Transactional markets experience booms and lulls on different cycles. Numerous factors such as inflation, buyer-versus-seller strength and on-hand inventory can dramatically influence these periods. Fortunately, when it is time to sell your yacht, there are several strategies you can employ to strengthen your position no matter the market.
While yacht transactions do not typically follow a seasonal pattern, there is almost always significant competition. After deciding to sell a yacht, it might be wise to ensure your online presence serves to strengthen your position rather than hurting it. Here are some tips to remember:
- Listing the boat online: While this decision might seem like a given, many prefer anonymity and privacy. Unfortunately, in a competitive market, it is wise to explore all sales and advertising channels. Many times, the brokerage firm will handle this on your behalf, lessening your exposure to the online traffic. It is important to work with them to boost the yacht’s visibility. Word of mouth and private channels can yield spectacular results, but it is important to open the transaction up to a broad audience when possible.
- Posting images on social media: Many people use various social media outlets to share parts of their lives with friends and family. These same outlets can be used to increase the reach of your potential sale. From posting drone footage of your yacht underway to high-definition images of various interiors, a professional photographer can enhance the visual appeal of your stunning craft.
Transactions ranging in the millions of dollars can quickly become complex and stressful. No matter what the reason, deciding to sell your yacht represents the start of a significant process. From positioning the craft in front of the right audience to navigating the complicated transaction, it is wise to seek guidance from start to finish.