So you’re ready to sell your yacht or upgrade your current yacht to a newer model, or maybe a larger yacht? Whatever the reason, chances are selling your current yacht is a top priority. Whether you enlist the help of a certified professional yacht broker or try to sell it on your own, we put together a list of tactics and top tips to help sell your yacht promptly. Check out our top tips to know for selling your yacht.
Of course, before listing your yacht for sale, a few things need to be done. Declutter, clean, and make the boat shine should be first priority. Your goal is to create a lasting impression for new potential buyers, and you only have one shot at a first impression. If needed, make sure you take care of any fixes or upgrades you can do to make the boat more valuable in the eyes of a customer.
Having all of your paperwork in order before listing your boat for sale is crucial. The completion of this step may determine whether your boat closes in one week or months from when you get an offer. Some types of paperwork include having a clear title, warranty information, any maintenance records, any recent surveys, etc.
The key to selling your yacht in a timely manner is largely in part to what marketing efforts you will use. You are going to want to market your yacht to as many people as possible. But, you don’t want just anybody looking at your listing, you want specifically targeted people who are interested in the yacht you are selling.
If you are not enlisting the help of a yacht broker to sell your vessel, some ways to strategize your marketing efforts is to utilize 3rd party sites to list your boat on. Some examples include Yatco and YachtWorld. Another way to target specific people is the use of Facebook or Instagram Ads. Utilizing ad space will require some SEO and target market expertise and is not recommended if you don’t have the experience.
One of the most important steps to selling your yacht is to ensure you take professional photos of your vessel, inside and out. You only have one shot to make a first impression, and to sell your yacht in a timely manner your photos need to be top-notch. Having a video created is also important when listing your yacht for sale. It could be a video walkthrough or a short video describing your boat and what makes your boat stand out over others. It is proved that more users on the internet engage with video content than any other form of content.
Before setting a price, you will have to do your homework and research on the current state of the market and its trends. If you are not using a professional yacht broker to sell your yacht, you most likely do not have access to current sold boat data or specific market trends that are available to yacht brokers. Researching similar listings is a good place to start if selling on your own. Compare these listing with your boat and from there come up with a fair listing price. Remember, just because you have sentimental value of your boat doesn’t mean a customer will think the same. To sell your yacht promptly, put sentimental value aside and look strictly at the facts and current state of your vessel.
Be sure to have realistic expectations based on the yacht you are selling and the market. It may take anywhere from one month to a year, to multiple years, to sell a boat online. Other factors include the time of year you list your yacht and the listing price.
Beware of scammers and do not waste your time on buyers who are not serious. Prequalify a prospect before a showing or sea trial to avoid lost time.
If you would prefer expertise to manage the sale of your yacht, reach out to a local yacht broker. Yacht brokers are certified and trained to assist you in the sale of your vessel. They have extensive knowledge of the industry, quality resources, and the experience needed to sell a yacht quickly. Check out our sellers’ guide to hiring a yacht broker.
The Galati name has stood for integrity and innovation for 50 years. Our knowledgeable and experienced sales and customer support teams are unparalleled in the yachting industry. We have over 5000 worldwide listings on our website and sell more than 500 boats per year.
Since 1970, our Sales Team has managed billions in yacht sales with our world-class customer support for both buyers and sellers. We have a thorough marketing plan in place and a team of professionals to help sell your yacht. Not to mention, a full business office readily available to assist. Purchasing or selling, you owe it to yourself to experience the Galati Difference. Check out how we can help you sell your yacht.