All posts by DavidTomen

David has lived on or near the water all his life - in this dimension anyway. He lives in God's country (south Florida) with his wife and two kids, and a dog and a cat. He spends his days on the water or just a few steps away. His current claim to fame is Certified Professional Yacht Broker. You can contact David by leaving a comment on this Website, email to david@oasisyachts.com, or call him at (954) 614-1663. The door is always open and I'll leave the light on for you.

How to Find THE Boat

There are 100,000’s of boats for sale in the world right now. In that sea of boats for sale is the ideal boat for you. I am going to show you how to find that boat. THE boat. Your boat. The boat you have been dreaming of but cannot seem to find.

I am a Certified Professional Yacht Broker which you can check out here. I have been helping people find the right boat since 1989. With this information you can empower yourself and finally end that frustrating hunt for the ideal boat. In future articles you will learn how to buy the boat and get it home. And then the fun begins!

Clearly the most obvious way to begin your search is using the Internet. Not many people read the classifieds in the papers and magazines anymore. The beauty of an Internet search is that you have access to information about practically every recreational boat that is for sale in the world while sitting in front of your computer screen. And it’s free!

Start your search with the largest Multiple Listing Services (MLS). Most of the time, you can search without registering or giving anyone your contact information. You have access to much of the same listing information as do yacht brokers.

Yacht Council is a multiple listing service that was launched by the International Yacht Council several years ago. You can find them here. This site was started by and is still owned by yacht brokers from all over the world. On Yacht Council you can be reasonably sure that the information on each boat is up to date and is actually for sale. The brokers that subscribe to this service adhere to a strict code of ethics and we keep each other accountable to keep this site the most professional listing service for yachts on the Internet. You can also find information on yacht transport, insurance and financing on this site.

Yacht World has the most boats listed in one place and is a good place to start especially if you are looking for a boat in the USA. On the left side of the front page is the Boat Search box. Click on Advanced Search at the bottom of that box. Be as specific as you can in filling out the fields and click on the region or country where you are interested in searching. Narrowing down the specific geographic area helps to keep the number of boats returned in your search results to a manageable level. Most yacht brokerage houses list their boats on Yacht World. Paid subscribers to the service have access to Sold Boat Reports, statistics and other terrific stuff. But unless you are a yacht broker you simply have access to the photos and descriptions of boats offered for sale.

Yacht World was bought by Trader Publications a few years ago. You may know that company through their Boat Trader, RV Trader, and Auto Trader magazines you find in the corner convenience store. Trader Publications also has their own online boat listing service called Boat Trader Online. You can access them here. Be aware that most of the boats listed on Boat Trader are also listed on Yacht World. Boat Trader used to be a For Sale by Owner site that has since been taken over by yacht brokers. You can still find some For Sale by Owner boats there but not many.

Those are the top three best places to start your boat search. Those sites are also used by yacht brokers when they are perusing boats for sale for their clients. A Google search will turn up several other listing services. Take it from a Certified Professional Yacht Broker (me!) that those are the only sites that I use and in the order listed at the beginning of this article.

In my next article you will learn how to get more information about the yacht in which you are interested. I have empowered you now to find the perfect boat for you and your family or business.

See you on the dock!

David

Ensure Your Money is Safe

This article is relevant to you as a boat buyer whether you reside in the USA or another country. There have been a number of bank failures and bank takeovers in the United States in recent months. This information may help ensure that your money is safe when you decide to buy a boat in the USA.

To purchase a boat in the USA you are typically asked to put down a deposit. On pre-owned or brokerage boats the deposit is 10 percent of the total purchase price with the balance paid upon your Acceptance of Vessel. If you are not a resident of the USA you need to be aware that Letters of Credit are generally not accepted. Nor are cashiers checks or bank checks. Any reputable yacht broker representing a seller will not accept an offer on a vessel unless that offer is accompanied by a deposit in the form of a wire transfer of funds into that broker’s escrow account.

Several states in the USA including Florida and California have very strict regulations governing the use of escrow accounts in the yachting industry. Those regulations can be found here. Make yourself familiar with the use of escrow accounts in the state you are purchasing your yacht. The laws and general practice in the use of these accounts may not be the same as they are in your own country.

Use some caution and investigate the yacht broker you are choosing to employ to purchase your boat. Even with the regulations and laws in place to protect your deposit funds caution is always advised. We will address choosing a US based broker in another article but for now it is up to you the buyer to ensure that the broker you employ is reputable. Seek referrals if you can. You have no obligation to choose as your broker the person who has the listing on the yacht. Commissions are customarily split in this industry between buying and selling brokers and you will not save any money by electing to have one person handling both ends of the transaction. In fact logic would tell you that there is a conflict of interest if your chosen broker is representing the seller as well.

Another option is to instruct your broker to have your deposit funds managed and put into escrow by a law firm that practices admiralty law and also specializes in yacht transactions. I recommend Alley, Maass, Rogers & Lindsay, P.A. in Palm Beach, FL only because of personal experience. You can find them here. They handle US-based as well as international transactions. And they will be happy to work with your legal firm at home or to refer you to a firm in another state if appropriate.

That brings us back to the escrow account and how to determine if your money is secure during the purchase process. You should ask your broker or lawyer the exact name of the bank that handles their escrow account. This is particularly relevant with the turmoil happening today in the financial markets. Here are two excellent sources you can check yourself from home and for free.

The FDIC or Federal Deposit Insurance Corporation in the United States is an independent agency of the federal government. It is funded with premiums that it collects from the banks that they insure. They directly examine and supervise banks that have been chartered by the states or by the federal government. Their website offers reports of the banks that they insure for free. Click on View Reports, and then click on Uniform Bank Performance Report.

