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Sell

Selling Process

Selling your yacht can be a complex and overwhelming experience, with many factors to consider. At The Yacht Sales Co., we are committed to delivering an exceptional sales experience for all clients, providing the highest standards of service and an extraordinary sales and marketing campaign to ensure your boat is exposed to a worldwide audience of buyers.

Below is a step-by-step guide outlining the process of selling your yacht through the industry’s premier yachting specialists. If you would like any further information, please do not hesitate to contact us.

Part 1: List your Yacht with us

See our Brokerage Information Pack and learn more about the process.

Brokerage Information Pack

Contact us and one of our dedicated Sales Consultants will contact you shortly to discuss your specific needs in detail. They will review whether our Brokerage Package aligns with your requirements and, where feasible, arrange a time to inspect your boat in person.

During the inspection, the Sales Consultant will complete a comprehensive Condition Report and a detailed Inventory. These documents will play a key role in the valuation process and may also be shared with potential buyers during the sales process.

You will be required to review and sign the Yacht Inventory to confirm its accuracy. At The Yacht Sales Co., we pride ourselves on maintaining the highest ethical standards in all our dealings, and we expect the same from both buyers and sellers. To ensure transparency and integrity, it is essential to inform your Sales Consultant immediately of any details or history about your boat that could impact its value or seaworthiness.

Your Sales Consultant will provide you with a valuation estimate based on past sales, current market knowledge, your boat’s condition, location and other determining factors. The Yacht Sales Co. is has a global sales network and extensive access to sales history data across the industry. With numerous Sales Centres in various locations around the world, we also operate in several currencies and can list your boat in the currency most convenient for your situation and boat location.

Click here to request a valuation of your yacht

Documents: Once you decide The Yacht Sales Co. is the perfect partner to sell your boat and you are happy with the valuation provided by your Sales Consultant, we will ask you to complete the Authority to Sell form. You will also need to provide several documents and further information which we require to list your boat. (Please note: we are not able to list your boat or offer it for sale in any way until ALL documents have been received).

Handy note: You can supply all the required documentation directly to your Sales Consultant, or to speed up the process, you can complete the Request Brokerage Information Pack Form and supply all your documentation online.

Required Documents and Information:

  1. Authority to Sell (click to download): Completed, initialled and signed by the relevant parties.
  2. Tax Status and Supporting Documentation: If taxes have been paid on your boat in any countries, please provide official evidence. If in doubt, please discuss with your Sales Consultant.
  3. Registration Documentation: Showing your name or your entity name, as the owner of the vessel.
  4. Importation Papers, if relevant: We require all information about the international movements of the boat (ie. clearance papers), so we can respond to any Customs enquiries that may arise.
  5. Signed Inventory: To be completed by your Sales Consultant and signed by you. This will form part of the Sale Contract and must therefore be accurate.
  6. Insurance Certificate of Currency: All boats under our care are required to hold their own insurance policy with Public Liability cover. This will be required by most marinas or yards storing your boat. The Yacht Sales Co. and our Insurers cannot be held liable for any damage caused to your boat while in our care.
  7. Identification: A copy of your Driver’s Licence (Australian Resident) or Passport (Overseas Resident) and a Company Registration Certificate if the selling entity is a company are required. The Company Registration Certificate must show you as the authorised representative of the entity.
  8. Proof of Ownership: Previous Bill of Sale (pre-owned boats) or Purchase Invoice (new boats). This is your proof that you or your entity are the rightful owner of the boat being sold.
  9. Photos & Videos (optional): If you have photos (exterior shots in particular) and/or video of your boat, please send these to your Sales Consultant as soon as possible, as they may be used in the marketing of your vessel. NB: photos should be high resolution (approximately 1 -2MB and in landscape orientation).

Once you have completed the Authority to Sell form and provided us with ALL required documents, our Administration team will begin the process of listing your boat on The Yacht Sales Co. website, various other online sales sites and through our social media channels, physically within our relevant Sales Centres and also via e-Newsletter to clients in our database whose criteria of interest fits your boat criteria. The listing process will take approximately 3 business days after receiving all required documents.

You will be sent a link to your online listing to confirm the listing details. Please check all information carefully and advise us as soon as possible if anything needs to be updated. It is ultimately your responsibility to ensure the details about your boat are being promoted honestly and accurately.

We’ve found a buyer for your boat, so what’s next?’¦

Part 2: Sell your Yacht

  • Offers: For interested buyers who are located some distance away from the boat, we encourage them to take an Option via formal document prior to them making extensive travel plans to inspect. The Buyer is also required to pay a small Option Deposit at this time, confirming their authenticity and genuine intent. Upon signed acceptance of this Option by both parties and payment of the Option Deposit by the Buyer (held by The Yacht Sales Co.), the boat is considered held for that Buyer until their inspection has taken place. The Seller is not able to accept any other offers during this period. The period will be defined in the Option Document.
  • Viewings: These are usually only conducted after an offer has been made, however on some occasions without a formal offer there may be various in-person inspections. Your Sales Consultant will be there to handle all these enquiries and any associated logistics. They will keep you updated on a monthly basis (minimum), ultimately getting you the best possible price and conditions for the successful sale of your boat.

