We Yacht Brokers are very knowledgeable on marketing the pluses of owning a boat. And those of us Yacht Brokers that actually have a vessel have a clear advantage. However what we do not particularly like are the difficulties connected with advertising a boat in a depressed market; it's challenging to say the least. But it must be done.

A yacht, like automobiles and houses, takes a beating in a bad market. Values can nose-dive in a single day simply as a result of supply and demand. If you find yourself wanting or needing to sell your boat, you will understand the situation. All of sudden it appears like there are numerous despairing boat owners, each and every one of whom seem to own a boat better than yours, at a reduced value than you are set to receive. At the same time there seems to be fewer genuine Buyers. Those Purchasers that are around are searching for a deal. It seems that the only means to sell a vessel is for the seller to take a beating and sell at a significant loss. The ironic part is that very often, that loss is not necessary. To a considerable extent, those losses in the vessel market are many times attributable to the seller's deficiency of preparedness. Allow me to elaborate with a few factors.

Factor 1 - Do you really desire to sell your vessel? Your own psychological mind-set is perhaps the best beginning factor in the proces of effectively selling your boat for its supposed actual worth. It's vital to be clear from the start that you really do want to sell your boat. The fact is that a good number of owners are indecisive about the resolution to sell their boat. Possibly they are still attached to the vessel and all the enjoyment that it gave them. Reality is, that unless you're completely committed and 100% sure in your own way of thinking, it simply won't transpire.

Factor 2 - Condition

You are in the market for another home. You visit a local residence that you viewed on the Internet. When getting close to the front entrance, it would seem that the residence has not been maintained in years. As the real estate person shows you inside the entrance, you are hit with the stink of waste, not a good start. Then you come across the den where the rear wall and top sheetrock is destroyed, pieces fallen all over the floor. Additional research shows a sizeable roof leak. And after you ask about the heat and cooling you are informed that it has not functioned in a long time. However the residence "is a bargain" you are informed; in the condition it is in. So you are not getting that home! Not many individuals are looking to acquire a project at any cost.

It works the same when purchasing and selling yachts. There is a trend for Sellers to "give up" in essence before we in fact start promoting a boat by dumping a dirty yacht that requires 'catch up' maintenance, in the hands of a Yacht Broker, to all intents and purposes washing their hands of the project. This is a call to failure. Your Yacht Broker will have a difficult time generating attention while making excuses for a vessel needing considerable maintenance. In other words if you are "through with that yacht", you won't be recovering any significant amount out of the transaction. It is always better to spend some money at the beginning to put the boat in a good shape; doing this will cause your yacht stand out from the crowd.

Factor 3 - What is your yacht's actual worth? It is tougher to sell a yacht for its true value in a down market, but it is possible. The important essentials are as follows:

a. the acknowledgment of Buyer mind set; Purchasers are looking for a bargain because they know it is a Purchaser's market,

b. your determination, do you really desire to put her up for sale or are you just testing the waters?

c. presentation of the vessel; bear in mind, condition, condition, condition. Well maintained vessels consistently bring more cash than poorly maintained yachts.

But selling a boat in a depressed economy necessitates that you, the Seller accept the truth that a boat is only worth what you are agreeable to take and a Buyer is prepared to give you. It's similar for real estate property. As your Yacht Broker, I will supply recent comparable sales of similar boats; these sales indicate what the going rates are for sales of the identical model and year yachts. We make use of these figures to arrive at a reasonable and fair worth; one that we recognize Purchasers will be prepared to give.

Factor 4- Are you prepared to accept what the market will bring forth? Setting the price of your yacht drastically higher than the market will bear will do little more than make you frustrated. Buyers regularly keep away from overpriced yachts just because they perceive the Seller as not being realistic and therefore most likely not prepared to negotiate a lower price. That may not be what you, the Seller, would actually do, but that could be what Purchasers believe. If comparable year and type boats have been selling for $140,000.00, you can disregard that you actually want to receive $170,000.00; the market will just not bear it.

Factor 5- Presentation

The point here is to realize that as Yacht Brokers, we are not promoting a vessel... we are promoting a dream. And for that dream to become reality a vessel must "appeal" to a potential Buyer. The boat must signal the Purchaser to get nearer and take a good glimpse. Realtors name it curb appeal, I call it dock appeal. I had a yacht showing a few days ago and when the buyer got onto the back deck of the yacht, she simply said…..WOW! The seller had done his job properly; the yacht was spotless and tidy. I had no excuses to vocalize on how the vessel presented itself.

In reality, a good number of new boat Buyers understand not much about the truth of boat ownership. Such Purchasers think that yacht ownership is simply dressing in their yachtsman clothes, getting on the boat with their admiring friends waving, powering up the engines and operating off into the sunset, with themselves in total control. In truth, this image is a little delusional! Yet this is the reality that you as a Seller, must face. You and your Broker must make certain that in every stage of the selling progression, vessel condition, pricing and look, potential buyers are hit with a presentation that offers the vision to them. We must speak to the Buyer mind set.

If we have completed our job properly Mr. and Mrs. Prospect Buyer will fall in love with your yacht and as everybody knows; lovers always spend money on their true love. We trust you have been convinced to avoid passing full responsibility for the sale of your vessel completely across to your Yacht Broker. We recommend that you remain pro-active and organized and maintain your vessel to high standards worthy of a reasonable price. None of the ideas here are very costly. Instead they entail a little thinking and responsibility to present the marketplace the best yacht at the fairest price that you can deliver. Stick to these points we have reviewed and you can expect to make a lot more money out of the transaction, in the middle of possibly the worst vessel market in decades.