Selling a Yacht

The process of Selling a yacht:-

  1. Signed listing agreement
    We will talk through the title, registration, and tax issues relating to your yacht and deal with any difficulties we foresee.
  2. Yacht particulars
    We will prepare of thorough, accurate and attractive yacht particulars and will work with you to achieve this. Once signed off by you, the sales process starts:
  3. Marketing
    1. Details of your yacht will be circulated to those applicants on our database whose requirements she matches.
    2. The details (in the case of central listings) will be circulated to our network of co-operating brokerage houses. Any changes to her status will be advised to them, so it is important that you let us know if anything changes.
    3. She will be entered onto a raft of websites. These sites are updated daily, so her details are always correct.
    4. She will be advertised in the mediums best suited to her market segment.
  4. The Sale & Purchase Agreement is drawn and signed by yourself and the purchaser. When we receive the deposit as stakeholders we exchange the agreement.
    1. The yacht is then under offer to the purchaser.
    2. The deposit may be returned to the purchaser if the yacht is not satisfactory to him after survey/sea trial.
    3. All costs relating to the survey are for the purchaser, the yacht is sea-trialed at your cost and under your insurance and control.
    4. After survey the purchaser may ask to negotiate if defects are revealed. It is up to you whether you wish to do so, but if a meeting of minds is not found, the sale will be void and the deposit returned.
    5. Once the purchaser accepts the yacht following survey and sea trial we ask him to sign an Acceptance Notice. Once he has done this, his deposit becomes part payment for the yacht. If he fails to complete the deposit is retained and split 50/50 between you and the Company.
    6. After acceptance, we will ask you to sign a Bill of Sale and produce all the original documentation details listed in the Sale and Purchase Agreement; and we will handle the transfer of clear title, running title checks, as well as settling any outstanding yard accounts or mortgages direct.

We prefer that you enter into a Central Listing arrangement with us.  Central Listings receive priority treatment as we control all aspects of the marketing, and have more incentive to incur expenses marketing your yacht. We will also work on an Open Listing arrangement but by the nature of the contract we cannot exercise the same level of control or commitment over the marketing. Our aim is to find a purchaser for your yacht promptly at market value.

  • July 21, 2018, 9:07 am
  • Go to Richard Watson Co.
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