The Role of Boat Shows in Yacht Sales Success

When selling a yacht, it may feel a little daunting, seeing as the target market can often feel like one of the smallest on the planet. Of course, this factor can indeed slow yacht sales, but it is no excuse to give up. There is a tried and tested method in securing a successful sale, and there is always someone willing to take a luxury yacht off your hands; you just need to know where to find them. Today, we want to discuss how significant boat shows can be in yacht sale success, why they make a tremendous difference to the customer, and the steps one should take when considering selling their luxury yacht. To start, let’s talk about the benefits of using a boat show to sell yours.

Giving your yacht exposure to the target audience – If there is one place you are guaranteed to find maritime enthusiasts and people looking to purchase their next yacht, it is a boat show. Boat shows will give your yacht the perfect exposure to people looking to buy. 

Fantastic networking opportunities – Boat shows also offer a chance to meet hundreds of people in the business of buying and selling yachts. If you want to make connections that will help future sales or you’re lacking the knowledge you need, boat show acquaintances are the best people to guide you.

Gives potential customers an interactive and positive experience – When planning to buy anything, having a physical interaction with the product and a positive customer experience is much more likely to encourage you to make that purchase. This couldn’t be truer for those looking to invest in a luxury yacht.

Allows for comparative analysis – Your luxury yacht will always be perfect for someone else besides you. Boat shows allow customers to compare yachts and make an informed decision based on the first-hand experience they are gaining as they browse what is on offer. 

Gives you expert guidance – If you haven’t displayed a yacht at a boat show before, you’re in for a treat. There will be experts on hand every step of the way to ensure you are doing everything right to increase the sale potential of your yacht. 

Provides the opportunity for sea trials – Nothing will help sell your yacht more than allowing people to take it for a spin. Many boat shows give you the opportunity to run on-site sea trials, giving potential customers a chance to see their next yacht in action. 

May offer customers financial incentives – Many boat shows offer customers financial incentives such as promotions, discounts, or financing options. This encourages many people to purchase a yacht during the show. If you would like to offer this, talk to the boat show organizers and see how they can help. 

Potential customers have an opportunity to take part in educational yacht ownership seminars – There are a lot of people interested in purchasing a yacht but lack the confidence and knowledge to do so. Boat shows offer seminars that educate people on everything they need to know, encouraging them to make the right decision on their yacht purchase. 

Provides brand visibility for regular sellers – If you are looking to delve into the business of buying and selling yachts, boat shows are the perfect way to get the name of your brand out there. The more familiar people become with your brand, the more they want to buy from you. 

Gives your yacht media coverage – Most boat shows receive media coverage, meaning that your yacht may be seen by a much wider audience who are not physically attending the show. 

WHAT DO POTENTIAL CUSTOMERS GET OUT OF ATTENDING A BOAT SHOW?

As well as the benefits you can receive from attending a boat show to help sell your yacht, it is also essential to look at what the customers get out of it. Understanding what potential customers want when browsing the market can help you ensure you are doing everything right. 

A sensory experience – Potential buyers need to have a sensory experience to help them make a decision this big. The more of the yacht they get to explore, touch, and relax in, the more it gives them a feel for the comfort and ambience they will experience when it is theirs. 

A chance for quality inspection of the yacht – One of the most essential parts of the yacht buying process is inspecting the build quality and craftsmanship of the vessel. Boat shows enable customers to do this onsite rather than arranging a meeting somewhere down the line.

The opportunity to see the space utilization potential of the yacht – When purchasing a yacht, some customers might want to make a few changes and adapt certain areas to their needs or desires. Seeing the yacht first-hand is the only proper way to get a feel for space utilization potential. 

A first-hand experience of the comfort and ergonomics – Allowing boat show customers to experience the living areas and amenities onboard gives them a chance to ensure your yacht is the right choice for them. 

An accurate picture of their potential purchase – When we step onboard the right yacht for us, they are often far better than the pictures we might see online or in magazines. This is one of the most thrilling experiences when purchasing a new vessel at a boat show.  

ESSENTIAL STEPS IN SELLING A YACHT

For anyone considering selling a yacht, some steps are vital in ensuring a smooth and successful sale. It may seem like a lot if you haven’t sold a yacht before, but doing this correctly is essential.

• Preparation – Ensure the yacht is in top condition and any maintenance issues are taken care of before it goes on the market.
• Market analysis – Research what is on the market to determine a realistic and competitive asking price. 
• Documentation – Gather all the necessary paperwork, such as maintenance logbooks, ownership papers and relevant certificates. 
• Professional photography and listings – Invest in a professional who knows what they are doing to ensure the pictures in your advertisements are perfect. 
• Marketing strategy – Decide what methods of advertising and which boat shows are going to work best for you and the sale of your yacht. 
• Engage a yacht broker – Hire a reputable yacht broker to leverage their expertise and extensive network. This will significantly increase the chances of making a successful deal. 
• Showcase at boat shows – Communicate with your yacht broker and make sure your yacht will be showcased appropriately at various boat shows.
• Preparing for negotiations – You must prepare negotiation strategies with your yacht broker to help you secure a deal you are satisfied with. It is imperative to put a reasonable amount of thought into this step.
• Closing the deal – when it is time to close the deal, ensure all legal and financial aspects are addressed before the next stage. 
• The transfer of ownership – Now, it is time to complete the necessary paperwork to transfer ownership of the yacht. Remember to ensure you are adhering to all maritime regulations. 
• Providing post-sale support – Always offer post-sale support to help generate referrals and guarantee customer satisfaction. 

ARE YOU LOOKING TO SELL YOUR YACHT?

If you are planning to sell your luxury yacht, Simpson Marine is a yacht broker who will get you the best possible results. We have decades of experience being one of the world’s top yacht brokers, and our knowledge and skills in this sector are second to none. Contact us today to find out what we can do to ensure a successful yacht sale for you.