Another method is using Bauer Financial, Inc. All U.S. banks and federally insured credit unions are rated by Bauer Financial. No bank pays for this service, nor can they elect to avoid it. They have the ratings on their website here and it’s free!

It is safe to purchase a boat in the United States even in these tumultuous times. Just make sure you do your homework before you part with your hard earned money.

Call me or send me an email if you have any questions.

How to Buy a Boat in the USA

If you are interested in buying a boat in the United States then this article is for you. There has never been a better time to buy a boat in the USA. There is excess inventory available. Prices are lower than they have been in years. With the strength of other currencies versus the US Dollar you can purchase a boat in the USA, pay for shipping the boat home and import duties, and realize a substantial savings over buying the same boat in your country.

Take a look at this example. As I write this 0.68 Euros will buy 1.00 USD. Translated into real buying power consider that a yacht valued at:

· $100,000 USD can be purchased for 68,449 Euros.

· $500,000 USD can be purchased for 342,245 Euros.

· $1,000,000 USD can be purchased for 684,490 Euros.

http://www.xe.com/ucc

Now take into consideration that this example only reflects taking advantage of current exchange rates. New and used boats are now discounted by 20 to 30 percent or more from normal market value or standard retail prices in this country. That means that you can often purchase a boat in the USA for more than 50 percent off what you would pay at home.

Is it worth it for you to learn how to find the perfect boat for your needs that far away from home? You bet it is! You can save a lot of money and get the yacht of your dreams with not much more effort than buying off a dealer or broker in your home town.

I will be giving you step by step instructions on how to buy a boat in the United States and save a huge amount of money. You will learn how to do the search painlessly from home for no more than the cost of your Internet connection and possibly a few phone calls. You will know how to transfer money safely and securely. You will understand the logistics and the legal aspects of arranging export and shipping your new purchase. And I will give you tips on navigating the importation of the boat into your country.

I encourage you to subscribe to this blog and watch for updates. Feel free to contact me by email or phone.  david@oasisyachts.com or (954) 614-1663.

Until next time enjoy your time on the water!

David Tomen CPYB

Preparing Your Boat For Sale

So now you have decided that it is time to sell your boat. You have done some research on the Websites that you clicked through to in the last blog. You have discovered that your beloved boat is not the only boat for sale. As I write this there are 120,569 boats for sale on Yacht World alone. Clearly you have some competition. If you want your boat sold first we have some work do.

With the universal acceptance of the Internet over the last few years, the Web is the first place most boat shoppers go to see what used boats are available, the new models that boat dealers have in stock, current asking prices, and other relevant information to help them make an intelligent boat buying decision. If they do not know how to access that information they ask one of their kids to do it for them.

By the time a client shows up at my office and tells me that they want to buy a boat they often know much more about a specific model than I do as a yacht broker and practically anyone else in the industry. They know what boats are available, what condition the boats are in, what current asking prices are, and what that specific boat model has sold for in the last six months. You have access to the same information and need to use that market intelligence to formulate your selling strategy.

In my next blog we will talk about pricing and begin getting your boat ready for sale. Have a terrific day on the water and I’ll see you next time after you have done your homework!

See you soon!

David

(954) 614-1663

Attracting Overseas Boat Buyers

I mentioned in my last post that all of the boats that I have sold in the last 10 months have been to people outside of the United States. Everyday there is a story proving that you are not the only one experiencing this lack of American boat buyers. A story late last week about the boat show in Tacoma, WA focused on the number of foreign attendees on the dock looking for bargains.

It is an understatement to say that you have your work cut out for you if you live in the USA and have a boat for sale. This is indeed a buyers market. The chances are slim that your boat will sell quickly. Even if you have a popular model that is clean and has been extremely well maintained chances are she is still at your dock.

You have another option. Advertise your boat offshore and attempt to attract the attention of the boat shopper overseas who is looking for your model of boat. How do you do that? It is unlikely that you personally have the marketing expertise or connections to target that foreign market. You need to find someone who has tapped into that market, knows where to advertise and understands what steps are necessary to get that buyer to fly in to take a look at your boat. You only have a couple of viable options.

Doing it yourself by taking out an ad on Boat Trader Online or one of the other For Sale By Owner listing services is unlikely to yield any results any time soon. I deal with boats and boat owners everyday and am amazed at the number of people even in America who do not have a clue where to go online when shopping for a boat. Do not expect that guy hunched over his PC in Greece to find your Sea Ray in Erie, PA.

The chances of your boat being viewed online and brought to the attention of overseas buyers rises dramatically when you hand over that responsibility to someone who is already familiar with those markets and has a proven track record in attracting offshore boat buyers to the United States.

Your best option is to search for a yacht broker based in the USA who is familiar with and has listings similar to your model of boat. Check that brokerage out on www.YachtWorld.com or www.YachtCouncil.com.

Check to see if they have any boats listed overseas. Determine who the broker is on that brokerage team who has the most overseas expertise and call them. Tell him that you are frustrated with the lack of inquiries on your boat and that you wish to sell her to someone outside the country. Check out three or four brokers with similar experience until you find one that you trust and have an easy rapport. Verify that they are a Certified Professional Yacht Broker. You can verify that by going to www.cpyb.net.  There are around 450 in this country. You may even have to talk to professional brokers who may not be from your hometown.

Feel free to contact me with any questions.

Have a splendid weekend and see you next week!

Cheers,

David

(954) 614-1663