In just over a month, the fall boat show season will kick off in Newport, Cannes, Seattle, Annapolis, and elsewhere, all leading up to the Fort Lauderdale Boat Show. The yacht brokerage market, while turbulent this year, is still showing signs of strength. The United Yacht Sales quarterly update released last month showed a 22% increase in sales, year over year. However, it also showed a lower average deal price, signaling a shift in the market from previous years where used boat prices were higher.
According to the yacht industry MLS, price reductions in the U.S. are happening at a rate of about 200 boats per day. More than 20% of the brokerage market has received a price reduction in the last 30 days. So what does this mean?
"The market has definitely shifted to favor buyers from a price reduction standpoint, but there are also less boats available than there were 6 months ago," said Captain Jeff Palmer. "If you narrow the market down to just the U.S. and segment out listings under $500,000, there are about 10% fewer yachts for sale than there was back in March."
"This is where hiring a professional yacht broker with the support team, industry knowledge, and connections can make a world of difference in the sale of your boat," Jeff continued. "A good yacht broker will work with you to determine the best outcome when it comes to price, but also use their network to help find a buyer quickly, as well as work with our UYS support team to market your boat correctly." United Yacht Sales is the industry's largest brokerage firm with over 250 agents worldwide, all of whom are connected via our proprietary broker forum that allows for our entire team to be immediately notified when your boat becomes available for sale.
>> Get Started With Our "What's My Boat Worth?" Form <<
Here are 3 Reasons Why Listing Your Yacht Before Boat Show Season Makes Sense:
1.) GOOD LISTINGS TAKE TIME.
(Above: New listing: 2020 Azimut 78 Fly)
From the moment you sign a listing agreement with a United Yacht Sales broker, our process begins to go into effect. All 250+ UYS yacht brokers are notified about the new listing. A photo and video shoot is scheduled either with our in-house content team or with a hired, professional photographer. Our listing team begins the process of entering your boat into 3 separate MLS systems to ensure it is advertised on hundreds of websites. Once live, our strategic marketing is turned on and the activity begins.
The entire process of scheduling a photo shoot and getting the listing ready for market can take weeks realistically, depending on weather and scheduling. Listing your yacht for sale in August or early September can ensure it's ready to be marketed right in the height of boat show season.
2.) AD SPEND INCREASES DURING BOAT SHOW SEASON
It's no secret that the expense of exhibiting at a major boat show is significant, particularly for a company like United Yacht Sales. Our commitment to promoting our clients' listings at a boat show is evident in the amount of success we've achieved at recent shows. By listing your boat for sale before the fall boat show season, it will inevitably get seen by more potential buyers, even if it isn't on display at the show.
"All of our marketing budget goes towards helping our clients' listings get sold," said Jeff. "We target buyers in very strategic markets in ways that get them to engage with us. Whether your boat is going into a boat show or not, it's going to get seen more often during boat show season."
3.) STILL TIME TO PUT IT IN A BOAT SHOW
Normally, the final line-up in a boat show display is going through last minute changes as some listings go under contract or possibly become unavailable to have on display. Whatever the case, getting your yacht listed for sale now means that you still have time to make a decision on displaying it at a boat show. "Sometimes our displays are changing a week before the show," said Jeff. "If your boat is on the market in August and doesn't sell, there is still time to get it into a show for maximum opportunities."
If you're interested in selling your yacht with United Yacht Sales, there are a number of next steps you can take:
- Find A Yacht Broker Near You
- Call our main office at (772) 463-3131 to get connected.
- Email us at marketing@unitedyacht.com
- Fill out our What's My Boat Worth form.
ABOUT UNITED YACHT SALES
United Yacht Sales has the world's largest network of boat buyers and sellers in the industry, thanks to our team of over 250 yacht brokers in 104 different locations. Whether buying a luxury boat or selling one, we have the right expert on staff to assist you in navigating the brokerage market for your type of yacht. If you're looking at selling a boat, there is no quicker way to get activity than listing it with United. Our entire team is immediately notified every time a listing agreement is made with United Yacht Sales and many boats are sold before they ever even make it online. Our support team is among the best in the industry at marketing your yacht. 100% of our marketing budget goes towards advertising our clients' listings, a claim not many other firms can make. We look forward to working with you!
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