Everyone decides to sell their boat for different reasons: you might be planning to switch to a more suitable vessel, you don’t have time in your life right now to enjoy the cruising lifestyle, or financial factors could drive your decision. Whatever the motivation, every seller wants to achieve a great sale price and experience a stress-free transaction. To help realise these goals, we’ve compiled five key points to consider when preparing your catamaran for sale.
1. Arrive at a realistic sale price
It’s vital you settle on a realistic selling price for your boat. Your broker will be able to provide the current market value and recent similar boat sale values.Typically, people believe their boat is worth more than it is due to the emotional investment they have developed. Listen to your broker’s advice as there won’t be a second chance to launch the sale of your boat. If the price is too high when launched to the market, you will not gain initial interest. An over-priced boat will lose momentum and interest in the market place resulting in a much longer timeframe before you eventually decide to reduce the price to meet the market and achieve a satisfactory sale.
2. Find the right location
It’s a common mistake to believe that once your boat is listed on the market, potential buyers will simply come to you. However, this usually isn’t the case. Be prepared to relocate your boat to where the most amount of potential buyers may be.
It is smart to have your boat available for inspection in a location near your broker and an airport so interested buyers can easily travel to see it and gain all the relevant information. Even better, choose a location that is close to haul-out facilities in the event a genuine buyer wishes to conduct a thorough full-vessel inspection. When it’s on display or you’re taking photos for the sale, place your boat on a hardstand or a clean marina for better exposure, not in swinging mooring or a private berth.
3. Prepare your boat
Before you take promotional photos and potential buyers step aboard, ensure your boat is looking its best. Clean it thoroughly, emptying all clutter, food and personal belongings. A potential buyer needs to be able to see its maximum space and storage capacity. Use minimal styling to allow buyers to imagine the boat decorated and furnished to their own taste.
4. Carry out any necessary cleans and fixes
Wherever possible, employ a professional boat-detailing service to conduct a comprehensive clean of your vessel before it’s made available for public inspection. A clean and fresh-smelling boat goes a long way to making a great first impression. It is also extremely important to complete any repairs or maintenance that your boat needs before any buyer books an inspection. Your broker will provide you with a list of recommended items needing attention. Listen to their advice as it will save you the hassle of completing them later or significantly reducing the sale price when a buyer identifies any such faults.
5. Choose the right broker
Choosing a professional broker with proven experience in selling similar boats is instrumental in achieving a speedy and successful sale.
A good broker will already have an expansive database of genuine buyers who are looking for a boat such as yours. They will have a strategic marketing plan to pitch your vessel to the right target market, which will include taking high-quality photographs, producing effective promotional material such as signage and brochures, and a comprehensive plan to advertise your listing using online, print, and special event platforms.
The right broker will also conduct regular communication to update you on the progress of your boat’s sale, including amount of buyer interest, possible adjustments to sale price, and any other suggestions to enhance the prospects of a successful sale.
For further information on selling your boat, contact Multihull Solutions today.