If you are a yacht owner who frequents the marina, odds are you have significant insight into what separates a high-quality yacht from lesser quality ones. While your knowledge and expertise will undoubtedly aid you in your search to buy or sell a yacht, there are invaluable benefits of choosing a yacht broker to help you in that process that you’ll miss out on if you go it alone.
At the same time, it is not always a walk in the park to find a yacht broker who will represent you as you deserve to be represented. With that said, we hope this guide will give you what need to find the ideal yacht broker for selling or buying a yacht!
What is a Yacht Broker and What Do They Do?
Before getting into the details of how to choose a yacht broker and why it is beneficial for you to do so when buying or selling a boat, it is perhaps best to first define what a yacht broker is and what they do. A yacht broker is a finance professional who serves any individual planning to buy or sell a boat. While a yacht broker usually represents one party, either the buyer or the seller, they occasionally represent both parties. The services yacht brokers provide to prospective yacht buyers or sellers include:
Sourcing and appointing potential yacht buyers and sellers for the person they represent
Negotiating prices with different yacht buyers and sellers and determining a fair asking price
Preparing advertising strategies for the sale of your yacht
Drawing up necessary legal documents
Providing the yacht buyer or seller with expert industry insight and advice
Your yacht broker will start by getting to know your preferences and overall goals with buying or selling a yacht. With this information, they will do their best to find a result that mirrors your goals as closely as possible, whether that involves finding the ideal boat for you within your price range or getting optimal value from the buyer of your boat. At the same time, they will also offer you industry-based advice on your expectations to let you know if you should raise or lower them to align with the current market on yachts.
What Are the Benefits of Using a Yacht Broker to Buy or Sell a Yacht?
For the same reason that an expert in homebuilding would enlist the services of a real estate agent to sell or buy a house, hiring a yacht broker to sell your yacht is a risk adverse and prudent choice, especially if the art of the deal is not your forté. Here are some of the benefits of using a yacht broker to sell or buy a yacht!
You’ll Save Time and Energy
When it comes to selling your yacht, there are numerous tasks that can take an enormous chunk out of your time and energy. Doing it right can become a full-time job, which you likely won’t have time for if you already have a full-time job, a family to take care of or even hobbies to enjoy. For a yacht broker, doing what it takes to successfully sell your yacht is their full-time job! So, it is a much more efficient use of your time and energy to hire an expert to take care of the numerous responsibilities involved in selling a yacht.
The tasks required to successfully sell a yacht include:
Gathering a thorough overview of current market trends for the yacht
Determining a fair asking price that respects both the boat and the market
Preparing and executing an extensive and successful marketing strategy
Negotiating prices with interested parties
Marketing and Negotiating Expertise
Not everyone has a knack for negotiation, which is an essential skill to have when selling or buying a yacht. Yacht brokers use their industry expertise and negotiating prowess to get the best price for their clients.
When selling a yacht, there is the additional need for a strong marketing strategy. The world of marketing is constantly evolving in our digital landscape and you may unknowingly miss out on ways you can optimize your marketing campaign if you are unfamiliar with the latest marketing strategies or lack access to resources that can take your marketing strategy to the next level. A yacht broker will have access to those strategies and resources to make sure your marketing campaign is successful.
Extends Your Advertising Reach and Broadens Your Pool of Potential Buyers
Having your yacht appear on a broker’s list with a major multiple listing service (MLS) will extend your advertising reach far more than a post on your social media will. In general, an MLS will only list yachts that are sold by a licensed broker. Yacht brokers may also have the opportunity to show your yacht at international yacht shows and often have a pool of buyers of their own who they can showcase your yacht to.
Take Care of the Legal Aspects
The legal aspects of selling or buying a yacht are usually the most mundane and tedious. There is the certificate of ownership, bill of sale, security agreements, transfer of ownership and several other documents that need to be scoured over and drawn up. A yacht broker can lead the charge on all of these fronts so you can focus on your other responsibilities.
Provide Sea Trial to Test the Boat After the Price Has Been Agreed Upon
Before or after you officially buy the yacht, a broker will usually request and arrange a sea trial with a marine surveyor so you can test the boat on the waters for any defects or deficiencies not addressed during price negotiations. If you notice anything faulty with the yacht, you generally have a few options. You can cancel the deal or demand a full refund if you’ve already purchased the boat. If the deficiencies are a concern but not a deal breaker, you can also request that the owner fix the issues before agreeing on a sale or subtract the cost of the repairs from the asking price.
How Do I Choose a Good Yacht Broker?
While using a yacht broker can provide excellent benefits when buying or selling your boat, not all yacht brokers will have your best interest at heart. It is equally as important to find a responsible yacht broker who you trust and who has a consistent track record of producing great outcomes for those they represent as it is to find a yacht broker in the first place.
Furthermore, yacht brokers often specialize in the different types and sizes of yachts while also having expertise in the yacht market of a particular geographic location. So, it is advantageous to find a local yacht broker who specializes in the boat you are selling or considering for purchase. They will have the most available resources and expertise to provide you with full value.
In consideration of those two points, here are some steps to choose the right yacht broker for you.
Do Your Research and Have Reasonable Expectations
It is important to go into the yacht brokering process with reasonable expectations, whether buying or selling a yacht. To do that, you will need to conduct some research of your own into the current status of the yacht industry. If you lack insight into the current market value for your yacht or the type of yacht you want to purchase, you can easily mistake a yacht broker’s disagreement with your assessment as not having your best interest at heart and dismiss their service prematurely, even if they could help you receive great value for your yacht!
