How we help clients define the selling price of their boat
Selling a boat can be a challenging task. There are many things that a client needs to consider to achieve a fast sale at a price that keeps them happy. The first challenge is to decide on the selling price. This is very important and here’s how we approach it when a client asks BoatshedGreece.com to help them evaluate their boat.
The boat for sale
We look in detail at the boat of interest. What brand and model it is, and what year it was manufactured. These three characteristics are key as they can define the basic spectrum of the price range. Then we try to get a good understanding of the condition of the boat, its service history and the condition of parts which have a limited lifespan (rigs, sails etc). These are important as they can help us define at which side of the range the boat is best placed when compared to other similar boats.
Past Selling Prices
We search the Boatshed.com archive which has more than 20,000 records of sold boats. This is a great place to see how many boats of this type (or very similar ones) were sold, and for how much. This insight gives us a good steer on what buyers are typically willing to pay. This information can be used as a benchmark.
Current asking prices
We check what is available for sale currently. How many similar boats are for sale, and for what price. This helps us define the asking price range for competitor boats. It also helps us identify with what prices our boat competes against. Very often the market is defined by the cheaper boat (especially if we are talking about similar boats and boats of comparable condition). Naturally, the cheaper boat will attract the greatest interest in terms of web and ad views. This makes boats which are not priced close to the price defining one less visible. In this case, the cheaper boat is most likely to sell first before buyers start paying attention to the next ones.
Another useful piece of the puzzle that we like to provide to our clients is market dynamics. Do boats of similar or identical prices sit on the market for a long time or is there an increased interest? This insight also indicates if the current prices we see are appealing to potential buyers. Or if there are enough buyers for this type of boat. Understanding the market dynamics can help with putting together a successful pricing strategy.
Analyse the information
We combine and analyse all the information above gives us a good perspective for evaluating a boat and gives our customers solid insights to help them decide on their boat’s selling price.
Just a click away
We love the challenge of selling a boat and helping our customers receive maximum value from our services. Our record of selling more than 20,000 boats to date is the best proof of how efficient our approach and methodology are. Contact us to learn more.