Selling Your Boat In Canada: Brokerage Market Update
While the beginning of fall might be the end of boating season in Eastern Canada, in some cases boat sales are just heating up! Many cruising boat owners are heading south to warmer climates, while some are putting their boat on the market in the hopes of upgrading for Spring. If you’re a yacht enthusiast, the Fort Lauderdale Boat Show is approaching which will showcase well over a thousand boats, many of them never before seen to the public. Marine360 has expert sales professionals on staff that can help guide you to the best decision for your needs, whether that means finding a yacht for sale in Canada on the market, custom ordering a new boat, or helping to sell your current one.
With two locations in Québec and Ontario, along with market leading boat service and storage, Marine360 has everything you need to enjoy the boating lifestyle. And with leading new boat manufacturers like Absolute, Aquila, Axopar, and Galeon, we have options for every type of on-water activity.
IS THE BOAT MARKET UP OR DOWN?
It’s been a turbulent year for boat sales overall as demand started to finally come down from the skyrocketing sales during the last few years. It was only a matter of time before the market began to right itself as we’ve seen a slightly longer time on market than in 2021-2022 and more price reductions. Still, boats are being sold and vessels with complete service records, in great condition, when priced correctly, are still selling aggressively.
According to the yachting industry MLS, the powerboat market between 9 and 24 meters is down 7% year-to-date compared to the same range in 2023 and 2022. There have been more than 150 boats added to the brokerage market in Canada in the last month which is up about 30 boats compared to the previous month. More on the market!
Because this represents a fairly broad range of segments in the boating industry, it’s important to consult with a professional yacht broker about the specific type, brand, and model of boats you are interested in to get a more accurate picture.
TIME IS OF THE ESSENCE
If you are considering listing your boat for sale this year, it’s highly recommended that you begin the process now whether you plan on storing it in Canada for the winter or heading south to Florida. “Properly listing a boat takes time,” said Vincent Piétracoup, General Manager of Marine360. “It’s no secret that we don’t have too much longer before winter sets in so getting good photography in sunny skies can go a long way in how we represent your boat for sale online.”
If heading south for the winter, Marine360 is happy to represent the sale of your yacht and has years of experience representing clients that choose to cruise while their boat is on the market. “With the Fort Lauderdale Boat Show coming up, the market in South Florida will definitely see a spike in activity,” continued Vincent. “If we can get the listing up in early October, it gives us a great opportunity through the beginning of December to find a buyer for you.” Time is of the essence, though, as getting your boat ready for the market can take some time, especially to market it properly.
WHAT YOU CAN DO TO HELP SELL YOUR BOAT
While the responsibility is on your yacht broker to get your boat sold for you, there are some things that you can do, as the owner, to make the most of the process. Here are 5 tips from our team that can help everyone involved in this process:
- Compile and organize all service records so the potential buyers can see its history.
- De-clutter your boat. Try and remove things that make your boat look worn.
- Pay for a pre-market survey. This will give you a good indication if anything needs to be fixed.
- Spend the money for a professional detail before picture day.
- Be open to moving your boat to a different location if the broker suggests it.
When you are looking to sell a yacht, it truly is a team effort. Marine360 has the internal support team, marketing, customer database, and industry knowledge to get your boat sold fast.
Please do not hesitate to contact us at 844 424-7462 with any questions about our products and services. You can also visit us directly in Île-aux-Noix, in the Haut-Richelieu region, or in St. Catharines in Ontario. We look forward to seeing you at the upcoming boat shows!