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Frequently Asked Questions1. What is the difference between a boat and a yacht? According to the Merriam-Webster Dictionary, a yacht is a large usually motor-driven craft used for pleasure cruising and a boat is a small vessel for travel on water. This topic is very subjective because according to some the size of a vessel matters and according to others it does not. Below are several descriptions for your interpretation: The size issue begins with those who feel that any vessel above 30’ is a yacht, while others believe that any vessel over 40’ is a yacht and still others believe that any vessel over 65’ is a yacht. Anyone who owns a vessel in the 30’ to 65’ range should realize that if they want to call their vessel a yacht, there are others making the same claim including manufacturers. The consensus seems to be that any vessel between 65’ and 150’ is a yacht. Vessels larger than 150’ would be considered a ship, while others may refer to them as a mega or super yacht. A yacht is any private vessel used for pleasure but designed for crossing large bodies of water. A boat is any form of vessel designed to operate on a small body of water. In conclusion to this great debate, the major differences between a yacht and a boat exist largely in the eye of the beholder. 2. Why is it important work with a member of one of the seven international yacht brokers associations? Membership in the Yacht Brokers Association of America (YBAA) provides customers, manufacturers, dealers and fellow yacht brokers the assurance that one of the leading associations of the yacht brokerage industry recognizes GOLDEN KEY YACHT SALES as a member in good standing. Strict adherence to the YBAA’s code of ethics provides customers confidence that transactions will follow the best practices outlined by the yacht brokerage industry. Engaging the services of a member of one of the seven international yacht brokers associations: YBAA, FYBA, CYBA, NYBA, MYBA, BCYBA or ABYA is essential to insuring that a purchase or sale will be handled by a professional yacht brokerage company. 3. Why work with a yacht broker? Buyers Our yacht brokers will conduct an extensive search according to a customer’s requirements. BoatWizard is the premier worldwide multiple listing service for available new or used boats and yachts. Membership in this yacht brokers only web portal allows our brokers to identify every available new or used boat and yacht in the world. Enlisting professional assistance will increase the odds of identifying the perfect boat or yacht to meet a buyers exact purchasing criteria. The secondary market is an untapped market that requires professional assistance. What is the secondary market? A significant number of new or used boats and yachts are not being marketed by a yacht broker or boat dealer and are not even available on the public market. Why? Many sellers and manufacturers are selling boats without a yacht broker or boat dealer to avoid paying high commissions. Gaining access to all of the available new or used boats and yachts is impossible for buyers as well as yacht brokers. Why? Having all of this information would require that one read every Boat For Sale classified ad in every newspaper, marine trade publication, Internet website, Internet newsgroup and Internet bulletin board. Some sellers are even building their own websites. Also, it would require walking the dock of every marina, yacht club, boat and yacht storage facility, and seller’s dock or driveway in the United States and internationally to see For Sale signs on boats and yachts. Finally, there is looking for ads on bulletin boards in every marina, yacht club, boat and yacht storage facility. Therefore, GOLDEN KEY YACHT SALES is in the process of developing a proprietary searchable database. Please note that this technology is under development and will be available to customers in a beta version only in the not too distant future. Sellers Listing a boat or yacht with a good broker that markets it effectively will save a seller time, energy and money. GOLDEN KEY YACHT SALES creates an aggressive advertising plan to sell boats fast. Pricing a boat or yacht within the market is essential to executing a successful marketing campaign. Therefore, recent sales history of similar boats or yachts and current marine Blue Book estimated trade-in values are provided to determine the fair market value. Qualifying serious buyers is an art form, which is best left to professionals actively engaged in full time yacht brokerage. Advertising in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds generates too many calls from yacht brokers soliciting business and unqualified buyers looking for a bargain. Working with a broker eliminates this problem. Both represent the majority of calls received by sellers attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy. On average, sellers receive one call from a serious buyer for every ten calls from brokers and unqualified buyers. A good yacht broker will handle all services such as free market analysis, appraisal, professionally photographed digital images, advertising, marketing, previews, negotiations, marine/hull survey, engine survey, sea trial and closing. Appointments will be set for prospective buyers to preview boats seven (7) days a week. All offers presented to the seller will include a Yacht Purchase Agreement and a 10% deposit. In the event that a seller accepts an offer, assistance is available to set up a marine/hull survey, engine survey, and sea trial in preparation for the closing. Most importantly, a high caliber broker will handle all issues that arise with the buyer during the negotiations, closing and after the sale is completed. 