Has your yacht worn out its welcome? Whether you’re looking to move on to a different model, downsize to a more humble boat, or simply lessen your financial burden and earn some additional cash, you may be searching for tips on the best way to sell a yacht. Although you might assume that it would be simple to find an appropriate buyer and get a good price for your yacht, the truth is that high-value yachts may face some difficulty on the market, even if you’re prepared with the right OC Yacht Insurance policy as backup. To get your yacht off the market as quickly as possible, consider using these three pointers for yacht selling.

1. Decide on Whether You’re Seeking a Private Buyer or a Professional Broker

One major decision you’ll have to make early on in the sales process is deciding whether to target a private buyer or go through a professional broker. You may want to choose:

• A private buyer if you already have a prospective buyer in mind
• A private buyer if you prefer a low-key process and the possibility of attracting a wide range of buyers
• A professional broker if you want to sell the yacht quickly
• A professional broker if you’re selling a very high-value yacht

2. Stage Your Yacht Appropriately and Put Together Some Marketing Materials

Similarly to home staging before a sale, yacht staging and marketing can help your yacht get snapped up quickly. Prepare your yacht by:

• Cleaning the interior and exterior of the yacht
• Adding small, water-themed decorative touches throughout the yacht
• Getting rid of old or outdated pieces of furniture that could harm the overall look of the yacht
• Hiring professional photographers and/or videographers to take pictures and video clips of your yacht
• Assembling sales materials that you can provide to your broker or distribute to potential buyers
• Setting up a schedule for conducting yacht walk-throughs with serious prospective buyers

3. Reduce Your Buyer’s Burden by Taking Care of Paperwork and Legalities

If you want to sweeten the pot a little more for any potential buyers, you may choose to take it upon yourself to do any paperwork related to the sale and take care of small legalities. To try this method, you should:

• Look into potential legal issues related to the sale, such as the value-added tax and other taxes
• Keep thorough records of the yacht’s condition and provide the buyer with all necessary documents
• Have your lawyer read and prepare basic paperwork for the sale

Even if you have a safety net in the form of OC Yacht Insurance, you may still wish to get your yacht off the market as quickly as you can. In that case, these three yacht selling tips could help you get a fair price and ensure your yacht goes to a good home.

About Mariners Insurance

Mariners General Insurance Group was founded in 1959 to protect boat owners and marine business clients. We are marine insurance experts and insure boats worldwide – in every ocean on the planet. Marine insurance is critical if you own a boat or nautical business. Trust the professionals with all of your Boat Insurance needs – trust Mariners Insurance. Call us at (888) 402-5018 any time you have questions or concerns about insurance for your vessel or marine business.