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...
Maritime Ownership
Yacht sales are up for the third year in a row
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...
U.S. and others seize oligarchs’ yachts
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...
Will global unrest negatively impact yacht sales?
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...
Is your yacht vulnerable to cyberattacks?
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...
Identifying and avoiding common yacht transaction mistakes
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...
How federal and state lemon laws can help you with a defective watercraft
A yacht, sailboat or other recreational sea vessel is a considerable investment. As such, you expect the manufacturer to put top-notch craftmanship and care into the construction of your vessel. It can be infuriating to have to deal with malfunctions, defects and...
3 essential elements in employment contracts for yacht crews
The owners of large yachts and mega yachts often have had significant experience with numerous types of organizational contracts. From operational guidelines to restrictive covenants, business owners and managers alike must be familiar with drafting and enforcing...
How much does it cost to maintain a yacht?
Anyone interested in purchasing a yacht should consider the operating expenses the luxury item will incur over its lifespan. If you are considering taking the leap into the yachting life, you will need to plan a yearly budget that will account for: Fuel: Your yacht...
Sale of yachts in foreign trade zones
Buyers and sellers of yachts in the U.S. are taking advantage of favorable laws that have ushered in the establishment of foreign trade zones (FTZs). In years past, if a buyer in the U.S. wanted to purchase a foreign-flagged yacht, he or she would have to pay hefty...