4. Why is pricing important to selling a boat or yacht? One of the essential ingredients to selling a boat is pricing. Therefore, recent sales history of similar boats or yachts and current marine Blue Book estimated trade-in values are provided to determine the fair market value. Over pricing a boat will undermine even the most aggressive marketing campaign. This is a critical step over looked by many sellers attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy. 5. Why is advertising important to selling a boat or yacht? Many sellers hope for results with little or no investment in advertising. The first step sellers attempting a Yacht or Boat For Sale By Owner strategy take is to place a For Sale By Owner sign on a boat or yacht. The second step sellers take is to advertise in the classified section of the Free local marine trade publications for under $50. The third step sellers take is to advertise in the classified section of the local newspapers for $60-100 a week. Finally, the most ambitious sellers advertise in the classified section of regional and national marine trade publications at a cost of several hundred to several thousand dollars. Then, there are sellers attempting a Yacht or Boat For Sale By Owner strategy by advertising on the Internet. Many sellers realize that the Internet offers access to millions of potential buyers, so they are attempting a Yacht or Boat For Sale By Owner strategy. The first step sellers take is to post a boat or yacht on websites offering Free Internet, newsgroup and bulletin board advertising. The second step sellers take is to post a boat or yacht on websites offering to advertise on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites at a cost of $100-500. Finally, the most ambitious sellers are building websites at a cost of several hundred to several thousand dollars. The goal of these sellers is to sell their boat without paying a commission to a yacht broker. Unfortunately, both of these Yacht or Boat For Sale By Owner strategies are flawed. First, advertising in the classified section of the Free local marine trade publications, local newspapers and on the Internet is like marketing a boat or yacht through a straw. At best these ads are read or seen by less than 2% of the buyers actively engaged in a search for a similar boat or yacht. New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites have spent all of their advertising budgets to appear at the top of the Google, Yahoo, MSN, AOL, Alta Vista and Lycos rankings for sellers not buyers. As a result, sellers embarking on unsuccessful Yacht or Boat For Sale By Owner marketing campaigns waste millions of dollars every year. Then, when sellers grow frustrated with the lack of serious offers for a boat or yacht, they become willing to have a yacht broker sell their boat for a 10-15% commission out of desperation. One of the essential ingredients to selling a boat is advertising. According to the latest traffic statistics from Nielson/NetRatings, a leading Internet audience measurement service, Yachtworld, BoatTraderOnline, boats and iboats are the most visited marine classified sites on the Web. Buyers flock to these Websites in droves actively seeking to purchase that perfect new or used boat or yacht. Combined these Websites receive 3.6 million visitors monthly and conduct over 13.5 million boat and yacht searches every month. This represents over 75% of the boat and yacht searches on the Internet. Yachtworld, BoatTraderOnline, boats and iboats are the leading Internet destination websites for locating new or used boats and yachts. These websites boast the largest searchable photo databases of new or used boats and yachts for sale on the World Wide Web. If you want to reach serious buyers looking for high quality new or used boats and yachts, our affiliations with these websites will provide aggressive marketing to millions of qualified buyers. BoatWizard is the premier worldwide multiple listing service for available new or used boats and yachts. Membership in this yacht brokers only web portal allows customers boats and yachts to be made available for co-brokerage to every yacht broker in the world. Enlisting professional assistance will increase the odds of initiating and executing a successful marketing campaign. 