Important Yacht Seller Advice Before Listing Your Yacht for Sale

Posted October 1, 2017 in Brokerage & New Build by Janine St.Denis

In your opinion, what is the most important thing a yacht seller should do before putting the yacht on the market for sale?

“Before placing a yacht on the market, a seller should make sure the yacht is cosmetically clean and well maintained with all service up to date. Minimal personal items should be visible. The yacht’s location should be easily accessible with arrangements made with the crew or marina/boatyard staff ahead of time in the event of last-minute showing requests. First impressions are lasting impressions, so it’s important to put your best foot forward each and every time.” Sales Broker Jonathan Chapman, Newport, Rhode Island

Jonathan Chapman | Northrop & Johnson

“The seller should arrange to be represented by a professional brokerage house. He should do research to find a broker that is the most specialized for his type of yacht. Considering that, most of the time, many sellers want to set a higher price than a buyer would be prepared to pay, the role of a professional broker is extremely important to help the seller to define the asking price. The buyer will have prepared invoices and surveys of works; the seller will defend the asking price based on the amount of money he has spent “creating the perfect yacht;” but the broker, although sympathetic and understanding, must be objective and show the seller the true current market value for his type of yacht. Brokers also should be reasonable with sellers. If the seller sets the price too high and the broker accepts just to get the listing, it’s very likely that within the first year, the broker will ask the seller to reduce the price, which leads to a considerable amount of time on the market wasted. Finally, I always advise that the seller do a survey on the yacht if she is not in class. Not only will it benefit the owner, but it also will benefit a buyer who will get more-or-less a second opinion. Buyers usually trust these surveys, if they’re not too old, and this could help move along the buying process.” Sales Broker Jochen Brill, Palma, Mallorca

Jochen Brill | Northrop & Johnson

“In order to achieve a successful sale, three criteria need to be satisfied. The first is condition. The yacht must show better than she ever has. The saying about never being able to make a second first impression resounds with yacht sales. Buyers have hundreds of similar yachts to choose from, so you need to make sure yours stands out in the crowd. The second is location. The placement of the yacht is crucial. Here’s the scenario: when buyers come into town to meet with the broker and view yachts, they’re typically tight on time. The broker will have a selection picked out and if your yacht is inconvenient or too far away from the main hub, it’s the first to be eliminated. The third criterion is price. Gone are the days when buyers relied solely on their brokers’ advice regarding value and pricing. In this information-rich world, buyers have at their fingertips huge databases to establish whether a yacht is correctly priced, which makes getting it right more important than ever before. The reality is, if you’re overpriced then condition and location are irrelevant because no one will want to see the boat. If condition or location are off, buyers will use this to justify reducing the price with aggressive offers.” Sales Broker Philip Bell, Fort Lauderdale, Florida

Project Magellan 2020 JFA MLS #236367 | California - West Coast ...

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