Brokerage Advice

Play Dough

Member
Joined
Dec 19, 2007
RO Number
29135
Messages
146
It wasn't my plan, but economic conditions (auto industry) require that my 30' Sundancer go on the market. Any recommendations for a good brokerage firm that you have had experience with? The boat is located on Lake Michigan.
 
Yes, Eric and Eric. Cannot remember their last names or the name of the firm. I dealt with them years ago and they ran a reputable and successful show. I just heard the other day that that was still true. Two boaters on my dock had recent dealings w/ them and confirmed the foregoing. They are around Holland. I'm sure someone here can fill in the info. They may refer you to someone else at 30 feet. Good luck!
 
Without a doubt, The Mariner Network in New Buffalo.
 
Now I remember. Starboard Yachts in Saugatuck. Eric Robinson and Eric Neinhuis 877-274-6790
www.starboardyachts.com
 
To sell boat in this climate

Take tons of pictures, create a dedicated website for it.

Clean the boat

Fix Everything that is broken

Price the boat FAR lower then the book value.

No one's boat is worth what they think it is.

It todays market you need to create interest. Interest is created by price, features and the ability to price even lower.

If you go with a broker, find one that is non exclusive and has a proven track record. Personally, I'd try to sell on my own. You care more about selling your boat then any broker could.

It is a very tough market, budget a few thousand dollars for online ads.

It took me nearly 2 years and 6 price reductions to sell a near perfect boat. I sold the boat for 40% of book value. I had 2 non exclusive brokers, one of them claim to show the boat once and the other never showed it.
I sold the boat on my own, once the buyer visited the boat, the boat sold itself.
 
I'm afraid that I don't agree with much of that Richiela. A dedicated website isn't a skill that all sellers possess. Either is determining the current value of their boat. I agree with cleaning, but not necessarily fixing everything. Boat repairs are expensive, and if you've been willing to live with some non-functional items, then a buyer may as well. Fix high-profile items, safety items, and make sure maintenance is current, but weigh other issues carefully.

For example, my remote spotlight doesn't work well. It will cost about $500 to fix, but because I never use it, I haven't bothered. I've spoken to several people in the market, and each of them have shrugged - they won't use it either. If it becomes a bone of contention during the offer/closing period, deal with it then, but an open check-book policy at the END of your ownership experience isn't necessarily the way to go.

"Book value" applies better to cars, and even then, it's merely a yardstick. Pricing a boat without help is exactly like pricing one's own home. It can be done, but rarely SHOULD be. Brokers see the asking and sales prices of similar vessels and can target a price much better than any book can.

Spending thousands of dollars on online ads could easily approach or even exceed the commission of a broker.

By seeking non-exclusive brokers, you increase the chance of dealing with non-motivated brokers. You get what you pay for. A broker who doesn't return the calls of potential buyers or bother to show your boat is a perfect example.

Search for brokerages with good reputations, and if your information is still sketchy, test them before you sign! Inquire about a listing - test their responsiveness, knowledge of the vessel, professionalism and if you like what you hear, then discuss a contract. I'm leery of a broker who's too willing to go non-exclusive.
 
My opinions are based on this market and my recent sale. Boat values are widely available online.

Anyone who is interested in buying a boat today already knows they are 100% in control.

Why bother looking at any boat that is not pristine in this market.

I have spoken to surveyors and brokers, the only boats selling are already priced way below book value.

Broker are losing there shirts, why get tied up with a dud.

Todays market is terrible, do not under estimate this important fact.

I firmly beleive you need spend money and get your boat exposed on Boattrader, Usedboats.com, iboats, boats.com and yachtworld.

Now that my boat sold, I'm in the market for a smaller boat. The only boats I'm looking at are in great shape, priced right and willing to deal. I have an offer pending on a boat. I offered less then 1/2 of the asking price. THe owner really wants to sell.
 
Thanks for the thought starters. I really need and am willing to pay for someone to effectively market my boat. I'm planning on concentrating on education and re-employment. It's not a high dollar boat ('89 300DA), everything functions as it is supposed to, and certainly in above average condition.
 
I second the vote for the Mariner Network. I've talked at length with some of the folks there and without a doubt can confirm that they have some of the better marketing efforts in your neck of the woods.

You absolutely get what you pay for. On top of that, an honest, professional, and responsive boat broker is about almost impossible to find so when you find one, WORK with them. A professional is worth their professional pay and will save you time and money in the long run.
 
Let me offer just an opinion as a BUYER. I have spent the better part of two years researching for my boat purchase and shopping. I have had three different offers in with brokers over this time period and to be honest, only one deal fell through because of the sellers unwillingness to negotiate. The other two were killed with me by the brokers behavior in obviously trying to keep the price artificially inflated in a buyer's market. Rich is right. I am in complete control of the sale right now. I am at long last actually going to purchase a boat this weekend. It is from a fellow who is a mechanic and dealer and it is a fully equipped 1986 30' weekender with complete servicing on both engines and drives, the 4.0 Onan genny, and all brand new upholstery on the interior. Like EVERY SINGLE USED BOAT I HAVE LOOKED AT, it needs some good clean up and some minor items fixed or replaced. But I could actually get in and use it with my family RIGHT NOW.
Honestly unless you are selling a true motoryacht right now (in the $100k plus range) I wouldn't waste your time going to a broker at all. Your boat will sit from now until whenever the economy picks back up, you will get 50% or less of true (NOT BOOK) value offers that mostly won't even get to you because the broker wants their commission, and you will end up in a situation where you have to make the repairs anyway to sell the boat because the survey comes back with all the little crap that the buyer wants fixed before buying.
I would second the advice to advertise privately on Craig's or one of the legit boat sales sites and hope that you can catch a buyer at the right time with cash that wants a deal.
Oh, BTW, I'm paying only $6500 for my boat (that mostly is listed at rb2@gr5t$14k - 20k), and the brokers in this area are asking $25k+ for the exact same boat - that still needs some things done.
 
Excellent information. Much of it I have covered and a few items I need to address. My financial/employment situation is changing daily so I'm not sure what the ultimate plan will turn out to be. With some luck maybe I'll be boating for years to come. I'm almost ashamed to say my future is riding on the big 3 CEO's. They haven't exactly been convincing in front of congress. There is a very good case to be made for the auto companies but they certainly didn't do it.
 
Play Dough, sorry to hear about your circumstances. I sincerely hope it all works out for you and your family. We just experienced a similar change and it's hard not knowing where your next paycheck will come from. We were very fortunate and saw it coming years in advance so we have a ton of money set aside and I've changed careers. I won't make any money this first year, but down the road it should start paying off. I hope the big 3 survive, but I agree with you that they didn't present their case very well. I wish I could swap boats since I like your rear canvas better! We'll keep our fingers crossed and I wish you the best!
 
I'm also sorry to hear that this economy is forcing you to make tough changes. The pics you sent me of your boat certainly show that she is in above average condition, beautiful would be a better description. If you can connect with an interested buyer with cash in hand, I think the boat will sell itself. Best of luck to you.
 
jtsm...

Be the first on your block to own his and hers 300DA's. Actually, things look a little more promising today than they did a week ago. There's nothing I can do and I do have a plan B but it doesn't make up the wage and benefits of 25 years with the current employer. We'll see what kind of lemonade I can make out of this lemon.
 
Back
Top