The research required will depend on whether you are buying or selling your yacht. If buying a yacht, you will want to make sure you know the type and size of boat best suited to your needs and research the going rate for it both nationally and regionally. Consider the features and equipment on the boat that are must-haves for you and make a budget plan accordingly.
On the other hand, if you are selling a yacht, you will want to compare your yacht broadly with others currently on the market to get a feel for how much value yours holds on the open market. Examine the high end and low end, as well as features associated with either end, and evaluate where your yacht fits within that spectrum. Your yacht likely holds sentimental value for you, but try to limit that value from the equation, as prospective buyers may not appreciate your yacht’s sentimental value as much as you.
Interview Several Yacht Brokers Before Hiring One
The bigger the sample size is, the more reliable the results will be. That adage applies to any research endeavor, including that of hiring a yacht broker! While it may be convenient to hire the first yacht broker you find, you may later regret not holding out for a better option down the road. Make sure you have a significant pool of yacht broker candidates before comparing and contrasting them. Doing so can help illuminate the best candidate for you, as cream eventually rises to the top!
The interview process can occur in person, over the phone, through email, on a video chat or whatever medium works best for you and the yacht broker. That said, make sure you come prepared with questions that will enable you to get a solid read on the yacht broker’s value for your purposes.
Ask Around the Marina and Boatyard for Recommendations
Leverage your connections at your local marina to find out if any fellow skippers and yacht owners have used yacht brokerage services. Ask about their experience with the broker they worked with, as their insight can aid in your search for a good yacht broker, regardless of whether their experience was good or bad. If they had a good experience, you can add a candidate to your pool. If their experience was poor, you can put a red flag by their name. Even if they have not had any experience with yacht brokers, they may know someone who has that they can put in touch with you.
Learn the Qualities of a Good Yacht Broker
Take the time to learn what makes a yacht broker worth their weight in gold. When you know the qualities of a good yacht broker, you will be more empowered to choose the best one for you, and the quality of information you gain from your interviews will also be enhanced. Here are some general attributes of a reliable and solid yacht broker:
They take the time to listen to your intentions, goals and preferences for purchasing or selling a yacht
They provide thorough explanations with their opinions and suggestions
They are a licensed and bonded broker in your state or the state where you are selling your yacht
They exude professionalism and are an experienced and committed yacht broker
They promptly respond to your emails and other correspondence
The brokerage they represent is professional and promptly returns your calls
They are well-respected by their clients and the larger community
They possess significant expertise and insight not only into the yacht industry but also into brokerage services and marketing strategies
Prioritize Which Qualities of a Good Yacht Broker Are Most Important to You
A yacht broker does not necessarily need to possess all of the qualities of a good yacht broker to be a good yacht broker. Consequently, it may be helpful to prioritize the qualities of a good yacht broker that are most important to you, as you may find that brokers in your candidate pool possess a mix of those qualities, while none of them possess all of the qualities of a good yacht broker.
If a candidate does hit it out of the park with every quality, they will probably be your ideal choice. That said, prioritizing the qualities you want to see in a yacht broker will help you make the best choice if there isn’t a candidate that checks every box.
Ask to View a Gallery of Their Listings and Check Out Their Reviews
Anyone can talk a big game, but the real test is backing up your claims with concrete evidence. As such, an interview alone may not grant a full image of the character and ability of the yacht broker, but that combined with actual examples of their work can give you the insight you need to make an informed judgment on their overall value.
Plan to ask each yacht broker you interview if they have a gallery or presentation of their listings that you can peruse to see if the quality of their work matches what you are looking for. Since they will likely put their best work on display, check out reviews clients of theirs have left to get a general idea of their track record.
What Questions Should I Ask a Yacht Broker?
Before interviewing a yacht broker, it is best to be prepared with questions that will help you find the right one for you. Some important questions to ask a yacht broker include:
What is your customer relationship management (CRM) and overall marketing strategy?
Do you attend boat shows, and which ones do you frequent?
How knowledgeable are you of the current market trends in my area?
Is your brokerage company represented by a well-respected firm?
Is your broker license up to date and active?
How much do you charge for commission?
How do your listings stand out from the crowd?
Do you have a video or photo gallery of your current and past listings that I can view?
What types of yachts are your specialty?
Contact Flagler Yachts for Our Superior Yacht Brokerage Services
For anyone who has a yacht on the market or is in the market for a yacht in Florida, our team of yacht brokers at Flagler Yachts would be happy to lead the way and help you get the best deal possible. Our brokers know the market inside and out in several different regions of Florida, including Jupiter, Jacksonville, Daytona Beach, Lantana, and Stuart, FL, and are uncompromisingly committed to high standards of excellence and reliability for all our clients. Contact us today to learn more about our yacht brokerage services!
Before buying a yacht, there are many things you need to consider. What most people forget to acknowledge, however, is the preparation required to ready yourself for selling your yacht. All boat owners will inevitably have to make the choice to sell at one point or another, so if you thought that purchasing a yacht was a big commitment, figuring out whether to keep or sell your boat may be an even more difficult decision for you.
Owning a boat is a great experience that can help create lasting memories and bonds between friends and families. Yachting can open your world up to new people and opportunities. Because of all the great memories made on your boat, it may be troublesome to think about selling it for a newer model or having to give up your boat-owning lifestyle completely. Despite how difficult it may be, there may come a time when selling your boat is the best option for you.
10 Reasons You May Want to Sell Your Yacht
As hard of a decision as it is to make, all boat owners eventually have to figure out if keeping their boat, selling theirs for a newer model or getting rid of their boat completely will benefit them the most. Thinking about when and why you should sell your boat is an important step when becoming a boat owner so that you can acknowledge when the time to sell has come.
