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Miami Boat Show Tips

  By Andy Kniffin | January 29, 2013 - 11:27 am |
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Are you thinking of coming to the Miami Boat Show in Miami Beach, Florida?    Here are some Miami Boat Showtips which can make your experience more pleasurable at the upcoming Miami boat show!

 The Miami boat show is staged in the middle of February (February 14-18, 2013).

Boat shows in South Florida are amazing events, drawing yachts of all types and sizes from around the world.  Despite world economic issues, the yachting world has managed to survive and even proliferate.  Many new and exciting yacht models are introduced at the Miami Boat Show, along with new technology improvements.

The Miami International Boat Show is actually staged in several areas:

  • Miami Beach Convention Center – (1901 Convention Center Drive, Miami Beach, Florida) Inside and outdoor displays featuring smaller boats including run-abouts, outboard boats and technology vendors – tickets required
  • Sea Isle Marina (1635 N. Bayshore Drive, Miami, Florida) – Featuring new yachts and a large selection of mid-sized brokerage yachts (no ticket required)
  • Strictly Sail at Miami Marina Bayside (400 Biscayne Blvd, Miami, Florida)  Featuring all sailing yachts both new and brokerage sailing yachts

Courtesy shuttle buses run to all three locations.  Water taxis provide shuttle services between Sea Isle and Bayside Marinas.

A separate and very popular venue (not associated with the Miami International Boat Show) is the Miami Yacht & Brokerage Show located on Collins Avenue between 41st Street and 51 st Street.  New yachts for sale (typically found directly on Collins Avenue towards the south end of the boat show) and used yachts for sale are found in this large show.  A section of the Miami Yacht & Brokerage Show is dedicated to trawler enthusiasts and known as the Trawlerport Long-Range Cruisers Show at the north end of the Miami Yacht & Brokerage Show.  Admission is free to all sections of this show.

 For the active attendee, the Miami Boat Show can be overwhelming in size.  This boat show consists of mainly motor yachts including sport fishers, trawlers, cruisers, pilothouse yachts and mega yachts. In water yachts typically starting at 40’ with mega yachts up to around 170’ in length.   It is hard to see the different venues offered at the Miami boat show in just one day.

 Tips for the Miami boat show:Miami Boat Show Manatee

  • Fly into the Fort Lauderdale International Airport or the Miami International Airport.  While the Fort Lauderdale Airport is a bit further, it is a much easier airport to fly in and out of.
  • Make reservations for hotels early.  The most desirable hotels are located on the beach along AIA. Most hotels are an easy taxi ride to the show or by shuttle service.
  • Parking for the Miami boat show can be challenging.  Some pricy valet service and lots are near the front of the Yacht and Brokerage show.  Public parking lots nearby the show fill up quickly by boat show vendors and many can be found on 41st Street.  One of my favorites is a public garage located just to the north of 41st and Royal Palm Drive.  Other public parking is available in metered spaces (bring plenty of quarters) just south of the Collins Avenue show and along A1A.
  • Wear good walking shoes which are easy to slip in and out of.  All show yachts require removing shoes before boarding. A lot of walking will be needed to see the various yachts.
  • Check the weather and bring an umbrella if it looks like it will rain.
  • There are not many bathrooms, however there are portable ones scattered mostly along the south side of the Miami Brokerage Show directly on Collins Avenue.
  • Good restaurants can be found in the hotels directly across from the Miami Brokerage Show on Collins Avenue.
  • Wear summer clothing as it is often hot at the Miami boat show
  •  Make plans to come to the boat show on the least crowded days which include Thursday, Friday and Monday.  The weekends at the Maimi boat show are very crowded.
  • If you are actively looking to buy a yacht, you should consider engaging a yacht broker who:
    • Will provide an itinerary with yachts closely matched to your needs and guide you to them
    • Arrange for tickets or passes to the various paid boat show venues
    • Get you on yachts easily and without having to register
    • Be able to show you the finer points of the various yachts often with ‘inside’ knowledge
    • Arrange for visits to local yachts in your category which may not be in the boat show.  There are often plenty of yachts which are actively for sale, but not in the show.

