Brokerage commission

[extravert]

Never sold a boat through a brokers before but may be doing so soon. What percentage do they generally charge? Are they all about the same? Will they haggle to get the percentage down or are they unmoving? How does one spell commission? Boat value about £25k, if that makes a difference.

 

[maxi]

Usually around 8%, but some go lower, particularly if you are doing a p/ex with them.

As with all things, some are very much better than others, so do your research. A cheap broker who does nothing to promote your boat and achieve a sale, is very much more expensive than a higher rate broker who sells your boat quickly and efficiently. Good luck.

 

[chriscallender]

Its also worth looking at storage rates if you are planning to keep the boat at the brokers yard whilst it is up for sale.

Sometimes there are deals like "x months free storage" although its worth remembering that these also tie you into a broker because you have to pay back some of the "free" storage if you decide to move your boat elsewhere for any reason.

Also check what advertising etc. is included in the deal..

6-8% would be normal commission rates I think. If not going for sole broker agreement then it is more expensive. Not too sure if you can haggle, I didn't.

Like all things there are good brokers and bad brokers and it pays to do your homework and ask them all lots of questions. Look at the location where they are, go at a weekend and see how busy they are. Get someone to pretend to show an interest in one of their boats and see how well they follow this up. Do they just give them a pile of keys and leave them to get on with it, or equally are they too pushy and scaring prospective buyers off?

One prospective broker I delt with didn't return my calls when they said they would etc. So they didn't get my business since I thought it doesn't say much for the effort they would make to follow up a sales lead. In the end I was 100% happy with the services of the broker I selected, he sold my boat faster than I had anticipated and kept me well informed throughout.

Now is definitely the time to get the boat on the market for selling this season, don't hang around for too long or you could miss your opportunity for 2003 - last year the broker told me that by June, for example, it was very quiet. He also told me that there is a second peak in interest around September.

Good luck


Chris

 

[Chris_Stannard]

I recently sold my boat. I put it with the wrong broker in the first place and after nearly a years frustration moved it to Roger Moon of SD Marine at Hamble Point. He sold it in about four weeks and did everything he said he would. Commission 7% plus VAT which is slightly below standard.

Chris Stannard

 

[Oldhand]

Boatmatch.com sold my boat for 2% (their standard) commission. Well worth trying before you go to the the 8% brigade.

 

[polarity]

Also worth a try, there are plenty of places to post your boat on the internet, some free, some not. Of course we don't know how much for this mags/site - because they don't tell you until you have given them the advert.. hmm if you have to ask I guess you can't afford it!

I notice there is not a "yachts for sale forum" - but then this one is provided partly by those advertisers (brokers!) that pay the bills, so making selling/finding your yacht easy would be not in their interests. Cant say I blame them!

Paul

 

[PeterGibbs]

If you have a mainline well-known vessel with no special features (eg home completed, unusual rig, DIY motor installation) you can try a private sale through the mags - from my experience it takes about 3 months. Use the RYA sales contract to protect yourself. This is worth considering because you will otherwise be paying up to 8% plus VAT brokerage which in round terms is 10% out of your pocket.

However, if there are special features (including osmosis) or age of vessel to consider, a broker will go some way to square your circle. I have heard of claims that a broker can recoup the cost of his services - rarely true.

PWG

 

[wooslehunter]

Here's a point from the buyers side. I've recently been looking around to buy. I found a boat that looked good and wanted more info. After several phone calls I gave up. I believe the boat is still for sale.

Try a broker out by acting as a prospective buyer. If you want to do it anonymously, get someone to do it for you.

Good luck.

Dave