On September 15, 2008, we all watched as Lehman Brothers collapsed into bankruptcy, sending the entire U.S. economy into a downward spiral that, at the time, felt like it would never end. The years before this had been excellent for the stock market and real estate, and yacht sales were no different. Those were glorious years—until everything suddenly came to a halt and came crashing down. Since 2003, it had been a seller’s market, with boats selling for asking price or more as demand exceeded supply almost 2 to 1.

While the Lehman Brothers debacle seems like an eternity ago, today’s market is starting to feel like déjà vu. The last four years have seen the strongest yacht sales market ever. Boats once again sold for overinflated prices, with the number of buyers greatly exceeding available inventory. In 2024, we started to see a shift from a seller’s market to a buyer’s market. Naturally, it has taken time for many sellers to accept that their boats are no longer worth what they were just 12 months ago.

In January 2009, our sales team sat down to strategize how we could keep momentum going and continue selling boats. We concluded that, no matter the market conditions, there will always be buyers if the price is right. The challenge was simply finding that “right” price to make a buyer step up to the plate. That’s when the “Killer Deal” concept was born—and it was a huge success.

We reached out to sellers to see who was most motivated and whether they would be interested in joining the Killer Deal program. To qualify, a vessel had to be priced at least 20% below what we considered to be the market average for a similar vessel. Many sellers wanted to participate, but fewer than 10% met the pricing criteria.

The program turned out to be extremely successful. Over a nine-month period, we sold more than 20 yachts. Of those, eight sold for more than their initial Killer Deal price because we received multiple offers the same day they were listed. An added benefit of the program was that some buyers who missed out on a Killer Deal asked us to find other motivated sellers willing to offer similar pricing—leading to even more sales.

Over the next few months, we will be offering Killer Deals as they become available. If you’d like to be among the first notified, please fill out the form below.

RECEIVE KILLER DEAL NOTIFICATIONS

GET YOUR BOAT EVALUATED FOR A KILLER DEAL