The Deals Still Command The Buyers

We sat down the other day and gauged our start to 2012. Dollars are almost double last years same time of the year for closings and our average sale is higher. Naturally curious we thought about why that may be. The answer that we keep coming back with is that our customers listening skills about price and place in the market.

We simply have had some exceptional boats but the biggest factor is positioning those boats to get traffic via all of our sources of advertising. We hear the usual protest about not wanting to give the boat away all the time but clean boats need buyers to see them and realize the opportunity. Buyers simply shy away from anything that looks over priced or in many cases even average priced.

In looking at our contracted boats a trend became very clear. An exceptional boat that is priced with almost no wiggle room gets more traffic and in most cases an offer at full price or within 1-2% of it. A boat that is average priced or priced towards the higher part of the comps fights for any traffic and offers tend to be 10-15% from asking. The key difference is the amount of boats we sell under the 1-2% from listed price  scenario and the faster time frame that sales takes place. The 10-20% boats are sold much less often and typically have been on the market for 6-12 months before finding a buyer who makes that offer.

Take a look at your RED SALES PENDING OR SOLD BOATS and then compare those to any similar boat in the market and the theory on price to length of time on the market becomes easier to see.

http://www.yachtworld.com/core/listing/cache/pl_search_results.jsp?ywo=knot10&ps=50&type=&new=&luom=126&hosturl=knot10&page=broker&slim=broker&lineonly

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