6. Why are pictures important to selling a boat or yacht? This is probably the most overlooked ingredient in a successful marketing campaign. Buyers are willing to travel hundreds or thousands of miles for the right boat, so providing a visually compelling image gallery is important. New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds do not provide buyers with enough information to generate inquiries. In addition, the saying that "A picture is worth a thousand words" definitely applies to selling new or used boats and yachts. Photographing boats and yachts with professional equipment, creates dynamic image galleries of all boats and yachts in inventory. Each marketing campaign is launched with as many as 50 pictures to build the largest galleries on the Internet. Photographing boats with professional equipment allows us to create poster size pictures of a boat or yacht at the boat shows. A visually stunning image gallery will prominently feature our customers’ new or used boats and yachts with the largest pictures at the boat shows. Buyers are more likely to inquire about a boat that has a comprehensive image gallery because they can visualize it. This becomes even more important with larger and more expensive boats and yachts. Also consider that the image galleries on on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites are marginal at best because they only allow a seller to post 1-5 pictures of low quality and size. Posting low quality pictures will generate a fraction of the inquiries that high quality pictures do. It should be noted that boats marketed on the Internet without pictures generate very few inquiries. 7. Why is it important to have your boat or yacht displayed at boat shows? GOLDEN KEY YACHT SALES industry leading boat show strategy enables new or used boats and yachts to be presented to buyers looking to make a purchase. Some attendees like to preview various models that they are considering without having to drive to distant locations. Also, previewing new or used boats and yachts at a boat show removes the pressure associated with walking into a dealership and listening to an aggressive sales pitch. Finally, the opportunity to see manufacturers models that do not have an extensive dealer network can be one of the most exciting features of the boat shows. This is an excellent venue to see different models with friends and family in a comfortable atmosphere to determine which boat or yacht best meets a buyer’s purchasing criteria. Gaining access to buyers who are lined up looking for similar boats or yachts is an essential ingredient to initiating and executing a successful marketing campaign. Attendance at regional boat shows is fundamental to GOLDEN KEY YACHT SALES marketing strategy. This allows customers to work with professionals with years of trade show training and expertise, which is a key competitive advantage. In addition, the saying that "A picture is worth a thousand words" definitely applies to selling new or used boats and yachts. Photographing boats with professional equipment allows us to create poster size pictures of a boat or yacht at the boat shows. A visually stunning image gallery will prominently feature our customers’ new or used boats and yachts with the largest pictures at the boat shows. Also, every new or used boat and yacht in inventory will be made available to attendees in promotional packets. Visit us at one of the upcoming boat shows to find out how we can launch an aggressive marketing campaign or initiate a search. 8. Why is detailing important to selling a boat or yacht? There is a strong financial incentive to prepare a boat or yacht for sale. Detailing a boat or yacht regularly during a marketing campaign is the single most important investment of time, energy and money a seller can make because a clean and shiny boat or yacht sells faster and for more money. Click on the hyperlink titled Preparing a Boat or Yacht For Sale for additional information about this important topic. 9. Why should a seller get a survey? Sellers should consider getting a survey before launching a marketing campaign. Knowing the strengths and weaknesses of a boat or yacht will save time, energy and money later. A good surveyor can determine if a boat or yacht needs repairs and give the seller a list of items that need to be fixed for the boat or yacht to be in top condition. Buyers are looking for a boat or yacht that has been well maintained; so uncovering any potential mechanical problems early gives you the opportunity to have them repaired. 10. How long will it take to sell a boat or yacht? This is dependent on a number of factors such as when the marketing campaign is launched, how aggressively priced a boat or yacht is and the condition of the vessel. Certain boats and yachts are in high demand and may sell faster if priced within the market. Sellers need to be patient with the sales process because it is a numbers game. Finding a buyer who wants your boat or yacht more than any other available on the market takes time. 11. What is the impact of the Internet on yacht brokerage? Millions of boat and yacht buyers who surf the web looking for boats have expanded the market for pre-owned boats and yachts. Geographic boundaries are shrinking, since buyers are willing to travel hundreds or thousands of miles for a specific boat or yacht that meets their purchasing requirements. The Internet is substantially reducing the marketing costs associated with selling a boat or yacht. The most significant change is that owners have choices that were not available five years ago. According to the latest traffic statistics from Nielson/NetRatings, a leading Internet