Here are ten signs that it may be time to sell your boat:
1. You want to upgrade to a different or new boat.
As your family grows, technologies advance or features upgrade, you may find yourself drawn to bigger or more current yacht models. As your boat needs and desires change, the yacht model that best suits you may no longer be the one you have.
When you find the right yacht for you and immediately want to purchase it, it is important to have thought about and discussed this situation with any co-owners of the boat. This way you can have a plan of action decided on for how to begin the boat-selling and buying process.
It is important to have thought this scenario through because even though you may want to put money down on a new boat immediately after spotting the one you want, you need to make sure you think through the logistics of getting a new boat. Thinking logistically includes making sure you have a place for storage, a means of transportation and funds prepared to make a new purchase.
Because you may need to sell your old yacht before purchasing a new one, consider selling your boat through a yacht broker — their knowledge of the industry can help ensure you can find a buyer and can sell your boat for a fair price.
2. You have less time to spend on your boat.
It is possible you will find yourself in a situation where you still love your boat, but life constantly gets in the way and does not allow you much time out on the water. As career paths change, families get bigger, kids participate in more activities, social lives get more hectic or summer vacation comes to a close, boat trips may move down in importance in your family’s life. Regardless of the reason, many yacht owners find themselves in the predicament of wanting to use their boat more but not being able to find the time. If this is the case, consider selling your boat for someone else to enjoy while also putting a little extra money in your pocket.
3. You are no longer as interested in your boat.
Buying a boat is an exciting idea in theory, but it may just not be right for you. Maybe after spending more time on your boat, you realize that regular boating trips are not for you or you realize your boat is no longer much of a priority to you. If this is the case, it may be beneficial to you to begin the process of selling your boat.
4. The increased cost of owning a boat is not worth it to you.
Over the past year, boat prices have risen by almost ten percent, with new boats having low inventory and waiting lists for purchasing. As the industry becomes more popular and boat owning becomes more common, this allows the prices for boat upkeep to increase as well. Annual boat maintenance costs an estimated five to ten percent of the initial cost of your boat.
If you find yourself thinking that you put too much money into your boat and that there are other activities that you would rather put money toward, it may be time for you to sell your boat. While owning a yacht can be fun, it becomes less so when you think about the rising monetary aspects of keeping your boat. If there are other expenses more important to you and thinking about where you are going to get the money you need to keep your boat afloat, sell your boat and either use that money for something else or add it to your savings. You may find it is in your best interest to use a yacht broker to quickly sell your boat with the highest return possible.
5. You have plans to downsize.
If you plan to downsize and lessen expenses in parts of your life, your boat may be one place you can cut back. You can do this either by purchasing a smaller, more manageable yacht or by selling your boat altogether.
Choosing to sell your boat may not necessarily be what you want to do, but it might be the most economically responsible choice to make. Selling your boat will reduce and eliminate many expenses, including insurance, storage, trailers, marina fees, maintenance fees, equipment and accessories. If you sell your boat, you do not have to worry about any of these expenses, and you can allocate the money you would spend on your yacht to something else.
6. You plan to move away from the water.
Living on the coast or close to a body of water makes owning a boat seem like an exciting and reasonable investment. When you decide to move, however, having a boat can become less practical. Relocating may be the sign you need to sell your yacht. For example, if you live near the coast and use your boat in a marina, then decide to move far from the ocean but near a lake, you will not want to use the same boat for these two places. You will want to invest in a boat better suited for the type of water, temperature and weather you will be in.
If you move nowhere near a body of water where you have the leisure of owning a boat, it would be best for you to sell your boat entirely. The farther away you move from the water, the less practical and accessible, so it would be best for you to sell your boat before moving day.
7. Maintaining the boat has become too much for you.
Whether it be because of age, time management, monetary concerns or any other factor, the reality is that taking care of a boat may become too much for you. You do have some other options to consider before selling the boat completely, but in the end, it may be in your best interest to put your yacht up for sale.
Before you commit to selling your boat, think about some of the things you can do to maintain your boat by lessening the factor that has become too difficult for you. One option you do have before deciding to sell your boat because of your lack of time or energy is to hire someone to maintain your boat for you. This can become costly, however, because it is another expense to factor into how much money you need to set aside for your boat.
Another thing to think about is if money has become an issue, you can attempt to rely less on professionals and do some of the more simple maintenance work yourself. This option, understandably, may not be reasonable for you if you do not have the knowledge and skillset to do more in-depth maintenance or upkeep on your own.
However, if you have thought about different solutions that could factor into solving your maintenance issues and nothing seems to suit you, selling your boat may be the best choice. Maintaining a boat requires a lot of work and attention, and if you do not have that time and effort to put into your boat, then it is time to consider putting your yacht up for sale. Even if that is not necessarily the action you want to take, it may be the most realistic. Remember, there are professionals here to help make selling your yacht as simple and hassle-free as possible to take the strain of selling off of you.
8. It has been a long time since you last used your boat.
When you first buy a boat, it is a new and exciting thing for you, so you most likely put a lot of time and effort into spending time on the water. After a time, your boat may seem less like a novelty and more like a commitment. If you begin to feel like making time to go boating is more of a chore than excitement, it may be time to start the yacht sales process. You also should start thinking about selling if you know it has been a while since you used your boat. No matter how many times you tell yourself that you’ll get back into boating, deep down you probably know that your time owning a boat is over, and there are other things you now prioritize more than your yacht.
9. There is no reasonable storage for your boat during the colder months.
If the summer and boating season comes to an end and you find yourself without a place to store your yacht, you may have no choice but to sell. Since you can’t keep your boat out year-round, if at the end of boating season you find yourself without an adequate storage facility, use a yacht broker to sell your boat quickly and efficiently.
