news

Whether a novice or experienced boat owner, the process of purchasing or selling a boat can be a lengthy one, and as with any investment, it is always a wise decision to turn to those who have the resources to assist you in becoming a well informed and educated consumer in the boating industry.  Please stop by and discover the difference that is Latitude Yacht Brokerage.

Our booth (#406) is located on the right hand side of the show along the outside wall.  Please call if you cannot find us (401-560-0007).

by Matt Leduc

Good boats, that are priced right, with motivated sellers, sell first. The longer you wait the inventory gets picked over and your choices are reduced to boats that may be over priced, don’t show well or boats with issues.
In many markets, new boats sales have been very soft since the market recession in 2008. New boats have not been put into the aging fleet, like they have been in the past. It is very rare to find a boat that is 2-7 years old because of this fact. If you are looking for a pre-owned boat that is less than 10 years old, you better start the process ASAP! If you are looking for a brand new boat that is being built at the factory or in the dealer’s inventory, now is the time to buy! The boat need to be customized, commissioned, calibrated and sea-trialed before they are handed over to you. The earlier you commit to the boat, the quicker the builder and dealer can schedule your delivery. Better to have your new boat delivered in the early spring rather than the late summer.
So how do you get the best boat for you and your family?

Start your relationship with your yacht broker now. Do not wait until the spring. Do your homework, look at boats online and get out there and see them early. The highest amount of inventory is in the late fall and early winter. You may find it challenging to handle the cold and the short days but it will pay off in the end with a great boat.

The winter boat shows are a great place to meet brokers who know the local inventory. Get to know them, interview them and select the one you like best. A good broker will not only know their own inventory of boats but the entire market segment of boats similar to their own, or boats they have sold in the past. Challenge them to give you several boats to consider and vet them through your needs and requirements. If, in the end, they put two or three boats that meet the mark, they have helped you through step #1.

Don’t look at one boat at a time with every broker in the state. Use your own broker, use one car and schedule a day to look at 4-6 boats in one day. It is the most efficient use of time and resources to make progress through finding the boat. You will also have your thoughts fresh in your mind as you go from one boat to the next. Once you find her, it is not over. After all of that, it has just begun! Now you bring in the human element of the sales process. Two opposing forces now need to come together and agree on a deal. Experienced brokers have bought and sold hundreds if not thousands of boat through their selling careers. Make an official offer, with dates, contingencies and a deposit. Without these details, in black and white, there can never be a deal. Good brokers make deals happen. If no deal can be made, because you are doing the deal in the fall or winter, you can continue to look or wait it out and come back to her. Time is on your side, working for you, not against you. This is a huge advantage for the buyer that can only be leveraged in the fall and winter. The closer you get to spring buyers come out in droves, you are now competing with other buyers looking for the same boat you are. There is nothing worse than going through the above, finding the boat you love and discovering that she is Sale Pending!

You have agreed on a deal. The boat is out of the water and buried behind 100 other boats waiting to go in the water in the spring. How do you find out if she is in good condition and her systems work? Major investigation can still be made while she is out of the water by a certified marine surveyor. All of the major structural components, 12V and 110V systems can be tested and turned on at this time. A detailed Decommissioned Systems Escrow Document will protect you and the seller for systems that could not be fully tested. Ask your broker for details on this document and how it has worked protecting buyers and sells of boats in the Northeast and cold climates for years.

Congratulations, you have purchased your next boat! Getting her ready through the offseason makes the winter go by faster, your spring more enjoyable and a summer season on the water. It doesn’t get any better than that!

After a very busy and successful summer Latitude is in search of quality vessels to represent. We have led the Rhode Island industry in total sales volume, marketing, innovation and customer service. We look forward to continuing the tradition as we move forward into the winter boat show season. Consider Latitude as your yacht brokerage company and discover the Latitude difference first hand.

If you are thinking about selling your boat this winter be sure to reach out to us in advance of the winter boat shows so that your boat is in our boat show marketing program. Contact us by replying to this email or call us at 401-560-0007.

Congratulations to all the new owners. We wish you calm winds and following seas!

