A podcast designed to educate yacht sellers and yacht buyers, and to share what is happening in the yacht brokerage market. Produced by Current Yachts.
A podcast designed to educate yacht sellers and yacht buyers, and to share what is happening in the yacht brokerage market. Produced by Current Yachts.
In this episode of Full Displacement, Maryline Bossar and Amanda Haley engage with Michelle Terorotua, a customs broker specializing in yachts, to discuss the significant changes in customs regulations and tariffs affecting yacht owners and buyers in 2025 and beyond. The conversation covers the role of customs brokers, the impact of new tariffs on yacht purchases, legal requirements for selling yachts in US waters, and compliance with EPA and Lacey Act regulations. Michelle provides practical advice for buyers and sellers, emphasizing the importance of due diligence and understanding the financial implications of importing yachts. Contacts & Resources: Michelle Terorotua, Compass Logistics & Marine: https://compasslogisticsmarine.com/ American Vessel Documentation Association (AVDA): https://americanvessel.com/ Hire Current Yachts to buy or sell your yacht: https://stage.currentyachts.com/contact
Key Takeaways:
🗺️ A customs broker acts as an intermediary for yacht imports.
💰 2025 has introduced significant tariff changes affecting yacht owners.
🌎 Duty rates for yachts can vary significantly based on origin.
🚤 Import duties apply to both new and used vessels equally.
⚓️ Foreign flagging is a strategy to avoid high import duties.
📑 EPA and Lacey Act compliance is crucial for yacht imports.
📋 Documentation is essential to prove duty payment on yachts.
🔎 Buyers should confirm if a yacht is duty paid before purchase.
🤔 Understanding the financial implications of tariffs is vital for buyers.
🛥️ Due diligence is necessary to avoid last-minute surprises in yacht transactions.
💭 ABOUT CURRENT YACHTS Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
💻 Our modern platform streamlines the listing intake process, and ensures real-time communication and analytics for all parties. Our team is focused on transparent yacht sales and facilitates faster, more efficient transactions. We've set out to build a genuine community that offers exclusive insights and resources, empowering yacht owners and buyers alike. And our podcast Full Displacement is designed to educate yacht sellers and buyers, and to share what is happening in the yacht brokerage market. Discover the Current Yachts difference: professional service without the bloated pricing.
Join us at https://currentyachts.com/
Browse our inventory: https://currentyachts.com/boats/
In this episode of Full Displacement, Maryline Bossar and Amanda Haley discuss with Randall Boiko, a SAMS certified marine surveyor, the intricacies of marine surveys, focusing on pre-purchase surveys. They discuss the importance of boat buyer expectations, pre-purchase marine surveys, what they entail, and how they differ from other types of surveys like insurance surveys. Randall shares insights from his 35 years of experience, including common misconceptions and red flags to watch out for when buying a boat.
Key takeaways:
🔍 A marine survey is essential for understanding a boat's condition before purchase.
🛠️ Pre-purchase surveys focus on identifying issues that may require repair.
✅ Insurance surveys are more about safety checks and liability concerns.
ℹ️ Buyers should not rely solely on surveyors; personal research is crucial.
💰 Survey costs vary by boat size and geographical location.
⚓️ A surveyor's experience can greatly influence the quality of the survey.
🤔 Deferred maintenance is common and should be factored into the purchase decision.
📋 Survey reports include detailed recommendations and inventory lists.
🗣️ Communication with the surveyor is key to understanding the report.
🛥️ Even new boats can have issues that a survey can uncover.
Contacts and Resources: Randall Boiko, Admiralty Services Society of Accredited Marine Surveyors®: https://marinesurvey.org
💭 ABOUT CURRENT YACHTS Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
💻 Our modern platform streamlines the listing intake process, and ensures real-time communication and analytics for all parties. Our team is focused on transparent yacht sales and facilitates faster, more efficient transactions. We've set out to build a genuine community that offers exclusive insights and resources, empowering yacht owners and buyers alike. And our podcast Full Displacement is designed to educate yacht sellers and buyers, and to share what is happening in the yacht brokerage market.
In this episode of Full Displacement, Maryline Bossar, Amanda Haley, and guest Hugo Hanham discuss the intricacies of boat and yacht insurance. They cover essential topics such as the importance of marine insurance, the differences between agreed value and actual cash value policies, and the significance of third-party liability coverage. The conversation also delves into the nuances of hurricane plans, the impact of boat age and charter usage on insurance, and the role of brokers in securing the right coverage. Listeners gain insights into the claims process, the importance of reading policy details, and the factors affecting insurance premiums, as well as what questions to ask of their yacht insurance broker.
Contacts & Resources: 📩 Hugo Hanham-Gross, Hanham Insurance Agency hugo@hanhaminsurance.com | https://www.hanhaminsurance.com 📩 Get in touch with Current Yachts: https://currentyachts.com/contact Download the Yacht Insurance Checklist & Questionnaire: https://currentyachts.com/resources/i...
Key Takeaways:
✍🏼 Boat insurance is not always legally required, but marinas often demand it.
🛥️ Agreed value policies provide more certainty than actual cash value policies.
👩🏻⚖️ Third-party liability is crucial for covering damages to others.
🌪️ Hurricane plans are essential for boats in storm-prone areas.
📅 Older boats may face higher premiums and limited coverage options.
🤔 Brokers play a key role in navigating insurance complexities.
📄 Reading and understanding policy details is vital for boat owners.
💸 Experience and claim history significantly impact insurance rates.
