Do you know how much your yacht is today?
Most yacht owners spend more time and energy into buying the vessel than they do selling it. This is why during resale, some yachts are undervalued. While some are overpriced that they remain on the market for a long time.
Appraising a yacht involves careful analysis of its condition, age, levels of engineering, and equipment. Not just that, you also have to follow the trends to set a fair market value. The easiest way is to have a broker do it for you.
Tips from Superyacht Manufacturers
Pricing your yacht too low and it’s like you’re giving your money away. Price it too high and there’s a high chance you won’t get rid of it. The fact is, whatever you thought it was worth a year ago or six months ago is now out the window.
Prep the yacht. Help your yacht earn a higher selling price by cleaning and tidying it up. Make the fiberglass finish gleam, have it buffed, and polish it. Empty it with all unnecessary junk and make it appear more inviting.
- Clean the bilge and get rid of the crumbs in the galley
- Shampoo carpets, curtains, and upholstery if possible
- Change oil to suggest good maintenance
- Charge the batteries so engine starts smoothly
- Remove the gear that you aren’t selling
Get a broker. Most brokers have access to a database that offers insight to confirmed selling prices of yachts. This enables them to provide trend lines and cluster charts to anyone who wants to know a yacht’s fair market value.
Do research. When data isn’t available, contact the people involved in the sale of a yacht similar to the one you’re appraising. You can ask brokers, captains, surveyors, and dock masters to gain an insight on the market value.
If a buyer wants a sea trial, make sure that he agrees to pay for launching or refueling the yacht. Selling the boat also requires you to handle the paperwork. A bill of sale often includes price, type and size of boat, registration numbers, and equipment.
Nomad 55 Boat Manufacturer
If you are planning to buy a new yacht, go for a model which is well-known in the market. Nomad Yacht from Gulf Craft allow boat enthusiasts with an insatiable appetite for long-range cruising to explore the region’s picturesque islands.
The latest model from leading boat builders is Nomad 55. It features two electric balconies, spacious fly-bridge, beautifully adorned main saloon, spacious guest cabins, and more! It can reach speeds of up to 25 knots using twin 690hp engines.
Gulf Craft Super Yacht Builders
Deemed one of the leading boat and yacht builders, Gulf Craft is renowned for a number of successful vessels when it comes to the luxury yacht charter market. Choose a company that can keep up to the standards of your dream boat.
You can visit their website at www.gulfcraftinc.com.