Pre-Offer Checklist

 Before making an offer, there are a few things you should check:

Search for your boat with various search engines or yacht broker  – www.yachtbroker.co  www.yachtworld.com. , www.boatshop24.co.uk.   www.coastal-leisure.com .

Check that the boat is worth the price you are willing to pay. Have a look at reports for boats that have sold and compare asking prices with actual sale prices – Yacht Brokers have access to these resources.

When making comparisons between boats, bear in mind that its value can be increased by factors such as vat included or not, condition, equipment  or even just being in a good location. Similarly, the value can decrease, for example, because of the previous factors.

Check whether the yacht has a mortgage or liens – if you are using a yacht broker a yacht broker will do this.

Agree what will be included. Draw up a list of all items , the inventory, with the seller as this will avoid later confusion

Remember that yachts do not have fixed price tags – you can make substantial savings with a little skilled haggling over the price. It is important to get the opening offer right, as this will play a big part in determining the amount you eventually pay. Normally, the opening is offer is about 10% lower than the asking price, and the two parties take this as a starting point for further offers and reductions in asking price until an agreement is reached. Be aware that the asking price can be set high in order to encourage a higher opening offer than would be given with a lower asking price, and you are expected to negotiate.

The negotiation will be affected by various factors, and you will do better if you take these into account:

How many other people are interested in the same yacht. If you are the only one, you are in a strong negotiating position and the seller is likely to accept a lower price. If there are two or more parties making offers, the seller and their broker  will be far tougher during negotiations and you may be sensible to offer the asking price.

How quickly the seller needs to sell. If they need to sell quickly, they will be more likely to accept a lower sum than the asking price.

How long the boat has been on the market. If the seller is having difficulty selling the boat , they are more likely to accept a lower price. Check whether the asking price has dropped since it went on the market.

What season it is. Demand for boats are higher in spring and summer so prices will be slightly higher at these times of year.

Your own position will also affect the negotiation. A couple of factors could be to your advantage:

Have you sold your vessel? If not, the seller can be more certain that everything will be completed on time. First time yacht  buyers, people who have already sold their own yacht and people who have nothing to sell all have this advantage.

Can you show the seller that you can access enough money to buy the yacht

Remember, if you don’t think the yacht is worth as much as is being asked, you can introduce this into negotiations. For example, if some repair work is needed and you think this should bring the price down, you can try to persuade the seller that the yacht is overpriced.

Here are a few ways you can become a better negotiator:

Make sure you know what you are talking about and show you know it. Let everybody know that you have viewed plenty of boats for sale, and that you understand the yacht market and how much the yacht should be worth. Asking well-informed questions is one way of showing you are not a customer who can be easily conned.

Keep cool and don’t look overly keen. If the seller sees how much you are in love with a boat, they know you will be willing to pay more. Play a bit hard to get, and make sure they know you have seen a lot of boat s. Don’t rush into making an offer; take the time to think about it.

Stay polite, however stressed or angry you feel. Aggression will not get you anywhere. Remember that if a seller has two equal offers, they will probably go for the buyers with whom they are on good terms.

It is best to negotiate in person, not over the phone. This way you can better gauge the other person’s reactions to what you say and respond accordingly.

Yacht Brokers are professional negotiators – be prepared for bargaining

While it is good to play it cool, don’t be overly cautious or evasive, especially if you know the seller has received other offers or needs to sell very quickly. Assess your own and the seller’s positions and act accordingly – if your position is not that strong, worrying over a relatively small sum of money could lose you your dream boat.

Once your offer has been accepted, it must be made formally, in writing, and subject to certain terms and conditions. Ensure that the broker  and seller understand the terms of your offer.

Your offer can be “As is Where Is”  “Subject to Survey” “Subject to Sea Trial” or “Subject to repair” or “Subject to anything you think is reasonable”. This means that you are not legally bound to proceed until the terms have been satisfactorily completed.

Specify what you want to be included, and what work on the yacht you want to be undertaken before the sale has gone through.

You will normally be expected to put a deposit down 10% is the normal figure.

Selling

If you are selling a boat , you have probably also bought it and therefore you have already gained some insight into the world of yacht dealings. Selling a boat  is a bit different from buying one, however. This guide is both an introduction for sellers who have not handled purchasers before, and a memory-aid for experienced yacht sellers.

Preparation

Decide on how you want to sell your boat, whether privately or through a yacht broker.

To sell a boat can take 3 weeks to 3 years – it will depend on the condition, price and accessibility.

• Selling privately will mean preparing adverts for the sailing press and uploading to various sites on the internet. It will take a day or so to prepare and spend some money up front and an ongoing commitment until she is sold. The owner can manage the transfer or employ a yacht broker for just this task.

