For most yacht owners, the allure of a bigger, newer boat never seems to go away. It is not uncommon for HMY customers to buy a yacht and trade it in or list it for a larger vessel just 2-3 months after making their purchase. Any of your popular local waterways are filled with a variety of different types and sizes of yachts that keeps boaters mesmerized by the latest options, colors, configurations, and latest models. However, knowing when to move into your next purchase can be tricky when considering the resale value of your vessel as well as the demand in the market, and of course, your boating plans.
If you are considering moving into a larger or different yacht, HMY has a bit of advice for you to consider: Now is the time to list it.
Here are 3 tangible reasons why right now is the best time to list your yacht with us and take advantage of the current buying climate.
1.) Demand. While the analysts at Yachtworld.com have reported lower brokerage sales over the last several months, this has not been the case with HMY Yachts. Yachtworld's SoldBoats.com website reported a 3% drop in sales in June 2016 versus June 2015 which may be the case for the industry nationwide, but fortunately for our customers HMY completed a spectacular 2nd quarter in which we sold 125 yachts for over $130 million. That success was not limited either to any particular brand or type of yacht as HMY saw strong activity in both Sportfish and Motor Yacht sales from brands like Viking, Princess, Azimut, Hatteras, Lazzara, and several custom sportfish boats. Tim Derrico, National Sales Director for HMY, commented on the activity, "We are seeing boats sell fast. If you have a quality listing - late model, good condition, decent hours, etc. - than we can get it sold quickly. In fact we have seen several yachts sell in under 60 days!"
2.) Supply. Part of the explanation for lower-than-average sales nationwide is quite possibly that there isn't as many good yacht listings on the market today. After selling 125 boats in the 2nd quarter, HMY brokerage inventory is down almost 25%. With demand high and supply low, the market is allowing for good, quality listings to sell quickly and for a higher price than what they might draw in 4-5 months from now.
3.) Get Ready For Boat Show Season. The minute HMY takes on a new yacht listing, our thorough marketing process begins. Advising the customer on any repairs the boat might have, the yacht management details, a professional photo and video shoot, creating the listing for HMY.com and other listing websites, and advertising it publicly all takes time. In less than 3 months, we will begin moving inventory into the 2016 Fort Lauderdale Boat Show. Getting your yacht listed with HMY now can ensure a spot in the boat show where thousands of buyers will be able to see it. But be prepared, with our track record you might be shopping at the Ft. Lauderdale Boat Show instead of waiting for someone to buy your yacht.
For more information on listing your yacht with HMY, visit us here.