Unless you’re lucky enough to live in southern Florida, Hawaii, or another temperate destination, you’re likely subject to a limited boating season each year. For much of the U.S., the prime time for boating spans from mid-May through late October. But what does this mean for luxury yacht sellers? Let’s take a closer look at the best times to sell a yacht at auction.
The Best Time to Sell: February Through June
Common sense dictates that the beginning of the boating season is the best time to try to sell a yacht – and that’s exactly what our experience has shown. As the weather warms up, more and more people start preparing for another blissful season on the water. Meanwhile, many who want to upgrade their boat or purchase one for the first time will be entering the market. This surge of new customers creates the seller’s market you need to get top dollar for your vessel.
We suggest starting the process early in the year, especially if you’ll be completing any upgrades or professional work before placing your yacht on the market. That way, once it’s ready to list, you’ll be right in the sweet spot at the beginning of the boating season.
Why You Should Avoid Selling at the End of the Season
As the boating season winds down, fewer luxury yacht enthusiasts will be joining the market to look for a new boat, primarily because they won’t be able to use it until winter is over. At the same time, many owners may decide to unload their yacht so they can upgrade the following season. This scenario makes July through February a great time to buy a luxury yacht; however, sellers may find that their vessels sit on the market longer and sell for less than their ideal price. Therefore, it’s best to avoid listing your boat during these months.
Key Factors to Consider
Of course, there are exceptions to every rule. Here are just a few of the scenarios in which the above guidelines wouldn’t necessarily apply:
- You are already in the process of purchasing another vessel and don’t want to pay carrying fees for both.
- You live in an area with a year-round boating season.
- You plan to transport your yacht to a warmer climate to sell it.
There’s always the luck factor, too. Even if you choose to list your yacht during the slow season, you may still be able to secure the perfect buyer – especially if you opt to sell your vessel through a luxury yacht auction.
At Elite Auctions, we know what it takes to sell luxury yachts, no matter the time of year or location of the vessel. Our comprehensive services include a variety of tools – such as strategic marketing, professional photography and videography, and more – that help you draw in a large pool of qualified buyers. That way, you can get the price you deserve for your vessel.