Choosing A Broker

By January 14, 2016The Yacht Business

When you have decided to sell your boat the first and most important decision to make is which yacht broker will market your boat for you.  There are over 1000 Yacht Brokers and salespeople licensed in the State of California.  Many of them are in San Diego.  Personal experience and recommendations are the best way to find a good Yacht Broker and Company.   If you personally have a favorite yacht broker and he treated you well when purchasing your current boat or helped you successfully sell your last boat then by all means be loyal and give that person your business.   If on the other hand, your past experience was not that good and you believe that the person handling your sale or purchase performed less than you have hoped then you should look elsewhere for a new broker.  Start with friends or dock neighbors and ask for their suggestions for a good professional broker for you to contact.  Call or personal visit these brokers and talk to them about how they would market your boat and the efforts they provide to move your boat through the sales process.  Do they have the expertise and knowledge about your type of boat?  Will your boat get the attention it will need to sell among all the other types of boats listed at the brokerage?   Ask how they will advertise your boat through print and/or internet media.   Ask how they will process inquiries about your boat as they come in from the phone, internet or walk in business.  Do they participate in local boat shows and do they think your boat would benefit by being presented for sale at an upcoming boat show?   Do they discuss with you the condition of your boat and suggest ways to improve the salability and chance you will receive a good value for your boat?  Make sure the broker you choose does the research and provides you a complete market analysis of the model and year of your boat.  Pricing your boat in today’s market is extremely important.   In a previous article, I cautioned that the selling price of your boat will have nothing to do with how much you owe the bank and very little to do with all the money you have spent on equipment and improvements in past years.  Your broker should be able to give you educated advice on pricing your boat.  Placing your boat on the market at an inflated price hoping someone will want it so bad that they will pay over market is wasting your time and the brokers and hurting your future efforts to sell the boat later at the correct price.