2001 Hylas 46	2000 Hallberg-Rassy 39
2006 Back Cove 29	1993 Sabre 38

by Matt Leduc

A first-rate boat, priced right, with a motivated seller, always sells first. With procrastination, comes a reduced inventory, and your selection may be limited to boats that can be over-priced, don’t show as well, or have more underlying concerns. Also, many buyers do not want to purchase new boats due to the huge depreciation drop once taking ownership. In many markets, new boat sales have been very soft since the recession in 2008. As a result, these new boats have not been placed into the aging fleet, as they have been in the past. It is very rare to find a high quality, used boat that is 2-7 years old, largely because it was never built. If you are looking for a pre-owned boat that is less than 10 years old, it is wise to find the help you need and begin the process early. So, how do you get the best boat for you and your family?

Build your relationship with your yacht broker now. Do not wait until the spring. Begin your homework, review various boats online, and get out there to see them early. Inventory level is prime in the late fall and early winter. It may be challenging to handle the cold and the shorter days, but it will pay off in the end with the ideal boat.
Winter boat shows are a great place to meet brokers who know the local inventory. Interview them and select the broker you like best. A talented broker will not only be familiar with their own inventory, but will also have knowledge of the entire market segment of available boats. Challenge your broker to offer you several boats to consider, and scrutinize them, informing the broker of your wants, needs and requirements. If, in the end, the broker finds two or three boats that meet the mark, they have assisted you through the first step.

Don’t look at one boat at a time with every broker in the state. Make use of your own broker, and schedule a day to look at 4-6 boats. The details of each will be fresh in your mind as you go from one boat to the next. This is the most efficient use of time and resources to progress towards finding the perfect boat. But, once you find her, it is not yet over. Now, you bring in the human element of the sales process. Through your broker, make an official offer, with dates, contingencies and a deposit. Without these details, in black and white, there can never be a deal. Experienced brokers have assisted in the sale of hundreds, if not thousands, of boats through their careers. Without a doubt, good brokers make deals happen. During the fall months, time is on your side. There is a huge advantage for the buyer that can be leveraged in fall and early winter. If, due to fall or winter weather constraints, a deal cannot be finalized, you may continue to look, or wait it out and come back to her. However, the closer you get to spring, buyers come out in droves and you are now competing with other buyers who are looking at the same inventory of boats. There is nothing worse than going through the entire selection process, finding the boat you love, and discovering that she is Sale Pending!

You have agreed on a deal. The boat is out of the water and hidden behind other boats waiting to go in the water in the spring. How do you find out if she is in good condition and her systems work? Major investigation can still be made while she is out of the water by an accredited marine surveyor. All major structural components, 12V and 110V systems can be tested and turned on at this time. A detailed Decommissioned Systems Escrow Document will protect you and the seller for systems that could not be fully tested. Ask your broker for details on this document and how it has worked for years, protecting buyers and sellers in the Northeast and in cold climates.

Congratulations, the purchase of your much sought after boat is now a reality. All of the holiday presents can now be purchased for her! It makes the winter go by faster, your spring is more enjoyable, and a summer season on the water is guaranteed. It doesn’t get any better than that!

This prestigious event encompasses 13 acres of Newport’s famed waterfront with all makes and models of powerboats and sailboats ranging from 16 ft. to 85 ft. – ready for boarding and review. On the land side, there’s a bountiful array of marine products and services to enhance the boating lifestyle. Domestic and international dealers and manufacturers will be on hand to provide you with valuable information and answers to all your questions. With numerous countries represented – it truly is an international event.

Latitude will be located in Tent D, booth 64. Call 401-560-0007 for directions.

For More Information Visit – www.newportboatshow.com

After a very busy and successful spring Latitude is in search of quality vessels to represent. We have led the Rhode Island industry in total sales volume, marketing, innovation and customer service. We look forward to continuing the tradition as we move forward into the fall boat show season. Consider Latitude as your yacht brokerage company and discover the Latitude difference first hand.

If you are thinking about selling your boat this year be sure to reach out to us in advance of the 45th Newport International Boat Show, running September 17-20 so that your boat is in our boat show marketing program. Contact us by replying to this email or call us at 401-560-0007.

So you’ve been searching for that perfect boat for a while now. You started off looking close to home, seeing what the local harbors have to offer. Next you decide to see what the next state over has for inventory, and before you know it, you are searching half way down the eastern seaboard! You think you have found the one. It has everything you are looking for and more, and the price you can get it for makes it worth the effort. Now, all you need to figure out is how you can get it back to your homeport after closing.