Ak Yachts of Fort Lauderdale, Florida will provide the best possible service at no cost for you to make the most of your Miami boat show experience!

“Greg and I can’t thank you enough for all your efforts during the 2012 International Boat Show in Fort Lauderdale. Your seamless door-to-door service through the winds and rain of hurricane Sandy made our two days at the show productive, informative and comfortable. Had we wandered the docks on our own we would have significantly reduced our ability to view boats and would not have had the benefit of your industry knowledge to better guide us. Our time aboard some thirty or more vessels that you had pre-selected for our review was well targeted and efficiently executed. As a result of the large number of appropriate boats viewed we were able to focus our preferences more accurately and begin to formulate a realistic strategy for our buying decisions. Thank you very much once again for your time and attention and also our thanks to Connie for her driving prowess!”

Greg Braunig and Scott Breuninger

Yachting Weather Resources

  By Andy Kniffin | January 1, 2013 - 7:37 pm |
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Yachting Weather Decisions are not always easy to make – but can make the difference between good times and not!

A Superior Skipper always makes Superior decisions which don’t require the use of his Superior skills!Red Sky at Night - Sailors Delight!

Enjoyable yachting starts with understanding and planning trips in relationship to weather patterns. It is much more enjoyable to be safely tied up to a sheltered dock than having to endure a rough day with guests looking at you with accusing eyes. Indeed the success of getting the family and friends to embrace the yachting lifestyle centers around smooth sailing. A wise skipper always plans alternative routes around weather – not only to ensure comfort, but safety and the well-being of the vessel. For instance, if the wind is ‘honking’ from the northeast, why not instead plan a leisurely trip in the protected waters of Biscayne Bay and the Keys south rather than risking a crossing to the Bahamas?

South Florida and the Bahamas share similar weather patterns. Winter months, from December to March, often herald weekly cold fronts moving in from the northwest. Because of the wind shifts predictably, many yachters wait for these fronts to cross over to the Islands. Because the Florida Straights (the body of water between Florida and the western Bahamas) become extremely rough when the wind shifts out of the north (Gulf Stream current moving against the wind), it is wise to move when the wind shifts to the south and west. As a cold front approaches, the winds start shifting in a clockwise manner, often allowing a ‘lull’ in wave activity with enough time to navigate between islands in comfort. After a cold front passes through, the wind often blows from the north and northeast until the next front charges through; thus encouraging smart boaters to stay put and enjoy the scenery. Sometimes the wind completely dies down during winter days, for spectacular flat water yachting opportunities.

Thunderstorms while yachtingAs winter moves to spring, cold fronts become less frequent, displaced by occasional large high pressure domes offshore in the mid-Atlantic (known as Bermuda highs) which bring steady easterly winds in excess of 15 knots for several weeks at a time. An advantage is that the water is now steadily warming; thus encourage more swimming activities.

Summertime is an absolute joy to enjoy yachting between South Florida and the Bahamas. One can live in a bathing suit, taking advantage of a quick dip whenever too warm in the abundant sunshine (take care to use sunscreen – often). With the summer season, many yachts disappear for the north, thus many marinas lower rates and have plenty of space. But the winds are light, often prevailing out of the south and east at 10 knots or less for weeks at a time. Summertime thunder-storms are quite frequent, typically forming in the late afternoon. These can be quite windy, with intense lightning and occasional water spouts (tornadoes over the water). It is best to avoid these by changing course and/or avoiding going out when these storms are forming.

Hurricanes are the nemesis of living in paradise. These occur when the water temperature becomes too hot. Often, at the beginning of the season, we see hurricanes forming in the Western Caribbean and southern Gulf of Mexico – often moving north and east to threaten west Florida. As summer advances, Hurricanes form in the eastern Atlantic, influenced by weather patterns rolling off Africa. Mid August through October are famous for these ‘marchers’ whose path often collides with the Bahamas, Florida and the southeastern US seaboard. The most dangerous storms often form quickly in the eastern Bahamas in late summer and pick up thermal energy quickly from the warm waters of the Bahamas and the Gulf of Mexico. Often the fall storms revert to the paths of the early summer storms by forming in the western Caribbean and moving north. Prudent owners will always have a hurricane plan in place and pay close attention to forecasts during the season.