10. You plan to enter a new venture.
If after having your boat for a while, you decide to invest your money into other business ventures and assets, your yacht may be an expense you are willing to lose. Your boat is an expensive item that can bring in some revenue for you to rearrange and place into other investments. To get the best return for your yacht investment, consider working with a yacht broker to help you negotiate prices and get the best return for your boat investment.
Sell with Flagler Yachts
Coming to terms with having to sell your boat may be difficult for you, but at Flagler Yachts, we can help make this process easier. At Flagler Yachts, a boutique yacht brokerage, we can help you navigate the marketing and selling of your current vessel or the acquisition of your next one.
Established in 2017, we are experienced yacht brokers with knowledge of the industry that allows us to proudly serve yacht owners and sellers by helping them before, during and after the boat ownership process. We cater to the buying and selling needs of our clients with our innovative approach to marketing and acquiring the perfect vessel for each of our customers. We do not just sell yachts, but we scrutinize market data and trends to achieve the best deals for our customers and authenticate the quality of the available vessels.
How We Can Help You
When looking to buy or sell a boat, there are many reasons you should use a yacht broker like Flagler Yachts. The main reason is that working with a yacht broker can take some of the pressure off you. You will not have to worry about marketing your boat, arranging information or corresponding with potential buyers. Instead, we market, price, promote and ultimately sell your yacht for you.
Yacht brokers at Flagler Yachts have years of industry experience and knowledge in important boat selling aspects, such as advertising, conducting sea trials, documenting, arranging state-required escrow accounts and drawing up agreements. Based on our experience, we can help get you the best deals when buying or selling your boat, taking some of the pressure off you.
Our brokers have a better grasp on the industry, allowing us to obtain a fair and higher value on the boat. Also, boats often sell quicker through a broker because of the marketing time and budget put into the sale. We know accurate repair costs, which are vital for the transaction. Our brokers can guide you through the selling or purchasing process much quicker and easier than without us, as we can assure you have the proper paperwork and title service without hassle.
Contact Us Today
At Flagler Yachts, we are just as passionate as you are about buying or selling a yacht that exceeds your expectations at a reasonable price. Our service will save you time by previewing vessels, eliminating unworthy ones and reporting back to you to get your opinions. Our industry knowledge can save you money when both buying and selling, as we assess the vessel and know the current market conditions better than those outside of the industry.
If you are looking to buy or sell a new yacht, contact us today either through our online contact for selling or buying or by giving us a call at 561-295-8880.
If you’re planning to sell your yacht, look no further. The process can be daunting, and you want to ensure your yacht will be owned by someone who cherishes it as much as you have. Luckily, resources and experts with the information necessary to sell your boat for the highest amount possible are available.
Selling a yacht is similar to selling anything else — you want to make sure you get a reasonable price for it and complete the process without any hiccups. Whether you choose to have a broker place your yacht up for sale and handle the entire process for you (for a fee) or decide to sell your yacht privately, there are some things to know before getting started.
What Are the Steps to Selling Your Yacht?
Read on for a step-by-step guide on the best ways to sell your boat.
How to List Your Yacht
Preparing Your Yacht
Marketing and Advertising Your Yacht
Be Prepared to Wait
Time to Sell: Negotiation and Purchase Agreement
Sea Trials and Completing the Final Paperwork
1. How to List Your Yacht
Choosing how to list your yacht is an important decision. Naturally, you want to select a professional with experience selling yachts, as it’s a specialty industry. Of course, you can list your boat yourself, but we recommend using an experienced broker to list it, market it to the right audience, handle the negotiations and help you complete the sale.
Choosing an Experienced Broker
Experienced brokers understand the ins and outs of the yacht sales process. They often have years of experience preparing yachts for sale and know the steps necessary to complete the sale. Hiring a broker will cost you some money, like selling your home with a real estate agent would, but it may also save you money. Brokers possess the knowledge needed to answer your questions about the yacht market and marketing your boat. They have expertise in the yacht sales process and have the connections with other brokers to market your boat in every possible place. They also know how to sell your yacht quickly for top dollar. They handle the process from start to finish, including vetting potential buyers, marketing, communication with potential buyers, viewings, negotiations, sea trials and final paperwork. Selling a boat yourself can be time-consuming and possibly confusing, so hiring a broker to assist you is priceless.
If you have knowledge of selling yachts or want to save any money you would spend on commission to a broker, you can privately sell your boat. If you choose to sell privately, be sure to properly vet any potential buyers because the last thing you want to do is spend time working with someone who cannot afford your boat, wasting both your time and money.
Showcasing your yacht is paramount to a successful sale. You want to make sure it looks as appealing as possible to entice the most significant number of buyers. Your yacht may be in perfect shape, but if it isn’t, there are things you can do to prepare it for potential buyers.
Clean Your Yacht
You should begin by cleaning your yacht. Having a clean, tidy boat will immediately make a difference in the eyes of potential buyers. If your yacht has up-to-date, trendy features, a quick clean may be all it needs to increase its value and increase the interest in it. For the exterior, washing and waxing are essential. You want to take special care to address places that might usually be hidden, like compartments under seats.
You don’t want to give a prospective buyer any reason not to want to buy your yacht. You should also declutter your boat as much as you can. Decluttering it should help increase its look and value. If your yacht doesn’t currently have a crew, you might want to consider hiring workers to clean it regularly and have it ready for a showing at any time.