There are a few main considerations when making this decision; expense, time, experience, and wear and tear. For most people, this will come down to expense. Does the fuel expense, marina dockage, plane flights and the cost of bringing crew to assist you outweigh what it would cost to have it transported over land? Always remember to add in a budgetary cushion for the unpredictable because as we all know, if anything is going to happen, it’s going to happen out there! If by overestimating your delivery budget you still think you can undercut the shipping companies quote, then get ready to request some vacation time.

If you have the time to take off a week or two to move your boat from down south up to New England, than it could be the adventurous maiden voyage you were dreaming of. But if things don’t go as planned and mechanical issues or bad weather delays your trip, you could be looking at leaving your boat in an unfamiliar boat yard to be worked on by questionable mechanics only to hope they fix your issue in time for you to come back in a few weeks to give it another shot. If you do decide this is the way you want to go, then there are a few things that you can do to help minimize risk.

Hopefully you have a fresh pre-purchase survey in hand, so of course, address the big things. Engines running smooth? Thru-hulls all work? How about the shaft glands? Probably the number one issue that stops a boat short on a delivery with a new owner is bad fuel issues. There is the probability that the boat has been sitting for a year or more awaiting a new owner to come along and microbial organisms have been growing in your fuel tanks. The boat sea-trialed fine on the nice calm day you went out, but now you are pounding around in some heavy chop and the tanks are getting stirred up. If you are only going a few hundred miles, a box of fuel filters and the knowhow to change them underway should get you home, but if you’re planning a long stretch, inspections of your tanks and a cleaning should be in order. If you are going to be buying a twin engine vessel that will be guzzling down the diesel, then you may want to have the surveyor test the fuel for water and bacterial growth, and also inspect the tanks if able. Did you purchase a sailboat? Most surveyors will only inspect the rigging from deck level. Before you go offshore you should have a professional rigger give a full top to bottom inspection of your rigging to be sure it is up to snuff. This would be another item to be sure is included in the terms of your purchase process before accepting a distant vessel.

An alternative option in getting the boat back to her new home is to hire a delivery captain to move the boat for you. Depending on the size, type, and condition of the boat, and the route and length of the delivery, a qualified captain will cost you anywhere from $250-$500 per day. For additional experienced crew an additional $150 to $250 a day is common. Delivery captains know the routes to take in the various weather conditions, are able to competently sail through the night (with the appropriate crew), and are able to deal with situations, mechanical or otherwise, a new boat owner would not. The ability to log many more miles a day and save you money on things such as where to get the cheap fuel and where to anchor for the night instead of paying dock fees can quickly help pay for their services. Boat brokers and shipyards are usually the best source of information when trying to locate a local captain to trust with your boat.

Hiring a captain to move your boat traditionally has been a very informal affair. However; more recently contracts are being used by captains to clearly lay out responsibilities of boat owners and captains before, during and after the delivery has been completed. What is paid to the crew if there are weather or mechanical delays when the boat is tied to the dock? What is the per diem allowed to the crew for food, travel and other items? These are all things that should be discussed and agreed upon before the boat leaves the dock. To be sure your insurance will cover you in case of an incident, be sure to call your agent and ensure your policy covers waters to be transited and that the captain meets requirements.

If shipping by land, boat dimensions will be the single most limiting factor in where you can go and how much it will cost. For most roads, the vertical height limit from pavement to top of boat will be 13’ 6”. Beam of the boat will determine what route you will need to take. Beams up to 20” are possible if the right road surveys are available, but this may be a roundabout route and end up costing lots of money. The transport companies will be experienced in getting these permits and finding the right route for your particular sized boat.

However you end up bringing your new boat home, it will take some thought and consideration. This will be her first journey under your ownership, but certainly will not be her last.

Tom Miller is a yacht broker with Latitude Yacht Brokerage and holds his 200T USCG and MCA captain’s licenses.  Tom is frequently delivering power and sailboats up and down the eastern seaboard having recently brought a 55’ sailboat from Saint Martin offshore to Newport.  Call Latitude Yacht Brokerage and ask for Tom if you’re looking to buy a boat outside your homeport and need assistance – 401-560-0007, tom@latitudeyacht.com