Selling a boat can be an extremely difficult, stressful and lengthy process, but luckily there is a simple and effective alternative. Donating your boat to a charity or organization rather than selling it outright can give many of the financial benefits of selling your boat, with additional benefits as well.

It is not an easy task to sell a boat; the boat seller needs to deal with haggling, advertising costs, shipping costs, and any storage and registration fees accrued during the interim. Many boat sellers end up selling their boats at an extremely undervalued price simply to expedite the process. In addition, during a poor economy the market for used boats shrinks substantially, and it can take a very long time to find an interested buyer.

If you donate your boat, the charity and organization takes care of much of the processing, as it’s in their interest to make the process as fast and painless as possible. Not only do you get the satisfaction of knowing that your money is going to a good cause, you may come out financially on top as well. While selling a used boat often means you have to accept a low offer, a boat donation is tax deductible. While tax deductions can vary depending on the individual, in general up to 100% of the value of the boat can be deducted. Many charities and organizations will help in figuring out the market value of the boat.

Selling a used boat also comes with additional hassles, such as having to arrange shipping to another state, not to mention the continued maintenance on the boat while you try to sell it. A charity or organization will arrange these things for you promptly, so you are not left with additional, hidden costs.

Donating a boat rather than selling is ideal for the boat owner who values their time and wants to make a difference. It can be more financially beneficial than outright selling for a boat owner with high tax liability, and it is a fast, stress free way to get rid of an old boat that you no longer desire while helping others in need.