Selling your motor yacht can feel overwhelming, with numerous details to manage effectively. At Flagship International Yacht Brokers, Australia's leading yacht brokerage, we make the journey smooth and satisfying for both you and the buyer of your vessel. Our comprehensive process ensures maximum market exposure, qualified buyer introductions, and expert guidance throughout the transaction.
We will promptly connect you with a knowledgeable yacht broker to understand your specific requirements and selling objectives. They'll assess if our premium brokerage package aligns with your needs and, when feasible, schedule a personal inspection of your motor yacht. During this inspection, our broker will meticulously complete a Condition Report and comprehensive Inventory, essential for the valuation process and potentially shared with prospective buyers. Your signature will be required on the Inventory to confirm its accuracy. Upholding ethical standards is paramount at Flagship International Yacht Brokers, and we anticipate the same from our clientele. Therefore, it's vital to disclose any pertinent details or historical aspects of your vessel that could impact its value or seaworthiness at this initial stage.
Drawing upon historical yacht sales data, current market trends, the condition of your vessel, its location, and various other pertinent factors, your Flagship broker will provide you with a comprehensive valuation estimate. At Flagship International Yacht Brokers, we pride ourselves on our access to an extensive repository of past yacht sales data within the Australian and international markets, enabling us to offer you informed and accurate valuations for your motor yacht, whether it's a Nordhavn, Azimut, Riviera, Sunseeker, or another premium brand.
Once you've determined that Flagship International Yacht Brokers is the ideal choice for selling your motor yacht and are satisfied with the valuation presented by your broker, we'll request completion of the Authority to Sell form. Additionally, you'll need to furnish several documents and supplementary information necessary for creating an effective yacht listing.
Essential Yacht Selling Documents and Information:
- Authority to Sell: Fully completed, initialed, and signed by all relevant parties.
- Yacht Registration Documentation: Demonstrating your name or your entity's name as the vessel's owner.
- Importation Papers (if applicable): All pertinent details regarding the yacht's international movements (e.g., clearance papers) are necessary for addressing any Customs inquiries that may arise.
- Marine Insurance Certificate of Currency: Every yacht under our management must possess its own insurance policy with public liability coverage, a requirement for most marinas or boatyards where your vessel may be stored.
- Identification: A copy of your Driver's License (for Australian Residents) or Passport (for Overseas Residents), along with a Company Registration Certificate if the selling entity is a company. The Company Registration Certificate must designate you as the authorised representative of the entity.
- Proof of Yacht Ownership: Previous Bill of Sale (for pre-owned vessels) or purchase invoice (for new yachts), serving as evidence that you or your entity are the rightful owners of the yacht being sold.
- Professional Yacht Photos & Videos (optional): If available, please provide high-quality photos (especially exterior shots) and/or videos of your yacht to your broker promptly, as they may enhance the listing. Note that photos should be high-resolution (approximately 1-2MB) and in landscape orientation.
Once you've finalised the Authority to Sell form and submitted ALL necessary documents, our marketing team will initiate a comprehensive campaign for your motor yacht. Your vessel will be featured on the Flagship International Yacht Brokers website, various other high-traffic marine sales platforms, and across our social media channels targeting qualified buyers. Additionally, your yacht will be displayed physically within our sales offices and distributed via e-Newsletters to clients in our exclusive database whose interests align with your yacht's specifications.
You'll receive a link to your online yacht listing to review the details. Please carefully inspect all information and promptly notify us if any adjustments are required to ensure your motor yacht is presented optimally to the market.
Motor Yacht Offers: For potential buyers situated away from the yacht in question, and prior to scheduling any viewings, we recommend that the Buyer opts for a formal document to establish mutual agreement on price and conditions. This step ensures alignment before the Buyer commits to extensive travel plans to inspect the vessel. It affords the Buyer sufficient time to arrange travel and make an informed decision. At this juncture, the Buyer is required to submit a nominal Option Deposit, confirming their commitment. Upon mutual acceptance of this option document and receipt of the Option Deposit by the Buyer (held by Flagship International Yacht Brokers), the yacht is reserved for that Buyer until their inspection occurs. During this period, the Seller cannot entertain other offers. The duration will be specified in the Option Document.
Yacht Viewings: Typically, viewings occur subsequent to an offer being made. However, there may be instances where in-person inspections take place without a formal offer. Your Flagship broker will manage all inquiries and associated logistics. They will provide you with regular updates, at least on a monthly basis, to ensure the best possible price and conditions are secured for the successful sale of your motor yacht.
If the Buyer decides to proceed with the purchase following their inspection, a Standard Purchase Agreement will be prepared and must be signed by both the Buyer and the Seller. While both parties have the option to include their own terms in the Standard Purchase Agreement, typically, a yacht sale is contingent upon the outcome of the survey and sea trial process at a minimum. Additional conditions may involve financing, the sale of another vessel or property, or specific items being repaired or replaced. Subsequently, a 10% refundable deposit is required within 3 days of signing the Purchase Agreement to secure the vessel at the agreed-upon price.
