The yachting industry is abuzz amidst the January report that a South Florida jury issued a $70.6 Million verdict against Island Girl Ltd., a Marshall Islands company that owns the Motor Yacht Endless Summer. Although the circumstances surrounding the case are now widely known throughout the industry, in summary, a crew member onboard Endless Summer was raped by another crew member. The victim sued Island Girl Ltd. for negligence in failing to provide a safe working environment among several other things.
Buying and selling a boat can be more complicated, problematic, and risky than a real estate transaction. Unlike real-estate transactions, only California and Florida cover vessel transactions under state laws. You can eliminate headaches by working with a qualified, reputable yacht sale professional who will help you navigate what could be a complex and difficult transaction. Read more..
Did you know that every state has a Boating Law Administrator, or BLA, that is responsible for helping to develop and shape public policy for recreational boating safety in that state? Collectively, these BLA’s form the National Association of Boating Law Administrators, or NASBLA which you may have heard of. The US Coast Guard is also an integral part of NASBLA and works with the BLA’s to ensure their state’s are following policies and guidelines, using boating grant money appropriately, and know and implement the latest boating safety regulations. NASBLA collectively gets together twice per year.
Owning a large asset, such as a vessel carries certain risks that all owners must navigate. Many boat owners have recognized the value in establishing a Delaware corporate entity to own their vessel, rather than owning it in their name personally. A properly established Delaware corporation or LLC can limit or eliminate your personal liability in the event of an accident or other litigation. Delaware courts have a reputation of reaching reasonable and fair conclusions when construing corporate laws.
FernHouse Embroidery and Design has partnered with CPYB to provide custom embroidered logo apparel and accesories.
All of us at Cruising World and Sailing World are pleased to offer our exclusive 2019 "State of the Sailing Industry" report to YBAA members with our compliments. We produce this annual snapshot of the sailing market as a service to the industry. Our 2019 report presents 2018 data on the charter market, brokerage sales, sailing participation, sailboat imports and domestic production.
The YBAA MLS is a strategic alignment between YATCO, an industry leader in online marketing, YBAA and also other regional Yacht Broker Associations. This relationship gives the ownership of data back to the brokers and provides yacht brokers large and small, a real choice of where to promote its listings online.
Get ready for great networking, valuable education and stimulating conversation - YBAA's 2019 University events are coming this summer
Connecticut spring in-water boat show to benefit sails up 4 cancer announces 2019 show dates.
Washington State approves Yacht Broker Institute (YBI) as an educational provider, prestigious CPYB designation attained by 3 YBI Graduates
Yacht brokers, don’t be afraid to recommend to your Buyer to finance their boat or yacht purchase, as it might work to your benefit. In this financial climate, Cash is King, and financing is a way to keep your buyer’s cash in their pocket and use low interest money to purchase a boat!
The single most important decision a Buyer must make before closing on a yacht is where the yacht will be registered, as the Buyer should understand the benefits and drawbacks of each registry before making this decision. Presently, the most well-known yacht registrations are United States, Marshall Islands, Cayman Islands, St. Vincent and the Grenadines and the British Virgin Islands.
As a new Congress takes the reins in Washington, D.C., your participation in the American Boating Congress is more important than ever. With a strong industry voice, we can and must educate new Members of Congress on the issues impacting your business, today and in the future.
The boating industry has gone through the BIGGEST transformation in the last 15 years. Due to the exponential growth and dominance of the Internet, mobile devices, social media, new technologies, combined with rising customer expectations and changing buying behavior, the rules of sales and marketing have drastically changed across all markets — and boat brokers must adapt or get left behind. 2019 will be a game changing year and here are my top 5 trends and market predictions.
Do I own my boat? A simple answer in 99% of cases. Everyone knows that once closingoccurs, title passes from the Seller to the Buyer. But what happens in those 1%?
Venue Change Announced for the 2019 Sail America Industry Conference, CPYB’s Earn 10 Recertification Credits: Register for Conference Here
Sailing conference to be held March 6-8, 2019 in Horseshoe Bay, Texas.
Yacht Sales Professionals – YSPs (brokers, dealers, salespeople) nationwide have a benchmark for measuring their skills, abilities and performance, while enhancing their marketing value.
This article was recently published in the California Yacht Brokers Association newsletter and is being provided to YBAA courtesy of CYBA.