7 secrets to finding the right buyer

More clients turn to Fraser to sell their yachts than any other brokerage house in the world (currently over 100 owners of yachts over 24m (79 feet) have listed their yacht with Fraser) because over the last five years Fraser brokers have successfully closed more transactions than any other brokerage house in the world, 55% more than the 2nd place provider.

So why do yacht owners who turn to Fraser have more chance of finding the perfect buyer?

Here are their 7 key secrets…

selling_your_yacht_in_2019_7_secrets_to_finding_the_right_buyer
 

1. CHOOSING THE RIGHT BROKER

  • Don’t be taken in by pretty corporate marketing – the secret is in how any brokerage house will market your yacht not in how they market themselves
  • Do choose a broker with a track record in selling yachts like yours – think brand, size, location and features
  • Do choose a broker you can connect with – if you feel you don’t like them or trust them then don’t work with them (unless their track record in selling yachts just like yours is formidable)
 
 

2. KNOWING THEIR YACHT’S OUTSTANDING FEATURES

  • There are over 2,000 yachts above 24m (79 feet) for sale in any given year out of which around 450 will actually be sold
  • Ensure your yacht stands out by working with your broker on identifying the unique selling points (USPs) of your yacht – think features, condition, price, quantity of similar yachts on the market and the unique stories of how your yacht has been enjoyed and the rewards she offers
 
 

3. BEING AWARE OF THE MARKET

  • Work with your broker and their intelligence team to understand 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 what their final Asking (and if possible, the actual) sales price was
  • This is the intelligence that will guide you as to what price to ask and where to position your yacht to achieve the sale you want in the time you want
 
 

4. IDENTIFYING THEIR PROFILE BUYER

  • Today the American market makes up just under 50% of all buyers but that’s not to say the European, Middle Eastern, Russian and Asian markets are to be ignored
  • Matching your yacht’s features to a buyer profile most likely to want them makes for pinpoint marketing and networking and a higher chance of a faster sale at the best price
  • Make sure you choose a broker with a strong buyer network in the markets you feel will be most attracted to your yacht and what she offers
 
 

5. INFORMED PRICING

  • Two Golden rules of owners who sell to the right buyer in the right time:
    • Use your broker’s market intelligence to gauge the Asking Price that will generate the most serious enquiries in the time scale within which you want to sell
    • Don’t automatically go with the broker that agrees to the price you feel is right – you don’t want to sign with the broker who says he can get more for your yacht than anyone else only to have to reduce your price 6 months later because you aren’t getting any enquiries – Market Intelligence is your ultimate support
 
 

6. INVESTIGATING THEIR BROKER’S MARKETING

  • You want to know how your broker will present your yacht to their database, to the industry and to potential new buyers outside of the traditional networks – an estimated 30% of sales currently take place with buyers new to luxury yachting
  • Digital, video and photography are key to your success, as is the frequency of any communications
  • Ask your broker for a full marketing plan - it should include email and social media marketing, networking events and traditional advertising to their own database and outside of it
 
 

7. SURROUNDING THEMSELVES IN EXPERTISE

  • For the smoothest, most efficient and effective of transactions ensure you build a team of seasoned professionals around you including your broker, marketers, financial, fiscal and legal expertise
  • One solitary broker and your own in-house team of accountants or lawyers is rarely enough when it comes to marine transactions (unless of course they do have extensive yacht experience already)
 
 

 
FRASER STATS
 
Brokerage yachts sold over 24M (79 feet)
 
 

Did you find this helpful?

Want to find out more?

Talk to your Fraser Broker to discuss how best to present and sell your yacht in 2019.

 
 
 
“Fraser, with the highest number both of yacht sales and of combined sales value, is the benchmark against which we can measure the others.”
The Superyacht Annual Brokerage Report 2018