• Using a yacht broker is easier but more expensive, a good yacht broker will know where to advertise and have access to the best search engines – which are not always available to the individual. You will normally not be responsible for any costs until the boat is sold. A yacht broker will also  manage the title transfer.

Estimate the costs involved in the sale

Make your boat  more attractive to the buyer by cleaning and doing necessary repairs. It will be cheaper to repair yourself than allow the purchaser to discount the price.

Negotiation

Set yourself a target sales price – but don’t lose a reasonable price for a few percentage points. ( remember that keeping a yacht has its own costs.)

Field the offers and push for higher prices

Don’t be afraid to sleep on an offer overnight

Ensure that any offer and acceptance is in writing.

Title Transfer

Use a Yacht Broker or do it yourself – making sure that you know what is required.

On completion ot the title transfer you may wish to register your vessel.

Registration is a process the in the UK is desirable for all boats as it helps to validate the provenance of your vessel.

The yacht broker can register your vessel as an additional service. with the MCA either Small Ships Register or Part One registration which offers the most protection for Leisure Vessel in the UK. Loans and liens are registered against on Part One registration.

Any eligible craft owner can apply to register under Part I of the UK Ship Register.

The advantages of Part One registration is that you can:

• prove title to your boat,
• prove your boat’s nationality use the boat
• as security to obtain a marine mortgage
• obtain ‘Transcripts of Registry’, which show the boat’s previous owners and whether there are any outstanding mortgages.

Good luck with your yacht sale!  YachtBrokerUK

Boatshop24: Hi Nic, can you tell our readers a bit about Coastal Leisure and how the company was started?

Answer:

The company was formed as a Yacht Charter company 14 years ago (1996) and ran with this as its sole focus for years. As you know the Charter business is very seasonal and Coastal Leisure quickly branched off into Motor Yacht sales as well. We still are a hub for other charterers but this is now not the largest part of the business.

Boatshop24: What’s your position in the company?

Answer:

Director – I joined the company in 2002 after a long career in Telecoms Construction and Project Management. I am an Engineer with a Masters Degree in Business and so after the 2001 Internet boom finished I looked for something else to do: I have a long interest in leisure boating yachting and sailing.

It seemed a natural business to migrate to. As I quickly found out (as many others have) that Yacht Broking is a pleasant business to be in but it is very competitive.

It is very pleasant because most of our customers are genuinely good people that are in leisure mode when we are talking to them. However they obviously are successful people that do not leave their business skills at home when they are purchasing a high capital value item like a boat.

Boatshop24: You do an amazing range of boats on brokerage what’s the biggest and smallest one you have for sale just now?

Answer:

From £13,500 for a very tidy ETAP21i to £14,000,000 for a beautiful 41 m Motor Yacht..

Which one would you like to buy one?

We have taken the decision to cover as large a range of motor and sailing yachts as is economically possible.

Boatshop24: You are based in a beautiful part of the UK right in the heart of the Solent, what’s it like for cruising?

Answer:

50% of the countries leisure boats are within 30 miles of here, and they are here for good reason. We are only one and a half hours from London and 2 hours from the midlands and from our Marina base here at Town Quay you can have a sail for two hours or 2 weeks.

There are so many destinations to sail or motor to nearby and further away, this makes the Solent unique in this country. i.e. that there are so many destinations that are ready and pleased to receive leisure boats.

Boatshop24: How would you recommend a novice takes the plunge into boating?

Answer:

Leaving  aside purchasing the £2m Azimut and getting a skipper to do everything for you. I would suggest that the novice take an RYA Sailing or Motor boat course on-the-water. The other method is to be shown the ropes from a knowledgeable friend who already has a boat.

This will quickly tell them whether this is for them. The pleasure from sailing comes from having and knowing your own boat – she becomes an extension of your own personality

Boatshop24: Would you be able to help with moorings if a client bought a boat from Coastal Leisure?

Answer:

Yes. Our location and prices are second to none. we are the marina nearest to the centre of Southampton and have 24 hour access to Southampton Water.

Boatshop24: Can you help with financing also?

Answer:

We have banking contacts and are licensed and pleased to arrange finance for our clients.

Boatshop24: Do you have a website, if so what is it and is it an important part of the business?

Answer:

WWW.COASTAL-LEISURE.COM is a great way to promote our customers’ boats. The website is a way of validating the company and communicating the extensive list of boats we have for sale.

The website has extensive details about buying and selling a boat, together with a database of all of our listed boats that is really quick and easy to search. Try it an see?

In conjunction with our social networking sites such as Twitter, Facebook, Linkedin, Word Press, where we are known as YachtBrokerUK. This helps to widen the network of potential clients that know of us.

