Dec. 1, 2009
Clients and other brokers have been telling me to do a blog, so I will give some updates and insights.
I had a closing two weeks ago on one of my listings, a 1998 68' Princess. These yachts are built in England, and imported into the U.S. by Viking and are known as Viking Sport Cruisers. However this one was originally sold in Europe and was imported by the seller.
The buyer is from Australia, and the Princess has already been loaded on a ship to head to the land down under.
As I said it was built in England. When the American seller purchased it in Croatia, he registered it in the British Virgin Islands to use in the Med. Then it was shipped to the US and used here for awhile, and now sold by a broker from Miami, originally from Venezuela, to be shipped to Australia. We hear and read about globalization, this was my month to be part of that trend.
Then last week I closed on a 52" Sea Ray sedan that is being shipped to Venezuela!
NOT FOR SALE TO US RESIDENTS WHILE IN US WATERS
People ask me about this statement seen on the ads in boating magazines and on websites. If a yacht is flagged outside of the US and is flagged in a country that has reciprocal priveleges with the US, it can get a CRUISING PERMIT to allow the yacht to travel between US ports without clearing customs at each port. The cruising permit does not allow any commercial use of the yacht including listing it for sale. However the yacht can be shown to residents of other countries when it is here, and many buyers in Florida are non residents. Yachts can also get a BOAT SHOW BOND where the owner pays a bond on the import duty to be able to put the boat in a boat show.
Dec. 7, 09
It has been a tough year for boat sales. I have a listing on a 1991 49' Grand Banks. Back in October, an offer was made on the boat at $215,000, so the seller made a counter offer. Neither buyer nor seller could move enough to put a deal together, it is difficult to get boats sold in the current market, so it was on to the next one. Six weeks later the same buyer made another offer on the boat, this time offering $195,000. Huh? How did the value drop $20,000 in six weeks? Did I miss something? How did the buyer expect the seller to agree this month but not last month? So the seller made the exact same counter offer as before, situation normal.
Dec. 28, 09
Another low offer from a different buyer on the Grand Banks came in and the owner decided take the boat off the market and send it to Texas. He had the boat hauled, fresh bottom paint, new zincs, pulled the shafts, stabilzers were pulled and serviced, air conditioners and refrigeration were all serviced.The buyer decided that since all this work was done, he would come up much higher with his offer and buyer and seller have agreed on a price. We will soon have a survey and sea trial, but the seller developed health problems and is in the hospital. Situation normal as we try to get everything organized to arrange for a survey. The seller is in Teaxas, the buyer is in the Bahamas, and the selling broker is based in Dubai, but is licensed in Florida.
Jan. 2, 10
I had a good New Years Eve day after putting together a purchase agreement on one of my listings, a 2004 61' Marlow with another broker. Meanwhile the Grand Banks deal is still hanging on, but I do not have everything in writing from all of the parties.
One of the other brokers in my office brought an offer on the 1979 58' Hatteras Long Range Cruiser from an Australian citizen, who wants to ship the boat to Malaysia. It is another very low offer from a buyer who has not seen the boat yet, he will not be here for a few weeks. We sometimes write agreements "SUBJECT TO PERSONAL INSPECTION" sometimes they actually close but often they do not, this is one of those offers.
Jan 10, 10
I did a boat trip over Friday and Saturday, drove over to Naples, Fl to get a 2004 50' Sea Ray Sundancer. Friday was a perfect day, the temperature got up to the low 70's which was a big improvement over our recent unusual low temperatures, with light and variable winds less than 10 knots. We cruised accross the Gulf of Mexico at 24 knots to Knight Key Channel, just west of Marathon, and passed under the Seven Mile bridge, and then up Hawk Channel to Islamorada.
That night, the next cold front came through and the wind shifted to the North and Northwest at 20 to 25 knots with clouds, rain and temperatures in the upper 40s. However the plan was to run along in Hawk Channel, which is south of the keys for protection, then through Angelfish Creek into Card Sound and into Biscayne Bay for more protected waters for the trip up to Miami.
The boat had just been purchased with the actual closing on Friday at 10 AM, it was sold by another yacht broker, he hired me to go as captain. The buyer is from Panama, so it it is another international transaction.
How can you give free dockage?
Bradford Marine Yacht Sales is a subsidiary of the world's largest undercover yacht repair facility. We have extensive dockage located on the New River in Fort Lauderdale and can offer this free dockage when we have a central listing. The normal rate for dockage is $1.25 per foot, per day, this rate is waived, the dockage is free. There is no charge for dockside services, including water, trash pick up, and 24 hour security. There is a charge for electricity, but even that is reduced by 50%. Our 24 hour watchmen are trained to listen for bilge alarms, and to check the waterline of all yachts stored here, besides controlling access to the docks. This is a great deal for a seller who wants to keep a boat for sale in the Yachting Capital of the U.S. At $12.50 per day for electricity, that means it is only around $400 per month to keep a yacht with 50 amp power, undercover on Fort Lauderdale's Marina Mile.
Jan. 16. 10
I have been selected to be listing broker of the yacht HARD ASSETS , a 100' Jones Goodell yachtfisherman. More info soon.
Jan. 22, 10
I had a closing today on the 61' Marlow that I had a listing on, sold by another broker.
Feb. 3, 2010
I spent the weekend at Trawler Fest at Bahia Mar Marina here in Fort Lauderdale. This event is produced by Passagemaker Magazine. I had planned to have on display a 55' Florida Bay Coaster, but a purchase ageeement was reached on the boat just two days before the Fest. Instead I brought the 63' President Legend which is a motor yacht not a trawler, but many people liked it.
Yesterday I put together a purchase agreement for the 49' Grand Banks, DUET, we will have a sea trial later this week.
Feb. 5, 10
The sea trial went well on the 49' Grand Banks with very rough conditions, the stabilizers worked very well. However there were many items not working correctly on the boat, but the boat handled better than expected. Situation normal, some compromises by all involved to make the deal happen.
Feb. 11,10
Yacht and Brokerage Show in Miami this weekend!!! Come see the 92' Jones Goodell at the end of ramp 17.
Feb. 17, 10
I have been working on a closing for the 55' Florida Bay Coaster, the buyer's attorney finally has agreed with the seller's attorney to get the paperwork complete. We were going to close on Feb 16th but the attorneys are doing what they are supposed to do, and protect both parties.
Feb. 26, 10
Both the 49' Grand Banks and the 55' Florida Bay Coaster have closed, both with the normal glitches and set backs with delays. Pending now are the 395 Island Pilot, awaiting word from the sellers bank as it is a short sale, and the offer on the 58' Hatteras Long Range Cruiser. The buyer wants to get some financing and it may be hard to obtain on a 31 year old boat.
March 10, 10
I have an agreement on the Island Pilot 395. Next step is the survey on March 17, 10. We will meet early in the morning with the buyer, his surveyor and a hired captain to run the boat for the day. We will head over to the lift to get hauled out first to have the bottom pressure washed then the surveyor can check the hull and outdrives. Then back into the water and down the river to the ocean for full speed runs along with runs at differewnt RPM from 1200 up. Test the electronics and autopilot then back up the river.