I mentioned in my last post that all of the boats that I have sold in the last 10 months have been to people outside of the United States.Everyday there is a story proving that you are not the only one experiencing this lack of American boat buyers.A story late last week about the boat show in Tacoma, WA focused on the number of foreign attendees on the dock looking for bargains.
It is an understatement to say that you have your work cut out for you if you live in the USA and have a boat for sale.This is indeed a buyers market.The chances are slim that your boat will sell quickly.Even if you have a popular model that is clean and has been extremely well maintained chances are she is still at your dock.
You have another option.Advertise your boat offshore and attempt to attract the attention of the boat shopper overseas who is looking for your model of boat.How do you do that?It is unlikely that you personally have the marketing expertise or connections to target that foreign market.You need to find someone who has tapped into that market, knows where to advertise and understands what steps are necessary to get that buyer to fly in to take a look at your boat. You only have a couple of viable options.
Doing it yourself by taking out an ad on Boat Trader Online or one of the other For Sale By Owner listing services is unlikely to yield any results any time soon. I deal with boats and boat owners everyday and am amazed at the number of people even in America who do not have a clue where to go online when shopping for a boat.Do not expect that guy hunched over his PC in Greece to find your Sea Ray in Erie, PA.
The chances of your boat being viewed online and brought to the attention of overseas buyers rises dramatically when you hand over that responsibility to someone who is already familiar with those markets and has a proven track record in attracting offshore boat buyers to the United States.
Your best option is to search for a yacht broker based in the USA who is familiar with and has listings similar to your model of boat.Check that brokerage out on www.YachtWorld.com or www.YachtCouncil.com.
Check to see if they have any boats listed overseas.Determine who the broker is on that brokerage team who has the most overseas expertise and call them.Tell him that you are frustrated with the lack of inquiries on your boat and that you wish to sell her to someone outside the country.Check out three or four brokers with similar experience until you find one that you trust and have an easy rapport.Verify that they are a Certified Professional Yacht Broker. You can verify that by going to www.cpyb.net. There are around 450 in this country.You may even have to talk to professional brokers who may not be from your hometown.
Boat unit sales in 2007 dropped to the lowest number the National Marine Manufacturers Association has recorded since the mid-1960’s.
Spader Business Management is a company that surveys this kind of stuff. They found that the boat dealers that they polled this year reported an average decline of 61 percent in net profit over their performance last year.
What does this mean? It’s a heck of a time to buy a new boat right now in the USA.
They also report that brokerage sales have dropped dramatically and that even their listings are down in number. It seems that folks that want to get rid of their boat now are aware of this market downturn and are not even attempting to sell.
This is good news for you if you are ready to sell your boat and are flexible in price. There is less competition and that should result in more inquiries on your boat.
Perhaps you have had your boat on the market for awhile, dropped your price and still no takers. Here’s a new idea. Sell her to somebody who doesn’t live here!
Every single yacht that I have sold for my clients over the last 10 months have been to foreign buyers. Why?
Have you ever traveled to another country from the USA when our dollar was strong against other world currencies? Remember when it felt like a bargain getting clothes, hotel rooms, booze, everything for what seemed like half price once you exchanged your money? That is how foreign boat buyers view boats for sale in the United States. They come here looking for a boat to take home because even after paying for transport it is still a lot cheaper than buying the same boat at home.
How do you track down that foreign boat buyer and get him to take a look at your boat? Stay tuned for our next episode of Boat Sales During This Financial Crisis!
And if you can’t wait you can contact me for a little personal advice.
Hi! I’m David Tomen and am a Certified Professional Yacht Broker in the yachting capital of the world – Fort Lauderdale!
This is my new domain called Oasis Yachts which will hopefully be a full blown Website and blog within the next few days. I hope you come back often or better yet subscribe to a feed for updates.
Incidentally, Royal Caribbean introduced “Oasis of the Seas” in Lauderdale the day I was starting this blog on MySpace last week. Oasis is about to be the largest cruise ship in the world. I would like you to think that Royal Caribbean and Oasis Yachts (me!) orchestrated that but alas – I cannot…
My intention with this blog is to help you improve your chances and sell your boat faster while all the other boats for sale languish forever on Yacht World or Boat Trader.If you are outside of the United States and looking for the secrets to getting a great boat deal in the USA during our current lagging economy – you too have come to the right place!
If you are a seller you will learn where the buyers are and how to reach them. You will know what buyers in this kind of market expect when shopping for a boat. You will get step-by-step instructions on preparing your boat for sale, how to do your own simple market research, and how to price your boat.
If you are boat buyer searching for bargain boats for sale come back to this sight often for ideas.Especially if you live outside of the United States and want to learn how to buy a boat in the USA to take home – you have come to the right place.
Welcome to the Oasis my friend!The door is always open for you and I look forward to being your host.