Deciding to sell your luxury motor yacht is a much more complicated process than simply hanging a “for sale” sign on her. If it was so easy, yacht brokers wouldn’t be in business!
If you have decided that this year will be the year that you put “your baby” up for sale, there are quite a few things you should be doing right now, to make sure your luxury motor yacht sells easily and quickly.
Dress her up, and turn her out
If you are going to sell your yacht, you must prepare her to be sold. First and foremost that means she has to be visually appealing.
Making your yacht look sharp, inside and out, is probably one of the most critical things you can do to help attract an interested buyer. That mean she not only needs to be clean, she needs to be scrubbed, waxed and polished so she shines so bright, you will wonder why you are selling her! You have to remember, most buyers who are coming to look at your boat, have likely already settled on a style and size of boat they want. They may have even narrowed it down to your make and model. That means they will also be looking at other very similar yachts to yours. You must do everything you can to make her standout from the crowd.
Appeal to a buyer doesn’t stop with the eyes. The sense of smell is equally important. No matter how clean your vessel looks, if she also doesn’t “smell clean,” you will turn buyers off.
Cast off the Clutter
Think of making your motor yacht “boat show ready,” even if you do not intend to sell her at a show. That means think like you will have a bunch of people coming on board, and poking around in every cabinet and cubby. Remove any clutter and unnecessary items. Leave enough “personal” items so that the boat looks “lived in,” but in a “homey,” not cluttered kind of way.
As you are decluttering, be sure to leave any items that should be there and that you are planning on including in the sale, and removing any that you are not going to include, such as tenders or personal watercraft. You potential buyers will assume anything they see on the yacht, is included in the sale price.
Gear and Mechanical Considerations
It should go without saying that if you want your boat well presented, you need to be sure that all the equipment on board is in proper working order. Make sure the engines turn on, and sound smooth. Now is not the time to get “pennywise and pound foolish.” Make any necessary repairs. Leaving any problems you know of unfixed, will only come back to bite you in the inspection.
Now is also the time you need to start thinking about your asking price. Coming up with the right asking price for your yacht is an art unto itself. You can start by looking at what similar models to yours are listed for, or recently sold at.
You first inclination is probably to set a price higher than what you expect to get. But you are much better off setting a realistic price. The biggest mistake sellers make is to set a price that is too high, and not reflective of the boat’s true value, or the current market. Then they scratch their head and wonder why their boat is not selling!
Setting the right price to improve the marketability of your boat needs to take many things into consideration beyond the obvious things such as her model year and condition.
Most yacht owners have an overinflated idea of the true value of their boat. This usually is due to emotional attachment, and over estimating the value of upgrades.
Do I need a Yacht Broker?
If you are seriously thinking about selling your yacht this year the most important thing you could be doing right now, is to shop for the right yacht broker! Selling a motor yacht is a very complex transaction. Most owners will rarely have the time that it takes to show the vessel, let alone understand how to implement a marketing plan, and handle all of the reams of paperwork.
If your car breaks down you most likely will call a mechanic. If you are sick, you see your doctor, and if you get in legal trouble, you will seek the advice of your attorney. That is because you trust the skills of these professionals. In a transaction as complex as a luxury yacht sale, you also need the skills of a trusted professional looking out for your best interests.
A yacht broker will also have resources at his or her disposal that you simply could not have on your own, such as professional video listings.
A yacht broker can help you do everything you need to make your yacht sell quickly and easily. Yacht brokers have the experience to set the right price and to prepare and market your boat, so that you have a selling experience that is a “win-win” for you, and your buyer.
Understanding the best ways to sell your motor yacht can be confusing. If you would like to benefit from our expertise in these areas, or if you have any questions or comments about this blog post, do not hesitate to contact our Sales Specialists, or call us at (855) 318-6328.