Boats For Sale by Owner - New York, New Jersey, Connecticut

Frequently Asked Questions

1. What is the difference between a boat and a yacht?

According to the Merriam-Webster Dictionary, a yacht is a large usually motor-driven craft used for pleasure cruising and a boat is a small vessel for travel on water. This topic is very subjective because according to some the size of a vessel matters and according to others it does not. Below are several descriptions for your interpretation:

The size issue begins with those who feel that any vessel above 30' is a yacht, while others believe that any vessel over 40' is a yacht and still others believe that any vessel over 65' is a yacht. Anyone who owns a vessel in the 30' to 65' range should realize that if they want to call their vessel a yacht, there are others making the same claim including manufacturers. The consensus seems to be that any vessel between 65' and 150' is a yacht. Vessels larger than 150' would be considered a ship, while others may refer to them as a mega or super yacht.

A yacht is any private vessel used for pleasure but designed for crossing large bodies of water. A boat is any form of vessel designed to operate on a small body of water. In conclusion to this great debate, the major differences between a yacht and a boat exist largely in the eye of the beholder.

2. Why work with a broker?

Buyers
Enlisting a partner to research all of the New York Boats For Sale, New Jersey Boats For Sale, Connecticut Boats For Sale, New York Yachts For Sale, New Jersey Yachts For Sale and Connecticut Yachts For Sale saves customers the aggravation of previewing New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds.

Sellers
Listing a boat with a good broker that markets it effectively will save a seller time, energy and money. Having your boat appraised and learning about the recent sales history of similar boats will be useful in establishing the market. Pricing a boat within the market is essential to executing a successful sales effort.

Qualifying serious buyers is an art form, which is best left to professionals actively engaged in full time yacht brokerage. Working with a broker eliminates calls from yacht brokers soliciting business and unqualified buyers looking for a bargain. Both represent the majority of calls received by individuals attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy. On average, sellers receive one call from a serious buyer for every ten calls from brokers and unqualified buyers.

A good broker will handle all services such as professionally photographed digital images, advertising, marketing, inspections, negotiations, survey, haul-out, sea trial and closing. Appointments will be set for prospective buyers to preview boats seven (7) days a week. All offers presented to the seller will include a Yacht Purchase Agreement and a 10% deposit. Most importantly, a high caliber broker will handle all issues that arise with the buyer during the negotiations, closing and after the sale is completed.

3. Why is pricing important to selling a boat?

One of the essential ingredients to selling a boat is pricing. Having your boat appraised and learning about the recent sales history of similar boats will be useful in establishing the market. Pricing a boat within the market is essential to executing a successful sales effort. Over pricing a boat will undermine even the most aggressive marketing campaign. This is a critical step over looked by many sellers attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy.

4. Why is advertising important to selling a boat?

Many sellers hope for results with little or no investment in advertising. This will include posting a boat on websites offering free Internet advertising, placing a For Sale sign on a boat, advertising in the local and national marine trade publications and spending $50-200 to advertise on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites. There is more involved to selling a boat or yacht than placing ads in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds.

One of the essential ingredients to selling a boat is exposure. According to the latest traffic statistics from Nielson/NetRatings, a leading Internet audience measurement service, Yachtworld, BoatTraderOnline, Boats and iBoats are the most visited marine classified sites on the Web. Buyers flock to these Websites in droves actively seeking to purchase that perfect boat or yacht. Combined these Websites receive 3.6 million visitors monthly and conduct over 13.5 million boat searches every month. This represents over 75% of the boat searches on the Internet.

Yachtworld, BoatTraderOnline, Boats and iBoats are the leading Internet destination websites for locating New York Boats For Sale, New Jersey Boats For Sale, Connecticut Boats For Sale, New York Yachts For Sale, New Jersey Yachts For Sale and Connecticut Yachts For Sale. These websites boast the largest searchable photo databases of used and pre-owned yachts or boats for sale on the World Wide Web. If you want to reach serious buyers looking for high quality used and pre-owned boats, our affiliations with these websites will enhance your exposure to millions of qualified boat buyers. Also, a subscription to BoatWizard offers customer's access to the premier worldwide multiple listing service for available boats and yachts from leading New York Yacht Brokers, New Jersey Yacht Brokers or Connecticut Yacht Brokers.

5. Why are pictures important to selling a boat?

This is probably the most overlooked ingredient in a successful marketing campaign. Buyers are willing to travel hundreds or thousands of miles for the right boat, so providing a visually compelling image gallery is important. New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds do not provide buyers with enough information to generate inquiries. In addition, the saying that "A picture is worth a thousand words" definitely applies to selling your boat. We photograph boats with professional equipment, so that we can create dynamic image galleries. Each marketing campaign is launched with 25-35 pictures to build the largest galleries on the Internet.

Buyers are more likely to inquire about a boat that has a comprehensive image gallery because they can visualize it. This becomes even more important with larger and more expensive boats and yachts. The image galleries on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites are marginal at best because they only allow a seller to post 1-5 pictures of low quality and size. Posting low quality pictures will generate a fraction of the inquiries that high quality pictures do. It should be noted that boats marketed on the Internet without pictures generate very few inquiries.

