It was fun while it lasted... Broker Reccomendation?

Go with Jim.
Sorry to hear that Tim, but hey it's metal, plastic and glass. It can be replaced. Good for you for looking out for your people.

Good luck.
 
depends on if you want to use your boat while it's for sale. Some places want the boat on premises, some don't. Just something to think about.

Sorry to hear about the circumstances.
 
Tim,

Sorry to hear it. I've been running my own businesses for 25 years now. I know where you are coming from. Been there.

Unfortunately, this type of corporate responsibility is not what makes headlines. The only thing we ever hear about is the few greedy SOBs that make the rest of corporate America look bad.

Cudos buddy! Maybe we can both upgrade to that 43DA when things get back in swing/. :thumbsup: In the meantime, its all :smt024.
 
Tim,
Scott represents boats all over Florida, if that helps. He was travelling to Miami to sell a Hatteras when I hooked up with him.
Good Luck,
 
My $0.02...

List it yourself. Offer "Free Shipping" up to a max (i.e. $2000) and keep the price low.

Brokers - I looked at TONS of boats all over Florida before I bought mine, and out of all the brokers I met, none really added any value - but I did happen to meet a lot of guys I'd like to have a beer with. I think every broker in Florida had my number. The only value they added was listing it. I'd ask a question, and they never gave me a response (or it was wrong). Despite my requests, they never took additional photos for me. I can go on and on.

Broker Fees - A lot of people are listing their own boat without having to pay a broker fee, so they can list it at a lower price. This means that you will have to list yours to compete PLUS you lose the broker fee. You can save the broker fee and use it to pay for extras such as shipping costs, multiple listings, a custom website, videos, lower price, etc.

"Free" Shipping - Most people don't look outside their market because they don't think they can ship or transport a boat this big. Also, most folks don't have experience with shipping, and they won't bother when there are so many boats for sale in their area. But with "free" shipping that you offer to arrange, you really increase your market potential. Gas prices are cheap right now, and drivers should be plentiful.

Move the boat - I don't think you will like this option, but South Florida has a million boats, and it's a 400+ mile haul just to get it to the mainland. Further, most people outside of Florida think these boats are over exposed to sun & salt. I've heard you can knock 10% to 15% off the value of a boat if it's in Florida. If you move the boat to a better location (preferably with a better market), you might have better luck (Sorry, you won't be able to use it).

Store It Inside - If you can store it inside, it will help keep the boat in pristine condition. It's hard to wash & dry the boat before each showing. I looked at a lot of boats that were crusted in Salt spray, or wet from the previous rain/dew. If a buyer looks at 3 boats, and yours is the only that looks like it was just washed & waxed, this will be a big advantage. Also, I couldn't control the weather, so when I looked at boats and it was too hot, or raining, then I didn't spend too much time on it. If you have a dry storage, they can pull it outside if the weather is nice.

Custom Website - If you're tech savvy, it's not hard or expensive to create a website specifically for your boat. This allows you to market your boat exactly as you like, and it can look very professional. You can have super high res photos, videos, etc. etc. which is great if you're selling it outside your market. This is not an uncommon practice on very expensive boats. You might be able to provide links to your website from other sites like Boat Trader.

EBay - Ok, I know you won't like this. But EBay is a good indicator of true market value. If you're a seller, you won't think it is. On the other hand, you will be able to sell it quickly - but perhaps 10% less than you thought. If you have monthly costs associated with your boat (i.e. a payment, boat insurance, slip fees, etc), then you have to consider this. For example, you can sell it now on EBay for 10% less than on YachtWorld but Yachtworld will take 10 months or so. However, does 10 months of payments, slips, insurance, etc. equal the 10% of the difference on the boat and the 1 year depreciation value?? (My 280 seems to depreciate about $8000 a year). If you do this, you need to list it with no reserve and start it at $1000. While this sounds CRAZY, this will create a buzz and you will generate a bigger audience then you could ever get with broker listings. You should be able to end the auction early if you get a real buyer or if the price seems too low. Keep in mind that the price goes up 5% to 50% in the last hour.

Price - The biggest factor in selling everything is the bottom line price. You can have the best boat and the best broker with the best listings with the best wax job, and it won't mean a thing if the price is too high for the market. Most homeowners think their home is worth 15% to 25% more than what it actually is, and I think the same is true of boats.

Timing - I've heard that the boat market has a one year lag behind the economy. So at best, the boat market probably won't pick up for another year or so. Also, what is the best time of the year to sell a boat? I don't know that answer, but that info might help.
 
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Try listing it yourself on boattrader or even Craigslist. I know it sounds crazy, but I sold my last boat on craigslist to a guy in Virginia, and I live in south Georgia. I agree, save the listing fee and make sure you are priced right. Buyers are out there on the internet right now.
I do hope your business picks up soon. We all hope it will turn around for everyone!
 
Wow, that ebay strategy is very aggressive - I like it!