Give Your Yacht a Makeover
If your boat’s interior or exterior is outdated, you may want to consider giving it a makeover in a more updated style. Sometimes you have to spend money to make money, and investing some money into updating your outdated yacht is a great choice. Old linens, dingy-looking paint colors, peeling paint and outdated cabinets and furniture can both decrease the value of your yacht and its desirability. If you plan to work with a broker to sell your yacht, they can guide you in deciding which option is best for you. For example, they might recommend a simple cleaning of your yacht. However, if more extensive updates and improvements are suggested, they can show you how to update your yacht to sell it for the most amount of money.
3. Yacht Valuation
Ensuring your yacht is valued appropriately is vital to both you and any potential buyers. If your boat is undervalued, you may lose money. Conversely, if your yacht is overvalued, you may never get any offers on it and lose the money you’ve spent on marketing it. To accurately value your yacht, your broker will closely examine the market for all yacht sales but also for your boat model in particular. They will also go over any special features your yacht has and any included accessories, as each detail is important in determining a fair price.
The location where you plan to place your boat up for sale can have an impact on what you can sell it for, much like when you sell a home. Location matters, as your boat may be worth more in a place where they are less common. In a location saturated with other yacht sales, you may need to price your boat more competitively, which may affect the value. Don’t be surprised if your broker recommends lowering the price of your yacht if there has been little to no interest after it’s been listed. The price may only need to be reduced slightly to garner interest from potential buyers. Any interest is better than none in a market like yacht sales.
4. Marketing and Advertising Your Yacht
Getting the word out about your yacht is imperative to its successful sale. After cleaning, preparing and valuing your boat, the next step is to place your yacht up for sale, market and advertise it.
Your broker likely has their own website where they can list your yacht. They should also know of other brokerages with websites that can add your listing to increase the number of people learning about your boat. Another option is for you to ask them to create a website dedicated solely to your yacht. The price for each listing can vary, so you want to make sure you communicate with your broker about spending your money effectively. For any listings, you want to make sure there are plenty of photographs and videos available for prospective viewers to get an idea about your yacht. Of course, these should all be of professional quality. You should check with your broker to see if they offer photography services or if you need to seek out your own photographer and videographer. You also want to make sure that any listings are optimized for maximum search engine results. Your broker should know what search terms to include in any listings.
You can place a “For Sale” sign on your boat in an easily visible location. Using word of mouth is another free way to advertise the sale of your yacht. You never know if someone who docks their boat in the same place as you is thinking about purchasing a new yacht or if they know someone who might be interested. Your broker may also have a list of clients interested in buying a yacht like yours. In this case, they should contact them and explain the value of your yacht.
If possible, attending a yacht show to display your boat is a great way to show it off and speak with other yacht owners or those interested in owning one. Your broker may know of some in your area, or you may have even attended some in the past.
Boat shows usually garner a lot of press, which is excellent for gaining interest in your yacht. You may not get any offers on your boat specifically at the show, but you will get a lot of eyes on it, leading to possible offers in the future. In Florida, you can attend the Palm Beach Boat Show, the Fort Lauderdale Boat Show and the Miami Beach Boat Show.
5. Be Prepared to Wait
When placing your yacht up for sale, you need to be prepared to wait for it to sell. In the case where it takes a while for your yacht sale to be completed, you can still use it and enjoy it. Be careful not to go too far from where you have the boat listed, though, because you want to be close by if someone shows interest in it and wants to view it. It’s important not to wait until you absolutely need to sell your yacht, as chances are very high that it won’t immediately sell. If you are in a situation where you need to sell your yacht quickly, one option is to sell it to a yacht or boat store. You will probably not get the price you are asking for or expecting, but you will be able to get some money for your boat. If you plan to buy another boat, you may want to consider trading your old yacht in and putting that money toward your new purchase.
6. Time to Sell: Negotiation and Purchase Agreement
Any negotiations regarding price need to be discussed before any payment can be issued to you. After you find someone wanting to purchase your yacht, it’s time to talk negotiations and finalize their purchase. The prospective buyer should have already reached out to tour your boat, ask any questions about its condition and verify that you own the yacht. Don’t be surprised if they request proof of ownership. Asking about that is only to protect them from any legal battles over ownership in the future. If the potential buyer has any issues regarding your yacht’s condition, they may wish to have it inspected. They will usually pay for the inspection unless you and your broker have made other arrangements with them. If applicable, warranties for the yacht may also be discussed during the negotiation period. Your broker should fight to have the tightest negotiation possible so that you can walk away happy and with the most money in your pocket.
After the negotiations have been completed, a deposit should be paid and a purchase agreement will be drawn up to be reviewed by the buyer and their lawyer.
7. Sea Trials and Completing the Final Paperwork
After you have a serious buyer and a deposit from them, they may request a sea trial. Your buyer may request this to ensure that the yacht runs according to their liking, they are comfortable with it and it will suit their needs. A sea trial can last anywhere from a few hours to a few days. After the sea trial, and once your buyer, you and your broker have come to an agreement, the final paperwork can begin. Your broker typically handles this part of the process, as it can be difficult without specialized knowledge of the legal and financial nuances involved. At the very least, you will need to sign over the title of your yacht to the new owner.
Sell Your Yacht With Flagler Yachts
When it’s time to sell your yacht, Flagler Yachts can help. We have years of experience in selling yachts and have perfected our process in preparation to help you sell your boat. We have a highly experienced team ready to organize and market our listings. Our website is specially optimized for mobile searches, which is important because 60% of searches for yachts and boats are conducted on mobile devices. However, we use more than online resources to market your yacht. We take advantage of print advertising to make sure your boat gets the most views possible. You know how important it is to have specialized knowledge in the yacht and boat market, the knowledge to successfully market your boat and familiarity with the legal aspects of yacht sales. At Flagler Yachts, you get all of these things, all in a team you can trust. We will guide you and your prospective buyer in every step of yacht purchasing and transferring. Contact us to start the process of selling your yacht today!