audience measurement service, Yachtworld, BoatTraderOnline, boats and iboats are the most visited marine classified sites on the Web. Buyers flock to these Websites in droves actively seeking to purchase that perfect new or used boat or yacht. Combined these Websites receive 3.6 million visitors monthly and conduct over 13.5 million boat and yacht searches every month. This represents over 75% of the boat and yacht searches on the Internet. Yachtworld, BoatTraderOnline, boats and iboats are the leading Internet destination websites for locating new or used boats and yachts. These websites boast the largest searchable photo databases of new or used boats and yachts for sale on the World Wide Web. If you want to reach serious buyers looking for high quality new or used boats and yachts, our affiliations with these websites will provide aggressive marketing to millions of qualified buyers. BoatWizard is the premier worldwide multiple listing service for available new or used boats and yachts. Membership in this yacht brokers only web portal allows customers boats and yachts to be made available for co-brokerage to every New York Yacht Broker, New Jersey Yacht Broker, Connecticut Yacht Broker and world wide yacht broker. Enlisting professional assistance will increase the odds of initiating and executing a successful marketing campaign. 12. Why do yacht brokers charge a 10-15% commission? The standard commission received by yacht brokers ranges between 10-15%. Until recently, yacht brokers were able to dictate a high commission structure to owners with few other options. Many yacht brokers continue to cite the high costs of embarking on a successful marketing campaign in the leading marine trade publications and brokerage shows as reasons for charging excessive commissions. This is especially true for expensive boats and yachts. Sellers beware because the Internet is substantially reducing the marketing costs associated with selling any boat or yacht. 13. What differentiates GOLDEN KEY YACHT SALES from other yacht brokers? GOLDEN KEY YACHT SALES is the leading yacht broker for new and used yacht or boat owners tired of paying high commissions. Many boat and yacht owners avoid working with yacht brokers because of the 10-15% commission charged on a boat or yachts sale price. A paradigm shift is taking place in the yacht brokerage industry, and few yacht brokers are embracing this change. The Internet is substantially reducing the marketing costs associated with selling new or used boats and yachts. Choosing to take a leadership position, GOLDEN KEY YACHT SALES has established itself as one of the fastest growing yacht brokerages in the industry. Boat and yacht owners, manufacturers, dealers and marinas have embraced the concept of a yacht brokerage working for substantially less than the standard 10-15% commission. GOLDEN KEY YACHT SALES is revolutionizing the way new and used boats and yachts are marketed. Buyers are more likely to inquire about a boat or yacht that has a comprehensive image gallery because they can visualize it. This becomes even more important with larger and more expensive boats and yachts. This is probably the most overlooked ingredient in a successful marketing campaign by 99% of yacht brokers. Buyers are willing to travel hundreds or thousands of miles for the right boat or yacht, so providing a visually compelling image gallery is important. The low quality and limited number of pictures used by the majority of yacht brokers do not provide buyers with enough information to generate inquiries. The saying that "A picture is worth a thousand words" definitely applies to selling new or used boats and yachts. Photographing boats and yachts with professional equipment, allows GOLDEN KEY YACHT SALES to create dynamic image galleries of all boats and yachts in inventory. Each marketing campaign is launched with as many as 50 pictures to build the largest galleries on the Internet. Also, this allows us to create poster size pictures of a boat or yacht at the boat shows. A visually stunning image gallery will prominently feature our customers’ new or used boats and yachts with the largest pictures at the boat shows. Partnering with an industry leader is a logical choice. 14. How does the FSBO Program work? GOLDEN KEY YACHT SALES industry changing FSBO Program enables sellers to launch an aggressive marketing campaign while retaining the freedom to sell a boat or yacht without paying a commission. GOLDEN KEY YACHT SALES specializes in selling New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner. There is more involved to selling a boat or yacht than placing ads in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds. Most sellers are uncomfortable with a yacht broker deducting a 10-15% commission from the sale price upon closing. In order to facilitate sellers attempting a Yacht or Boat For Sale By Owner strategy, a commission substantially less than the standard 10-15% is charged. Sellers determine an acceptable sale price and engage professionals to launch an aggressive marketing campaign. Click on the hyperlink titled Boats & Yachts For Sale By Owner for additional information about the FSBO program. 