The New Generation


The New Generation


The New Generation

Jasmin Forever

The New Generation

Dolce Mare

The New Generation

Thursday, February 28, 2013

Advertising & Marketing Ideas

Getting your boat shipshape in terms of cosmetics and repairs is the first step towards getting her sold.

Getting the word out is the next step. To book ads in brokerage web-sites are an obvious choice, but don’t overlook international boating publications. Word of mouth, brochures and CDs are also effective.
Prepare a complete list of the accessories that will convey with the boat.
Be prepared to show prospects your original bill of sale, certificate of documentation as well as maintenance and repair records. Buyers may also be interested in your insurance costs, so they can estimate their own expenses.
Post “For Sale” signs on your boat but be aware that some brokers will eschew to list your boat if you have contact numbers on the sign.
Be there for buyers! GSM is handy, but a live person is better when it comes to selling. Return messages and e-mails promptly. Keep noting of who you talk to and follow up on inquiries.

A yacht broker will know when and where to advertise your yacht to the public. Over 75% of yacht transactions are cooperative sales through other yacht brokers. Through worldwide Multiple Listing Services and other marketing networks, a broker has the tools to maximize exposure to your yacht.

Pricing & Asking Price

Pegging the right asking price is probably the single most important factor in selling the Gulet: price the boat too high and she won't sell, too low and you leave money on the table. Getting the price right based on age, condition and desirability is more an art than a science, and the broker you choose should add valuable insight here.

He or she will usually begin by consulting Used Boat/Yacht Price Guide. Used Boat/Yacht “Gulet” Guide is an internet-based portal brokerage sites where broker-listed yachts are displayed, usually including full specifications and numerous color photos. As the vast majority of brokers have their listings posted on this site, it provides a quick, accurate overview on asking prices (actual "sold for" prices are also available but only to brokers, another benefit of working with a broker.

While portal brokerage sites are good places to start, brokers also offer insight based on their experience as to what your particular Gulet will command based on condition, model, recent selling price of sister ships, etc. This is especially critical with classics, custom one-offs there won't always be comparable vessels on “portal brokerage sites”.

It's very important to be realistic about the price you can expect for your Gulet. Sellers often "just want to get my money out of the boat/yacht". This may or may not be realistic; usually it's not. Most Gulets, more than about 10 years old don't depreciate if they are well-maintained; however, it is almost always unrealistic to expect them to INCREASE in value, especially in the current market. This generally holds true regardless of how much you spent on upgrades and is especially true if you weren't meticulous in maintenance!

Most investments in such items as stabilizers, bow thrusters, electronics, redecorating, new isinglass enclosures, etc, will only return at best about 15-20% of the original investment, and to get even that, the investment needs to have been made no longer than three to five years ago. An additional rule of thumb: the more you add to your boat, the less you'll get back for each new piece or system added.

While Gulets in South-West Turkey condition do command a premium, more than 20% above the average asking price for a similar Gulet is rare. What will happen is that a clean, well-equipped Gulet correctly priced will sell more quickly than the average comparable Gulet, but not usually at a huge price premium.

A corollary to this is that a boat priced above market will languish unsold, sometimes indefinitely, until the price is brought in line--it's our very clear experience that a Gulet priced unrealistically high will remain unsold literally for years. So, while it makes sense to initially list a desirable Gulet in South-West condition at a premium, if she's still on the market one year later, it's time for a price adjustment!

During the selling process, a Yacht Broker can advise you on what is happening in the marketplace including price, financing and terms. These are key factors in getting your yacht sold at the best price, quickly and with minimum hassle.

When Is The Best Time to Sell Your Gulet

Unlike the small Gulets or sales of larger Gulets remain fairly stable throughout the year; there is very little seasonality in buying of boat/yachts. This makes sense, given that the weather in South West Turkey is fairly stable year-round and that there are usually larger issues driving the buying and selling of these Gulets than the season.

Having said this, winter--specifically between late April and mid- October--is generally slower, in terms of numbers of people looking at boats, than other times of the year. Note that traffic might be lighter, but prices are not affected.

The best advice is to list the boat once you've decided to sell it and have decided whether to do so yourself or utilize the services of a broker. There's no need to "wait until the spring"--the market remains active year around here in the South-West.

For the private seller it is important to research every aspect of the selling process. The best time to sell a boat will be at the start of summer when the demand is high and equally the best time to buy will be off-season.

Centeral or Open Listing

If you elect to use a broker, the next choice you'll need to make is whether to sign a central or an open listing. A central listing means that the broker has right to advertise, market and show the Gulet and that all other brokers correspond with the central broker in terms of showing or making an offer. If another broker sells the boat, the commission is split with the central agent. This ensures that he will be compensated for advertising and marketing costs, as well as offering incentive for other brokers to sell the boat/yacht.
Note the central listing does not preclude other brokers from selling the boat, only from advertising it. If another broker sells the boat, he will receive half of the commission, with the listing agent receiving the balance. Thus, other brokers have incentive to bring in buyers, and the central listing agent has incentive to aggressively advertise the boat.

The other option is to sign an open listing, which means that other brokers can advertise the boat, and whoever sells the vessel receives full commission. If the owner sells the boat himself, no commission is paid the broker.

Obviously, brokers prefer a central listing. Unless the boat is very clean and very popular, brokers will be reluctant to invest as much in marketing a boat if other brokers are representing the same vessel. There are several sources that most prospective buyers look to (Yachts For Sale, Apollo Duck, Yacht World, etc.), and having numerous brokers advertising the same boat in the same location probably won't result in a faster sale.