If you are ready to sell your boat or yacht, you may be on the fence about whether you should sell it yourself or work with a yacht broker. A lot of people choose to take the sell-by-owner route so they do not have the extra cost of paying a broker. The truth is, selling a yacht comes with a lot of ins and outs, and unless you are knowledgeable about the market, it can be tricky to navigate. Learn how working with a professional broker can help you with selling your boat and improve the overall experience while getting you to the outcome you want.
The Disadvantages of FSBO
When you are listing a boat to sell, FSBO may seem like a great choice. You have full control over the entire selling process from showing off the boat to potential buyers, arranging inspections and reviewing contracts. However, that is just the tip of the iceberg when it comes to selling a yacht. While it may be nice to manage those certain aspects as you see fit, FSBO comes with a plethora of disadvantages that can easily be avoided by enlisting a broker. From struggling to spark interest in what you are selling to accidentally invoking some serious legal issues, there are a lot of problems that can be stopped before they happen when you trust in a yacht broker.
Those who choose FSBO for yacht sales generally run into a number of problems in terms of potential buyers. Some people struggle to get leads in the first place due to a lack of knowledge or resources for effective marketing. Not only that, but it is easy to become overwhelmed with seemingly legitimate inquiries that turn out to be nothing more than spam, scams, and dead ends.
Lack of Time
Not everyone realizes the time and effort it takes to properly and successfully sell a boat. FSBO means that you are responsible for all of the appointments related to the sale, including showings. This can become frustrating and even a bit difficult, especially if you have a busy schedule from day to day.
Awkward Social Interactions
Conversations and negotiations can quickly become awkward during the FSBO process. Even though you are selling your boat, there is a good chance that you still think highly of it or have an emotional attachment to it for one reason or another. This may become problematic when it comes to a potential buyer who wants to negotiate.
Legal jargon can be difficult to navigate and nearly impossible to perfect, especially without the experience. Unfortunately, unless you are well-versed in the proper way to write up agreements, you leave yourself open for potential fraud or even lawsuits from buyers.
Every boat transaction requires the proper documentation. If you are unfamiliar with the papers that need to be drawn up or signed, you could find yourself being confronted with issues involving the Coast Guard, your state, and other legal entities. These issues can become quite lengthy to work out, which can actually hinder your ability to sell the boat altogether.
Seller Benefits of Working with a Broker
Yacht brokers provide a number of benefits that can help make your boat-selling experience a positive one. Their jobs are to get your boat sold for the best price, and they are experts in their field. Learn how hiring a broker to help you sell your boat can be extremely advantageous to you and your selling outcome.
Save Time and Money
While it may seem like paying a broker commission is a waste of time and money, it can actually save you both in the long run. Consider all of the time and money you could waste through constant research, showings, and test drives with buyers that were not even serious about the sale. A professional yacht broker will handle all of the fine details, making them an invaluable asset to the entire selling process.
While the boat you are selling may have been your pride and joy at one time, that does not mean it is worth as much as you want it to be. A broker will provide a sense of objectivity and help you keep your expectations for an asking price realistic. They will be able to compare the make and model of the boat and help you determine exactly what a fair asking price should look like without cutting you short or overpricing it, which would deter potential buyers. Your broker will always be realistic with you, which will help you in the grand scheme of things.
Do you remember those awkward social interactions that were mentioned earlier? Brokers have tons of experience working with potential buyers, which means they also have experience in areas of negotiations. The best part is that the broker will act as a third party during communications between you and the potential buyers, so you never have to personally experience awkward interactions. Not only that, but the yacht broker is more likely to be able to guide the entire negotiation process to a fruitful outcome for both you and the buyer, so it's a win-win for everyone.
Brokers have all of the resources for promoting your boat listing at their fingertips. This means that your listing will get a lot more exposure than if you were to take the FSBO route. From online outlets such as company website listings and social media posts to placing a listing in the local print ads, you can bet that your boat will get lots of exposure that will foster plenty of interested buyers. They can also help you showcase your boat in the most appealing way, prompting even more interest from buyers.
When it comes to the boat market in your area, your local yacht brokers know it better than anyone else. They keep themselves up to date on all of the latest ups and downs of the market, providing you with valuable information when trying to sell. Having a broker by your side to sell your boat means you have an advantage over those who choose FSBO simply because of the amount of knowledge and experience brokers have to offer. Trust in what they have to say.
Safe Transfering of Funds
You will not have to worry about whether or not you will get paid when you work with a broker. FSBO scenarios can be iffy, especially when it comes down to actually getting paid for the transaction. Working with a yacht broker can help you and the buyer feel safe knowing that all funds will be moved around legally and professionally.
Skip the Nonsense
Brokers will communicate with potential buyers for you, be it phone, email, or other forms of communication. That means that you will not have to deal with a seemingly endless number of inquiries to keep track of. It also means that they can filter out any inquiries that appear to be false or scamming in nature, saving you a lot of aggravation and a lot of time. Yacht brokers are able to screen all potential interests in your boat so you don't have to.
They Work Hard in Your Favor
The bottom line is that yacht brokers work hard to provide you with the best outcome when selling your boat. They will do everything they can to ensure everything goes as smoothly as possible and to help you get the best price for your sale because in reality, if they don't help you make the sale, they don't make the commission. Having a broker means having a professional in your corner with the same goal in mind: get the boat sold for the highest fair price.
