Wednesday, October 24, 2012

Selling Your Gulet

You love the old girl, but you have to sell her to free up the cash to make the deal fly. How do you make it happen? We canvassed brokers, surveyors, buyers and sellers for their insights on how to make a boat attractive for a quick sale. Their responses will help you make the right moves when opportunity knocks on the saloon door. You can try to sell the boat yourself. But you'll quickly find that any extra money you planned to make by cutting out a broker will come the hard way. The most efficient way to move your boat fast is to place the sale in the hands of a professional. If you want to avoid the bickering and the upset that comes with showing your boat to prospective buyers, let a broker do it for you. Doing it yourself allows prospective buyers to degrade your boat in hopes of having you reduce your asking price.

Let a broker handle the details of the sale. He will do his best to match buyers with sellers. The broker wants to arrange the transfer of ownership in order to earn his commission. Brokers will present your boat to prospective buyers in its best light. By knowing good characteristics of your boat, the broker can emphasize and dwell on positive aspects rather than argue over negatives.

The broker is a professional who has built a reputation on honesty and fairness, so don't expect him to misrepresent your boat. It is this reputation of fairness and honesty that brings customers back again to the broker when they are ready for a change.

Like fishing, there are two approaches to selling a boat. A blind optimism that a “big one” will take the bait in time for supper is risky business. Careful consideration of just what kind of bait and lure will work usually pans out best. Since success depends not only on price, but also on appearance, condition, and seaworthiness, take a long, critical look at your boat and be honest about the things that need to be spruced up or fixed.

Check classified ad listings to see what similar boats are selling for. And, check used Gulet price guides found at boat dealerships and in the reference section of some libraries. A marine mechanic or surveyor can help you put a price tag on repairs. Based on loan pay-off amount, if any and improvements you may have made, establish a minimum price you are willing to accept for your Gulet.

Many sellers set the asking price 10-15% higher than rock bottom so there’s room for negotiation, but be prepared for the “hard-bargain” buyer who offers half what you’re asking. And, keep in mind that when it comes to used Gulets, some boats hold their value better than others.


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