If you are looking to sell your yacht this year, then both in-depth knowledge of the current market and the privileged client demographic are essential.
There is no point offering your beautiful yacht for sale if the right people don’t see it. A big purchase such as a superyacht requires a good deal of trust on behalf of the buyer and this trust is often built up over a long time between them and their industry contacts.
Here is our advice to selling your yacht this year.
Use a broker
It may seem obvious, but good yacht brokers really do have a deeper understanding of the market than anyone else and will be able to add value. Our brokers spend years, poring over yachts and sales figures to build and maintain an expert view. Our brokers work very closely together, know what yachts sell and to whom, and spend years nurturing relationships with ultra-high-net-worth clients to ensure their contacts base is second to none.
At Edmiston, our brokers are the best in the business, and we have the stats to back up this bold statement. In 2021 we held a 50% market share in yachts sold over 70m and our brokers sold yachts at twice the average industry speed – selling yachts in an average of 298 days compared with the global average of 604 days. You see, at Edmiston, we don’t just list yachts, we sell them.
Set the right price
While you may think you know how much your yacht is worth, the industry may not always agree.
Understanding and establishing a fair market price, based on the prevailing market dynamics as well as the condition and pedigree of your yacht, will attract higher interest.
Make marketing a priority
Never underestimate the power of marketing. At Edmiston we use effective and highly targeted direct client marketing and broker-to-broker marketing to get deals done.
Our 360-degree communications tools, which build upon the strong visibility of our brand persona, include consumer print marketing, such as our highly respected Edmiston Intelligence publication, alongside bespoke literature and curated yacht brochures.
We also run stand-out customised digital marketing campaigns to a qualified audience, be they prospective buyers, or our network of industry brokers. We also promote yachts through our website, and we use social media to enhance engagement.
Ensure you have good photography
By commissioning beautiful photography and film, you can communicate the experience that the new owner and their guests will be able to enjoy on your yacht.
We have relationships with the best art directors, photographers, and videographers, so if your yacht requires an updated photo or film shoot, we will happily obtain a quote on your behalf.
In addition, PR initiatives with customised content help generate editorial coverage for newsworthy stories and we utilise online business-to-business search facilities such as Yachtco to help us reach a larger audience.
Be the best in show
Where better to showcase your yacht than at one of the best shows or events in the yachting world?
It’s worth the investment in exhibiting at Cannes, Miami, Fort Lauderdale, or Monaco to ensure your yacht is more visible than competitors. Edmiston has a strong presence at these shows, plus many more VIP yachting events, and can help arrange quotes.
Consider your location
And finally, boat shows aside, it’s important that you keep your yacht somewhere accessible to people who want to come and view it, which may mean changing berths while you look for a buyer.
To find out more about selling your yacht in 2022, contact one of our brokers.