Catamaran Guru was always just a very small, personalized boutique brokerage company, only selling the pre-owned boats of our existing clients. Our focus has primarily been on selling new catamarans and charter programs and we are now one of the biggest organizations, specializing in crewed yachts for owner operators and crewed yacht businesses.
In the last two years that has changed significantly, and our brokerage side has grown exponentially and we are now one of go-to brokerage houses in Florida.
Boating Industry is on fire
We all know that the boating industry is on fire ever since COVID hit. Remote working and online schools have set new standards and changed behaviour previously deemed ingrained for “normal” society. This has set so many people free and that means more buyers are looking to change their lifestyles and buy their dream boat now rather than wait. We also see our clients who usually charter yachts are making the jump to ownership and traveling the world.
Living and working aboard has been something that we have done for thirty years ourselves and is something that we’ve been advocating people should do for years! People therefore have flocked to us to find out how, where and when to do this and we have never been busier. Our team is scrambling to find good quality boats for our buyers all over the world!
The National Marine Manufacturers Association reports that total boat sales were up by 13% from 2019 to 2020. They recorded about 318,000 boats sold throughout the year and sailboat sales increased by 17%, with more than 5,600 units sold. These numbers are the highest since before the 2008 recession.
NOW IS THE TIME TO SELL!
It is definitely a seller’s market and prices of boats are soaring and boat owners fetch unprecedented prices for used catamarans. Inventory of good boats is therefor diminishing drastically. We often have two, three or more backup offers for the same boat.
If you are ready to sell, this may be the best time ever to sell your yacht! Inventory is extremely low and we have buyers ready to purchase. Read our guide to selling a catamaran or contact us for a FREE BOAT VALUATION and let us assist you by facilitating the sale of your catamaran to a sailor in our community!
Many sellers assume that when you find a buyer, the battle is won. But that is only the beginning of a long and often complex process. Carrying the sale to completion successfully takes some artful negotiation, coordinating surveyors, finance, insurance and possibly refitting services. We assist you with documentation, taxes, title search and reduce your risks of losing the sale. We are very good at what we do and we will work hard to protect your interest. Learn more and contact us today!
buyers BEWARE OF the PITFALLS!
We highly recommend for buyers to go into a purchase with an experienced broker on their side. Our team has sold a record number of boats this year and have managed to help our buyers and sellers alike, through the often-complicated process. There are many possible pitfalls in a purchase, like how to deal with taxes and legal issues outside of the US, general local and state taxes, yacht sales contracts and documentation, insurance pitfalls, mortgage and finance approvals, delivery and refurbishment of the vessel etc.
The purchase of a cruising catamaran is a big investment for any buyer. So, it makes sense to choose the very best representation. Both buyers and sellers want to know that they have a team of professionals that are acting entirely in their interests.
Catamaran buying and boat ownership should be a pleasure, not a nightmarish experience. Your yacht broker should be able to consult, advise, and educate you, not pressure you to buy. You should feel like a valued client and insist on superior service and if that means not buying a boat, so be it.
Here are some issues that buyers face now:
- Sellers most often get full asking price and will accept no conditions for acceptance. This is great for the seller but not so fantastic for the buyer. Be prepared to walk away if there are issues.
- Buyers now pay virtually the same prices for a used sailboat as the original owner paid for the new boat including full warranties
- Buyers are often forced to accept defects that should be the responsibility of the seller to fix or resolve before the closing in “normal” times or lose the boat
- Buyers close much faster and without a proper inspection and analyses of issues. Do not be rushed into closing! Insist on sufficient time before acceptance.
- More seller’s brokers now decline to have a buyer’s brokers involved, thus depriving the buyer of good, experienced representation. This again, is bad for the buyer, so insist on having your own representation and a broker who will exclusively act in your interest.
- Insurance premiums are high and difficult to get because so many buyers are inexperienced or the boat will be in the hurricane belt. Insurance can be reduced by declaring a different cruising location for different parts of the year and it can be further reduced by an experienced crew, so we often organize instruction as part of the deal.
This from our client Frank, who bought their second boat from us recently: “We heeded your advice and this time we finally learned our lesson. We now know that we want to sail, not fix our boat in exotic places. We remember you saying several times: “all boats cost the same” – and boy, did those words ring true for us”.
When we bought our previous boat, we had a budget for how much we wanted to spend on the initial purchase, and we spent the entire amount on that “dream boat” – it was a steal, or so we thought! While you warned us several times about the downside of purchasing the “big boat” rather than the “best boat”, we really thought that we could handle the projects needed to make it the perfect cruising boat. I am a handy guy and we figured that we could do some projects and upgrades as we go.
Trouble is, the projects were much bigger, took longer and cost more than we ever imagined. We spent 80% of our time fixing and upgrading things on the boat to make it into the boat we wanted. We often had to delay or cancel trips because of delays due to unforeseen issues. We were to the point of being discouraged and giving up sailing all together.
This from our client Frank, who bought their second boat from us recently: “We heeded your advice and this time we finally learned our lesson. We now know that we want to sail, not fix our boat in exotic places. We remember you saying several times: “all boats cost the same” – and boy, did those words ring true for us”.BEFORE YOU GO CATAMARAN SHOPPING
- Make sure that you know what you want.
- Do your research and be realistic about your expectations.
- Decide what kind of boat will suit your needs, make a list of the equipment and features on the boat that are most important to you.
- Decide on a budget and most importantly, make sure that you know how you will pay for the boat.
- Where do you plan to keep your yacht?
- Are you going to run the boat yourself or will you charter?
- How much does it cost to maintain your boat?
- Choose your yacht broker wisely. Brokers come free to the buyer, so find a knowledgeable yacht broker who knows the product, understands the industry, and can advise on ALL components of the transaction.
Sampling of recently sold boats
We are very proud of our team, not only for the successful year of sales but that they are continuing our reputation as caring, hands-on and knowledgeable brokers. These catamarans below are a small sampling of the catamarans and powercats recently sold by the Catamaran Guru team. As is evident in these listings, the boats are all good quality listings from boat owners that we have had a long relationship with over many years.
SEE WHAT OUR CLIENTS HAVE TO SAY!
Here are some snippets of what our clients (now friends) have to say...We take pride in the community of sailors we have helped on their way to their dream life onboard!
Kate and Clay Burke, The Bitty Rose (2018 Lagoon 450F)
…we stepped into the Catamaran Guru office and were met with wisdom from Cynthia, Stephen, and Estelle. It really felt like we had a great broker on our side, plus the support of a team deeply entrenched in all things sailing and catamarans… Read full testimonial here
Lyle & Mary Westerfield -2017 Fountaine Pajot Lucia 40
“We reached out to Catamaran Guru, Estelle personally answered our email and questions within hours and put us in touch with Terry Singh… In this market he had already told us we would need to move fast and move fast we did. The perfect boat for us became available and and sight unseen we made an offer. This was a tough decision, but Terry stayed close by our side every step of the way.” Read more
The Ptaks’ Cross International Registration
“We contacted CatGuru and met up with our brokers Dave King and Ian Martin….the boat being in Sint Maarten, we would not have bought the boat without all the advice and help that Ian obviously enjoyed giving us…We don’t know how we would have managed without his expertise. That man KNOWS boats, especially catamarans!” Read more
