Why now is the perfect time to list your yacht for sale
Arising from a year where inventory levels were at an all-time low, the demand for boats in 2022 is picking up right where it left off as a seller’s market, which is great news for those boat owners looking to sell or upgrade.
What exactly is a seller’s market? In short, pre-owned yachts are selling fast and for top dollar amounts due to low inventory and a surplus of boat buyers.
Why list your yacht now?
Buying season for other parts of the U.S has already commenced and it is peak boating season in Florida, which makes for excellent cruising waters as well as fishing. With fewer new inventory models to select from, buyers will consistently hear that they cannot purchase a boat until 2023 or 2024, with some builders out even longer. This pent-up demand has spilled over into the brokerage market, creating the perfect opportunity for owners looking to sell.
For instance, areas like New England and the Great Lakes are in the middle of buying season so they can have the next boat, rather than a new boat, for the upcoming summer months. With this kind of action, buyers get in a time crunch because it typically takes at least 30 days to close on a boat, or more depending on any findings that arise during the closing, and the 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. 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 used yacht can sell at a higher value, as long as it is within a fair price range and in good condition.
Sellers can also trade in their yacht for a newer model while taking advantage of the high market value. Every year new technologies are available from manufacturers with upgrades on engine packages, electronics, Seakeepers, sonars, and more. New technology is not only highly desirable by boat owners; it enhances performance standards and advances safety onboard.
Maximum Exposure – Benefits of listing your yacht in a seller’s market
Another benefit of selling your yacht now is maximum exposure due to the number of listings available on the market. In other words, sales professionals have more time to focus on your listing because of diminished competition. This additional time means extra 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; if you are looking at moving up, down, or upgrading to newer, the last boat needs to go. Galati Yacht Sales 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.
There still remains a strong demand for spending time with family out on the water. That is why many consumers continue to turn to boating. While it remains a sellers’ market, for now, this 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 Galati Yacht Sales today.