The best advice for minimizing impact from these dangerous storms is to try to move out of their apparent path as early as possible. Seek shelter inland, up rivers or on the other side of the State. Remember that these storms often ‘push’ large surges of water in front of them and that the wind can change 360 degrees as the storms pass. Having good, plentiful lines and fenders are the best possible insurance for making it through storms safely. Staying onboard during a strong hurricane should be reserved for the purely foolish.

Venturing to the eastern Bahamas en route to the Caribbean islands, the prevailing tradeyachting weather lightning winds are out of the east and start rising in the morning and steadily increase throughout the day, then dying off during the evening hours. Plan to take 4-7′ seas on the nose from the eastern Bahamas all the way to St. Thomas and beyond. A smart way to avoid this is to transport the yacht to the Caribbean and work back West going comfortably with a following sea. As one moves past the eastern Bahamas, the effect of cold fronts becomes less with the prevailing trades becoming dominant. However, once down in the Leeward islands, it is quite easy to move between islands on a north to south beam sea.

Our newest best friend to yachtsmen, is the advent of satellite weather which can overlay a plotter, making it quite simple to see where the weather is good or bad and to make the decision to stay or go. An electronic mix of weather reports are typically available though out Florida and the Bahamas. Weather routing services employ the services and resources of experienced meteorologists to assist in longer trip planning.

Tides can also play a dominant role in trip planning, especially if a vessel is draft restricted. For the most part, tides run 2-3 feet in Florida waters and less as one moves east and southeast. It is wise to be aware of the tide levels when operating in shallow areas and where current plays a role. The moon phase plays a significant role in tidal fluctuations.

Useful Yachting Weather & Waves Websites

NOAA Weather –  A comprehensive US government website with a variety of excellent forecasting tools from the National Oceanic and Atmospheric Administration.

Weather Underground Marine Forecast – a favorite tool for marine weather forecasting!

Bouy Weather - A premium paid service essential for long range marine weather forecasting and weather routing.

See our Home Page for real-time weather conditions in Florida and beyond!

Yacht Transport & Yacht Deliveries

  By Andy Kniffin | January 1, 2013 - 7:06 pm |
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Yacht Deliveries and yacht transport makes sense with professional yacht captains

This article is written by a free-lance yacht captain who regularly delivers yachts and transports yachts along the US eastern seaboard and the BahamasUS yacht deliveries

For the past fifteen years or so, yacht transport and deliveries have been a sizable and important part of my business. Many are to the Bahamas and Caribbean but the majority are along the east coast and take place during the spring and fall migrations. Most involve motor yachts but the occasional sailboat sneaks its way in just to keep life interesting. In the next few paragraphs I would like to describe what a typical east coast delivery is like for a delivery captain including the routes I like to take and a few of my favorite stops. Since we are nearing springtime I will start in Ft. Lauderdale and head north as many boaters will be doing in the coming months.

Most owner/operators treat this trip as a vacation and an opportunity to use their pride and joy and visit some of the many accommodating and historic ports along the way. As a delivery captain my mission is to get my customer’s yacht from point A to point B safely, undamaged and as economically as possible. The exception being when I make the trip with an owner’s party on board for all or part of the voyage.

On the trip I will generally run ten to 14 hours per day with the occasional overnight travel when weather and fuel capacity dictates. I have favorite marinas I like to stop at that I have been frequenting for years because they meet my needs. They are conveniently located, can be gotten in and out of safely in bad weather and after dark and allow me to fuel in my slip rather than having to move to a fuel dock. The last item is pretty important after a long day and saves a lot of time when taking on 500 or a thousand gallons of fuel. I rarely anchor out because most anchorages along the way fill up early, it requires additional crew for anchor watches and we usually have to go in for fuel anyway. Also, the cost for dockage is relatively inexpensive compared to South Florida prices when you get a little further north. It also allows captain and crew to get a good nights rest before the typical pre-dawn departure.

