The pandemic fueled a frantic yacht-buying spree for people wanting to get a little distance between themselves and possible COVID infections. Now that the pandemic is cooling, a buyer’s market is flourishing. Here’s why: Buyer’s remorse A full-time boating lifestyle...
Buying your first yacht is a veritable tornado of emotions, ranging from excitement (“We’re going to have so much fun!”) to shock (“Maintenance costs how much?”). Whether you’re buying an existing yacht or having one built, this is a complex transaction with many...
The yacht world is certainly buzzing lately. There are the seizures of boats owned by Russians with ties to Vladimir Putin and the war in Ukraine. Other big-picture issues include supply chain issues for parts and new add-ons. And, of course, the stories about...
Transactional markets experience booms and lulls on different cycles. Numerous factors such as inflation, buyer-versus-seller strength and on-hand inventory can dramatically influence these periods. Fortunately, when it is time to sell your yacht, there are several...
Pictures of massive yachts owned by billionaires, oligarchs and royalty are often splashed across the pages of Yachting Magazine and other publications celebrating the lifestyles of the super-rich, but millionaires are not getting left out. A recent Wall Street...
We recently wrote about how the war in Ukraine may hurt yacht sales. Now, it appears that U.S. federal government and others are going after Russian oligarchs who already own them. The U.S. authorities are freezing all assets in the U.S. and prohibiting U.S. companies...
As global tensions rise, the owners of superyachts and those seeking to complete a transaction feel a tightening grip of uncertainty. Faced with heightened scrutiny, rising costs and unprecedented labor unrest, those wishing to purchase or sell a yacht find additional...
Canada's luxury boat industry is bracing for the impact of a proposed luxury tax that legislators plan to implement in 2022. The tax would apply to luxury items such as passenger vehicles and private airplanes, but it is the inclusion of yachts and other luxury...
Pirates have always posed a threat to seafaring vessels, but the 21st Century version of the maritime criminal has a whole new set of tools at his disposal. Yacht owners should be aware of the threat of cyberattacks by nefarious actors seeking to steal, extort and...
The purchase or sale of a yacht can be a complicated, exciting experience. These large transactions often represent years of planning and meticulous preparation. When facing the prospect of finalizing the transaction, however, it is not uncommon for an individual to...
