If you’re considering selling your boat, you should have a plan prior to putting it on the market. Similar to preparing your home for sale, your boat needs to present at its best in order to attract buyers quickly and get the most for it. Boats that need work or are priced too high tend to stay on the market longer, leading to fewer buyers and lower offers. This additional time will end up costing you more money in the long run as you try to move your boat. It’s a no-win situation for you.
Avoid these problems with help from a yacht broker. These professionals have the expertise to get your vessel sold by understanding the current market and having access to a wide network of buyers who may be a good fit for your boat. Along with hiring a yacht broker, here are some tips to minimize time on the market and maximize your sale.
Maintain the Yacht
A well-maintained boat will sell faster than one with a sketchy service history. You will not get top dollar for your boat if the buyer thinks they are inheriting problems. Now is the time to finish up those lingering projects and service major equipment. Motivated buyers look for well-maintained boats, and they are usually willing to meet your price for them. No one wants to buy a boat if they will immediately need to take it to the shop for repairs. Upkeep might seem like a hassle, but it pays off exponentially off in the end. Ask your local yacht broker. They know maintained boats sell quickly on the market.
In preparation to sell, test systems onboard to ensure all equipment is operating properly. Engines and generators should be current on their service intervals. Sails and canvas should be clean and in good order. If you find something that isn’t working, call your service company and schedule a repair. Buyers are willing to pay for a well-maintained boat that they can use immediately without taking on the burden of outstanding repairs or broken equipment.
Compile Your Service Records
Your yacht broker will want to access all of your service records. Hopefully, everything is organized and easy to find. Reach out to your yacht service company and have everything sent to you digitally so you can pass these along to a buyer when requested. A well-maintained boat, complete with a documented service history makes the buyer more comfortable which is key to a smooth sale.
Present a Clean Vessel
Do NOT skip – or skimp – on this step! You need to do more than a quick wash to your boat. This is the time to hire a detailing company to give your yacht a thorough cleaning both inside and out. It doesn’t cost much and will yield a high return when you get an offer. If the boat is dirty and unorganized, it can easily sway away a potential buyer. They will assume that other parts of the boat that they can not see are just as neglected.
All exterior spaces should be thoroughly buffed and have a nice shine to them. Repair any noticeable cracks or chips, preferably via a professional. No one likes a hastily done DIY job that may end up looking worse than it started. Teak railings should be sanded and a fresh coat of paint applied. Wipe down and polish the metal. Clean the canvas and vinyl. Make your boat pop. Clean and organize storage compartments and throw out anything that you no longer need.
For the interior, declutter as much as possible by taking out your personal belongings and keeping the bare minimum on board. You want buyers to notice all of the great features of your boat, not your clutter. Shampoo the carpets and upholstery for a fresh and clean appearance. Wash the linens and make the bed. Clean and organize the galley, throwing out anything that is not needed. Clean and deodorize your head! Wipe down the surfaces. Focusing on these tiny details shows how much you care for your boat and can entice a buyer to make an offer.
Finally, take care of those bilge and engine spaces. Trust us, buyers will look there upon their initial inspection of your boat. Clean your engine room and remove all corrosion and rust from the metal surfaces. Clean the filters, rudder assemblies, motor mounts, seacocks, drip pans, and couplers. The floor must be free of any fluids or oils. If any hoses are cracked or rotted, replace them. Don’t forget to check out other spaces. Make sure all spots are clean and presentable. A clean yacht means the difference between a quick sale and spending months on the market.
The above tasks seem like a lot of work, but most properly maintained yachts only need a slight touch-up. After cleaning up the boat, keep it that way. No matter how long it takes to sell on the market, you need regular system checkups and cleanings. By staying on top of maintenance, you limit your chances of problems when it comes time for the buyer’s survey.
For those that don’t know where to start the preparation efforts, ask your yacht broker. These professionals know what needs to be fixed for a sale and can find the right personnel to get those cosmetic and maintenance items off your list. Buyers will notice and appreciate the effort spent preparing your boat for sale, resulting in less time on the market and a higher offer for your boat.
Find a Professional Yacht Broker
When you don’t put effort into having a presentable boat, it will most likely spend a long time on the market with no prospective buyers. Don’t waste valuable time and money waiting to make a sale. A professional yacht broker will steer you in the right direction. With their help, you can minimize the time it takes to find the right buyer. Plus, you may even get above your asking price. You can’t get those results when you try to sell the yacht by yourself.
Let Us Sell Your Yacht
At Yacht Brokers of Annapolis, we have years of experience buying and selling yachts. We know what it takes to move your boat quickly. Schedule a consultation by calling 410-206-2755.