How to Sell Your Yacht and Price It Right

The most common mistake I see is pricing from other listings. Asking prices tell you what sellers hope for. Sold prices tell you what buyers actually paid. As BoatUS points out in its guidance on boat values, a boat is worth what a buyer will pay for it, and the best evidence is recent comparable sales adjusted for condition, equipment and location.

When I prepare a valuation I look at recently sold yachts of the same make and model (or the closest true competitors), then adjust for:

• Year and refits. A recent repower, new electronics or fresh paint can matter.
• Engine hours and service history. Hours are read per engine, and documented maintenance builds buyer confidence.
• Condition. Cosmetic and mechanical, which a buyer's survey will find either way.
• Location and season. Florida in winter and the Northeast in summer both see active buyers.
• Equipment and inventory. Tenders, stabilizers, toys and spares that convey.

Price a yacht too high and she sits, collecting "what's wrong with it?" questions. Price her right and you attract more qualified buyers, which usually means a stronger result.

If you'd like my view on your yacht, request a valuation. I review the comparable sales myself and reply personally, with no automated numbers.

Every serious buyer will survey your yacht, so the smart move is to fix what you can before listing:

• Service engines and generators, and gather the records.
• Address known issues. Disclosed and fixed beats discovered on survey.
• Detail her inside and out, and remove personal items so buyers can picture their own life aboard.
• Assemble the paperwork: title or Certificate of Documentation, registration, manuals, warranties and an inventory list.

Then invest in professional photography and video. Most buyers decide whether to visit based on the listing, so first impressions are made online.

Good yachts sell through good presentation and wide exposure. When I list a yacht, the plan typically includes professional photos and video, a detailed specification and inventory, syndication across the major yacht listing networks that buyers' brokers search every day, and direct outreach to buyers and brokers I know are looking for that type of boat.

Showings matter as much as the listing. A clean, cool, well-lit boat with the systems running and the paperwork on hand makes a far better impression than one that's been closed up for weeks. I coordinate access so that serious buyers can see her easily, and I qualify buyers before they step aboard so your time isn't wasted.

In South Florida, the fall and winter boat show season brings a lot of buyers into town, and in the Northeast, interest builds ahead of summer. Listing a well-prepared yacht ahead of those windows can help, but the right price and condition matter more than the calendar. A fairly priced yacht in excellent order sells in any season.

If you're moving up to a new yacht, tell me early. We can often coordinate the timing of your sale and your purchase so you aren't paying to keep two boats longer than necessary.

Your broker should market the yacht on the major listing networks, pre-qualify buyers, handle showings, and manage offers, survey and closing. The listing agreement you sign sets out the commission, the term, and whether the listing is a central (exclusive) agency. Read it carefully and ask questions. I'd rather you understand every line.

A central listing generally means one broker coordinates the sale while cooperating brokers bring buyers, so your yacht gets wide exposure with one point of contact.

When an offer arrives, it comes on a written purchase and sale agreement with a deposit. The industry standard described by the International Yacht Brokers Association is 10%, held in escrow. Under the standard YBAA form, you make the yacht available for survey and are responsible for operating her during the sea trial unless agreed otherwise, and you can stipulate where she's hauled.

If the buyer's survey finds issues, expect a renegotiation conversation. Having your records and recent service done puts you in a much stronger position.

At closing, any loan is paid off and the lender's mortgage is released. For a documented yacht you'll sign a notarized Coast Guard Bill of Sale (CG-1340). An Abstract of Title from the NVDC confirms the title history, so it's worth checking early for any old liens that need clearing.

BoatUS recommends a few post-sale paperwork tasks sellers often forget, such as cancelling or transferring insurance, updating registrations, and updating the MMSI number and EPIRB registration associated with the boat. I'll give you a checklist at closing.