Selling Your Yacht

Why use a Broker?

  • Sales exposure – we list your boat on several leading websites, with agreed Sales Specification
  • Sales documents – we issue Sale & Purchase Agreement
  • Survey – we liaise with Surveyor and organise detail
  • Documentation – we deal with formalities of Bills of Sale, vat and CE regulations
  • Finance – we hold deposit and final balance funds
  • Legal – we deal with title documents, boat transfer and timing

GUIDANCE NOTES

These notes are written to help the owner who has decided to entrust Lucas Yachting with the sale of his yacht. We need all the information we can get to present your yacht to the market in the best way possible and we undertake to keep you informed of all interested parties and to give you periodic ‘updates’ on progress. We will also handle negotiations on your behalf, legal aspects and documentation.

1. Inventory Detail

Complete the Inventory Detail form as comprehensively as possible, but bear in mind you will be vulnerable for any discrepancies in your answers. If you are not sure on any point, mark it ‘not known’ or leave it blank. Also keep us informed of any changes in specification. An accommodation plan for standard layout, is most helpful. Note any variations from standard, with regard to pilot berth, chart table or galley.

2. Access

We need to know the precise location of your boat, access arrangements (contact, keys etc) and intended absence from usual berth.

3. Selling price

The selling price will be agreed and noted in the Listing Agreement as the ‘asking price’. This will be subject to commission and any reduction you may in due course choose to accept. All offers will be put to you for consideration. A lowest acceptable ‘net’ price is useful to have, although our aim will be to secure the best price possible.

4. Photographs

We do require the vendor to provide us with as many good photos as possible, including sailing shots and detailed internal and external photos. It is preferable that these are sent to us by email, in high resolution. A selection of these photos will then feature in your boat’s Sales Spec Gallery.

5. Customers

Our advertising is progressively leading to customers approaching us from various parts of UK and Europe. Clearly, they will seek our professional and personal knowledge of the boats being considered and for this reason it is important that we acquire a thorough appreciation of your boat. I try to visit most local boats on our listing, but where a visit proves impractical, then a detailed discussion on the telephone should suffice.

6. Brokerage rates

We set our rates for local boats at a level which is slightly lower than usually applied. Yachts lying in Torbay and Dartmouth at sale price above £20,000 attract a fee of 5% and for lower priced yachts below £20,000, the fee rises to 6% (minimum £600 plus vat). For yachts based elsewhere, the fee rises to 6 % and 7% respectively.

7. Private sale

We accept that some vendors will choose to sell their yacht privately and are prepared to offer advice or indeed practical assistance if this is required, fee based on sale price.

  • 1% advisory – will advise on legal formalities and documentation, issue a Bill of Sale and deal with transfer of funds – minimum £300.
  • 2% comprehensive – advisory and documents in accordance with ABYA requirements – minimum fee £600
    • Sale & Purchase Agreement
    • Formalise post-survey decisions
    • Funds transfer through Client Account
    • Bill of Sale
    • Documentation checks and completion arrangements
    • Secure and reliable

8. Survey

If you already have a recent survey, do let us have a copy of the report. This will enable us to talk knowledgeably to potential customers and to make the most of the good features; it also prepares the ground for handling the difficult questions!

9. Repairs and Maintenance

Any bills you have for work done on refurbishment, engine overhaul, replacements or maintenance work, will supplement general claims regarding condition of your boat. Send us copies of all relevant information.

10. Boat preparation

Be sure your boat is clean and tidy. If necessary, you should consider paying a local hand to do basic work. Remove all gear and equipment not included in the sale (particularly personal belongings). Ideally, you should indulge in a comprehensive cleaning and maintenance program, including engine, rig, sails, electronics, interior equipment, deck gear, seacocks, pumps and so on. We do find that a high standard of cleanliness and maintenance certainly contributes to a positive initial reaction and also impresses the surveyor!

11. The selling process

To clarify the various stages in the selling process, we have drawn up a step-by-step explanation (see ‘The Selling Buying Process’). Through our knowledge and many years of relevant experience and understanding of detail, our prospects for finding you a customer and securing a favourable sale are considerably enhanced.

12. The buying process

This is explained in ‘Steps Involved in Yacht Purchase’, which is written from the buyers point of view. All the main issues are covered and these points will be relevant when you buy your next boat!

 

Please read our advice on sale preparation