WHY USE A YACHT BROKER?

As a yacht broker, I'm often asked why it's important to use a broker when buying or selling a yacht. Here are just a few reasons why working with a yacht broker can be incredibly beneficial:​
​

1. Expertise and Knowledge: When you are considering working with a yacht broker, more times than not you are looking to benefit from their expertise and knowledge. So when looking for a good candidate, they will have experience with the buying and selling process, as well as an in-depth understanding of the industry. They can help you navigate the complex world of yacht ownership, answer any questions you may have or atleast know where to get the answer, and provide valuable insights and advice. They can also help you understand the different types of yachts available, why the values differ, from brand to brand, sizes or years, and which one may be best suited to your needs. 
2. Access to Listings: Similar to a realtor, a professional Yacht broker will have a membership of a multiple listing service and have access to a wide range of yacht listings and sold data that is not always publicly available. This additional access includes time on the market, price changes, and final 'sold' prices. Knowledgeable brokers will research the market to determine the fair market value of a yacht, so you can make an informed decision when purchasing or selling.
3. Negotiation Skills: According to a survey conducted by CreditDonkey, only 12% of Americans have ever negotiated the price of a car. While this survey is specifically about car purchases, it does suggest that negotiating may not be a common practice for many Americans. If you are not comfortable negotiating on your own, working with a professional such as a yacht broker can be a great way to ensure that your interests are represented and that you get the most value for your money. Emotions can occasionally get in the way of closing a deal, Yacht brokers can provide a level of emotional detachment that can be beneficial in the negotiation process. They can approach negotiations with a clear head and an objective perspective, which can help them make strategic decisions and avoid getting caught up in the heat of the moment.
4. Industry Connections: Yacht brokers often have established relationships with other industry professionals, including surveyors, insurance providers, and financing companies. They can help connect you with the right people to make the purchasing process smoother and more efficient. Additionally, if you need maintenance or repairs on your yacht, brokers can recommend trusted service providers to keep your vessel in top condition. Furthermore, these industry connections pay dividends when your broker is able to gather local, or unpublished knowledge to help resolve concerns or issues, both pre and post purchase
5. Peace of Mind: Perhaps most importantly, working with a yacht broker can give you peace of mind. You'll have an experienced professional on your side throughout the entire process, ensuring that everything goes smoothly and that you're making informed decisions. A top tier brokerage firm will have a dedicated team of individuals that navigate the legal and financial aspects of the transaction, such as contracts, escrow, and financing. This allows you the comfort of knowing  all necessary paperwork is completed for successful transfer of ownership, clearing liens, as well as filing any forms or taxes to correct agencies. In addition, knowing your deposit is safe and that any incoming funds are legitimate. This can be especially valuable if you're new to yacht ownership or if you're dealing with a complex transaction. 

​
In conclusion, using a yacht broker when buying or selling a yacht can be incredibly beneficial. From their expertise and knowledge to their access to listings, negotiation skills, industry connections, and peace of mind, a yacht broker can help make the process smoother and more efficient.
​
If you're in the market for a yacht, or looking to sell your current vessel, consider working with Joe Papperman to ensure you get the best possible deal.