The golden rules to be observed for a successful sale

Most of the time owners are very attached to their boat, since they have invested their time, passion and money in it. They are often convinced that the sale will be just a formality since the boat is beautiful, well kept and well equipped. The reality can be a little different. There is a real, highly competitive market with lots of other boats for sale. There is competition for both pre-owned boats and new boats.

To make a successful sale, you should observe a few simple rules

Rule No.1 : Cleanliness and presentation

This is a basic. The boat must be cleaned regularly, inside and out, from top to bottom. If the boat is dirty at the time of the visit, at best this can only incite brutal price negotiations, at worst, a permanently lost customer.

Rule No.2 : The right sale price

You must show the market price of the boat from the start. The idea of offering the boat at a higher price, then considering a possible reduction in price at the time of discussion is not a good one, since this excludes many potential buyers who will not even make a 1st visit.

Rule No. 3 : Do not deal with several sellers

If you entrust the sale of your boat to several brokers or dealers, you risk weakening the impact of your offer since the sellers will be not be sufficiently motivated. It is always more advantageous to entrust the boat to a single broker who acts as a “central agent” and circulates the information to his network of partners, sharing the commission if the sale is concluded.

Rule No.4 : Do not conceal or minimize the importance of the boat’s defects.

On the contrary! All pre-owned boats have some defects. It is better to talk about them, because buyers appreciate this. For example, if some minor equipment operates in an uncertain fashion (i.e.: lighting, water generator, navigation station), it is preferable to note it in the sale inventory. Otherwise, these small concealed defects could perturb the buyer at the time of making the decision to purchase.

Rule No.5 : Take into account price offers

When a potential buyer makes an offer below the set price, the owner can refuse it if he considers that the price offered is not sufficient. This should be done with care, since it is easy to regret this kind of decision for a long time. It is always difficult for the owner to accept the net offer that he will receive, since most of the time, it is a lot lower than the price he paid: natural undervaluing, seller's commission, costs involved for the repair of certain equipment. You must always remember that it is a lot easier to buy than to sell a boat.

Steps of the sale

1st contact with ANTIPODE YACHTS and visiting the boat.

We visit the majority of the boats we offer for sale. In some instances, this visit is made by one of our local representatives. At the time of this in-depth visit, together we gather the information we need to build a file on your boat: precise identification, history, inventory, photos, panoramic views. We also carry out a visual check on the main structural parts of the boat; in short, we try to find out as much as possible in order to be able to provide potential buyers with clear, precise, objective, loyal and transparent information.

Setting the selling price and ANTIPODE’s commission

The final choice of selling price is up to the owner. The price is decisive for a quick sale. In any event, it is essential to avoid off-market selling prices at the risk of seeing the sale get stuck for several months. Our role is to guide the owner, providing him with useful information to help him determine the selling price: price equivalent for the same boat new, if the boat is recent, sum of recent transactions made and the average prices advertised for equivalent or identical boats.

Our total commission varies between 7 and 10% inclusive of VAT for boats entrusted to us for private sales. When a professional (agent, dealer, builder, etc.) commissions us to sell several boats, our commission can be reduced to 5% inclusive of VAT.

Drawing up the sale inventory and approval by the owner.

When an agreement on the selling price and the sum of our commission has been arrived at with the owner, we will draw up a sale inventory which we will submit to him. This is a very important document since it binds the owner in relation to the precise content he must provide the buyer with when the boat is sold.

Signing of the sale mandate and inventory. Handover of keys.

This is the last step in putting the boat up for sale. The sale mandate must be “exclusive” (ANTIPODE YACHTS being the only company commissioned for the sale of the boat) or “non exclusive” (the owner can sell the boat directly to customers that he finds by his own means and can also commission another professional). The mandate is signed at the same time as the sale inventory and the owner hands over the keys.

Putting the boat up for sale

As soon as the sale mandate is signed, we can proceed with putting the boat up for sale: posting of boat data on our website, publishing of ads in the press and on the web, display at boat shows, emailing using our customer database (4,500 qualified contacts), circulation of the advertisement to a network of brokers working in partnership with ANTIPODE YACHTS, telephone follow-up of our customer base.

Organizing visits with buyers and follow-up

We are always present on board during visits. Occasionally, we may need to send one of our local representatives if we are unable to make the trip. During the whole period in which the boat is for sale, the owner can freely use her and take her sailing, as long as he keeps us informed of the dates at which she is not available so that we can coordinate our visiting schedules with our customers.

Reports are drawn up after all visits and sent to the owner by e-mail, so that he remains informed of the progress we have made.

The presence of the owner on board during the visit can be beneficial, since buyers appreciate it when they can meet the owner.

Purchase offer and provisional sales agreement

Following the 1st or 2nd visit, the buyer can agree to buy the boat on the terms set out in the sales mandate, and in this event, we will immediately sign the provisional sales agreement and ask for a down payment of 10% of the selling price. If the buyer wishes to offer a price below the price defined in the mandate, we will ask him to make a written offer, which we will submit to the owner, which he can accept or refuse.

If the offer is accepted, we will sign a provisional sales agreement with a 10% deposit. The deposit is made into a bank account held by ANTIPODE YACHTS at the CREDIT MUTUEL DE BRETAGNE in Vannes. For deposits higher than €80,000, an escrow account can be used.

Boat survey if desired by buyer

We actively encourage buyers to have a surveyor’s report done before or after the provisional sales agreement, even if a surveyor's report has been provided by the owner. Two opinons are better than one! The cost of this survey will be born by the buyer. The handling costs, if there are any, are also payable by the buyer, but are deducted from the selling price if the sale is concluded. If the survey requested by the buyer reveals a real and major defect making the boat unseaworthy (structural defect, damaged rigging, etc.), the provisional sales agreement will be nul and void and the buyer’s deposit will be refunded. You should be aware that if the survey reveals minor defects (i.e.: anemometer does not work, water entering through a stanchion, loosening of the rudder ring), these defects cannot bring the sale into question.

Sale contract and payment of the balance

After signing the provisional sales agreement, and within a period of 30 to 50 calendar days, the sale is finalized through the signing of the bill of sale. This period allows for the carrying out of suspensive clauses (survey, obtaining a bank loan, work to be carried out by the owner, etc), the raising of a maritime mortgage or of funds by the buyer. As soon as the bill of sale is signed and the balance paid (by bank transfer or certified cheque), the ownership of the boat is transferred to the buyer.

Change of ownership

On behalf of the new owner, ANTIPODE YACHTS takes care of all the administrative formalities related to a change of ownership. We hand over the complete file to Maritime affairs and Customs in order to change the certificate of registration.

For customers from abroad, we request the annulment of the French flag and we provide the new owner with all the specific documents required by his administrative body: “Bill of sale”, builder’s certificate, proof of VAT payment, apostilles, signature and stamp of the solicitor, signature and visa of the Court of Appeal, etc.

Documents you will need to provide us with :

• Signed sale mandate and inventory.
• Copy of the boat’s certificate of registration.
• Copy of owner’s passport or identity card.
• Insurance certificate and policy number
• Surveyor's report, less than 6 months old, if available.
• If the boat is under leasing agreement, the name of the bank, the balance of the financing plan and the final repurchase value.