6. Why is it important to have your boat displayed at boat shows?

Our industry leading Boat Show strategy will enable your boat to get exposure to buyers looking to make a purchase. Many attendees like to dream about buying a brand new boat, and then reality sets in when they discuss the price. These individuals are ideal buyers because they want to buy a boat, but they don't want to pay new boat prices.

In addition, the saying that "A picture is worth a thousand words" definitely applies to selling your boat. We photograph boats with professional equipment, so that we can create poster size pictures of your boat at the shows. A visually stunning image gallery will prominently feature our customer's pre-owned boats with the largest pictures at the show. Also, every boat in our inventory will be made available to attendees in our promotional packets. Visit us at one of the upcoming shows to find out how we can enhance your exposure.

7. Why is detailing important to selling a boat?

There is a strong financial incentive to prepare a boat for sale. Detailing a boat is the single most important investment of time, energy and money a seller can make because a clean and shiny boat sells faster and for more money. Click on the hyperlink titled Preparing a Boat For Sale for additional information about this important topic.

8. Why should a seller get a survey?

Sellers should consider getting a survey before launching a marketing campaign. Knowing the strengths and weaknesses of a boat will save time, energy and money later. A good surveyor can determine if a boat needs repairs and give the seller a list of items that need to be fixed for the boat to be in top condition. Buyers are looking for a boat that has been well maintained; so uncovering any potential mechanical problems early gives you the opportunity to have them repaired.

9. How long will it take to sell a boat?

The average boat sells within 3-6 months after launching an aggressive marketing campaign. Certain boats are in high demand and may sell faster if priced within the market. Sellers need to be patient with the sales process because it is a numbers game. Finding a buyer who wants your boat more than any other available on the market takes time.

10. What is the impact of the Internet on yacht brokerage?

Millions of boat buyers who surf the web looking for boats have expanded the market for pre-owned boats. Geographic boundaries are shrinking, since buyers are willing to travel hundreds or thousands of miles for a specific boat that meets their purchasing requirements. The Internet is substantially reducing the marketing costs associated with selling a boat. The most significant change is that owners have choices that were not available five years ago.

Many boat owners realize that the Internet offers access to millions of potential buyers, so they are attempting a Yacht or Boat For Sale By Owner strategy. The goal of these owners is to sell their boat without paying a commission to a yacht broker. There is more involved to selling a boat or yacht than placing ads in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds.

11. Why do yacht brokers charge a 10-15% commission?

The standard commission received by yacht brokers ranges between 10-15%. Until recently, yacht brokers were able to dictate a high commission structure to owners with few other options. Many yacht brokers continue to cite the high costs of embarking on a successful marketing campaign in the leading marine trade publications as a reason for charging excessive commissions. This is especially true for expensive boats and yachts. Sellers beware because the Internet is substantially reducing the marketing costs associated with selling any boat or yacht.

12. What differentiates GOLDEN KEY YACHT SALES from other yacht brokers?

GOLDEN KEY YACHT SALES is the leading yacht broker for used and pre-owned yacht or boat owners tired of paying high commissions. Many boat owners avoid working with brokers because of the 10-15% commission charged on a boats sale price. A paradigm shift is taking place in the yacht brokerage industry, and few yacht brokers are embracing this change. The Internet is substantially reducing the marketing costs associated with selling a boat. We have chosen to take a leadership position by sharing these savings with customers and working for substantially less than the standard 10-15% commission. Customers agree that this innovative approach to working with sellers makes sense.

In addition, the saying that "A picture is worth a thousand words" definitely applies to selling your boat. We photograph boats with professional equipment, so that we can create dynamic image galleries. Each marketing campaign is launched with 25-35 pictures to build the largest galleries on the Internet. Buyers are more likely to inquire about a boat that has a comprehensive image gallery because they can visualize it. This becomes even more important with larger and more expensive boats and yachts. This is probably the most overlooked ingredient in a successful marketing campaign. Buyers are willing to travel hundreds or thousands of miles for the right boat, so providing a visually compelling image gallery is important.

13. How do I sell a boat with NO COMMISSION deducted from the net sale price?

Most sellers are uncomfortable with a yacht broker deducting a 10-15% commission from the sale price upon closing. In order to facilitate owners attempting a Yacht or Boat For Sale By Owner strategy, NO COMMISSION is charged on the net sale price. Sellers determine an acceptable net sale price and engage professionals to enhance current marketing efforts. In the event of sale, GOLDEN KEY YACHT SALES compensation shall only be comprised of sale proceeds in excess of the agreed upon net sale price. If a customer sells a boat without assistance, no commission is owed.

Example
A seller wants to sell a 65' Hatteras Motor Yacht 1996 and needs to net $1,000,000 on this yacht. The seller signs an Open Listing Agreement to launch a marketing campaign with agreed upon sale proceeds of no less than $1,000,000 to the seller. The yacht is listed on Yachtworld, BoatTraderOnline, Boats, iBoats and other leading marine websites with an asking price of $1,150,000. The yacht is sold for a price of $1,050,000. We would deliver the agreed upon sale proceeds of $1,000,000 to the seller.

