Why pricing matters in today’s marketplace
Dec 20, 2018
Having your sail or powerboat priced accurately is the best way to ensure that your boat will sell in a reasonable time frame yet also achieve the highest price possible. When you price boats too high the listing produces less interest and showings which results in fewer offers. Pricing the boat too low can leave money on the table. A broker’s goal is to get the maximum value for your boat in a timely manner.
Tools that brokers use to determine price include a thorough comparative market analysis. We use comparable active listings on Yachtworld, sold boats on Soldboats.com, active listings on the market through other channels and expired listings.
Buyers in today’s marketplace are educated and watch the market and inventory movement closely. They know better than anyone what is available at each price point. If your price is within your boat’s market range, then buyers will look at your offering; if the boat is priced too high then they will probably skip it. A new listing on the market provides excitement and you don’t want to risk the listing becoming stale because the boat is not priced at fair market value.
In conclusion, the selling equation is quite simple for selling boats: having the boat properly priced plus having good exposure equals a SOLD boat.
Chris Power
Yacht Broker – Sunnybrook Yachts
