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/
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