Top Tips & Mistakes To Avoid When Selling Your Yacht
Selling a boat is no easy task. It’s not as simple as listing it for a fair price and getting the pay you want. Plenty of mistakes can be made during the process, and even the most minor can put a dent in your potential profits. As your local boat dealer, Sovereign Yachts is here with top tips and mistakes to avoid the next time you’re looking to sell your boat!
Factors That Can Discourage Inquiries On Your Boat
Not every buyer is eager to write out a check without much hassle. To them, buying a boat is a big investment. Used boats are especially tricky since there are plenty of areas to inspect and scrutinize. Place yourself in their shoes. Wouldn’t you want to make sure you’re not putting your hard-earned cash into a bunk rig? This is precisely why working against their favor will hurt your chances of getting so much as a DM.
Here are a couple of mistakes that stop sellers from getting inquiries on their boat:
- Poor presentation will cause buyers to continue scrolling past your boat in a matter of milliseconds. Prepping your boat like new before you sell it will make it look more enticing and generate leads.
- Overpricing your yacht will discourage buyers from attempting a purchase, since negotiating the price still won’t bring it down to a reasonable range. You will have to wait for someone who doesn’t mind overpaying for a used boat, and that’s a rather niche audience.
Critical Mistakes You Could Make at the Point of Sale
Just because you manage to get an inquiry for your boat doesn’t mean that the sale is in the books. In fact, it’s entirely possible to meet with a good handful of prospective buyers and have them all fall through. But if the buyer takes the time to meet in person, what can stop them from purchasing the yacht? Most buyers are smarter than they look and know how to spot red flags.
One of the main reasons for yacht buyers declining a sale is finding defects that weren’t made clear on the original listing. Even so much as a noticeable scratch or dent on the hull should be noted on the sales page before the buyer goes out of their way to see the yacht in person. Failing to disclose some of the more hidden issues can lead to legal trouble if the buyer encounters problems after finalizing the purchase.
Never Rush the Sale! When you fail to take the time to do everything you need for a proper boat sale, you can hurt your chances of receiving the best possible offer, let alone a fair one. Plenty of sellers who have rushed the process for the sake of instant profits have found themselves regretful of being undercut. There’s also a good chance of your buyer seeing you as a walking red flag if you seem a little too hasty trying to push the sale. |
Failure to Acknowledge the Significance of Boat-Selling Expertise
Depending on the person, opting for sale by owner (FSBO) can be a mistake in itself. Not everyone has the expertise to reach a safe and profitable outcome. Even if you think you have a handle on it, you won’t have the same tools and outlets as a certified boat seller. Having access to exclusive selling platforms and various safety nets always makes it worthwhile to go brokerage, and a mistake to not hire them.
Learn more > Yachts Sales: FSBO vs Brokerage - Which Is Better?
Sovereign Yachts Can Sell Your Boat For You at a Fair Price On a Safe Platform
Don’t make a mistake you’ll regret. Trust Sovereign Yachts to sell your boat for the best possible outcome! Sit back and relax as we help you receive fair offers and guaranteed cash for your yacht with no strings attached. Give us a call today to learn more about getting started.