Most delivery captains, myself included, will tell you that their version of hell would be to have to travel Florida’s intercoastal waterway back and forth non-stop as punishment for their sins. Ft. Lauderdale to Palm Beach alone can easily be six or seven hours of torture navigating no wake zones and bridge schedules that seem designed specifically to frustrate boaters. My goal, weather permitting, is to travel outside as often as possible. In fact I like to stay offshore until I get to Beaufort, NC. and if the vessel has the fuel capacity, I will travel non-stop for two or three days to get there. Cruising speed during daylight hours and around ten knots after dark.

This might be a good point to mention the condition of the Intercoastal Waterway. As I noted earlier, the South Florida section is slow due to congestion but some parts of Northern Florida and most of Georgia, South Carolina and southern North Carolina have areas that have shoaled so badly that if you draw anywhere near five feet you have to play the tides for safe passage. An example in Georgia would be the Little Mud River area near Savannah, where many boats have to anchor and wait for a rising tide . Then there’s the Myrtle Beach area in South Carolina. Due to no wake zones and bridges you would be hard pressed to make one hundred miles in a day. So an outside run is preferred and there are good deep water inlets all along the way with readily available fuel and dockage.

When in Beaufort, NC, I always stay at and recommend The Beaufort Docks. Well protected with fuel available at every slip and located conveniently in town.

Cape Hatteras lighthouseHeading north from Beaufort I generally go inside through the sounds. In good weather going outside around Cape Hatteras can save some time but the inlets south of the Chesapeake can be difficult (require local knowledge) and the distances involved in getting out around Capes Lookout and Hatteras make the trip difficult to do in a day (challenging the range of smaller boats). I generally make the inside run up Adams Creek to the Neuse River, then Pamlico and Albermarle Sounds; stopping for the night at the famous Coinjock Marina. Coinjock offers a long face dock with fuel at every slip, a small but well stocked store and a restaurant that serves the best prime rib on the trip. The run is about one hundred and fifty miles but there are only a couple of very short no wake zones and the sounds are autopilot friendly. There are two fixed bridges of a little over thirty feet so be sure to check your vertical clearance or you may have to go the slower route through the Alligator River/Pungo River Canal.

From here it is only fifty statute miles to Norfolk, VA but you need to check the bridge and lock schedules carefully and get your timing right. In Norfolk, some of the bridges do not open during morning and afternoon rush hours starting as early as three thirty PM. The Norfolk area also has tight security with a lot of enforcement so watch your wake and don’t stray to close to any naval vessels. Tidewater Marine in Portsmouth, VA is a good place to stop for the night but there are many others to choose from if there is time to cover a few more miles.

The next leg involves exiting the Chesapeake Bay and traveling north on the outside. Depending on the weather and the vessels range my next stop may be Ocean City, MD, Cape May, NJ or my preferred stop, Atlantic City. I usually arrange to stay at Kammerman’s Fuel Dock and go directly to my favorite Italian restaurant.

From Atlantic City it is an easy run up the Jersey coast into New York Harbor. If my destination is further north I go up the East River to Long Island Sound with all types of facilities to choose from and then on to Newport, RI, the Cape Cod Canal or wherever this yacht’s summer home happens to be. Then it’s usually a quick trip to the airport and back to Ft. Lauderdale to start it all over again.

As far as time is concerned there are many variables, not the least of which is weather, but I have made the trip from Ft. Lauderdale to New York City in as little as three days in a Hatteras Sportfish (just had to get there) and as long as three weeks in a sixty foot vintage Feadship trawler at six and a half knots.

Delivering yachts is often demanding and full of surprises – not only due to weather, but yacht rough wavesproblems that show up with the boats. However, every trip offers variety, great scenery and the ability to be on the water. This reason (second to paying my bills) is what keeps me coming back.

Written by Captain Steve Dumont – Fort Lauderdale, Florida
Cell (954) 614-5092
Email bfyachtservice@yahoo.com

Steve is a free lance yacht captain with many years of experience, and all-round knowledge of motor yachts, sportfishing yachts, trawler yachts and sailing yachts. He is available for yacht deliveries and refit/maintenance services for new yachts or used yachts.

