How long will it take me to sell a boat?
The statistics surrounding the used boat sales and purchasing in the uk are limited and not
helpful. In the us and some other countries the situation is better.
There is an obvious comparison to the house purchase market whilst the parameters maybe
similar, the statistics are not it is said that it takes 10 to 15 people to view a house in
order to sell it. In my experience as a yacht broker I would say that’s the number of
viewers is a similar number, but it will take longer to find the correct purchasers. I would
say that the average time is double the house buying at around 20/30 weeks, and the average
variance is even greater with the longer sales times going into years.
There are many major and minor factors that can affect for sale of a boat that there are 4
1 The market; the number of suitable people that the yacht broker can get to view the boat
increases the probability of a sale. We are seeing that purchaser who view the boat are not
necessarily equipped with finance to purchase a vessel. The banks have reduced their
capacity to loan money and have reduced the availability of funds especially for older vessels.
This factor has had a dramatic effect on purchase price of a leisure vessel.
Boats have been often purchased from the increased equity in house prices and the
resurgence in house prices can only assist boat sales.
Purchases of boats are returning to the norm and with a fair wind we will get back to normal
2 The quality of an individual broker; the difference between one yacht broker and another is
considerable and networking and merchandising of the vessel for sale makes a big difference
to the time it takes to sell. The way that your broker handles the administration and the
professionalism of the operator can make a considerable difference to the outcome of the
sale. The yacht brokers website , search engines and use of social media such as twitter, facebook and google.
3 Prices; you could have the best yacht broker operating in the best market place with the
best geography in a lovely marina: if the vessel is overpriced it will not sell. With the
advent of the internet there are no careless buyers.
Taking a lead from how our house price colleagues manage prices, it is very important to set
a realistic and competitive price first time, otherwise the vessel has the possibility of
staying on the marketplace for a long period of time.
A client who is selling a vessel obviously wishes to have the highest possible price returned. The tensions of this calculation can be seen on our website – sometimes the best return can be to set a reasonable price and accept a reasonable offer. ( Rather than setting a higher price and having to pay for the keep of the boat for a longer period) the calculator on the website tries to put some parameters around what is a reasonable offer.
4 Condition; those boats in near perfect condition ( I have not seen many) can command their own premium. Boats that need TLC and maintenance they enter the discount market. (sell your boat quickly)
Boats can sell on the condition alone, if the boat has been cared for and well maintained and is
completely genuine, it will sell more quickly. Buyers will not wish to miss this sale.
It is possible to transport a boat from one market to another a definite advantage for both
the buyer and seller.
The market interest in boats is returning, inexpensive boats and distressed sales, will sell quickly and the market will return to its new level.