Why a Broker Looks Better to Buyers
Not only does working with yacht brokers provide benefits to you as the seller, but it also helps buyers to feel more at ease and confident with the overall experience. This means that you will have more serious, potential buyers. Find out why working with a broker looks better than an FSBO experience from the perspective of the buyer.
Buyers want to feel that everything is done right, and proper documentation is a big factor. Since proper documentation of the yacht sale can vary from state to state, country to country, registration type, boat type, and more, potential buyers will feel more comfortable working with a seller that has a broker who knows what they are doing.
Contracts should always be kept up-to-date no matter how many times they need to be rewritten. A buyer can feel confident that everything is the way it should be with the transaction when contracts are current and detail all of the terms of the purchase.
Painless Closing Process
When it comes to closing, it can either be an exciting moment or a complete nightmare. Depending on whether or not all paperwork is in order and funds have been correctly moved from the buyer to the seller, there are multiple ways that closing can become a hassle. Buyers know that brokers have the knowledge and experience to provide a smooth closing experience.
Helpful Service Recommendations
Potential buyers may not know where to begin when it comes to buying a yacht. Brokers can really help them along by offering their professional recommendations for insurance, financing, documentation, and registration needs, all of which you would not be expected to know as a FSBO.
Tips for Finding The Right Yacht Broker
Choosing the right yacht broker can seem daunting, especially since you are trusting them with the important task of properly selling your boat. There are a lot of important factors to consider to make sure that you find a broker that will get the job done right. Fortunately, there are a few tips and tricks that you can keep in mind to help you find one that is reliable and effective. Learn how to start searching for a broker that is right for you.
Suitable for Your Needs
Yacht brokers are not all created equally, which means they all differ based on personality, specialties, and more. There are brokers that come from decades of experience and those that have only been around for a few years. Some brokers come from a massive brokerage while others come from independently owned operations. One broker may know more about fishing boats while another has more knowledge about cruisers. When you are trying to decide on a broker that is best for you, consider one that is most suitable for your needs for the best experience.
Advertisements and Reviews
Do your research into the brokers that seem to provide the best service. Take notice if they have enough of an advertising presence both online and in print. Make sure that they have promising reviews. A good yacht broker will have a known presence within the community for exceptional service and a job well done. Skip past the ones that have few to no reviews and little to no advertising.
Certifications and History
Any yacht broker you consider should be a professional in the field. This means that they should always have a yacht broker license to ensure you that they are undoubtedly trained and qualified to handle the sale of your boat. You may also want to consider someone that has at least a few years of experience in yacht sales. Generally speaking, the more experience and work history someone has, the more knowledgeable and successful they will be with your selling experience.
This is a big factor for many sellers to consider when choosing a broker. On average, brokers charge around 10% as their fees for their services. However, this can vary based on the brokerage company and the size of the boat to be sold. Think about how much you are willing to spend in conjunction with the services each broker provides to find one that you feel comfortable working with.
Market Your Yacht with Flagler Yachts
If you are ready to sell your yacht, let the experts help. At Flagler Yachts, we specialize in yacht brokerage. Our fully licensed and experienced brokers know everything there is to know about providing you with exceptional service through the entire selling process. We pride ourselves on being trustworthy and reliable, catering to all of our client's selling needs. Our range of expertise is extensive, including sportfish, motor, and express yachts, outboard boats, and more.
We use every resource available to us to maximize the exposure of your listing, including social media accounts, advert programs, and other online marketing platforms. Flagler Yachts brokers also perform screening of all potential buyers to better target those most likely to end in a sale. All of our negotiations are smooth and concise with a high success rate of reaching a positive outcome.
As you have probably heard, the Vicem 67 Cruiser will be making her debut at the 2020 Palm Beach Boat Show in late March. This yacht is the smallest in the Cruiser line at this time with numerous 97's and 107's produced and delivered. The 'standard' layout will provide a 3 stateroom layout including full-beam master. She will be manufactured using the Cold Molded Mahogany/West System Epoxy. She will come equipped with Volvo D13 Diesels (other engine options are available), the beautiful Vicem interior and will have a base Retail Price of $3,550,000.
Beam: 18' 1"
Draft: 5' 9"
Fuel: 2,110 gallons
Approximate Cruise: 20 knots
Email Flagler Yachts to make an appointment to see the 67 Cruiser prior to the show! Fill out the form below.
A new model in the Classic line, the 62 is sure to turn heads just like her sisters! With a base retail price of $1,585,000 and powered by the standard Volvo D11 @ 725hp, this yacht is available in both IPS or traditional drive. This 62 foot downeast styled yacht will cruise in the mid 20's (knots). The fly bridge, stabilizers, hydraulic swim platform and water maker are just a few of the almost unlimited options available, you can have the custom yacht of your dreams -and be cruising the islands by next season for an incredible value.
50 Classic IPS
Morphing from her little sister, the 46 Classic IPS, we have listened to clients input and designed a new model. She boasts a larger galley, extended salon plus many other small improvements. Built standard as a fiberglass hull we still offer the option of a cold molded 50 IPS, of course. You can choose 2 or 3 stateroom layout, add a fly-bridge and have all the aft deck options you desire to make your day on the water that much more enjoyable. Think: swim platform, passarelle and of course the most popular SureShade. Base MSRP of the 50 Vicem IPS will be $1,148,500.
Miami Yacht Show
Vicem Yachts on Display: 55 Classic & 58 Classic
Dates: February 13-17, 2020
Palm Beach Boat Show
Vicem Yachts on Display: 67 Cruiser DEBUT & 58 Classic
Dates: March 26-29, 2020
Contact Flagler Yachts: Vicem Yachts
Used 2008 Tiara 43' Sovran, 'Current Sea', for Sale:
Custom Painted Hull: Metallic Gray
Volvo IPS 600 Pods (Fully Serviced!)
