Sooner or later, it is a three year cycle!!!
Every one who has something to sell generally hopes that they can get the best price on the market for what they have. I have watched all too often sellers approach selling having not taken the best steps forward to bring them a quick and efficient, best price, sale.
The first tip is to get an anticipated value for what you have to sell and be realistic. I can do that for you and it will not cost anything. I use the same tools as we use to establish trade in values. Sources include BUC, NADA, Multi-Listed asking prices, soldboats.com, (a broker only site) and if you are selling a catamaran our data-base of sold yachts. At least as far as catamarans, though there has been some impact due to the economy, we have had the luxury of not experiencing huge de-valuations of selling prices.
Once you have the number, sit back and think about whether are willing to accept the value. Listing and or trying to sell and over-priced item really just frustrates everyone. Remember, that some brokers will accept over-priced listings simply to add another opportunity to their “bag of tricks”.
Cosmetics, Location and Condition: Okay, you have passed that emotional decision to put what you have on the market. There is a whole industry within the Real Estate market of staging property for a more effective and profitable sale. Staging relative to yachts can best be described and first, place her in a location that is a marine center for what you have to sell. Catamarans can be best served in areas such as St Augustine, Annapolis MD., Fort Lauderdale FL. and possibly the British Virgin Islands. Secondly, clean it up! Both, interior and exterior, stage it with just enough “props” to give her a finished appearance. Give her a boat show feel! Consider exterior compound and waxing the hull and deck, prep exterior wood and remove rust stains. Change the fluids in your Motors! A suspect oil anaylsis can kill a deal or set you back with price adjustments.It is important once you have done this to keep it up. If you are absentee, hire a service to check on your yacht and keep it clean, run the systems once in a while to make sure all is as it should be. Finally, photography, pictures tell a thousand words, if you are in an area where I can not get good photo’s, get some one who has the ability to take good photo’s, it is typically the first point a potential buyer will have to see what you are selling. I have had good success in taking quality photography and placing presenting on U-Tube. By adding links to emails seriously increase the comfort level of a Customer as to genreral condition when being viewed from afar.
Equipment Representation: Most equipment lists will finally become the working document for survey and conveyance at time of closing. So if you list an item please make sure that it works. If you note a bimini top that is not the one sitting in the garage with the holes in it, on a broken frame. If you have items that need service and or replacement fix it! Remove out of date equipment, that old Loran C is a liability. Bring safety gear up to spec. Out of date flares just becomes another note in a surveyors report. Do not over do it though, it may simply be better to remove than spend money. Dinghy’s, if it has a motor most states anymore consider it a boat and registration papers are required. No paper? Do not list it. Here is another one, today most surveyors are recommending an oil analysis, change all motor fluids, you do not want a surveyor sucking up some sludge from your motors and sending it off to have a buyer receive a nasty report of all sorts of stuff in the oil.
Cat Check, Boat Check: Today I can offer for our listings a service called Cat Check. This is a preliminary third party survey accomplished by a surveyor for the purposes of validating the vessel. You are presenting a third party opinion. By attaching this to the marketing it provides a great opportunity for buyers to elevate their confidence level in further pursuing any particular listing.
Duties and Taxes from a Seller's prospective. In recent years this has become a growing issue as Governments continue to look for revenue sources. If you own an origional Foriegn Built Vessel or Us Built Vessel has been exported at one time or another there are Duty implications that you should be aware of. Just because you have a US Documented vessel DOES NOT mean that US Duty has been paid. Selling a non-state tax paid vessel Can put you at risk if the vessel is not offered under a Central Listing Agreement with a Broker where Care aCustody Agreements have not been organized. A bit complicated and best discussed over the phone. Call me if you have any concerns.
Find a good Broker: Now, from my stand point that would be me! If you are following my tips you will find that I can provide you with the best representation in today’s market. The Catamaran Company has the absolute best marketing machine to present your yacht to more potential buyers than anyone in the world. I am a bit selective in that I prefer to represent seller’s who are interested in selling their yachts, not testing the market. If you are selling a item that is too far away or not in our product mix, I would still be happy to discuss a strategy.
The Anderson Team Selling Advantage! Before you list give me a call... Today, between what The Catamaran Company offers in marketing, the ability to trap Customers and their emails of folks who have viewed your lsting along with our additional marekting tools:
Website Presentation, YachtWorld Placement, Yacht Council, Our Websites and Blogs, U-Tube and Sailboatlistings.com there simply is no one who offers any better Marketing Effort!
I hope this has been helpful for some. It is not a complete guide of all that one needs to prepare for when selling. There is paperwork considerations relative to title transfer, contract negotiations, surveys and sea trials. I am looking for a few good listings and more than willing to discuss selling with all interested. For a Copy of our Central Agency Agreement and Free Market Anaylsis email your request to: firstname.lastname@example.org Feel free to contact me most any time 954-821-6450