16th November 2016

How to sell your yacht

With experienced teams in locations across Asia, Simpson Marine is uniquely positioned to sell your yacht. We ask Simpson Marine broker David Walder for insider tips on the how to make the sale of your yacht a smooth – and lucrative – process.

Why is it important to work with a yacht broker when selling your boat?
David Walder: Selling a yacht is both a time-consuming and potentially complex process, so there are many advantages to employing a good yacht broker. As brokers, we work for the vendor to achieve the best price for his or her boat that the market will bear, however, at the same time we have a duty of care to do the right thing by the purchaser. Today’s buyer will be tomorrow’s seller.

A competent broker will be experienced in the hurdles that need to be overcome during a sale, which can include: overcoming issues that arise from the survey, arranging finance and insurance, and finding a preferred mooring location. The broker’s job is to use their in-depth knowledge of the market to make the process as straightforward as possible so the transaction is completed as quickly and efficiently as possible.

What advantages do Simpson Marine brokers offer?
DW: Simpson Marine brokers are all professionals who understand the principles of brokerage for both their local and the global markets. Our brokers can make recommendations to improve a yacht’s presentation and produce a tailor-made marketing plan. Our marketing, experience and contacts has given us a database of eager buyers waiting to find the right boat.

The broker can match your boat to one of these buyers using our CRM system. We can run and manage every element of the sales process. This includes: creating the marketing collateral, carrying out viewings and demonstrations, negotiating the deal between both parties, arranging the survey, securing loans, safeguarding funds, and transferring title and registration. The broker’s job is to keep the deal moving forward swiftly to a successful conclusion.

How can a broker help you determine the best price to sell your boat?
DW: A Simpson Marine broker will determine the market’s best price by researching current asking prices of the same and similar yachts. We also subscribe to websites where we can access the sold prices of yachts around the world. This research, coupled with a personal feeling for the market and prevailing conditions, will ensure we determine the best price at which to advertise the yacht.

How does Simpson Marine get your boat in front of more potential buyers?
DW: Simpson Marine advertises across a variety of digital, online and traditional media – more so than any other Asian broker. We advertise in local publications within each territory, including yacht clubs and high-end lifestyle magazines. Our online advertisements are search engine optimised, and we always feature on the first page of Google searches against the search terms our buyers will be using. By subscribing to the Yacht Council and Yacht World portals, our listings get global coverage. In addition, we have an extensive database of our own and utilise email marketing to capture the interests of our existing and prospective customers.

Why is it important to market your boat and what are the best ways?
DW: If you want to sell your boat, particularly if time is of the essence, it is absolutely vital to market it rather than simply relying upon word of mouth. An effective, tailored marketing plan will ensure you reach the most relevant potential buyers. Since the introduction of the internet many industries have changed and the digital revolution has changed marketing and how we reach our buyers forever. Whereas in the past we may have spent time creating and buying ads that would reach a broad audience, we are now able to simply market to the niche audiences that we need to reach – making our marketing efforts far more cost-effective.

It definitely requires specialist knowledge to ensure your boat is marketed most effectively to prospective buyers. For example, many buyers these days are ignoring marketing messages in traditional media and turning to the internet to research and investigate the yachts they want to buy on their own terms. Progressive yacht dealer and brokerage organisations have in-house marketing capabilities that have allowed them to turn their attention to developing quality content on their websites to draw potential buyers to them. Once they have captured their interest, they are able to nurture those leads with relevant information and emails. In addition, they are able to use digital systems to segment their databases and to provide closed-loop reporting that identifies which activities yield the highest return on investment, making their marketing spend far more efficient.

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