Two Ensuite Staterooms
Large Swim Platform
Dual Screen Electronics, Auto Pilot, Radar
Helm Air Conditioning (Generator)
Easily seen in Tequesta, FL ~ She is in awesome condition!
For full specifications and more pictures, click HERE (or on any picture)
Tiara Yachts has always been considered a high quality and valued vessel. "Current Sea" is in excellent condition and ready to take its new owner and guest on any adventure they chose. This boat has a very strong pedigree of maintenance and care. If you are in the market for clean turn key 43 Tiara Sovran, then you must see this boat.
The owner of our 65' Fairline Squadron motor yacht is encouraging offers with this price reduction. This is one of the nicest (if not the nicest), late model motor yachts in this size range available right now. She boasts too many nice and new features to list!
45' Rybovich Custom Sportfish @ Palm Beach International Boat Show
Hull #67 from the Rybovich boatyard went through a refit from the stringers up, completed in 2014. Priced right!, this is your chance to own a 45' sport fishing legend, completely updated.
Her lightly used Cummins QSB 550hp engines provide a fast and economic cruise at 25 knots. She maintains the traditional 45 Rybovich layout with a large salon, galley down and two staterooms. Other major highlights from the refit include all new electrical, plumbing, cockpit mezzanine seating plus an updated galley and interior. She just left the paint shed with new, beautiful blue hull sides (March 2019).
See this 45' Rybovich at the Palm Beach show, Ramp 6, Slip 661 from March 28-31, 2019.
Built in 2001 and very well cared for her entire life, she was purchased by the present owner in 2017 and he immediately set about spending in excess of $40,000 to bring her to first class level. The twin Yanmar 370 hp diesel engines with 1440 hours and the 5KW Westerbeke generator with 600 hours were all given a complete, thorough service, including re-build of all three heat exchangers with all new hoses, belts, and a shaft log.
45 Rybovich Custom Sportfish
Hull #67 from the Rybovich boatyard went through a refit from the stringers up, completed in 2014. With aggressive pricing this is your chance to own a 45' sport fishing legend, completely updated. Her lightly used Cummins QSB 550hp engines provide a fast and economic cruise at 25 knots. She maintains the traditional 45 Rybovich layout with a large salon, galley down and two staterooms.
54 Vicem Custom Sportfish
Motivated owner has Reduced Price drastically and present all offers. This custom sportfish just went through extensive work at America Custom (Stuart) as well as Michael Rybovich & Sons (PB Gardens) and is ready for her new owner! The boat is easily seen on Singer Island. Come see her as the current owner is ready to make his next boating move. Twin MAN (D2840LE403 @ 1035hp) power this 54' convertible with new running gear quite nicely. She comes with very nice updates completed as recently as late 2018!
Flagler Yachts Brokerage: New Central Listing, 54 Vicem
We are proud to present this beautiful custom sportfish made from composite: cold-molded mahogany and epoxy/resin. She is a 2004 hull that has recently had extensive work and upkeep in the past year including running gear, rudders/table, air conditioning and bright-work to name a few.
This 54 Vicem boasts:
Twin MAN 4208LE @ 1035hp
New Clear2Sea Enclosure
New flybridge seating/upholstery
New Garmin 7616 XSV
3 stateroom, 2 head layout
Easily seen on Singer Island, 'No Regrets' has beautiful Vicem wood-work and finishing, spacious cockpit and full tower.
Motivated owner says bring me a reasonable offer and she will go to a new home! Come see her today.
Call or email Flagler Yachts: 561-295-8880 / email@example.com for more information or to schedule a time to see her.
We are proud to be presenting the beautiful Sunseeker Motor Yacht: ‘#OMG’
She will be located at the Hall of Fame, North Docks, Slip #323
She features a 4 stateroom layout (sleeps 10 plus crew), on deck master, large flybridge with jacuzzi, hydraulic swim platform plus much more! M/Y ‘#OMG’ went through an extensive refit this year and boasts new teak, new interior soft goods, led lighting, and updated A/V. #Sunseeker #Yacht #FLIBS #FortLauderdale #BoatShow #MegaYacht
Fishing in the Anglers for the Cure for Prostate Cancer this past weekend (4th Annual KDW), Bradley Bass caught and weighed a 9 pound 4 ounce Kingfish to take third place in the Junior Division of the tournament. There were 85 boats fishing the tournament. The Flagler Yachts team was represented by three generations of the Bass family: Mike (co-owner of Flagler Yachts), his sons Brad and Todd and his grandson, Bradley, the money winner!
Congratulations to Bradley and the Bass family on taking 3rd place while enjoying a great day fishing for a great cause!
Flagler Yachts Winning Team
Join Flagler Yachts at the Palm Beach International Boat Show
C Dock, Slips C121 & C122, March 22 - 25
We are proud to present our 74' Horizon Motor Yacht (2000) and 56' Carver Voyager (2006). Please click on the pictures below for specifications. These boats have just been listed with Flagler Yachts and arrived just in time for the show! Be the first see them at the Palm Beach show!
56 Carver Voyager, 2006
74 Horizon Motor Yacht, 2000
New to the Market
V65 Princess Express Yacht
Her 1200hp MAN engines deliver 39 knots! She is well maintained and seriously for sale. Easily seen and shown in Ft. Lauderdale. Contact Flagler Yachts to arrange a showing.
Listings are courtesy of the BoatWizard MLS and may be centrally listed with another broker. It is offered as a convenience by this broker/dealer to its clients and is not intended to convey representation of a particular vessel.