As per the Open Listing Agreement, GOLDEN KEY YACHT SALES compensation shall only be comprised of sale proceeds in excess of the agreed upon net sale price. The difference between the actual sale price of $1,050,000 and the agreed upon net sale price of $1,000,000 is $50,000. This $50,000 represents sale proceeds in excess of the agreed upon net sale price for about a 5% commission. This innovative sales strategy provides customers with major savings versus traditional yacht brokers. In the same scenario, a broker charging a 10% commission would deliver sale proceeds of $945,000 to the seller.

It should be noted that there might be additional costs associated with any transaction, which will further reduce this commission. These costs will be the sole responsibility of the broker, unless agreed to in writing by a seller. The example above is strictly hypothetical and is for illustrative purposes only. Each transaction is unique and no example can accurately reflect all of the possible scenarios that may be encountered.

14. Tired of dealing with brokers and unqualified buyers?

Advertising in New York Boat Classifieds, New Jersey Boat Classifieds, Connecticut Boat Classifieds, New York Yacht Classifieds, New Jersey Yacht Classifieds and Connecticut Yacht Classifieds generates too many calls from yacht brokers soliciting business and unqualified buyers looking for a bargain. Working with a broker eliminates this problem. Both represent the majority of calls received by individuals attempting a New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner strategy. On average, sellers receive one call from a serious buyer for every ten calls from brokers and unqualified buyers.

15. Are classified ads in marine trade publications and the Internet providing adequate exposure to qualified buyers?

Most individuals find that advertising in the local and national marine trade publications under the used and pre-owned yacht or boat classifieds generates too many calls from yacht brokers looking for listings. The same is true of the leading Yacht or Boat For Sale By Owner websites that offer owners the opportunity to advertise used and pre-owned powerboats, motorboats, runabout boats, high performance boats, sportfishing boats, express cruisers, sedan cruisers, motor yachts, ships, trawlers and pilothouses on the Internet. The majority of the websites that offer classifieds listings for New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner generate minimal traffic from serious buyers. Yacht Brokers use the Yacht or Boat For Sale By Owner websites as a lead source for listings, so be prepared for calls soliciting business.

16. Why pay $50-200 to advertise your boat on the Internet?

Sellers are spending $50-200 to advertise on New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner websites that generate minimal traffic from serious buyers. The image galleries on For Sale By Owner websites are marginal at best because they only allow a seller to post 1-5 pictures of low quality and size. Posting low quality pictures will generate a fraction of the inquiries that high quality pictures do. It should be noted that boats marketed on the Internet without pictures generate very few inquiries.

17. Why is it a mistake to work with a broker that agrees to list a boat priced above the market?

Sellers should be wary of a broker who will take a listing that is priced above the market. Some brokers will agree to market a boat just to get the listing. A good broker will not accept a listing from a seller with unrealistic expectations. Listing a boat above the market is the biggest mistake a seller can make, and doing it under the direction of a broker is foolish. This will lead to lost time and aggravation for the seller. Eventually, the seller will become frustrated when the broker advises the seller to lower the price to generate more inquiries.

18. Which used and pre-owned high quality pre-owned runaboat boats, high performance boats, sport-fishing boats, express cruisers, sedan cruisers, motor yachts and trawlers are needed?

Albemarle, Albin, Alden, Aquasport, Azimut, Baja, Bayliner, Bertram, Blackfin, Boston Whaler, Cabo, Carolina Classic, Carver, Century, Chaparral, Chris Craft, Contender, Cranchi, Crownline, Cruisers, Donzi, Doral, Edgewater, Egg Harbor, Fairline, Ferretti, Formula, Four Winns, Glacier Bay, Grady White, Grand Banks, Hatteras, Henriques, Hinckley, Horizon, Hydra Sports, Intrepid, Jefferson, Jupiter, Larson, Lazzarra, Luhrs, Mako, Magnum, Mainship, Maxum, McKinna, Meridian, Monte Fino, Monterey, Navigator, Neptunus, Nordhavn, Ocean, Ocean Master, Ocean Alexander, Osprey, Pershing, Post, Pro Line, Pursuit, Rampage, Ranger, Regal, Regulator, Rinker, Riviera, Robalo, Sabreline, Sea Ray, SeaCraft, Sealine, Shamrock, Silverton, Stamas, Stratos, Sunseeker, Tiara, Topaz, Triton, Trojan, Trophy, True World Marine, Viking and Wellcraft.

GOLDEN KEY YACHT SALES is looking for New York Boats For Sale By Owner, New Jersey Boats For Sale By Owner, Connecticut Boats For Sale By Owner, New York Yachts For Sale By Owner, New Jersey Yachts For Sale By Owner and Connecticut Yachts For Sale By Owner. The entire team looks forward to assisting sellers in need of professional assistance from a New York Yacht Broker, New Jersey Yacht Broker or Connecticut Yacht Broker.

Copyright 2003 - GOLDEN KEY YACHT SALES
Boats For Sale New York, New Jersey, Connecticut