From time-to-time AZBW/Western Outdoor Times will bring you information provided by Jack Buckley. Jack has many years experience in the boating world.
Jack has been a Southern California Yacht Broker for over 10 years. He has been the California Yacht Brokers Association President and is currently on the Board of Directors as the Past President. He is also a nationally recognized, Certified Professional Yacht Broker. He currently works with Cruising Yachts on Harbor Island. Readers interested in contacting Jack may do so at 619-778-2998 or Jack@SCYachtSales.com.
Improve your Chances when it’s Time to Sell your Yacht?
In this market a seller should do all he can to be noticed by the limited number of buyers out there looking to purchase boats. Most important is that the seller should find a broker that he likes and is professional, and give that broker an exclusive listing to sell his boat.
A broker with an exclusive listing will work harder and promote the boat to other brokers for possible cooperation than he will with a non exclusive listing. Some sellers in the past went with non exclusive listing with a few brokers around the state or country in an effort to increase the exposure of their boat, but in this age of internet advertising, a seller’s boat will be exposed and promoted all over the world and information about the boat along with pictures and videos will be available to brokers and potential buyers right in their homes and offices. Give your loyalty to one broker and let them do their job of selling your boat.
Remember finding a buyer is only the first part of the job a broker will do for a seller. The deal still needs to be negotiated and the sea trial and surveys performed. Selling and assisting are still a large part of this process and thousands of dollars can be lost by not having a broker to watch over the rest of the steps in the purchase process. The Broker will help the buyer find suitable financing and insurance as will as make the purchase of their new boat a pleasurable experience, which is very important to helping your boat get sold.
You can also increase your chances for a quick sale at a good price by cleaning and fixing at least the minor problems with your boat. Cleaning is a very good investment of time and some money to help present your boat to prospective buyers in the best light possible. No one will be impressed with a dirty and moldy refrigerator or smelly heads and bilges. I recommend cleaning out the clutter and make your boat as “like new” as possible. Remember those new boats in the boat show? Empty the cabinets, closets and drawers, beds should be made and the dining table set. Navigation stations cleaned out and a fresh chart ready to go.
If you are still going to use the boat while it is being shown for sale, only leave the bare minimum of your personal items on board and make sure when the boat is left, it is cleaned up and tidy and ready to be shown by the broker. Check the small items you have been putting off, like the burned out bulbs and broken door knob. Have the sails washed and the carpets cleaned. Clean out the bilges and make them as dry as possible. Let the broker know about any system or equipment that does not work so that he can help you get it fixed or at least inform the buyer upfront so that it does not become a problem at survey and result in you having to accept a repair concession.
Any boat will sell and it is only price and condition that will cause it to sit on the market. Have your broker provide you with recent “sold boat” information and price your boat accordingly and with additional adjustments up or down depending on an honest determination of its condition. Selling prices of boats are less than they were a few years ago and there is no guaranty that they will rebound in the future. We are all experiencing a new “normal” now. The value of your boat has nothing to do with how much you owe on it or how much you love it, and very little to do with how much you have spent on it in the last few years.
Market value is what the next buyer is willing to pay. Supply and demand is very much at work in the yachting industry. So, do the most you can with what you have and you will be boatless sooner than you think. The best part about selling your boat is, you can now be the buyer on your next boat.
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