Friday, July 31, 2009
There you are. Standing in front of your treasured yacht tied to the dock at the marina. Thoughts, running through your mind, as to whether it is time to move up or move out, given your current yachting and financial plans.
If you are considering selling, here is a few suggestions that you might want to think about.
Every one who has something to sell generally hopes that they can get the best price on the market for what they have. All too often sellers approach selling having not taken the best steps forward to bring them a quick and efficient, best price, sale.
The first tip is to get an anticipated value for what you have to sell and be realistic. SouthEast Sailing and Yachts can do that for you and it will not cost anything. Our Market Analysis uses the same tools as we use to establish trade in values. Sources include BUC, NADA, Multi-Listed asking prices, soldboats.com, (a broker only site) and our data-base of sold yachts.
Once you have the number, sit back and think about whether are willing to accept the value. Listing and or trying to sell and over-priced item really just frustrates everyone. Remember, that some brokers will accept over-priced listings simply to add another opportunity to their “bag of tricks”.
Cosmetics, Location and Condition: Okay, you have passed that emotional decision to put what you have on the market. There is a whole industry within the Real Estate market of staging property for a more effective and profitable sale. Staging relative to yachts can best be described as “Boat Show Condition”. First, place her in a location that is a marine center for what you have to sell. SouthEast Sailing and Yachts located at Saint Augustine Marine offers a great venue from dockage/storage and a full service boat yard that can handle anything from a survey lift to work once a survey has been completed . Secondly, clean it up! Both, interior and exterior, stage it with just enough “props” to give her a finished appearance. Give her a boat show feel! Consider exterior compound and waxing the hull and deck, prep exterior wood and remove rust stains. We can quote you here at SES-Y. It is important once you have done this to keep it up. If you are absentee, hire a service to check on your yacht and keep it clean, run the systems once in a while to make sure all is as it should be. We can handle any of your service needs.
Finally, photography, pictures tell a thousand words, if you are in an area where we can not get good photo’s, get some one who has the ability to take good photo’s, it is typically the first point a potential buyer will have to see what you are selling
Equipment Representation: Most equipment lists will finally become the working document for survey and conveyance at time of closing. So if you list an item please make sure that it works. If you note a bimini top, make sure that is not the one sitting in the garage with the holes in it, on a broken frame. If you have items that need service and or replacement fix it! Remove out of date equipment, that old Loran C is a liability. Bring safety gear up to spec. Out of date flares just becomes another note in a surveyors report. Do not over do it though, it may simply be better to remove than spend money. Dinghy’s, if it has a motor most states anymore consider it a boat and registration papers are required. No paper? Do not list it. Here is another one, today most surveyors are recommending an oil analysis, change all motor fluids, you do not want a surveyor sucking up some sludge from your motors and sending it off to have a buyer receive a nasty report of all sorts of stuff in the oil. SouthEast Sailing and Yachts works with every customer in getting it just right.
Boat Check: This is a preliminary third party survey accomplished by a surveyor for the purposes of validating the vessel. You are presenting a third party opinion. By attaching this to the marketing it provides a great opportunity for buyers to elevate their confidence level in further pursuing any particular listing. If you wish there are other services that can provide this function, Boat Chek is a good resource. SouthEast Sailing and Yachts believes in this marketing tool so strongly that we offer our Central Agency Listings docked/stored at our facility a flexible payment plan for this service.
Find a good Broker: What does that mean? Besides someone who is willing to work with you as a seller clearing the way to for a quick sale as noted above here are the highlights relative to what we offer here at SouthEast Sailing and Yachts:
Marketing: Marketing muscle with a punch!
Web Presence, we maintain and manage our own website. Our Brokers have the opportunity to do the same. We currently have as many as 3-4 separate URL’s that are constantly monitored for search engine position.
Internet Driven Marketing to include:
We have found that national advertizing should be left to the internet, our picks can include:
Latitude and Attitudes
Boat Shows: We feel that it is so important to get out in front of buyers, presenting both new and used can include:
In House Activities:
Info Seminars, and Sales Events
Judy’s famous “Stretch” and wonderful evening socials.
Well, now that we have found the customer for your boat, what is next. SouthEast Sailing and Yachts works with every buyer and seller through the process to include:
Maintenance, repairs and re-fits
All done in a friendly and professional environment.
If you are looking for the right people who understand the process of selling your yacht, SouthEast Sailing and Yachts are the best to have on your CREW!
