An old story most of us have heard is the tale about the mechanic who charges what seems to be an exorbitant fee for merely turning a bolt on a broken machine, although it fixed the machine perfectly. The mechanic called the retired designer of the machine at home on a Sunday afternoon to confirm his diagnosis. When questioned about the apparently high fee, he told his client, “The charge was ten dollars to turn the bolt. The rest of the fee was for knowing who to call and which bolt to turn.”
It’s a good idea to remember this story when choosing a yacht broker either to market your current yacht, assist you in finding a satisfactory pre-owned vessel or helping you design and build a new vessel. If the broker you choose to help you doesn’t have the knowledge and relationships necessary to make the transaction work properly, you’re going to feel like the owner with the broken machine.
On the other hand, if you choose the right yacht broker - the one with the right knowledge and relationships - you’re going to feel like the owner with the machine working perfectly.
As a yacht broker with more than 25 years experience and participation in the sale, purchase and construction of more than four hundred yachts, as well as being a yacht owner myself, the following articles are how I would suggest you choose a yacht broker with the right knowledge and relationships to help you either buy, sell or build a yacht.
While we look at the type of information and relationships your chosen broker should have, let’s also review the positions in the yacht purchase or sale transaction you can expect to utilize your broker’s knowledge and expertise.
The three most common scenarios when a yacht broker’s knowledge can be of great value for a client are: 1) representing a client when selling his existing vessel, 2) representing a client who wants to purchase a pre-owned vessel and 3) representing a client who wants to build a new vessel.