Boat for Sale Singapore 2007 Bondway 70' Houseboat Sold

Client testimonial: "We both bought and sold our boat with William and Dione. Very nice to deal with, good follow up and lots of helpful advice for everyone involved.

It was awesome because BASCO is very friendly to deal with, excellent follow-up and lots of good advice for everyone involved."

Thank you Simon & Marion, it was a pleasure to sell your beautiful 2007 Bondway 70' Houseboat. We hope you enjoy the next stage of your adventures!

Case Study

Background

The boat owners purchased the houseboat through BASCO approximately 7 years prior and due to entering their retirement phase of life with different plans and countries for retirement adventures, they decided that they would investigate putting their boat for sale on the market sooner rather than later. They had observed the length of time it had typically taken for boats to sell in the pre-pandemic houseboat sale market.

Initial Consultations

It was apparent that the owners were serious and realistic about selling their houseboat and wished to prepare in advance for their next adventures in their life. As houseboat purchasers, they already understood the issues, risks and intricacies of buying a registered liveaboard houseboat in Singapore.

The main issues to be discussed were

1. The current market demand and recent sales and prices

2. The expected price range for a houseboat such as theirs

3. How long it would likely take for a sale to occur

4. The level of market awareness and paid marketing that should be invested into the houseboat for sale project given items 1-3 above

5. The pricing strategy and best listing option

To understand more about the different ways to sell your boat, see our blog here "What Does it Cost to Sell Your Boat?"

Next Steps

The first thing the BASCO team did, was to research all the houseboat sales in the last 24 months. Since BASCO is the leading sales team for houseboats for sale in Singapore, much of this information was in-house and already known. In addition, checking their private database of boats for sale and transacted prices was also done to review houseboats still on the market after a long time as well as those that had transacted.

Proposal

An exclusive, traditional boat brokerage service was recommended in the first instance. Due to the increased market demand following the pandemic uptick in people buying boats globally, and the realistic price expectations of the owners, it was assessed that in the first instance, specialist marketing wouldn't be needed. If, after 3-months of traditional marketing, the enquiries and offers were less than expected, we could review and implement the next step in the plan!

Results

The boat reached a successful sales conclusion 6-months within listing. This was the third written offer received. Additionally the houseboat generated 36 enquiries had 12 viewings and more than 10,000 social views.

What worked particularly well with this project?

1. We knew the market inside and out

2. The owners were serious about selling (and moving on with their lives)

3. The owners were market aware also

4. The buyer was easy going, fun, knowledgeable and moved fast

5. Great boat, nice people, matched expectations, game on!

What was challenging about this project?

There was very little challenging about this boat sale, which is unusual (and welcomed!). The limited numbers per viewing / per day due to the pandemic created some scheduling challenges from time to time, and with the Open "House" numbers as well.

The biggest challenge and disappointment to overcome was that the first deal, signed and agreed, fell over at the last minute. This was the biggest challenge then overcome by selling the boat to another buyer.

All in all a great project and all parties are happy!