[indexfundnl]

Dear readers,

First I must admit: I don't know much about yacht ownership.

But I am doing alot of research because I want to buy a yacht(600k-800k).

How can I find a truly objective person who can help me with buying a yacht and someone who can help me with everything else I need regarding yacht ownership.

My post here is not a request for someone who can help me, but my post is about : how can I recognize a truly objective person who can help me.

Anyone some good advice?

Kindest regards,

Anne
quality@indexfund.nl

[rbmitchell]

I would not rely on one person's opinion but rather gather a consensus from owners of yachts of the boat style meeting your requirements. Pascoe, who I find is quite biased, is a useful part of that concensus.

If you go to a website such as yachtworld.com "Boats for Sale" or any other boat listing, you can get an idea of the size and style of boat that fits your budget, or other, constraints. If you leave out the brand name in the search it will return all boats within your size and/or price range.

People who own a boat like that, especially sport fishermen, will usually be happy to talk (brag) about their boat.

[fish]

not necessarily about finding an objective person, but it might be beneficial to visit a large international boat show (like Miami two weeks ago). You will have to weed through a lot of " our boat is better than theirs" but you will get a chance to see in person a lot of different makes, form some opinions as to what you like and don't like... etc. It might help you narrow your search.

Also, if the opportunity presents itself, it is amazing what you can find out from the crew of a yacht. Many have worked on a lot of different vessels and are not trying to sell you one so they tend to be a lot more objective (until they start telling you the crews quarters are not large enough). Hehe

Just my $.02

Fish

[Steveyacht]

I posted this on the other thread and sent an idividual e-mail. This is a great question and one that I feel deserves discussion.

Anne,

You have asked a very difficult question. First, I will let you know that I have been in the yacht brokerage business for a while. During that time I have served a variety of clients in their search for the type yacht that you mention.

I have found that you, as the buyer should call and/or meet with a few qualified brokers/consultants. I have always preferred the eye-to-eye meetings. Allot can be said by body language and first impressions. If that is not possible or convenient, then an extensive phone interview. Treat it as if you are hiring someone, which is exactly what you are doing.

See how willing that person is to go out of their way to earn your business. Ask for references. A good broker should be able to provide you with a few names of previous clients as well as some professional references, such as marine surveyors, finance professionals and fellow brokers.

Whenever you enter into this sort of professional relationship, a sense of trust must follow. If there is a shadow of mistrust, move on. I have told more than one potential client that I felt I was not the right guy for them. While that may sound counter productive, I have my reputation to maintain and I will not let a dishonest seller blemish it.

I have also previewed boats and gone to survey for clients. It would not have taken much to convince them to buy the boat in question, but I recommended they turn it down, then proceed to tell them why.

You are doing the right thing, in my opinion, by relying on the advice and knowledge of professionals. Sort of what I or any or any one should do when they need legal advice, medical attention, financial consultation or if a car needs repair. If you happen to want me to work for you and there is something I can do to earn your business, then I will work hard and greatly appreciate that. If not, I hope that whatever knowledge, wisdom and opinions I have will point you in a direction that will provide you with total satisfaction and long term happiness.

Anne, you are preparing to make a large investment in a complicated piece of equipment. Go into this with your eyes wide open.

[aeronautic1]

I do not know how many times I have run yachts for people for the past 30 years who did not have a mission plan prior to buying the yacht, only to find out after they had bought it, that it just came up short of the objectives of the owner. The second time around, the prospective buyer and I discuss in great lengths the operational aspects of the vessel with regards to area cruised, range needed, equipment required and length of ownership. accomodations etc... I will never forget the guy from Alabama who got a "really good deal" on a Gulfstar Morotyacht; right up until the time the family tried to enter/exit the water with full scuba gear. See, they bought the boat for diving (?). "Oh, I can add a cockpit to it..." was his response. "Yeah, but you'll never see the money back when you sell..." was mine. So you see, mister thinking about buying a yacht, it would be advantageous for you to speak with a professional captain; one with some extensive and long term knowledge about your mission statement and vessels on the market before you go shopping a yacht broker. I enjoy kciking tires at boat shows with my clients. Buying the wrong boat is harder to re-sell than one you enjoy using.

[Capt. Joe]

Establish a trusted relationship with a Marine Consultant in the area where you are or you will be using the yacht. Pick him or her by word of mouth from vessel owners, Captains and Crew only. (Everyone else will have their own agenda, albeit sometimes Insurers or Lenders can turn you unto a good lead.) Walk the docks at marinas and ask questions. Boaters and crew love to talk about their boats and experiences.
A Consultant can listen to your needs, advise you on the type of vessels you should visit at shows to acquaint yourself with different layouts, do the hiring of your Surveyor / Representative in the country where the boat of your interest may be, and continue working with you after delivery and during your ownership.
The important thing is that the Consultant is not paid a commission on your purchase, the Consultant does not profit from what kind of boat or how expensive a yacht you get into, if you ever do get into a boat. The Consultant makes his money on doing the logistical chores of your vessel search and ownership. And, his business is strictly return client and very much reputation dependent. That makes the Consultant the obvious objective person for your purpose, and while still there are no real guarantees, it betters the chances of your investment being in good care.