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OFFERING ASIAN BUYERS ACCESS TO THE WORLWIDE YACHT SECOND HAND MARKET
Even when aware of the effective level of depression of the yacht Market why are potential pre-owned yachts Asian buyers impeded to practically access to this market?…
If you plan to purchase a yacht, you have naturally started by first considering the available offers in Asia and you will have necessarily observed, unless you have been exceptionally lucky, the scarcity of the offering for a specific type of brand, model, age, budget, etc…
This situation arises directly from the still limited first hand market which itself stems from the recent emergence of the yachting in Asia.
Then you may have analyzed the offers in Europe and in US and you may have considered trying, based on some apparent attractive offers, to access to those markets.
Nevertheless potential pre-owned yachts Asian buyers invariably face two highly daunting challenges which impedes them to practically access to those markets:
- Visiting, negotiating and buying a yacht berthed at thousands of miles from the buyer’s home is just the first key challenge to start with.
One should realize that before making a choice on one single yacht and in order to sound the market and play on the competition between sellers in an optimal manner, an average of 20 to 25 boats in the same category/ type / brand wished for, should be visited across the world. From our experience, it is usually necessary to travel in 5 or more different countries, since for a search, the yachts can lay in Croatia, in Greece, in UK (for Europe)…and in Florida or in the lakes of the Michigan (for US). It requires considerable time, effort and knowledge of these different countries / markets.
In each of these countries, there will be different languages, different cultures, different micro markets and then different ways of negotiation.
Indeed this approach requires considerable time and availability which many buyers, already occupied by their own occupations and families simply do not have. But much more important it requires first and foremost a deep knowledge of each of these countries and their related market as any successful negotiation is closely related to the culture, psychologies and customs that are prevalent in each of the various countries.
In addition all guaranties should be taken in respect of the safety of our client’s deposits or any other amount paid by our clients to the broker’s sellers, the certainty of the yacht ownership / freehold by the seller, the impartiality and the choice of the surveyor who will conduct the pre-purchase expertise, etc…The level of extra care and requirements will vary from one country to another.
Without the right knowledge and experience, it is highly daunting & improbable for a private individual acting alone without guidance and expert assistance to successfully and safely seal a deal on those markets.
- Bringing home the yacht which has been selected and purchased in any part of the world is the second key challenge, in view of the complex logistics involved and the significant costs differentials from one provider to another.
As a matter of fact the delivery process consists of a multitude of steps involving most often several different interlocutors for each of them. In the end, it represents an incredible number of contacts, exchanges, administrative tasks, settlements, legal and regulatory formalities which are highly time consuming and require a deep knowledge of the intricacies and the ins and outs of the whole delivery process from beginning to end.
For instance the cost of the shipping itself, which constitutes a substantial part of the total delivery cost, may vary in a ratio from 1 to 3 depending on the appropriateness of the options taken for the transport and the carriers chosen.
For all these reasons it is very unlikely that private non-professional buyers, without a strong professional assistance and support, can successfully take up this second challenge of delivering their yacht home from the other side of the Earth.