A mesmerizing trip by the shore on a yacht is a refreshing distraction, especially in the swimming season! But the same yacht can be relatively less useful on cold days. So, how do you save your ‘sleek’ yacht from getting attacked by dirt or filth while standing idle without maintenance? Obviously, by selling it to someone. Before you start looking for potential clients, the first step is to settle your range. How old is your yacht? How long has it been in use? How many miles has it traveled till present? The answer to all these questions can help you identify the value of your yacht.
The motto of every retailer is to sell their product quickly and high-priced. But, without prior selling experience and the assistance of an expert, the task can be challenging. In this situation, we are here to help you find the best value for your yacht before you sell it.
The Right Way To Find The Market Price
The market price of your yacht is basically the price that potential buyers are inclined to pay. The real scenario is that sellers, having emotional attachment with their yacht, want to sell it at a high price, whereas the buyers are keen to look for cheap and well-maintained ones.
So, what to do in this case? Don’t worry; we have the correct solution for you!
A Comparative Market Analysis (CMA) can help you make an informed decision regarding your yacht’s selling price. The following points explain what a sample of CMA may include that can help estimate the cost of your yacht:
Compare The Market Value Of Similar Yachts
It would rather be awkward if you price your yacht way too high than other sellers having the same model. Therefore, search on the internet, ask people around you, and make a wise decision. The advertised prices are usually high, too, because people tend to have the mindset of negotiating with clients. Therefore, an in-depth research is vital.
The Timespan On Market To Sell
Suppose you’ve been trying to sell your yacht for half a year by now; the impression on new customers can be bad. They might think there is something wrong with it. Therefore, selling your yacht quickly can only be possible if you set a customer-friendly price.
Analyze The Competition In Similar Categories
If the model of your yacht is a popular one, consider being the seller that really cares for a customer. If you are that inconsiderate retailer who has priced the yacht high and not ready to negotiate, you may lag in the market. Similar yachts with relatively reasonable costs may take the lead instead.
Calculate The Depreciation
The depreciation of your yacht depends on how old it is. Keep in mind the fact that a yacht is considered more valuable today rather than tomorrow. Now, to calculate the depreciation, set an average percentage rate of decrease per annum. Compare the original price of your yacht with the rate and calculate the current price accordingly.
Summarize The Collected Data
After taking into account the points mentioned above, summarize the information in a document that can hence be proof for a customer that the price of your yacht is calculated using legitimate algorithms. This can, in turn, improve your marketing value to a great extent.
By now, you have gotten familiar with the correct way of estimating the real value of your yacht. However, certain points, such as calculating the depreciation, may require expert assistance. Therefore, an experienced broker, such as the ones at Massey yacht can help you complete the algorithm.
The team at Massey yacht vows to promote your yacht at a price calculated legitimately that can garner a lot of customer traffic. Reach out to us at (941)-723-1610 or email us at email@example.com to enjoy an unforgettable experience!