are probably happy to clear 10%. coffee

    Dal
    Posts: 16
    #2272641

    Sold our 42 ft 5th wheel on consignment last summer. Cost us 10’ish% and it was worth every penny not having to have it parked in the driveway, to be hanging around all the time for drive-by showings and wasting time with with tire kickers and low-ballers. The consignment guy is well known in the area and I got a good price and the 5th wheel was sold in a week.

    bigcrappie
    Blaine
    Posts: 4304
    #2272655

    Its prime time right now, better get for sale to get the most out of it.

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272660

    Its prime time right now, better get for sale to get the most out of it.

    Agreed. I in the last 2 weeks have bought a RV and Pontoon. Both I felt were priced fairly and in good condition. In addition I also personally looked at and passed on 4 boats that I felt were over-priced. Think long and hard on the goal of selling your boat. If the goal is to get it gone price it fairly. If the goal is to pocket a bunch of money plan on it taking longer to sell.

    Also consider where you will consign it. The further south of International Falls the better. Lots of guys won’t make a long drive to save a few bucks. The closer you can get to the Metro / Duluth / Brainerd area the better. Even Bemidji wouldn’t be bad.

    Good luck.

    buckybadger
    Upper Midwest
    Posts: 8125
    #2272704

    Dutch any pictures of the new rigs???

    buckybadger
    Upper Midwest
    Posts: 8125
    #2272708

    waytogo

    Always love seeing pictures of different rigs

    Dutchboy
    Central Mn.
    Posts: 16638
    #2272716

    Seen one pontoon you’ve pretty much seen them all.

    Eelpoutguy
    Farmington, Outing
    Posts: 10378
    #2272747

    You are correct. rotflol

    The USS Dutchboy

    Attachments:
    1. The-USS-Dutchboy.jpg

    walleyesforme
    Posts: 357
    #2272752

    <div class=”d4p-bbt-quote-title”>bigcrappie wrote:</div>
    Its prime time right now, better get for sale to get the most out of it.

    Agreed. I in the last 2 weeks have bought a RV and Pontoon. Both I felt were priced fairly and in good condition. In addition I also personally looked at and passed on 4 boats that I felt were over-priced. Think long and hard on the goal of selling your boat. If the goal is to get it gone price it fairly. If the goal is to pocket a bunch of money plan on it taking longer to sell.

    Also consider where you will consign it. The further south of International Falls the better. Lots of guys won’t make a long drive to save a few bucks. The closer you can get to the Metro / Duluth / Brainerd area the better. Even Bemidji wouldn’t be bad.

    Good luck.

    That’s pretty much the plan. The boat has spent most of its life on Rainy exploring and fishing and we do lots of both so the boat has I guess what’s considered to people in the Midwest higher hours and it’s used but not abused so it will definitely be priced accordingly.

    Eelpoutguy
    Farmington, Outing
    Posts: 10378
    #2274869

    Took my Pontoon to the Marine, they acid washed the toons and motor and repainted the area that got scorched.
    At first we decided on $29,500. This weekend I saw he listed it for $34,500.
    I got a call yesterday that there was an offer. I’ll bank $28,500.

    Yeah, Consignment was a no-brainer for me.

    Now, point me in the direction of a Razor dealer.

    Mike Schulz
    Osakis/Long Prairie
    Posts: 1213
    #2274879

    Now, point me in the direction of a Razor dealer.

    rotflol waytogo

    Joe Jarl
    SW Wright County
    Posts: 1920
    #2274912

    Now, point me in the direction of a Razor dealer.

    Try Willey’s in McGregor. They’ve been great to work with in any of my dealings.

    Eelpoutguy
    Farmington, Outing
    Posts: 10378
    #2274913

    Thanks Joe –
    I just checked their inventory and waytogo

    Bearcat89
    North branch, mn
    Posts: 20222
    #2274916

    Thanks Joe –
    I just checked their inventory and waytogo

    Make sure you buy the electric one. That way when she burns, she really burns.

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