Need advice on how to sell or walk away from my boat

Especially after posting it on the internet, joking or not.
 
OK, old thread but I'll post another comment for when this might help someone doing a search. NEVER allow the boat to be repossessed by the bank. I am in a similar situation (up-side-down) and my banker (collection guy) advised me never to do that. He said the bank will turn it over to a repo broker who will sell it for far less than I could sell myself (often to a friend who re-sells and splits the profit with the repo man) and I would still be liable for the difference on what the bank gets from the sale and what I still owed. They can file a lean against my house etc. Its in the fine print of the loan documents. Personally I think the home equity loan is the best option if your credit is still good.
 
Can't we just add the op to another hole in the water club?
 
What a difference 5 years makes! In 2012, we were looking at a 33% reduction in income in our household and were trying to sell our Silverton. The boat that we paid $84K for with a $125K survey value in 2007 was unsellable at $50K in 2012. We watched a few neighboring boats get repossessed. Our relatives that said, "You paid cash for your toys, right?" were in full "I told you so" mode. Fast forward to 2017, and that boat has changed hands twice. In fact, it just sold in under a month this last time.
 
Those were scary times. There was a local boat repo operation that had to expand twice to accommodate all of their inventory. They took my 50-amp power adapter when they snatched my neighbor's boat. They were not only un-apologetic, they were rude about getting it back to me. Fast-forward a few years: I don't think they're even still in business. Now that's a company that I enjoy seeing fail!
 
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