Article Surfing Archive

There are three key fundamental elements to selling your yacht; enlist the services of a yacht broker, present your yacht in good condition and set the price at market value.

Presentation

First impressions are very important and buyers expect to see a well maintained vessel both inside and out. A badly presented boat will significantly diminish in value. Work on the exterior of your craft to get it looking clean and appealing to buyers. Have her looking like new with a wax and a polish tending to any poor varnish work.

Just as you would if you were selling a house, have a good de-clutter of the interior and remove any personal belongings making sure everything is clean and tidy. Check that the bilges are dry and fresh to avoid a damp and musty smell that may be off-putting to buyers. Get the hull as clean as you can get it paying attention to detail, and hire professionals if necessary.

Engine and Mechanics

Before you bring buyers on board make sure the yacht is in satisfactory working order. Keep sufficient fuel to ensure services operate and be prepared for prospective buyers to test everything on board. Make sure the lights, radio, autopilot, toilets, water systems and other amenities are all in good working order as any defects could encourage buyers to make a lower offer. If the bilges are dirty, clean them as an oil spill can give the impression of an oil leak. Keep the engine room clean and organize a service, if the last one was a while ago. Above all else ensure everything is presentable and in working condition.

Price

To avoid setting the wrong price for your yacht, a common mistake made by many unaided vendors, always do your market research. An unrealistic price that does not reflect your yachts true value is likely to discourage potential buyers. Do not be temped to set a high price with a view to lowering the price through negotiations. There is plenty of choice on the market for used boats and if you price too high this could result in your yacht being passed up in favour of a more reasonably priced vessel or worst still your yacht could remain unsold for months on end, whilst still costing you money. The age of the yacht, condition and accessories all need to be taken into account when comparing other similar yachts for sale. The initial asking price must be checked regularly which is why it's best to seek the advice of a yacht broker to get an honest appraisal of the current market value of your yacht. Even the most well presented vessel will not sell quickly if the price is not right.

Documentation

The more paperwork you can provide the better. Assemble all the manuals and service history you have for your craft and store them in a safe place. Make copies for the broker and keep manuals onboard for prospective buyers. Appropriate paperwork should include a Declaration of Conformity (if built after 16th June, 1998), and the original sales invoice which will show that VAT has been paid.

There is also advertising/marketing of the vessel and a pre-sale survey to consider. The process of selling your yacht should not be rushed into and as a seller you will undoubtedly benefit from the expertise and skill of a yacht brokers selling service who will work to ensure you a successful sale.