Yacht Survey: The Buyer has the option of engaging a marine surveyor of their choice to assess the vessel. This ensures they receive impartial advice on its condition and any potential, albeit unlikely, issues. For ethical reasons, Flagship International Yacht Brokers cannot select a surveyor for the Buyer, but we can offer a list of reputable marine surveyors near the yacht's location.
Yacht Sea Trial: The Buyer may opt to arrange a sea trial at a mutually convenient time for themselves, the Flagship broker, and the Buyer. Your broker will handle all necessary arrangements for the survey and sea trial. Upon receiving the survey results and completing the sea trial, the Buyer may proceed with the purchase or raise any concerns with the broker, who will then discuss them with you.
Yacht Survey and Sea Trial Costs: Typically, the Buyer covers all expenses related to the survey and haul in/out. In some instances, the Buyer may request the Seller to share some of these costs. If a professional skipper is needed for the sea trial or delivery, this expense is typically borne by the Seller. All arrangements must be coordinated through your Flagship broker and approved by you as the Seller. Throughout, the yacht remains covered by the Seller's insurance policy.
Yacht Remediation: Should it be determined that repairs are necessary to meet the advertised standard or the conditions of the Purchase Agreement, quotes can be obtained. If the Buyer and the Seller agree on the cost of these repairs, rather than delaying the sale, it's common to proceed with the sale at a discounted settlement price reflecting the agreed-upon repair value. The Buyer is not authorised to undertake any repairs until taking possession of the yacht after settlement. Any repairs before settlement must be authorised in writing by the Seller. All negotiations will be managed by your Flagship broker to ensure your interests are protected.
Unconditional Acceptance Form: Upon fulfilling all conditions stipulated in the Purchase Agreement, the yacht sale proceeds to unconditional status. The Buyer will be requested to sign the Unconditional Acceptance form. It's crucial to understand that at this juncture, the Buyer's deposit becomes non-refundable, signifying the irreversible commitment to purchase the vessel. This commitment enables your Flagship broker to facilitate the following:
Encumbrance Check: Prior to settlement, our finance team conducts a thorough search on the Personal Property Securities Register to ensure clear title transfer from the Seller to the Buyer, protecting both parties in the transaction.
Signing of Original Bill of Sale Documents: Two Bill of Sale Documents will be dispatched for your signature. These documents must be promptly signed and returned to Flagship International Yacht Brokers (at least 1 week before settlement) to ensure availability for signing by the Seller at settlement. Failure to receive these documents by settlement date poses a risk of default. These original documents are exclusively handled by courier and may require some time for transport, depending on the Seller and Buyer's locations. Following final signing by the Seller, one original document will be provided to the Buyer and one to the Seller.
Final Payment: Transfer of the final settlement amount to Flagship International Yacht Brokers Trust Account is mandatory at least 48 hours before the settlement date/time. However, the earlier these funds are transferred, the greater the likelihood of meeting the settlement date.
Flagship International Yacht Brokers will oversee the yacht sale settlement process at the agreed-upon date and time, acting as the intermediary for both the Buyer and the Seller. We serve as the security checkpoint during this pivotal stage, ensuring that documents and funds are held in trust until all parties are content and ready to proceed with settlement. As a member of esteemed marine industry organisations, Flagship International Yacht Brokers adheres strictly to the relevant industry's Code of Practice.
Bill of Sale Documents: Upon confirmation of cleared funds into Flagship International Yacht Brokers Trust Account and completion of all requisite document signings, Flagship International Yacht Brokers will facilitate the exchange of signed original Bill of Sale documents between the Seller and the Buyer.
Transfer of Funds: We will arrange for the transfer of funds from Flagship International Yacht Brokers Trust Account to the Seller. Depending on the banks involved and whether transfers are domestic or overseas, this process may take several days.
Yacht Registration Transfer: Your Flagship broker will assist the Buyer in selecting the necessary registration, and our administration team can aid in the registration procedure. Although the Buyer can initiate the registration process at any time, finalisation is contingent upon the Buyer possessing an original copy of the fully signed Bill of Sale, which will be provided by Flagship International Yacht Brokers at settlement. Subsequently, the Buyer can present the original signed Bill of Sale document to their state registration office to complete the registration process.
De-flag Certificates: In certain instances, a De-flag certificate (de-registration certificate) may be required from the Seller. Typically, the Seller initiates this process post-settlement finalisation. Flagship International Yacht Brokers will expedite the delivery of these documents to the Buyer as promptly as possible. If requested by the Buyer, a small portion of the settlement funds may be retained by Flagship International Yacht Brokers in trust until the Buyer confirms receipt of all necessary documentation.
Marine Insurance: For the mutual benefit of both parties, we recommend that the Seller maintains their yacht insurance policy until after the settlement date, while the Buyer should initiate their insurance policy before the settlement date. Flagship International Yacht Brokers can facilitate quotes from top marine insurance companies globally to ensure continuous protection for the vessel.
