7 secrets to finding the right buyer
In the last 12 months alone, Fraser has bought and sold over 47 yachts on behalf of our clients, with a combined value of almost €1 billion.
In fact, out of all the yachts sold in the last 12 months, Fraser represented the Sellers for 74% of them (35 of them were listed for sale with Fraser) and the Buyer for 49% of them (23 yachts). Out of these sales, 23% (11 yachts) were internal deals where we represented both the buyer and the seller.
But this performance is not limited to recent months. Over the last 13 years, Fraser has successfully closed more transactions than any other Brokerage House in the world — 37% more than the second place provider. And in the last 5 years alone, Fraser has successfully closed over +4.5 billion worth of yachts.
We are pleased to share with you just some of the secrets behind our approach to helping you find the perfect Buyer at the right time.
- 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.
- 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.
Want to find out more?
Contact a Fraser Broker to sell your yacht this year!