15. Tired of dealing with yacht brokers and unqualified buyers? Classified ads in local, regional and national marine trade publications; local newspapers and FSBO websites do not provide adequate exposure to qualified buyers. Advertising in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds generates too many calls from yacht brokers soliciting business and unqualified buyers looking for a bargain. Working with a yacht broker eliminates this problem. Both represent the majority of calls received by sellers attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy. On average, sellers receive one call from a serious buyer for every ten calls from yacht brokers and unqualified buyers. 16. How much should be spent on advertising to sell a boat or yacht? Many sellers hope for results with little or no investment in advertising. The first step sellers attempting a Yacht or Boat For Sale By Owner strategy take is to place a For Sale By Owner sign on a boat or yacht. The second step sellers take is to advertise in the classified section of the Free local marine trade publications for under $50. The third step sellers take is to advertise in the classified section of the local newspapers for $60-100 a week. Finally, the most ambitious sellers advertise in the classified section of regional and national marine trade publications at a cost of several hundred to several thousand dollars. Then, there are sellers attempting a Yacht or Boat For Sale By Owner strategy by advertising on the Internet. Many sellers realize that the Internet offers access to millions of potential buyers, so they are attempting a Yacht or Boat For Sale By Owner strategy. The first step sellers take is to post a boat or yacht on websites offering Free Internet, newsgroup and bulletin board advertising. The second step sellers take is to post a boat or yacht on websites offering to advertise on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites at a cost of $100-500. Finally, the most ambitious sellers are building websites at a cost of several hundred to several thousand dollars. The goal of these sellers is to sell their boat without paying a commission to a yacht broker. Unfortunately, both of these Yacht or Boat For Sale By Owner strategies are flawed. First, advertising in the classified section of the Free local marine trade publications, local newspapers and on the Internet is like marketing a boat or yacht through a straw. At best these ads are read or seen by less than 2% of the buyers actively engaged in a search for a similar boat or yacht. New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites have spent all of their advertising budgets to appear at the top of the Google, Yahoo, MSN, AOL, Alta Vista and Lycos rankings for sellers not buyers. As a result, sellers embarking on unsuccessful Yacht or Boat For Sale By Owner marketing campaigns waste millions of dollars every year. Then, when sellers grow frustrated with the lack of serious offers for a boat or yacht, they become willing to have a yacht broker sell their boat for a 10-15% commission out of desperation. 17. Why is it a mistake to work with a yacht broker that agrees to list a boat or yacht priced above the market? Sellers should be wary of a yacht broker who will take a listing that is priced above the market. Some yacht brokers will agree to market a boat or yacht just to get the listing. A good yacht broker will not accept a listing from a seller with unrealistic expectations. Listing a boat or yacht priced above the market is the biggest mistake a seller can make, and doing it under the direction of a yacht broker is foolish. This will lead to lost time and aggravation for the seller. Eventually, the seller will become frustrated when the yacht broker advises the seller to lower the price to generate more inquiries. Then, the seller will consider switching yacht brokers in the hopes of getting results. 18. Which new and used yachts, trawlers, motor yachts, sedan cruisers, express cruisers, sport-fishing boats and high performance boats are needed from the following manufacturers? Albemarle, Albin, Alden, Aquasport, Azimut, Baja, Bayliner, Bertram, Blackfin, Boston Whaler, Bradford, Cabo, Carolina Classic, Carver, Century, Chaparral, Chris Craft, Contender, Cranchi, Crownline, Cruisers, Doggersbank, Donzi, Doral, Edgewater, Egg Harbor, Elling, Fairline, Ferretti, Formula, Four Winns, Glacier Bay, Grady White, Grand Banks, Hatteras, Henriques, Hinckley, Horizon, Hydra Sports, Intrepid, Jefferson, Jupiter, Larson, Lazzarra, Luhrs, Mako, Magnum, Mainship, Maxum, McKinna, Meridian, Mirage, Monte Fino, Monterey, Navigator, Neptunus, NoosaCat, Nordhavn, Ocean, Ocean Master, Ocean Alexander, Osprey, Pershing, Post, Pro Line, Pursuit, Rampage, Ranger, Regal, Regulator, Rinker, Riviera, Robalo, Sabreline, Sea Ray, SeaCraft, Sealine, Shamrock, Silverton, Stamas, Stratos, Sunseeker, Tiara, Topaz, Triton, Trojan, Trophy, True World Marine, Viking and Wellcraft. GOLDEN KEY YACHT SALES is looking for New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner. The entire team looks forward to assisting sellers in need of professional assistance from a New York Yacht Broker, New Jersey Yacht Broker or Connecticut Yacht Broker.
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