September 22, 2022
What’s the Efficient Way to Sell Your Luxury Yacht Profitably
A luxury yacht is a dream you are selling. And dreams must be beautiful to sell easily. But what if your yacht is not selling? What if, despite your best efforts, it just languishes on the market, unsold and gathering dust?
Here are a few tips to help you sell your luxury yacht profitably:
1. Make sure your yacht is in top condition
This should go without saying, but a luxury yacht that is not in pristine condition is going to be very difficult to sell.
If you want to get top dollar for your yacht, make sure that it is in tip-top shape both inside and out. This means regular cleaning and maintenance, as well as any necessary repairs or upgrades.
A quick checklist of what you need to do to prepare your superyacht for a super sale is:
- Clean the exterior of the hull and superstructure until it shines
- Wax the hull to protect it from the elements
- Polish all stainless steel fixtures and fittings
- Clean and polish all windows, mirrors, and glass surfaces
- Dust and vacuum all interior areas, including hard-to-reach places
- Shampoo all carpets and upholstery
- Clean and polish all wood surfaces
A little investment in refurbishing your boat can go a long way in helping you sell it quickly and for top dollar.
2. Take professional photos
Professional photos are a must when selling a luxury yacht. These photos should highlight the best features of your yacht and make it look as appealing as possible. Hire a professional photographer who has experience taking photos of luxury yachts, make sure the photos are well-lit and show off your yacht in the best possible light.
3. Use social media
Social media is a powerful tool that can be used to reach a large number of potential buyers quickly and easily. Create accounts on popular social media platforms such as Facebook, Twitter, and Instagram, and use them to promote your yacht for sale. Make sure to use high-quality photos and include all the relevant details, such as the asking price, the dimensions of the yacht, and any special features or amenities that it has.
Some of the technical specifications you must mention are:
- The length overall of the vessel
- The beam of the vessel
- The draft of the vessel
- The displacement of the vessel
- The type of hull and superstructure construction
- The material used for the hull and superstructure
Also document the following:
- The range and capacity of the vessel
- The year the vessel was built
- The builder of the vessel
- Boat’s key systems, such as electrical, mechanical, and navigation systems
- Amenities on board, such as air conditioning, generators, refrigeration systems, watermakers, etc.
- Cabin lights, navigation lights, window latches, water taps, etc.
- Belts, cables and hoses
- Fluid levels
- Safety Gear
If you are selling a used yacht, also mention the date of the last survey. Proper documentation will give buyers the confidence they need to make an offer on your yacht.
4. Advertise in luxury magazines
Many high-end magazines cater to wealthy individuals, and these can be great places to advertise your luxury yacht for sale. Look for magazines with a large readership in your target market, and place ads in both the print and online versions. This will ensure that your yacht gets maximum exposure to potential buyers.
5. Host an open house
An open house is a great way to show off your luxury yacht to potential buyers. Invite interested parties to come aboard for a tour, and make sure to have a professional host on hand to answer any questions and give out information about the yacht. This is a great opportunity to make a good first impression and get potential buyers interested in your yacht.
6. Hire a yacht sale agent
If you want to give your yacht the best possible chance of selling quickly and for a good price, hiring a professional yacht sale agent is a wise decision. These agents have extensive experience in the luxury yacht market and know how to market and sell yachts effectively. They will also be able to handle all the paperwork and legalities involved in selling a yacht, which can be a daunting task for someone who is not familiar with the process.
Some of the paperwork you’ll need for a luxury yacht sale in Dubai are:
- The yacht’s registration papers
- The bill of sale
- A valid UAE residency visa (if you are not a UAE citizen)
- Your Emirates IDA no-objection certificate from your employer (if you are employed in the UAE)
- A copy of your passport (if you are not a UAE citizen)
- Proof of ownership of the yacht, such as a builder’s certificate or import documents
Hiring a professional yacht sale agent, like Royal Yachts, is the best way to ensure that your luxury yacht is sold quickly and for the best possible price.
7. Price it right
Pricing your yacht correctly is essential if you want to sell it quickly and for a good price. Work with your sales agent to come up with a competitive asking price that reflects the current market value of your yacht. Some of the things that are considered during yacht valuation are:
- The age of the yacht
- The condition of the yacht
- The size of the yacht
- The features and amenities of the yacht
- The location of the yacht
- The market conditions
By pricing your yacht correctly from the start, you will avoid wasting time negotiating with lowball offers and increase your chances of a quick and profitable sale. Still, since you may need to negotiate on the price, have some wiggle room in your initial asking price.
Selling a luxury yacht can be a complex and time-consuming process, but with the right approach, it can be a quick and profitable transaction. By taking the time to prepare your yacht for sale and working with a professional yacht broker, you will give your yacht the best chance of selling quickly and for a good price.