Related Articles include “Transporting Yachts” on transport ships

Fort Lauderdale Boat Show Tips

  By Andy Kniffin | October 11, 2012 - 11:31 am |
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Are you thinking of coming to the Fort Lauderdale boat show, otherwise known as FLIBS (Fort Lauderdale International Boat Show)? Here are some tips which can make your experience more pleasurable at the Fort Lauderdale boat show – “The Yachting Capital of the World”!Fort Lauderdale Boat Show

Boat shows in South Florida are amazing events, drawing yachts of all types and sizes from around the world.  Despite world economic issues, the yachting world has managed to survive and even proliferate.  Many new and exciting yacht models are introduced at the Fort Lauderdale boat show, along with new technology improvements

 The Fort Lauderdale boat show is staged on the last week of October.  The main in-water show is located at Bahia Mar marina and runs up to the Hall of Fame marina ending at the Las Olas municipal marina.  Another section of the boat show is located at Pier 66 marina, the Hilton Marina which is accessible by water taxi which runs between events.  The Broward Convention Center features smaller boats and equipment.  All venues connect with shuttles.

 For the active attendee, the Fort Lauderdale boat show can be overwhelming in size.  This boat show consists of mainly motor yachts including sport fishers, trawlers, cruisers, pilothouse yachts and mega yachts. In water yachts typically starting at 40’ with mega yachts up to around 170’ in length.   It is hard to see the Fort Lauderdale boat show in just one day.

 Tips for the Fort Lauderdale boat show:

  • Fly into the Fort Lauderdale International Airport.  This is a fine airport located very close to the Fort Lauderdale boat show.
  • Make reservations for hotels early.  The most desirable hotels are located on the beach along AIA. Other hotels are available near Las Olas and along 17th Street.  Most hotels are an easy taxi ride to the show or by shuttle service.
  • Parking for the Fort Lauderdale boat show can be challenging.  Some pricy valet service and lots are near the front of the boat show.  Public parking lots nearby the show fill up quickly by boat show vendors, so don’t count on them.  Other parking lots are staged for the Fort Lauderdale boat show across from Pier 66 and in the Las Olas area
  • Wear good walking shoes which are easy to slip in and out of.  All show yachts require removing shoes before boarding. A lot of walking will be needed to see the various yachts.
  • Check the weather and bring an umbrella if it looks like it will rain.
  • Wear summer clothing as it is often hot at the Fort Lauderdale boat show
  •  Make plans to come to the boat show on the least crowded days which include Thursday (VIP day), Friday and Monday.  The weekends at the Fort Lauderdale boat show are very crowded.
  • If you are actively looking to buy a yacht, you should consider engaging a yacht broker who:
    • Will provide an itinerary with yachts closely matched to your needs and guide you to them
    • Arrange for tickets or passes to the boat show
    • Get you on yachts easily and without having to register
    • Be able to show you the finer points of the various yachts often with ‘inside’ knowledge
    • Arrange for visits to local yachts in your category which may not be in the boat show.  There are often plenty of yachts which are actively for sale, but not in the show.

Ak Yachts of Fort Lauderdale, Florida will provide the best possible service at no cost for you to make the most of your boat show experience!

“Greg and I can’t thank you enough for all your efforts during the 2012 International Boat Show in Fort Lauderdale. Your seamless door-to-door service through the winds and rain of hurricane Sandy made our two days at the show productive, informative and comfortable. Had we wandered the docks on our own we would have significantly reduced our ability to view boats and would not have had the benefit of your industry knowledge to better guide us. Our time aboard some thirty or more vessels that you had pre-selected for our review was well targeted and efficiently executed. As a result of the large number of appropriate boats viewed we were able to focus our preferences more accurately and begin to formulate a realistic strategy for our buying decisions. Thank you very much once again for your time and attention and also our thanks to Connie for her driving prowess!”

Greg Braunig and Scott Breuninger

 

Andy Kniffin - Yacht Broker - Ak Yachts

 

                      “Yachting is the Ultimate Lifestyle!”

 

Contact Andy Kniffin – yacht broker   (954) 292-0629, andy@akyachts.com.

