Why you should list your yacht for sale in 2022
Why should you list your yacht for sale in 2022…simple, right now, the market is in your favor, as we are in a “seller’s market”. Stemming from a year where inventory levels were at an all-time low, the demand for boats in 2022 is picking up where it left off — continuing the seller’s market trend for pre-owned yachts.
What exactly is a seller’s market? In simple terms, used yachts are selling for top dollar and quickly due to low inventory and a surplus of boat buyers.
Why list your yacht now?
Now is the perfect time to list your yacht for sale, and here’s why. For starters, boat show season is quickly approaching, along with buying season for other parts of the US. We are in peak boating season in Mid to Southern Florida, which makes for excellent cruising waters as well as fishing with Sailfish season beginning. With fewer new inventory to select from in years, buyers will consistently hear that they cannot purchase a boat until the fall of 2022, 2023, & 2024 with some builders out longer. This pent-up demand has spilled over into the brokerage market, creating the perfect opportunity for sellers.
For instance, areas like New England and the Great Lakes are about to go into their buying season so they can have the next boat, rather than a new boat, for the summer months, and most even prefer to have a boat on their dock for Memorial Day. With this kind of plan, buyers get in a time crunch because it typically takes at least 30 days to close on a boat. Not to mention potentially more time for any findings that arise during the closing and extra time to move the boat north. With that said, consumers are searching for boats now.
What are the benefits of listing your yacht in a seller’s market?
Many benefits come from listing your boat in a seller’s market, one being the price. Current market trends show that sellers have an advantage when listing their yacht for sale. The ongoing scarcity of new and used boats continues to drive demand up in a time where boating is more relevant than ever. As long as demand remains high and inventory remains low, your pre-owned yacht can sell at a higher value and faster pace, so long as it is within a reasonable price range and in good condition.
You can also trade in your yacht for a newer model while taking advantage of the high market value. Every year new technologies are available from manufacturers with new upgrades on engine packages, electronics, Seakeepers, sonars, and so much more. New technology not only enhances performance standards but also advances safety onboard. While we prepare to sell your yacht or trade it in, our specialists can begin the build process with you on a new boat from renowned brands including Viking, Valhalla, Princess, Prestige, Cruisers, and Maritimo.
Maximum Exposure — Why you should list your yacht for sale in 2022
Another benefit of selling your yacht now is maximum exposure due to the number of listings available on the market. Yacht brokers currently have more time to spend focusing on your listings — so what better time to maximize the value of your listing. Diminished competition equals additional exposure on social media posts for your boat, targeted email campaigns, and boat show signage that will get your boat noticed.
Not everyone wants to be a two-boat owner. So, if you are looking at moving up, down, or newer, the last boat needs to go. We can help you be proactive and make that happen, so when the right fit becomes available, you are ready to move instead of competing with offers from customers that are ready to buy on the spot.
With many variables at play, there remains a strong demand for spending time with family and remaining safe from the challenges presented today. That is why many consumers continue to turn to boating. While it remains a sellers’ market, for now, this divine opportunity will not last forever. Once inventory increases, your chances of getting top dollar and a quick sale decrease. If you have been contemplating selling your boat, now is the time to move. Our certified, professional yacht brokers can guide you through the selling process to ensure you get the best deal possible. Contact us today.
Acknowledgments:
Thank you to Galati yacht broker Andrew Maryott
for his expert advice and comprehensive knowledge on this post.
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