Sometimes you do the work, choose a broker, and list your yacht only to hear crickets. You have a beautiful vessel, you’ve loved her well, and people should be lining up to make an offer. So, what’s the deal? Why isn’t anyone taking the bait? There are a few likely possibilities, but they don’t have to spell total disaster for the sale of your yacht. Here are some of the most common reasons boats sit on the market without generating the enthusiasm they deserve.
1. Pricing Issues
A vessel priced too high – even by just 10 percent – can scare away even the most well-qualified buyers. Because most brokers (and their buyers) will see your listing within the first thirty days after it hits the market, enthusiasm will wane quickly if your price is perceived as too steep. This is particularly true if you’ve made it clear that you’re not willing to entertain lower offers.
The longer your yacht sits on the market because of a too-high asking price, the less interest it will likely generate. Many brokers and buyers assume that there’s something wrong with a vessel that’s been on the market for a few months or longer and may take their interest elsewhere. Luckily, listing your yacht at auction takes care of pricing issues seamlessly. By bringing multiple well-qualified buyers to the table and ensuring in-the-moment competition, you’ll skip the long list-it-and-wait scenario that can drag on in the case of an overpriced yacht.
2. Poor Marketing
It’s no longer enough to take a few photos of your boat and place a listing in a trade publication. Rather, you’ll need a dedicated marketing team who can provide professional photography, videography, and staging to make your yacht shine and ensure it meets the right audience. That usually means creating a full-color brochure, filming a video walk-through, planning an open-house event, and designing a sleek webpage that summarizes all of the glories of your vessel.
If your yacht isn’t selling, it might be time to reconsider your marketing strategy. While many classic yacht sales avenues utilize traditional marketing channels, a luxury yacht auction company may use more modern and effective methods that generate more interest from an audience of potential buyers.
At Elite Auctions, we specialize in promoting your yacht to the largest pool of qualified buyers possible – and we make it look great in the process. From creating stunning drone footage to managing private showings, our team is dedicated to ensuring a fast, rewarding sale.
3. Your Yacht Doesn’t Show Well
Some yachts just need a few cosmetic improvements to go from drab to incredible. If you’re getting a few hits but no offers, it might be time to consider making a few upgrades. An experienced listing agent will be able to suggest updates that are actually worth the investment. A thorough detailing, some contemporary decor, and new carpet and textiles could push your yacht over the edge when it comes to attracting a buyer in today’s market.
Why You Should Sell Your Yacht at Auction
When you talk to a yacht professional at Elite Auctions, they’ll bring years of expertise to the conversation, including advice on pricing, staging, and preparing your vessel for sale. Our team includes professional marketers specializing in photography, videography, graphic design, staging, and more that can help establish a custom yacht marketing strategy long before the auction even occurs. We’ll also put your vessel in front of the most well-qualified buyers on the market.