Selling Your Boat

There are many reasons why owners want to sell their boat. Lack of time, health reasons, or the desire to upgrade or downsize are the most common reasons to sell. If the time has come for you to sell, a reputable brokerage will guide you through the following process:

• A good yacht broker will first discuss with you the true marketable value of your vessel. To accomplish this, the broker will examine your boat and its equipment, noting its age, maintenance and condition. Full disclosure regarding your vessel’s condition is important at this time. They can then research comparable vessels that are currently listed for sale.

• Your broker will also research the website, SOLDBOATS (very important). You’ll want to know how much realistically you can get from the sale of your boat. Soldboats is the key to help you decide what would be a reasonable price to initiate your listing.

• Next, you will be asked to sign a listing agreement. The agreement should disclose the sales commission (when sold) and length of contract. This gives the broker permission to gather photos/videos, specs, show instructions and maintenance records, and put it out there on the MLS sites, marketing it with as much visibility as possible.

• Naturally, you’ll want to choose a broker/brokerage that is in relatively close proximity to your boat! This increases its showability. If you list with a broker in Michigan and your boat is in Florida, it really doesn’t make sense.

• Your broker will accompany prospective buyers who will be viewing your vessel. They will NOT start engines or systems during showings. They will simply show them around the boat, discussing systems, vessel maintenance history, etc. You should expect to receive feedback from them on how your showings went (positives and negatives).

• Your brokerage will handle the offer negotiations, assist with marine survey schedule, and keep in contact with you during the entire sales process. Funds will be collected in escrow, and closing paperwork will be gathered and completed. Any associated title work or payoffs will also be taken care of during the closing process.

Yacht brokers help make selling your boat a pleasant, stress-free experience. It is our GOAL to assist you from start to finish.