When you’re ready to sell your boat, establishing a price can be difficult.
At North South Yacht Sales, we ask our customers to keep a few things in mind when establishing a boat price –
The 10% rule
– Yacht brokers use a number of tools, (not always available to the public) to determine the value of a boat. Once a broker has established an average selling price, the asking price is set to within 10% (lower or higher) of that price.
What’s key, is to understand that the value of a boat should not be determined by the asking price of similar boats currently on the market, but rather by an assessed market value based on sold boat data.
Over-pricing doesn’t help
– Our experience shows that nearly all over-priced boats eventually require a price reduction in order to find a buyer. Pricing a boat correctly at the beginning affects the length of time a boat remains on the market.
It could cost more
– If your boat is priced too high and does sit on the market for a long time, it’s also costing dockage, storage, maintenance and insurance – and of course it’s still depreciating.
North South Yacht Sales has created a number of Boat Selling Tips that will help you get your boat ready for market.
Give one of our professional yacht brokers a call
for an assessment and evaluation of your boat.