ARE YOU SELLING YOUR MOTOR YACHT OR SAILBOAT?
Our tips on how to prepare your yacht for sale
Are you ready to sell your yacht and want to know more about how to get the best price? In total, there are two variables that sellers can adjust to ensure their boat is sold on time. These variables are the price and condition of the yacht. Asking for a price above what the market will pay is a mistake we as yacht brokers often see from sellers. This simply makes comparable boats with lower prices look like bargains.
It is important to research similar boat types first to determine the market value of the boat. This is one of the many reasons why it is very advantageous to hire a professional yacht broker. Your broker will help you determine an exact quoted price that will lead to numerous inquiries. In terms of condition, it can be difficult to know if your yacht will appeal to a wide range of buyers, especially if you have owned it for many years. It is important to know that it is the first impression that matters. Try to remember why you fell in love with the boat when you bought it.
Below are some practical tips that are often overlooked to help you prepare your boat for sale and get a better price. This is not a comprehensive list of all options, but an overview of our basic recommendations. Contact us to discuss the details of your boat to find a more individual approach to preparing your boat for sale. Our experienced brokers offer a market value analysis for your ship in its current condition and provide detailed information on how to get the best price.
Review and Fix Mechanical Problems
First, you must ensure that the boat’s key systems are in good condition. Test all functions and check the wiring to ensure that the boat runs optimally and well during an inspection and a sea trial. The general maintenance of smaller, less significant systems is also very important. Make sure you check the following thoroughly:
– All mechanical, electrical and navigation systems
– All cabin lights, navigation lights, window bars, faucets, etc.
– Air conditioning and cooling systems
– The engine compartment to ensure that no fuel, oil or water is leaking
Clean up and tidy up your yacht
Similar to selling a home: If your boat is overloaded with excessive personal belongings, buyers will find it hard to see past them and imagine their own equipment on the boat. Make sure you remove as many personal items as possible to maximize the interior and exterior of the boat.
Also have the outside of the boat completely washed and waxed. Polish all stainless steel and aluminium parts. Make sure the decks are washed and tidy and remove any unused lines and deck equipment. The engine room should be light and clean (remove rust and corrosion). The interior should also be impeccable.
If your yacht is clean and tidy eliminate doubts in the buyer’s mind trying to find out whether the boat has been well maintained. If the boat looks messy and dirty, the buyer assumes that it has been neglected and therefore poses a high risk of purchase – with future problems due to lack of maintenance.
Staging your boat
The boat should be shown in the best possible light before every presentation. This is usually done by your yacht broker who, for example, switches on the air conditioning, lighting and music before the buyer arrives. Setting up flags and stern flags also has a positive effect. All these small details make the best first impression and ensure that the show goes as well as possible.
There should also be promotional material for your boat with high-resolution photos, descriptions and specifications so that the buyer remembers all the important details. A video of the boat is also very effective.
Prepare all papers
The maintenance records of the boat and the latest survey are great sales tools that make the buyer feel confident. Make sure all relevant documentation is prepared, including title, registration and loan information, if an offer is accepted and you can complete the sale.