Tips for Selling a Yacht

  By Andy Kniffin | September 20, 2012 - 12:51 pm |
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selling a yacht

Selling a yacht?   Experienced yacht sellers know that there are proven methods to sell their boat or yacht in an expedient way in order to obtain the best price.  Many owners who consider selling a yacht  go through trials and tribulations during this process, which can be frustrating and delay the day when it is ultimately sold.  Here are some recommendations to speed up this process when selling a yacht:

LIST YOUR YACHT

Engage a certified yacht broker who is knowledgeable, well-recognized and with a proven track record for selling yachts such as yours (and not necessarily a big company broker – as independent yacht brokers often offer a more diligent option). Since the internet is becoming the primary method for selling a yacht today, a seller should check the online presence of the broker and his yachts for sale.  The chosen broker should have a good track record of interacting with other yacht brokers and a willingness to go to extra lengths in order to get the boat sold.  Enter into an exclusive listing agreement with a specified time period.  If the yacht broker doesn’t seem like he/she is doing their job effectively…move on – but first understand what your agreement specifies with regards to the listing agreement expiration period.

akyachts for sale uses online market techniques

Very few yachts are sold by owner (FSBO), and while it means paying a commission, having a centrally listed boat will dramatically increase the odds of finding a buyer. Although some sellers feel that an open (that is, non-exclusive listing) makes it possible for the seller to sell the boat themselves… it is proven that this strategy is not the best for the active seller – as no one will be actively marketing the boat to your best interest, rather your boat can become a form of ‘bait’ for getting buyers and selling the buyer a different boat, along with the likelihood that the information about your yacht is likely to be diluted and not accurate. It is a strategy which will certainly prolong the sale with the yacht seller eventually coming to the realization that a central listing is essential to good marketing for selling a yacht.

The yacht broker will be able to guide you as to market pricing, suggestions for better presentations and also provide a buffer between the yacht seller and buyer, which often enables better negotiating.

DEVELOP A GREAT BROCHURE

Brochure for Selling a Yacht

The yacht broker should prepare a comprehensive specification along with superior photography prepared for selling a yacht.  Poorly written specifications and lousy photos don’t help at all and tell the buyer that the broker who prepared the listing is careless or lazy – which often reflects on the boat.  Good photos should include high quality wide-angle photos of the interior, good outside profiles and exterior areas along with key machinery spaces.  A layout image also helps. The final brochure should be approved by you (the seller) and be posted to key internet mls systems along with other social networking sites such as youtube, facebook, twitter, blogs, etc.

MAKE THE YACHT PRESENTABLE

Remove the clutter and store personal belongings.  Ensure that the interior is spotlessly clean.  You might even consider new bed coverings, accent pillows and some attractive knick-knacks arranged tastefully. Have the photos of the boat taken when she is looking her best. Do some maintenance and improvements which will make your boat stand out in the buyers’ eye.  Get rid of odors (I use an inexpensive air purifier by Honeywell with has an ionizer and often add a product called KO  to the holding tanks).  Have your boat buffed and waxed professionally…and then ensure that she is clean for each and every showing.  Have areas of corrosion addressed and protected in the machinery spaces…and ensure that these areas are also clean and look well maintained.   In other words, when selling  a yacht, put yourself in the buyers’ shoes so that they get a terrific first impression!

TAKE CARE OF PROBLEMS AHEAD OF TIME

The seller will either ‘pay now or pay later’ – and later costs a lot more! It is wise to consider having a pre-buyer’s survey (even if it is done by a trusted maintenance company) done in advance.  While this may seem like a waste of money, it often helps to identify issues and problems before they show up at the critical time of the buyer’s survey – and give the seller time to remedy in a cost effective way.  It always costs the seller more to adjust the price or repair known issues after the fact than it would before the fact…and sometimes at the risk of losing the buyer!

LOCATION IS KEY

Locate the yacht in an area which is conducive to yacht buyers. South Florida is a haven for buyers and sellers…along with yacht brokers who will be actively showing your boat.  While most yacht sellers think that prospective buyers don’t mind traveling if they are focused…it is a proven fact your boat will show more often if it is easy for buyers to get to it.  For example, I have had a nice, upscale pilothouse yacht located in the Florida Keys for a year with only a few showings.  Moving the boat to Fort Lauderdale brought the same amount of traffic in only a few weeks.  Locating a boat in South Florida also provides a good area to the seller to continue using the boat year-round with great cruising areas, excellent yachting services and relatively inexpensive dockage.