  • Should the Buyer wish to continue with the purchase after their viewing, a Standard Purchase Agreement will be drawn up and must be signed by the Buyer and the Seller. Both the Buyer and the Seller can choose to include their own conditions in the Standard Purchase Agreement. However, as a minimum, a sale is usually conditional on the outcome of the survey and sea trial process. Other conditions may include finance, sale of another boat or property, an item being replaced or fixed. At this point a 10% refundable deposit will be payable within 3 days of signing the Purchase Agreement to secure the vessel at the agreed price.

  • Survey: The Buyer will be required to engage a surveyor of their choice to survey the vessel. This ensures they receive independent advice on the condition of the vessel and any potential but unlikely issues that may present themselves. For ethical reasons The Yacht Sales Co. cannot choose a Surveyor for the Buyer but we may provide a list of Surveyors nearby to your boat’s location.
  • Sea trial: The Buyer may also choose to arrange a sea trial at a time convenient for yourself, the Sales Consultant and the Buyer. Your Sales Consultant will take care of all necessary arrangements regarding the survey process and the organising of a sea trial. After receiving the results of the survey and the completion of the sea trial, the buyer may choose to proceed with the purchase or raise any concerns they have with the Sales Consultant, who will discuss them with you.
  • Survey and Sea Trial Costs: All costs regarding the survey, haul in/out are generally at the expense of the Buyer. In some cases, the Buyer may request some of these other costs to be shared with the Seller. If a skipper is required for sea trial and/or delivery, this would usually be covered by the seller. All arrangements must be made via the Sales Consultant and agreed by the Seller. At all times the boat will be covered by the Seller’s insurance policy.
  • Repairs: Should it be decided that repairs are required for the boat to meet the standard to which it was advertised, or to meet the conditions of the Purchase Agreement, quotes can be obtained and if the cost of these repairs are agreed by the Buyer and the Seller, rather than hold up the sale it is usually agreed for the sale to continue with the settlement price discounted by the value of the agreed repairs. The Buyer is not authorised to conduct any repairs until they have taken possession of the boat after settlement. All repairs prior to settlement must be authorised in writing by the seller. All negotiations will be handled by the Sales Consultant.

  1. Unconditional Acceptance form: Once all conditions are met as per the terms of the Purchase Agreement, it is time for the sale to go unconditional. The Buyer will be asked to sign the Unconditional Acceptance form. It is important to note that at this point the Buyer’s deposit is no longer refundable and the purchase of the vessel has gone unconditional. This commitment allows the Sales Consultant to arrange the following:
  2. Encumbrance check: Prior to settlement, our Finance team will conduct a Personal Property Securities Register search to ensure clear title can be transferred from the Seller to the Buyer.
  3. The signing of Original Bill of Sale documents: Two Bill of Sale Documents will be sent to you, and these must be signed by you and returned to The Yacht Sales Co. as soon as possible (a minimum 1 week prior to settlement) to be available for signing by the Seller at settlement. Failure to receive these documents by settlement puts you at risk of default. These original documents will only be handled by courier and can take some time for transport depending on the Seller and Buyer’s location. After final signing by the Seller, one original will be provided to the Buyer and one to the Seller.
  4. Final payment: Transfer of the final settlement amount to The Yacht Sales Co. Trust Account will be required a minimum 48 hours prior to the settlement date/time. However, the earlier these funds are transferred, the more likely the settlement date can be met.

The Yacht Sales Co. will handle the settlement process at the agreed settlement date and time. The Yacht Sales Co. acts as the security for both the Buyer and the Seller during this process. We will ensure documents and funds are held in trust until all parties are satisfied and happy to proceed with settlement. The Yacht Sales Co. is a member of the International Yacht Brokers Association, Boating Industry Association of Australia, the New Zealand Marine Industry Association and the Thailand Marine Business Association and is bound by the applicable body’s Code of Practice.

Bill of Sale Documents: Once the funds have been confirmed as cleared into The Yacht Sales Co. Trust Account and all documents are signed as required, The Yacht Sales Co. will facilitate the handover of signed original Bill of Sale documents to the Seller and the Buyer.

  • Transfer of Funds: Arrangements will be made for the funds to be transferred from The Yacht Sales Co. Trust Account to the Seller. This transfer may take several days depending on the banks involved and if the transfers are domestic or overseas.
  • Registration Transfer: The Sales Consultant will assist the Buyer with choosing the registration they require, and our Administration team can assist in the registration process. The Buyer can start the registration process at any time, however registration cannot be finalised until the Buyer has an original copy of the final signed Bill of Sale, which will be provided by The Yacht Sales Co. at settlement. At this point, the Buyer will be able to take the original signed Bill of Sale document to their state registration office to complete the registration process.
  • De-flag certificates: In some cases, a De-flag certificate (de-registration certificate) may be required from the Seller, however the Seller would not usually begin this process until the settlement process has been finalised. The Yacht Sales Co. will arrange for the Seller to get these documents to the Buyer as soon as physically possible and, if required by the Buyer, a small portion of the settlement funds may be held by The Yacht Sales Co. in trust until the Buyer is satisfied they have received all required documentation.
  • Insurance: In the interest of both parties, we recommend the Seller continues their insurance policy until after the settlement date and the Buyer should start their insurance policy prior to the settlement date. The Yacht Sales Co. can assist with quotes from the world’s top marine insurance companies. Click here to complete the online Quote Request Form to start the insurance quote process.