🛟 Pollution and salvage coverage are important considerations.
🏠 Liveaboard status should be disclosed to ensure proper coverage.
💭 ABOUT CURRENT YACHTS Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
Discover the Current Yachts difference: professional service without the bloated pricing. Join us at https://currentyachts.com/
This episode of Full Displacement delves into the intricacies of yacht financing, featuring insights from experts Kim Madigan and Melanie Jolles, from Newcoast Finance. They discuss with Current Yachts' Maryline Bossar and Amanda Haley the importance of early financial planning, the differences between fixed and variable rate loans, and the role of brokers in securing the best financing options. The conversation also covers common misconceptions about yacht loans and the significance of understanding credit requirements and debt-to-income ratios.
Key Takeaways:
⏰ Early financial planning is crucial for yacht buyers.
🏛️ Fixed and variable rate loans offer different benefits.
💰 Brokers can provide access to a wide range of financing options.
🧐 Understanding credit requirements is essential for loan approval.
🧮 Debt-to-income ratio plays a significant role in financing decisions.
📉 Misconceptions about yacht loans can lead to financial pitfalls.
🛥️ Yacht financing is more complex than traditional loans.
💪 A strong credit history can impact loan terms. 👩🏻💼 Brokers help match clients with suitable lenders.
✌🏼Strategic financial planning can enhance yacht ownership experience.
Contacts: Kim Madigan and Melanie Jolles, Newcoast Finance https://www.newcoast.com/Kimberly-Mad... https://www.newcoast.com/Melanie-Jolles
Own Your Dream Yacht! 🧭 Did You Know? You can finance a yacht for up to 20 years! Use the Newcoast Yacht Calculator: https://mmax-my.sharepoint.com/:x:/g/...
💭 ABOUT CURRENT YACHTS
Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
Discover the Current Yachts difference: professional service without the bloated pricing.
Join us at https://currentyachts.com/
In this episode, Patrick Wehrly, CEO and founder of the Wehrly Group, discusses the intricacies of maritime tax planning and yacht ownership. The conversation covers common myths about yacht tax benefits, the importance of proper financial planning, and strategies for maximizing tax efficiency. Patrick shares insights into the challenges and opportunities in the yachting industry, emphasizing the need for accurate information and professional guidance.
Key Takeaways:
🔎 Yacht ownership requires careful financial planning and understanding of tax implications.
🚫 Many myths exist about yacht tax benefits, often leading to misinformation.
📚 Patrick Wehrly emphasizes the importance of professional guidance in maritime tax planning.
📉 Bonus depreciation offers significant tax advantages for yacht owners.
📄 Proper documentation and business planning are crucial for tax efficiency.
🛥️ Yacht ownership can be a lifestyle investment rather than a financial one.
🏠 Understanding the difference between depreciation of yachts and real estate is essential.
🔻 Exit strategies should be considered from the beginning of yacht ownership.
🤝 Collaboration with financial advisors and brokers is key to successful yacht ownership.
⚓️ The yachting industry offers both challenges and opportunities for investors.
Contacts: The Wehrly Group: https://thewehrlygroup.com/ Learn more about buying a yacht in charter: https://currentyachts.com/buy/buy-a-y...
Contact Current Yachts: https://currentyachts.com/contact
💭 ABOUT CURRENT YACHTS
Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
Discover the Current Yachts difference: professional service without the bloated pricing.
Join us at https://currentyachts.com/
Welcome to Full Displacement, a podcast produced by Current Yachts. We're here to educate yacht sellers and buyers, and to share what is happening in the yacht brokerage market. In this episode of Maryline Bossar, Amanda Haley, and Sam Durso discuss the intricacies of yacht brokerage, the importance of buyer representation, and the evolving landscape of the industry. They explore the challenges of selling yachts, the significance of professional listings, and the benefits of a service-based model over traditional commission structures. The conversation also touches on the parallels between yacht sales and real estate, emphasizing the need for transparency and education in the market.
Key Takeaways:
🛎️ Yacht brokerage is shifting towards a service-based model.
🖥️ Professional listings significantly impact yacht sales.
✍🏼 Buyer representation agreements protect buyers' interests.
🔎 Transparency is crucial in yacht sales.
🏫 The yacht industry is far less regulated than real estate. 💰 Holding costs should be carefully considered when pricing yachts.
🤝 Co-brokerage terms are a critical strategy in yacht sales.
❤️🩹 Emotional attachment can lead to pricing mistakes.
😵💫 The yacht market is becoming more fragmented.
🎓 Education is key for both buyers and sellers.
Resources Quoted in the Episode:
Current Yacht's Seller Calculator: https://currentyachts.com/sell/calcul...
Prelude Leopard 46 Power Catamaran listing: https://currentyachts.com/boats/2024-...
IYBA Code of Ethics: https://iyba.org/bylaws (Article XV)
💭 ABOUT CURRENT YACHTS
Current Yachts revolutionizes yacht sales by offering a transparent, service-based pricing model that puts the consumer first. How?
1️⃣ We replace traditional high commissions in yacht brokerage with flat-rate selling expenses, and the buyer-side commission (co-brokerage) only gets paid when a co-broker is present -- saving our sellers money.
2️⃣ We are a full service yacht brokerage company with licensed and bonded professional brokers assisting yacht sellers and buyers every step of the way.
3️⃣ Current Yachts is also the first yacht brokerage company to offer a buyer representation agreement.
Discover the Current Yachts difference: professional service without the bloated pricing.
Join us at https://currentyachts.com/