7 secrets to finding the right buyer
More clients turn to Fraser today than any other brokerage house in the world to represent and sell their yacht. Why? Because they know our track record. Our worldwide team have sold more yachts for their clients over the last 12 years than any other brokerage house in the world.
Today, over 100 Owners of yachts over 24m (79') have chosen to put their trust in Fraser's unrivalled sales record and expertise and list their yacht with us.
In a year when the demand for yachts and yachting is high, we are pleased to share with you some of the secrets behind our approach to finding the perfect buyer at the right time for our clients. We look forward to helping you enjoy the best of your yachting in 2021.
- Choose a broker with a track record in selling yachts similar to yours (brand, size, location and features).
- Select a broker you can connect with and trust.
- Make sure your broker has a strong buyer network in the markets you feel will be most attracted to your yacht and what she offers.
- Around 450 yachts are sold annually from an average of over 2,000 yachts above 24m (79’) for sale in any given year. (Although 2020 was a record year, with the most yachts sold since records began in 2009 at over 490 yachts).
- To ensure that your yacht stands out, work with your broker on identifying the unique selling points (USPs) – think along the lines of key features, condition, price, the unique stories of how your yacht has been enjoyed and the rewards she will offer to a new Owner.
- Market Intelligence is vital in guiding you about asking price and the positioning of your yacht to achieve your sales objectives within a time objective. Fraser’s Central Intelligence Team, working alongside your broker, provide you with insight as to how many yachts similar to yours are currently on the market, how many have sold recently, how long they were on the market for and their final asking price (and when possible, the actual sales price).
- Matching your yacht’s features to a buyer profile makes for pinpoint marketing and networking. The result? A higher chance of a faster sale at the best price.
- Today the American market makes up just under 50% of all buyers. However, the European, Middle Eastern, Russian and Asian markets should not be ignored.
- Use your broker’s market intelligence to gauge the Asking Price that will generate the most serious enquiries in the timescale within which you want to sell - this is a golden rule!
- Don’t simply choose the broker that says he can get more for your yacht than anyone else, only to be forced to reduce your price 6 months later due to a lack of enquiries. Market Intelligence is your ultimate support.
- An estimated 30% of sales currently take place with buyers who are new to luxury yachting. Ensure your broker will present your yacht to their database, to the industry and to potential new buyers outside of the traditional networks. Ask your broker for a marketing plan detailing email and social media marketing, networking events and traditional advertising to their own database and outside of it.
- Digital marketing with enticing video and photography are key to your success, as is the frequency of communications.
- Ensuring you have a team of experienced professionals around you will make for the smoothest and most efficient transaction. Expertise will be required from your broker, marketing, financial, fiscal and legal teams.
- Marine transactions can be complicated. And with the best will in the world, working only with your own in-house team of accountants or lawyers is rarely enough. Unless your team already have extensive yacht experience, we recommend always working with your broker, their in-house experts and recommended third-party specialists.
Would you like to find out more and start the process of selling your yacht?
Talk to a Fraser Broker today to learn more secrets to selling your yacht in 2021.