Selling Your Boat in a Tough Market / Preowned Inspected Yachts
No one will disagree that the ownership and use of a boat or yacht can be one of great pride and pleasure for its owner and family. However circumstances do change and the time will come to get a larger or smaller vessel or just sell the vessel.
At this point, it becomes something totally different; it changes from personal to business. When something becomes business, you need the best businessman you can find and as of late Donald Trump doesn’t sell boats!But Bayside Does!
#1 So the first step in selling your vessel in any market is to treat it as strictly business. All marketing endeavors are driven by supply and demand.
“THE PROBLEM” -The issue with today’s market in most businesses is that the supply is much greater than the demand. In our case there are way more boats for sale than there are buyers for them.
#2 The second step in selling your vessel is to realize the major change/shift that has taken place in the market over the past 3 years.
“THE SOLUTION” - Hire a full time professional businessman/brokerage company that specializes in the marketing of pre-owned vessels who fully understands the current market conditions and has a plan in place to succeed.
#3 The next step is to hire the “right” broker/brokerage
Ask these important questions:
-How experienced are they? How long have they been in the marketing of yachts business?
-Do they advertise internationally? Do they have international associates?
-Do they advertise locally? Do they have a local presence?
-Do they have actual offices? Do they have easy to find high exposure sales facilities?
-Do they have in the water sales displays with several vessels at all times for potential buyers to see without having to travel long distances from boat to boat?
-Do they have discounted high exposure brokerage slips to speed up the sale of your vessel?
-Do they have the ability to take trades on your vessel? Do they want to do the extra work for you which is involved with trade-ins? Are they willing to take a smaller vessel on trade? Are they willing to take a larger vessel on trade? Are you willing to take a smaller or larger vessel on trade?
-Do they have a “Special” plan or unique marketing ideas that “will” set your vessel apart from the “pack” and produce results for you?
-Will your listing be important to them or just another “line item” on the “growing” list of “for sales”?. What is the ratio of listings per broker? As parents we were always worried that when the classroom size per teacher got high, that our childrens education suffered.
-Will they really cooperate with other brokers in a cohesive effort to get your boat sold or will they covet your listing so they don’t have split the commission?
#4 Hire Bayside Yacht Sales & Brokerage . This is What will we do:
-Assess our competition; how many vessels like yours are currently for sale; how long have they been for sale; how much have they been asking; what has sold; what have the sale prices actually been; what is the condition of the competition; what is the condition of your vessel, etc.
-Make a business plan which may include but not limited to; setting an aggressive price based on actual sales; properly preparing your vessel for a potential buyer (would you buy your boat?); position your vessel in our sales display area to increase the showing frequency; create international advertising and exposure; create local advertising; create worldwide broker networking exposure, etc.
-Put your vessel in our “Pre Owned Inspected Program” which will greatly increase the value that you receive for your vessel and minimize the marketing time to sell; contact one of our sales professionals for details.
SELLING IN A TOUGH MARKET IS TOUGH! Who do you want on your team?
Call today so we can get started.
Bayside Yacht Sales & Brokerage