Brokerage commission

[Alan1]

Hi
I am looking to sell my boat and am trying to get an idea of commission rates , Boatshed seem to be at 8% plus vat. The boat is in the Solent area and will go for around 30k.
Thanks for any help.

 

[colind3782]

8% seems to be standard.

 

[Graham376]

Sold our last boat via ad in YM, within a week of it appearing. Previous one went through broker but I shouldn't have bothered, too lazy to show people around so I had to do a 160 mile round trip each time.

 

[peteK]

When I sold a boat I did a deal and got the rate reduced to 6% from 8%.

 

[Daydream believer]

Previous one went through broker but I shouldn't have bothered, too lazy to show people around so I had to do a 160 mile round trip each time.

Now you mention it, I went to look at a boat last year & the bloke in the office just gave me a key & warned me to be careful on the ladder.

 

[Irish Rover]

In my experience the most important thing when selling a boat is pricing it correctly. If the price is right for the model, age and condition it will sell and there are plenty of good mediums for private sales. Taking off the 8% you'd have to pay the broker will make the boat much more saleable and you'll know genuine inquiries will be dealt with properly and expeditiously when you're doing it yourself.

 

[davidej]

Depending om the value of the boat, I think many brokers will do a deal at 6 percent plus VAT

 

[Resolution]

Looking at it from the broker's point of view, 8% of £30,000 is £2,400, not enough gross income to buy a vast amount of time and effort. Certainly not if the boat is going to be hard to sell. So , as Irish Rover said, get the pricing right. Secondly, get the presentation right - clean the boat and throw out all the loose cr*p that is bound to have accumulated (the broker won't want to have to store much in any of his sheds). Thirdly, have your paperwork all to hand , correct and neatly presented before you approach the broker. I can't tell you how much time can be spent chasing up that missing bill of sale etc.
Then a relatively easy 5 or 6% is much better to the broker than a dodgy 8%.
All IMHO.

 

[Sadlerfin]

I sold my boat a couple of years ago with Why Boats based at Swanwick they had various plans, with me they did all the advertising and informed me of any interest and I did the rest for a few hundred £
I was pleased with the result.
Derek

 

[Irish Rover]

Looking at it from the broker's point of view, 8% of £30,000 is £2,400, not enough gross income to buy a vast amount of time and effort. Certainly not if the boat is going to be hard to sell. So , as Irish Rover said, get the pricing right. Secondly, get the presentation right - clean the boat and throw out all the loose cr*p that is bound to have accumulated (the broker won't want to have to store much in any of his sheds). Thirdly, have your paperwork all to hand , correct and neatly presented before you approach the broker. I can't tell you how much time can be spent chasing up that missing bill of sale etc.
Then a relatively easy 5 or 6% is much better to the broker than a dodgy 8%.
All IMHO.

£2,400 @ £500 per day is 5 FULL days and I doubt any broker is going to work exclusively on the sale of a 30k boat for a cumulative 5 days. I know they have expenses but they also get to sell many much more expensive boats with correspondingly bigger takes. In fact owners of more expensive boats are far more likely to go to a broker than owners of less valuable boats.

 

[davethedog]

We sold our previous boat (Moody 376) ourselves after advertising her on Apollo Duck. Took lots of pictures and was priced accordingly and sold in a month.

 

[Resolution]

£2,400 @ £500 per day is 5 FULL days and I doubt any broker is going to work exclusively on the sale of a 30k boat for a cumulative 5 days. I know they have expenses but they also get to sell many much more expensive boats with correspondingly bigger takes. In fact owners of more expensive boats are far more likely to go to a broker than owners of less valuable boats.

Obviously most brokers will hope to sell more expensive boats with bigger £££ returns. A £30,000 boat must be getting low on the scale of being worth the effort, hence my suggestions to make a speedy sale more certain. Sadly too many owners start with an optimistic high asking price and too few get their boat really ready for sale. And very few yacht brokers end up rich!

 

[Irish Rover]

Obviously most brokers will hope to sell more expensive boats with bigger £££ returns. A £30,000 boat must be getting low on the scale of being worth the effort, hence my suggestions to make a speedy sale more certain. Sadly too many owners start with an optimistic high asking price and too few get their boat really ready for sale. And very few yacht brokers end up rich!

You're clearly in a different league to me if you think £2.5k is "low on the scale of being worth the effort". Are you a broker?

 

[Graham376]

You're clearly in a different league to me if you think £2.5k is "low on the scale of being worth the effort". Are you a broker?

I was amused by his comment. Those based in some (south coast?) marinas could perhaps be forgiven for not realising there are plenty of <£10k boats for sale in brokers windows in more rural locations.

 

[[70521]]

You're clearly in a different league to me if you think £2.5k is "low on the scale of being worth the effort". Are you a broker?

I've just started dealing with accountants and the legal profession, £200-300 an hour after a bit of shopping about.

 

[Irish Rover]

I've just started dealing with accountants and the legal profession, £200-300 an hour after a bit of shopping about.

Yes, but in their defence, they're qualified professionals who have appropriate professional qualifications and, at that level of fees presumably reasonable experience and expertise, as opposed to the maritime version of used car salesmen.

 

[doug748]

Hi
I am looking to sell my boat and am trying to get an idea of commission rates , Boatshed seem to be at 8% plus vat. The boat is in the Solent area and will go for around 30k.
Thanks for any help.

Yachtsnet will probably list it for 4%. It would be my first stop, though I guess you would be doing your own viewings:

Yachtsnet Ltd. online UK yacht brokerage and boat sales services

 

[PhillM]

I was amused by his comment. Those based in some (south coast?) marinas could perhaps be forgiven for not realising there are plenty of <£10k boats for sale in brokers windows in more rural locations.

Is that for the tender

 

[Graham376]

Is that for the tender

No, there's often a soggy Avon Redstart thrown in for free

 

[Seven Spades]

If you ask you will usually be quoted 8% if you haggle you should get 5%. But expect extras, like cleaning and fixing stuff.