| Most yacht owners face the day when it is time to | | | | Remember that you can pay now or pay later....but |
| move on - whether it is moving up, moving down or | | | | you will always pay & later always costs dearly. |
| moving out. Wise sellers will increase the odds of their | | | | Ensure that your broker takes care to market the |
| yacht selling and for a better price by thinking like a | | | | boat with good photography and a straight-forward, |
| savvy buyer. Here are some proven tips to help the | | | | comprehensive description of the boat; clearly listing |
| process: | | | | the attributes for the prospective buyer. The boat |
| As a potential buyer, I look for someone who has | | | | should be predominantly marketed with a variety of |
| cared for their possession, rather than trying to figure | | | | popular internet sites, as well as periodical publications. It |
| out how many problems I will be inheriting upon | | | | should be docked at an attractive setting and easy to |
| purchase. "Curb appeal", (meaning the first impression | | | | get on and off of. Also consider locating the boat in a |
| upon walking aboard) is everything. The easiest way | | | | popular area for boating shoppers, such as South |
| to keep a prospective buyer interested can be as | | | | Florida; rather than an obscure - hard to get to area. |
| simple ensuring the boat smells good (has no offensive | | | | If you want action, try to price the boat at the front |
| odors such as mildew, holding tanks, diesel leaks), clean | | | | of the market. Look closely at the competition to see |
| and uncluttered interior (especially renewed or cleaned | | | | how your boat stands up. Neglected boats tend to be |
| carpets), clean and waxed exterior, and a tidy and | | | | priced at the low end. If you are not getting showings |
| non-corroded engine compartment. Try to look at the | | | | (and doing everything else right), the market is trying to |
| interior through the eyes of the wife. While most sellers | | | | tell you something. Many sellers resolve not to move |
| will argue that buyers should be able to look through | | | | off their price and the boat languishes on the market |
| these things (since they are going to make a low offer | | | | for years, costing them not only the cost of maintaining, |
| anyway); it really boils down to how the boat stands | | | | insurance, dockage, etc, but also depreciating far lower |
| against the competition. Boats that give off an "air" of | | | | than what it may have sold for at an earlier stage...if |
| neglect often turn away real buyers and only | | | | only it were priced at the front of the market at the |
| encourage "bottom feeders" with ridiculously low | | | | beginning. |
| offers (the guys who can really 'see through things'). A | | | | Offer creative financing and consider taking trades |
| boat with no apologies is one who will see the best | | | | (a good broker will be able to assess the sale-ability of |
| offers. | | | | the trade) With banks tightening the rules in today's |
| Pre-Survey the boat by a professional, known | | | | economy, it is often difficult for buyers even with good |
| surveyor. This won't take place of the pre-purchase | | | | credit to secure yacht financing. However, it is easier |
| survey that the buyer will do, it will illuminate potential | | | | for an owner to secure credit in such a way that will |
| issues that will likely show up; giving the seller time to | | | | benefit both parties...often resulting in a deal that would |
| take care of them in a cost-effective manner ahead | | | | never happen otherwise. |
| of the Buyer's survey. While it is hard to predict how | | | | Unfortunately, most boats become for sale when the |
| and which issues will affect a sale; it is certain that the | | | | owners tire of them and it often shows. Making the |
| owner will save money by taking care of issues (no | | | | effort to focus on the 3 critical sale-ability |
| matter how small) ahead of time rather than having | | | | factors...condition, location and price will not only |
| "estimates" of repairs (often in the form of "dartboard | | | | increase the chances of selling but often achieve a |
| pricing") being deducted from the purchase price. | | | | more substantial return. |