And that would be me! and you can find me most anytime at 954.821.6450 and firstname.lastname@example.org
Friday, July 24, 2009
“Grant, recently we discussed the potential impacts to a consumer relative to waiting for "the market" to return versus proceeding with a boat purchase. Could you detail that thought a bit further?”
My thoughts start from the position that the sailboat manufacturers have done a good job decreasing production to meet current demand. It also appears that the new sailboat inventory seems to be clearing from dealer stock better than expected. While this is great news for the dealers, the consumer that is waiting to see their portfolios rebound before buying are going to miss out on an opportunity on the current dealer inventory.
Many customers pull cash from the sale of their current stock positions to pay for a boat. Selling stocks now to pay for a boat and taking a loss is a decent argument to waiting to purchase. However consider the other side of the coin. If they buy at today's inventory clearing prices and finance for the next two years while the market continues to regain momentum, they can pay off a loan in a few years and not have to take the current loss on the portfolio sale. The carrying cost over the two years would be the mortgage interest from the yacht loan minus the 2nd home deduction tax credit.
Here's a hypothetical scenario.
Regular Sale Price: 250,000
Clearance Price: 212,500
Savings By Buying Now: $37,500
Loan Amount: 170,000 (20% Down)
Monthly Payment: $1,318
Estimated Interest Over 24 Months: $23,251
That means the net difference between the savings by buying now and the interest carrying cost is $14,249, not counting the 2nd home mortgage interest tax deduction nor the value of boating now and for the next two years. This is a pretty compelling argument to me and I have had many customers tell me that this is a main reason they decided to take advantage of these economic times.”
“Grant, well worth the consideration by those who want to go sailing! Your example reflects as much as a 15% reduction in price, unprecedented in the industry. I imagine by acting now one might be able to even better that percentage.
You can probably complicate the issue by waiting in that with the reduced production by the builders it will create in the short run a lack of supply once sales begin to improve. We are seeing the impacts at the builders level. They are further impacted by their suppliers where OEM suppliers have reduced their production, gone out of production or have discontinued select product.. This all adds up to increased cost of the next model year production and that means increased prices when you can and if you get a hull slot.”
“Well put John. I can tell you that I am working a few deals now that are boats on order where there is no dealer inventory. Those transactions are not discounted at all due to simple supply demand as the manufacturer is building to order only. This does not take into account the new model year pricing increase as you have noted as well.
I feel like the bottom line is that consumers have an unprecedented opportunity in our business to get a great deal and go sailing now. That window of opportunity is closing and all of the people considering buying are going to say "I'm glad I did, or I wish I had." What may sound like a sales pitch, is actually stating the current reality of this opportunity.”
In summary, for those who have postponed a buying decision based on the anticipation that they are waiting for the "market to get better" you might just find that by financing today's great deals you will be far more ahead of the game by buying today and having the opportunity to be sailing today!
I thank Grant Smalling of Lending Associates for his input, if you would like to review a specific purchase interest with Grant as to the merits of financing your purchase please feel free to contact Grant at: For personalized and confidential service contact Grant Smalling Phone: (866) 723-3991 Email: email@example.com Member of National Marine Bankers Association
As for me!? I can always be found most anytime by phone 954.821.6450 or via email at firstname.lastname@example.org
Thursday, July 9, 2009
Prout International now supports building and design in Power Catamarans from 50' to 100' as well as sail catamarans from 50' to 100' all built to bluewater standards. If you have considered a Prout or like quality and are interested in further exploring the purchase and build process please do let me know.
You can find me most anytime at 954-821-6450 or email@example.com
Wednesday, July 8, 2009
Every once in a while, if you have been around the business long enough, you see yachts come and go on the market as these vessel change ownership.
I had the opportunity to preview this St Francis Catamaran a few years ago while she was on the hard in Tortola BVI and she looked just a bit neglected asking 0ver 750K USD.
I had the opportunity, today, to step aboard her in Saint Augustine Florida having heard she was back on the market and have to say she is in fine shape, further she is for sale at an aggresive price of 575K USD. She has been very well taken care of along with some great up-grades along the way. I met with the maintenance fellow who has been taking care of her and can say that she has been in the care of a professional.
If you are looking for a proper world class sailing catamaran please email and or give me a call.
You can find me most anytime at 954-821-6450 or email firstname.lastname@example.org