Style Not Brands For First Time Buyers

For those who are selling their boats or contemplating in doing so in the under 35’ segment consider the following …. Here is some food for thought as we learn and study the buying habits of newer boaters, who maybe moving up to a bigger boat from something in the 20-26’ range or may be buying their first boat. This detail is part of the decision-making process when we do a pricing analysis of our boats in determining how big of a market we want to attract….let me explain….

 

We as consumers are generally stuck on brands we believe in, I love a GMC product you may like a Ford or Nissan….I believe in the IPhone while others like the Blackberry….when the first time pre-owned boat shopper comes to us and this happens more often than not we ask them what are they are looking for …….and they tell us a boat size NOT A BOAT BRAND…or they say to us an express boat, a bow rider, a center console, a flybridge…… AND NOT for example Sea Ray or Cruisers, Boston Whaler or Pro-Line, Silverton or Carver they are looking at a generic boat style. When they use the Yachtworld search engine in more cases than not they will search the same way. In short the used boat market in a large segment of first time buyers is lumped into the style of boat and not the brand. When we are looking at the market analysis  in deciding where we should price our boats we have to look at the entire market and compete with other brands that may be more generously priced and find the sweet spot that will attract our buyers. We have to remember most of the buyers start out searching a size and price boat and we hope they stop at ours look at the details and with our photography and description we count on them picking up the phone and take the next step to talk to us or write us…..but size and price is the first determining factor and they will pick the low hanging fruit….. it is human nature.

Here is atypical example of a search for a 32’ boat

 

  Length Boats Year

Current US$

Codes

Location

Brokerage

32′ Bayliner 325 CRUISER 2005

59,000

P U T G FG

Sale Pending Sassafras Harbor Marina Yacht Sales

32′ Cruisers Yachts 320 Express 2005

93,000

P U T G FG

Rock Hall, MD Knot 10 Yacht Sales

32′ Four Winns 328 Vista 2005

109,000

P U T G FG

Balitmore, MD Coastline Yacht Sales

32′ Rinker 320 Fiesta Vee 2005

87,500

P U T G FG

Edgewater, MD Hawk’s Yachts
 

       

   

 

When you the seller  look at where your boat’s price should be or thinking of reducing the price on the listing also consider your boat against the other brands not just Sea Ray against Sea Ray, but Sea Ray against Chaparral, against Regal, against Cruisers, against Four Winns and price intelligently, the Knot10 team will guide you.

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