I'm going to explore that because you raise a good point in that you might take a 10% hit but is it worth taking 10 months on yachtworld and paying a broker fee.

I'll just have to explore the ramifications of pulling the listing just before the auction ends should the bids only get up to about $100K ;-)

-T

NautyDog said:
My $0.02...

List it yourself. Offer "Free Shipping" up to a max (i.e. $2000) and keep the price low.

Brokers - I looked at TONS of boats all over Florida before I bought mine, and out of all the brokers I met, none really added any value - but I did happen to meet a lot of guys I'd like to have a beer with. I think every broker in Florida had my number. The only value they added was listing it. I'd ask a question, and they never gave me a response (or it was wrong). Despite my requests, they never took additional photos for me. I can go on and on.

Broker Fees - A lot of people are listing their own boat without having to pay a broker fee, so they can list it at a lower price. This means that you will have to list yours to compete PLUS you lose the broker fee. You can save the broker fee and use it to pay for extras such as shipping costs, multiple listings, a custom website, videos, lower price, etc.

"Free" Shipping - Most people don't look outside their market because they don't think they can ship or transport a boat this big. Also, most folks don't have experience with shipping, and they won't bother when there are so many boats for sale in their area. But with "free" shipping that you offer to arrange, you really increase your market potential. Gas prices are cheap right now, and drivers should be plentiful.

Move the boat - I don't think you will like this option, but South Florida has a million boats, and it's a 400+ mile haul just to get it to the mainland. Further, most people outside of Florida think these boats are over exposed to sun & salt. I've heard you can knock 10% to 15% off the value of a boat if it's in Florida. If you move the boat to a better location (preferably with a better market), you might have better luck (Sorry, you won't be able to use it).

Store It Inside - If you can store it inside, it will help keep the boat in pristine condition. It's hard to wash & dry the boat before each showing. I looked at a lot of boats that were crusted in Salt spray, or wet from the previous rain/dew. If a buyer looks at 3 boats, and yours is the only that looks like it was just washed & waxed, this will be a big advantage. Also, I couldn't control the weather, so when I looked at boats and it was too hot, or raining, then I didn't spend too much time on it. If you have a dry storage, they can pull it outside if the weather is nice.

Custom Website - If you're tech savvy, it's not hard or expensive to create a website specifically for your boat. This allows you to market your boat exactly as you like, and it can look very professional. You can have super high res photos, videos, etc. etc. which is great if you're selling it outside your market. This is not an uncommon practice on very expensive boats. You might be able to provide links to your website from other sites like Boat Trader.

EBay - Ok, I know you won't like this. But EBay is a good indicator of true market value. If you're a seller, you won't think it is. On the other hand, you will be able to sell it quickly - but perhaps 10% less than you thought. If you have monthly costs associated with your boat (i.e. a payment, boat insurance, slip fees, etc), then you have to consider this. For example, you can sell it now on EBay for 10% less than on YachtWorld but Yachtworld will take 10 months or so. However, does 10 months of payments, slips, insurance, etc. equal the 10% of the difference on the boat and the 1 year depreciation value?? (My 280 seems to depreciate about $8000 a year). If you do this, you need to list it with no reserve and start it at $1000. While this sounds CRAZY, this will create a buzz and you will generate a bigger audience then you could ever get with broker listings. You should be able to end the auction early if you get a real buyer or if the price seems too low. Keep in mind that the price goes up 5% to 50% in the last hour.

Price - The biggest factor in selling everything is the bottom line price. You can have the best boat and the best broker with the best listings with the best wax job, and it won't mean a thing if the price is too high for the market. Most homeowners think their home is worth 15% to 25% more than what it actually is, and I think the same is true of boats.

Timing - I've heard that the boat market has a one year lag behind the economy. So at best, the boat market probably won't pick up for another year or so. Also, what is the best time of the year to sell a boat? I don't know that answer, but that info might help.
Click to expand...
 
timinfla2 said:
Wow, that ebay strategy is very aggressive - I like it!

I'm going to explore that because you raise a good point in that you might take a 10% hit but is it worth taking 10 months on yachtworld and paying a broker fee.

I'll just have to explore the ramifications of pulling the listing just before the auction ends should the bids only get up to about $100K ;-)

-T
Click to expand...



Please post a link to the auction.

If it only gets to $100K I will be placing a bid in the final seconds at $100,001.

That would leave me with enough funds in reserve to add a custom canvas camper top.


:)
 
Perhaps keep the boat and your employees, but cut your partner loose!
Click to expand...

I like this idea best...while Matt is a great guy I am pretty sure he does not even float, and I know you are not keen on the idea of spending a weekend on him.

Bad news indeed. Hopefully something will come up and allow you guys to keep the boat. You can always come up to MI and get a free ride, even though it is on a Formula.

We had a great weekend and Metro, we missed you guys though. Everyone was there...even the DYC crew. Take care, give me a call.

Your MI bud, Steve.
 
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