The website is our shop window !

Boatshop24: Run us through activities that occupy you within a typical day?

Answer:

Activities in a  typical day will consist of:-

• selling boats to prospective purchasers.
• securing the best available price for our client by negotiating with the purchaser.
• managing the sales process to ensure that title ownership is transferred legally and without liens.
• visiting newly listed boats and detailing the inventory
• updating the internet, by editing and uploading newly listed boat details and pictures to our website www.coastal-leisure.com and uploading these to search engines such as your own www.boatshop24.co.uk .
• matching the different needs for our http://www.pxboats.com/ clients.
• searching though our vast client database of prospective purchasers to quickly match with the boats Coastal Leisure has for sale.
• we like to organise the moorings and ensure that the boats have been secured properly.
• arranging the shop window and notice boards to maximise impact.
• arranging layouts for advertising

Every day in yacht sales is different.  Our main objective is to ensure that we are proactive in achieving the boat sales that our clients demand.

Boatshop24: It’s been a tough year for the marine industry in general, how has it been for Coastal Leisure?

Answer:

It has been a tough year for most of my customers too. It does the marine industry no favours to see the big names struggling with boat sales. We have interests and contacts in many other countries and they have been affected as well. Although we have managed to export some nice boats to Scandinavia and I am looking forward to the day that we can import them back to the UK, when the sales pick up.

As a result of our decision to be a generalist we have taken a pragmatic line and we have weathered the recession relatively well – although we could always do with more enquiries.

Boatshop24: Tell us about the most exciting deal you have done?

Answer:

The present deal is always the most interesting and exciting!

Although exchanging an apartment in Spain for a Hunter 36 must rank up there. This was done through our sister website WWW.PXBOATS.COM where we exchange boats for boats and boats for houses.

Boatshop24: What sets Coastal Leisure apart from its competitors?

Answer:

We are the broker that can sell any boat and we are located right next to the Southampton Boat Show where they are rumoured to be planning to site a permanent boat show. This would be good for the industry, good for Southampton and great for us!

Boatshop24: Do you have any new boat agencies and if so what are they?

Answer:

We are representing Luhrs when we have specific customer enquiries, although we are not stocking boats. Having seen what happened to those that were heavily stocking we decided that discretion was the better part of valour.

There is no doubt that if you are stocking boats it must change the yacht broker’s perspective on selling other peoples boats?

Boatshop24: What do you see in the future for Coastal Leisure?

Answer:

We have determined a strategy to rationalise our business – and we are in the process of rolling this out over the next twelve months. It involves segmenting different parts of our website business – it should help to make us stand out to the boat purchaser with the result of further sales.

Boatshop24: And finally how do you wind down and relax?

Answer:

At the moment I am on 10 days Holiday- I have sailed every day, at home I regularly jog very slowly and go for long cycle rides.

I have just spoken with our broker he has sold  a Moody sailing boat and is confident of some other  yacht sales and corporate charters!

In fact having finished this I am off to view some boats!

 Grain Battery Tower was completed in 1855 and is very similar to a Martello Tower.

The owner would like to sell this at £500,000 or exchange for a 55′ to 65′ Motor Yacht.

1. First there has to be a desire to complete the deal. Asstes are inspected by both parties.
2. Agreed and signed values of each asset, together with a detailed inventory. Sign the proposed deal
3. Each party is responsible for their own costs.
4. The signed agreement and the transfeer of any monies is the final consideration that complete the title exchange.

How it Works For Property

Are you selling a House, Flat, Villa, Apartment, Land? If you are thinking of selling, part exchanging is the ideal way to achieve this.  For example, let’s say you are trying to sell a house which is being marketed at £250,000. Many people lower are looking to move. This means that you could part exchange with a vessel or property that is marketed for, say, £150,000. This means that you have released £100,000 less commission finance and you have an asset which is easier to sell. Contact us today and ask them to upload your house, or apartmentl to the site.

Send us your details. By sending us your details of your property and what you are looking for in your exchange, we are able to match your vessel to others registered on this and other sites. Not only does this mean that we can find you a buyer, but also your next new property or boat at the same time!

If you would like your property to be advertised on the site, please send us the information.  This is done on a “No sale, no fee basis”.

The part exchange phenomenon is a rapidly growing market, world wide.

The certainty of a PX offer enables you to act like a cash buyer avoid the hassle, costs, delays and  uncertainty of selling your boat.

The survey with any property or boat sale -the buyer is responsible for the legal transfer. Our description is given in good faith but the purchaser will be given every opportunity to survey and inspect and we always advise that this is done.

