Dos and Don’ts to Increase The Resale Value of Your Old Yacht

Glamour@2022

Owning a luxury yacht is a dream for many, but the reality is it requires extensive upkeep and maintenance. When you decide to sell your prized vessel, you want to get the maximum value possible after years of enjoyment and making memories aboard. However, the process of preparing a yacht for sale is not something most owners have experience with. There are crucial dos and don’ts you must know when putting your yacht on the resale market to increase its perceived value and attract the highest price tag. Negligence of certain details can cost you thousands at closing, while proactive preparations like cosmetic upgrades, mechanical inspections and deep cleanings boost your return on investment. If you want to see a windfall financial gain when you finally hand over the keys, pay close attention to the following guidelines on refreshing your yacht for resale. Apply these tips and you’ll have buyers battling it out in a bidding war for your beautiful boat.

What to do when reselling a boat?

• Do give your yacht a fresh coat of paint before listing it for sale. Chipped, faded or oxidized paint will make your yacht seem older and bring down its value. Spending money on new paint pays off at resale. 
• Do fix up any mechanical or electrical issues. Problems like persistent warning lights, intermittent failure of gear like stabilizers, and glitchy electronics can deter buyers. Have systems inspected and repairs done where needed.
• Do replace teak decking that’s overly worn or splintered. Fresh-looking teak adds aesthetic appeal and makes the yacht more desirable. Refinishing costs can be recouped later.   
• To replace torn or damaged upholstery and linen items before listing. Things like ripped seat cushions faded and pilling throw rugs, or stained linens give an outdated impression and suggest neglect.
• Do a deep, comprehensive cleaning of the entire yacht. Make sure all surfaces including metalwork, glass, flooring, bilges and storage areas are fresh and spotless. Sparkling cleanliness signals care and pride of ownership.
• Do remove all personal items and decorations. The goal is for buyers to imagine living aboard themselves, not feel like they’re intruding into their private space.
• Do ensure all systems, appliances, electronics and amenities are properly functioning. Have failures fixed and verify items turn on/off, charge, start-up, retract/extend, heat/cool, etc as designed. 
• Do provide extensive maintenance records detailing work done. Meticulous documentation verifies care and condition, increasing buyer confidence.

What you shouldn’t do before selling a yacht

• Don’t attempt DIY repairs unless you have marine expertise. Improperly done work by an amateur will raise questions and can reduce offers. Hire pros instead.
• Don’t overlook seemingly minor cosmetic issues. Things like cabinet dings, cracked mirrors, missing knobs, warped doors or broken latches give an impending sense of disrepair. Address blemishes.   
• Don’t leave personal clutter lying about. Clear out items like clothing, toiletries, medications, accessories, hobby gear, pet belongings and kids’ toys. Stow everything pre-showing.
• Don’t disregard stale odours. Smoke, pet, food and other lingering scents are turn-offs. Have ductwork cleaned and use odour eliminators throughout living areas. Refresh stale air.
• Don’t skip regular maintenance in the months before you list. Keep things clean, address problems immediately, and stay diligent about upkeep right up to closing.   
• Don’t try hiding flaws or issues. Undisclosed defects found later erode trust and can kill deals or prompt lawsuits. Be transparent about conditions.

Conclusion

As you can see, selling a previously owned luxury yacht requires more than just posting an ad and waiting for calls. Preparing your vessel properly before listing takes effort but pays dividends in the end. By committing time and money to repairs, cleaning, staging and upgrading cosmetics, you can boost your yacht’s curb appeal substantially to prospective buyers. This perceived increase in value leads to more lucrative offers and intense bidding wars to become the next proud owner. Alternatively, neglecting certain maintenance issues, disregarding odours or cleanliness, hiding mechanical defects, and even failing to clear out personal belongings can deter buyers and sink deals, costing you major dollars at closing time. Keep this comprehensive list of dos and don’ts handy as a reference while you ready your yacht to go back on the market. Follow the guidelines to showcase your vessel in its best possible light before listing it for sale. Your attention to every detail helps recapture years of financial investment to secure top dollar on resale. Then you can happily sail into the sunset with pockets full of cash from the sale of your beautiful yacht.