DETERMINING THE RIGHT PRICE FOR YOUR YACHT
In order to achieve a timely sale, your yacht must be listed and marketed at the correct asking price. Our brokers are highly experienced in market evaluations and will be able to advise you on the best price for your yacht. The goal is to receive the highest price possible and to help you get the greatest return on your investment. However, starting out with a listing price that’s too high can actually backfire in several ways. An overpriced listing can result in a boat that lingers on the market and stagnates. The listing loses momentum and enthusiasm among buyers and brokers. This can also make buyers wonder if there’s a problem with your boat that has turned off other prospective buyers. They may start to make negative assumptions that aren’t true. It’s also important to remember that your boat continues to depreciate in value as it sits, you’ll still be paying the overhead while you’re no longer using it. Pricing your yacht fairly and accurately gives you the best chance to grab buyers’ attention and also maximizes your base of interested buyers.
Many factors influence the final decision on how to value your yacht. It’s important to understand how your boat compares to the competition. You must keep in mind how your yacht stacks up, not just to ones exactly like her, but to all boats of similar size and price. These days, buyers are more informed than ever. It’s important to remember that with a quick search online, potential buyers will know exactly what other similar boats are on the market. They’ll also see exactly what those other boats are selling for. Ultimately your yacht is worth as much as a buyer is willing to pay. This can sometimes work in your favor, if there is a shortage of similar boats on the market, your yacht could fetch more than you were expecting. This is where the expertise of a broker with their finger on the pulse of the industry is key. An experienced broker knows how various makes, models, and years have been performing. They know what else is on the market- active, under contract, and closed, and they have the most up to date information about exactly how much those boats are selling for.
Each of our brokers is highly experienced in the sales and purchase market and will undertake a thorough evaluation of your yacht before proposing an asking price. Our Brokers enjoy a significant advantage over private sellers as they not only have access to the data from all listings on the various MLS and yacht publications, but also have access to all the records of the actual selling price of sold boats and time taken to achieve a sale. This information is vital when setting an appropriate price. Working with access to this data and considering current market conditions as well as your desired time to sell will determine an appropriate price to ask for your yacht.
Our brokers are some of the most experienced in the industry, every year we visit hundreds of yachts around the world. We are constantly gathering market knowledge and sharing it within the company to ensure that the whole team has the most reliable and up-to-date information possible. Wherever possible we will also visit your yacht and perform a thorough assessment of it before completing our market evaluation and providing you with an accurate suggested asking price.
To receive your yacht evaluation contact us by filling out the form below. We will be in touch with you as soon as possible to set up an appropriate time to discuss your goals and objectives as well as gather more specific information about your yacht to more accurately evaluate your asset and determine an appropriate price to list it for.
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