Commission Charged? We charge 2% + vat on both items of exchange. We will manage the title documents of any UK registered boats otherwise it is at cost. Property should go through the normal survey and title transfer by a qualified conveyancer costs are to the receiving party as normal.

Contact us and we will  upload your property to the site.
]]> http://yachtbrokeruk.wordpress.com/2010/06/24/how-it-works-part-exchange-property/feed/ 0 yachtbrokeruk http://yachtbrokeruk.wordpress.com/2010/06/09/part-exchange-boats/ http://yachtbrokeruk.wordpress.com/2010/06/09/part-exchange-boats/#comments Wed, 09 Jun 2010 11:05:58 +0000 yachtbrokeruk http://yachtbrokeruk.wordpress.com/?p=10 Continue reading →]]> How it Works For Boats

Are you selling a Power or Sail boat? If you have a Power or Sail boat which you are thinking of selling, part exchanging is the ideal way to achieve this.  For example, let’s say you are trying to sell a vessel which is being marketed at £150,000. Many people lower  are looking to upsize. This means that you could part exchange with a vessel that is marketed for, say, £50,000. This means that you have released £100,000 less commission finance from the vessel and you are left with a vessel that is less expensive to keep and  easier to sell. Contact us today and ask them to upload your vessel to the site.

 Send us your details. By sending us  your details and what you are looking for in your next boat, we are able to match your vessel to others registered on this and other sites. Not only does this mean that we can find you a buyer, but also your next new boat at the same time!

If you would like your vessel to be advertised on the sitesend us the specification details.  This is done on a “No sale, no fee basis”.

The part exchange/ boat swap phenomenon is a rapidly growing market, world wide. If you are staying in boating then part exchange can be easier and cleaner, you could find some huge opportunities to get your vessel sold and find your new boat, all in one go!

Are you looking to downsize? If you are looking to downsize, pxboat.com is the ideal place to advertise your vessel. Many sellers on pxboat.com are also looking to upsize. If one of these clients is looking for your vessel and the vessel that they are selling suits your requirements, straight away you have a part exchange, it’s that easy!
Are you looking to upsize? With the “Credit Crunch”, more sellers than ever are looking to downsize. This means that there is no better time to be part exchanging your boat. With more choice than ever, someone might be looking for your boat and vice versa. Contact and ask us to upload your vessel to the site.

The certainty of a PX offer enables you to act like a cash buyer avoid the hassle, costs, delays and  uncertainty of selling your boat.

Survey As with any property or boat sale the buyer is responsible for the legal transfer. Our description is given in good faith but the purchaser will be given every opportunity to survey and inspect and we advise that this is done.

Commission Charged? We charge 2% + vat on both items of exchange. We will manage the title documents of any UK registered boats. Property should go through the normal survey and title transfer by a qualified conveyancer costs are to the receiving party as normal.

 Contact us and we will  upload your vessel to the site.

Should you prefer the traditional route we can sell your boat with through Yachtbrokeruk at Coastal Leisure Limited

The averge time to sell a boat is about 3 months and I normally think that it will take 10 to 20 viewers for an older boat to sell. Here is an extract that give the vendor some tips how to sell the boat, this method guarantees that if the price is right then your boat will be amongst the very first to sell. Tips – How Sell Your Boat – Quickly There are two primary markets in boats: Those in Perfect Condition that can command their own premium and Those that need “TLC” and they enter the discount market. How to achieve a quick boat sale .

Prepare the boat for the new owner. Empty it Out Fix it Up Clean it up The Seven Keys to Boat Selling Success Key No 1 Make your boat the shiniest, cleanest, neatest, most perfectly operating like-new boat that the buyer will find, and he will be afraid to let it get away. Key No 2 Make your boat so clean neat shiny, pretty, functional and desirable that the buyer will be excited to own it and will be proud to show it to his friends and neighbours when he takes it home. Key No 3 When you go to the trouble and expense to sell the very best like-new boat on the market, you disqualify most or all of the competition. Key No 4 When you are sell the very best like-new boat the buyer will find , you can demand and get a substantially higher than average price for you boat.

Key No 5 If you sell your boat as-is, you will enter your boat in a discounting contest in a buyers market. Key No 6 If you sell a boat with problems, you disqualify many, perhaps most of the potential buyers in the market. Key No 7 To sell your boat in the “fixer-upper” (requires some TLC) market, you will have to discount it much more than it would have cost you to fix its problems yourself.

It is important to decide which market your boat is in. In the brokers opinion a boat that has been consistently and regularly maintained (and that this maintenance is documented ) the boat will be superior and worth more money than a similar boat that has been recently” fixed up”? Sell Your Boat In Thirty Days by Thomas Cook (recommended reading) Keep checking back for more information relating to Yacht Brokers in the UK.