Also, it is very important for the yacht to be easily accessible which means that the dock and yacht entrance should be easy to get on board and off with consideration being made with tides and boarding ladders.

PAY ATTENTION TO THE MARKET PRICING

Price your yacht in tune with the market.  Just as when you bought your boat, buyers will determine the market price.  Your boat certainly has competition and even if it is an uncommon model…it will sell if priced in accordance with the market.  Traffic should give you a clue for the price.  If your boat is in nice condition, ready to show and located well; but no traffic…you should adjust the price accordingly.  For example, I recently had a very nice 46’ Bertram sport fisher and a late model Searay 44 express – both with plenty of competition.  They both sat on the market for a while because they were priced above the rest of the market.  As soon as the seller lowered the price into the median range of the competitors…bingo – they both sold within 30 days with buyers clamoring for the purchase.

BE OPEN TO A TRADE

Consider the possibility of taking another boat in trade.  Many buyers are avid yachtsmen who enjoy yachting and want to move up.  Many of these buyers already have a boat and are reluctant to put their boat on the market; only to wait until it sells in order to move up to their new dream yacht. Thus a yacht seller who is open to a trade possibility will have a much better chance at not only selling over a yacht seller who is resistant to a trade, but also will reduce his cost of ownership and perhaps gain a smaller trade that can be enjoyed.

The key is for both the yacht seller and yacht buyer to be fair and transparent with their pricing and yacht deficiencies.  Often one party will be more aggressive with their approach than the other…which will simply not work.

Another option is for the yacht seller to make the deal for the selling boat (with the liquidated value of the trade held back by the buyer) and give the yacht buyer time to sell his trade boat at an advantageous price – with a ‘parachute price’ specified in advance by a wholesale buyer in the trade yacht doesn’t sell.  In this case the seller would hold a mortgage against the selling yacht until the trade yacht sells and would then liquidate the trade yacht after a certain period of time.

NEGOTIATE FAIRLY

If you have followed the tips above, you should see offers coming in. Buyers should be qualified and have financing lined up in advance.  They should be in the form of a written purchase agreement which will be secured by an escrowed deposit once the offer is accepted, with time given for due diligence followed by an acceptance or rejection of the yacht by the buyer.  Hopefully a realistic buyer will have financing already lined up if they intend to borrow from a lender.

Given the current financial climate, the yacht seller should expect ‘bottom feeders’, that is, buyers who make ridiculous offers with the hope of finding a desperate seller.  Realistic buyers will often make offers within 85-90% of the asking price (provided the yacht for sale is priced fairly in accordance to the market)  – as no one wants to pay more than they have to.  The wise yacht seller will start negotiating with an indication that they are inclined to reduce the asking price – followed by a series of rounds until a deal is struck.  “Drawing a line in the sand” early in the negotiating is not recommended, as it tends to alienate the yacht buyer.  Your yacht broker will be an invaluable asset during this period; helping to explain your position, maintain an atmosphere of congeniality and gathering insight into the buyer’s concerns.

Invariably, most yacht sellers fail to realize that some issues will be coming up on survey and that they will need to be remedied (either with a price reduction or repair) in order to get the buyer to accept the boat (see above tips on Taking care of problems ahead of time).  The wise buyer will negotiate for a remedy of the serious issues and not focus on the minor issues without becoming emotional.  Sometimes, a ‘perk’ such as dockage or something else can be offered to the yacht buyer to displace a concern.

In conclusion, a yacht seller who follows these tips will find that their yacht has a much better chance of selling quickly and at a better net amount realized.  Unsold yachts still cost the owner for ongoing costs such as insurance, dockage, maintenance and often interest.  Not to mention the continuing depreciation.  Smart sellers realize these facts and find that taking these measures early, makes the process much to their advantage.

Contact Andy Kniffin CPYB at (954) 292-0629 directly or email him at andy@akyachts.com with any questions.