Should I Sell My Boat Without a Broker?

I have been trying to sell my boat for almost a year, but in this economy, there has been little interest from prospective buyers. Last week, I received a letter from someone who said he had found my name in the Coast Guard database for documented vessels, and that he was interested in buying my boat without using a broker. He explained that we could both save money under this proposal, since I would not need to pay a brokerage commission. His proposal also included a complicated financing arrangement that called for him to make payments to me at an attractive interest rate while I retain title, and he suggested that this would save additional money since I would not need to hire a surveyor. I am a little nervous about the idea of selling the boat without the assistance of a broker, but I do need to sell the boat. What do you see as the pros and cons of the proposal? Brokers get a certain amount of bad press during any economic downturn, simply because it takes longer to get things sold, and they are an easy target. However, if you are dissatisfied with your broker, I believe that...