Selling a yacht in Europe may sound a simple voyage. After all, cruising on the Mediterranean is a favorite pastime, and for boat-lovers, yachting is a real passion. For those seafarers who live aboard, even if just some of the time, yachting is beyond an enjoyable interest and is a way of life.
While the Mediterranean promises sailors hidden treasures as they explore beautiful locations, the secret to reaching yacht sales success is well-plotted navigation.
If you want to sell your boat, then relying on a buoyant market may not be enough. The yacht sales market moves fast, and you need to set your compass in the right direction with some successful sales tips; marketing your vessel in the right place, to the right market, at the right time, not to mention in the right way.
A yacht is a home on the water: Even if your yacht for sale is a pleasure craft for day trip or overnight cruises, approach it as a water-bound property asset. If you were selling your home, you would ensure it looks good enough to appeal to potential buyers and take proactive steps to reach those purchasers too. Too many boat owners advertise a yacht for sale in such a subtle way that even if it is a spectacular ship its saleability gets lost in a market that is often full to brimming.
Information is attractive: When you are buying a car you like to know the number of previous owners, the service record, and any upgrades or repairs. In other words, a detailed history of past and current status. Collate a detailed list of your yacht’s specifications and accompany this with quality photos or even a short video or virtual tour. This way, prospective buyers can see what they hopefully will want to buy. The more information, the better and include not just electronics and systems on board but details about sails and every part of the yacht.
Ship shape and Bristol fashion: Declutter, clean, and touch up any paintwork or interior aspects that make your yacht look under par. If you want to create an as-good-as-new image that is sharp and saleable, then it may be worthwhile giving your yacht a little TLC in the upkeep department. First impressions count in sales.
Think like a buyer: If you are selling a yacht that means that at one time you bought it. Think back to what appealed to you about your yacht. If you are marketing to first-time buyers, then understand that investing in a boat is a big decision, and buyers can be nervous about whether they are making the right choices. Reassurance comes with pre-empting their concerns and questions and being ready with some clear and direct responses.
Present to the right yacht buyers: The yacht sales market is large and yet incredibly niche. You may find a buyer from Europe or anywhere else in the world, and when you do then having an online presence that is professional can seal the deal. A specialist agent can pinpoint the right avenues and contacts to penetrate serious buyers. High-quality photos, videos, and written information, then need to be well presented. You want to target serious buyers and not the mass of wannabe buyers for whom buying a yacht is only a dream.
Be organised: To inspire trust in buyers you need to be on top of all documentation pertaining to the sale. This means being able to present any necessary paperwork at a moment’s notice. Having the title, registration, and records to hand can help a sale, and you can include any manuals for onboard facilities and warranties too. Without this, a buyer may start to suspect that you are not organised in other areas, such as practical maintenance, and this can lead to mistrust.
Is the price right?: As with any asset, a yacht is only worth what buyers are prepared to pay for it. On top of this, you have to consider how quickly you want a sale and any costs that will need to be covered in terms of marketing as well as maintenance and docking fees. There may be other costs too such as time and energy in dealing with would-be buyers. If you weigh up the market value against any ongoing expenses, you may decide to amend your asking price to hit the optimal profitability level. It can be a good idea to seek professional advice from an industry insider on this.
Spend on pre-sales wisely: Be clear that any spending should only be made if it increases the speed of a sale and gives you some return on investment. While your yacht may need certain upgrades, it is better, to be honest with any potential buyers about this and reflect this in the asking price if you have no intention of spending on renovations. Or will an upgrade push the asking price up and realistically attract a buyer more readily? As in the case of a home for sale, some investments simply do not reap the rewards to make them worthwhile.
Why are you selling?: Buyers always feel more surefooted about a yacht purchase if they know why an owner is selling. Are you upgrading or perhaps downsizing? Has your life situation changed or is there a reason you are abandoning yachting for pursuits on terra firma? You do not have to divulge every detail of why you are putting up the ‘For Sale’ sign, but giving a little background history and narrative can help create trust and a sense of relationship.
Stress-free selling: Marketing your yacht for sale and dealing with subsequent buyer contacts can be time-consuming and incredibly involved. Do you have the time, energy, and expertise? While you can follow the tips above when it comes down to presenting your yacht in the right way, could a broker or agent offer the most direct sales route yet? Advice and action can lead to better results.