How To Find The Price To Sell My Yacht
When buying any major asset, most people want to negotiate the price. When it comes to major vessels like yachts, many buyers are interested in finding the best offer possible. If you want to present your yacht in the best way possible and command the best price for your vessel, it is important to seek some professional help. If you are asking yourself “how to find the price to sell my yacht”, finding the assistance of a yacht broker can be a great way that you can get full price for your yacht and find out what it’s worth in the current market.
The buyer and seller are bound to negotiate on the price of a vessel but having a broker available they can do the research to look at similar boats and to determine the average book pricing for a yacht in the same class is important. There are many owners that have an inflated idea of what their vessel is worth, especially after years of use. Performing extensive luxury upgrades on a yacht will not always lead to the vessel recouping that investment. Having brokers on either end of the sale can make sure that emotions can be regulated and that the yacht can be sold at a fair price.
Many people are selling their yachts because they’re not getting as much use as they would have thought or because they’ve upgraded. It doesn’t take long for a yacht to start experiencing maintenance issues if they are not looked after or regularly used. When these vessels start to experience these maintenance issues it often leads to new owners fronting the bill for tens of thousands of dollars in repairs. Performing some of these repairs upfront in making sure that you’re keeping up with maintenance will make sure that you can keep closer to the book value of your yacht with less depreciation.
Tempering your expectations on the length of the sale can be important as well. Yachts are specialty items and generally the larger that they are, the longer that they take to sell. Vessels that are over 46 feet can sometimes take up to a year to sell but smaller vessels between 26 to 35 feet can usually sell within 8 to 9 months if they’re in good condition. It’s important to consider the length of time that it may take to sell your vessel with your maintenance costs on the vessel, mooring fees, and more.
A yacht broker will be able to provide you with the best sales data on your yacht. They’re able to use their extensive knowledge to provide book values on your yacht. Yacht brokers also have access to confidential listings of the actual selling prices for yachts in all types and manufacturers worldwide. They can give you an average price for what your yacht may go for or based on its depreciation and current condition. As well as taking a look into the current average prices for the sale of yachts, the yacht broker may be able to suggest a series of improvements that you could do on your yacht that might inflate the overall price.
Asking for the top-end price on your yacht is not always an easy sale. If you’re a seller that’s holding out for a top price it’s likely that you may need to spend regular time with your vessel maintaining it and keeping it in pristine condition. If your plan is to let the yacht sit moored and to have the broker regularly check in on the vessel when there is an inquiry, you might have to adjust the price if it has been on the market for a long period of time. Maintaining the boat while it’s for sale can be difficult for many yacht owners especially if they’re paying for a second yacht after they’ve upgraded or they are trying to sell their yacht quickly to move on to other assets. If you’re truly motivated to sell the yacht quickly, you may be encouraged by your broker to list it for a price that is below market value so that you can attract a wider audience.
Contact Massey Yachts to speak to a broker to find out exactly how much your boat is really worth.