The New Generation


The New Generation


The New Generation

Jasmin Forever

The New Generation

Dolce Mare

The New Generation

Monday, December 24, 2012

Selecting A Right Broker

Once you decide you are ready to sell, your next decision is most important: With whom will you list your Gulet? The wrong decision will likely cost you time and money! Let me offer some important points to consider:

Don't choose a broker who will be learning their trade at your expense. Choose someone with plenty of experience! Unlike many brokers who are not boaters themselves. Buying or selling a boat can have its frustrating moments. Why not have someone representing you who has been through the process over 100 times?

In order to make all this effort on your behalf, a good professional broker will provide you fallowing services; The brokerage fee is the standard ten percent. Broker services will include:

1. Comparable market analysis of current, similar listings, book values, and actual closed "comp" sales, to estimate the fair market value.
2. A personal inspection to determine what detailing or maintenance would be "cost-effective" prior to actively marketing the boat. As they say, "You never get a second chance to make a good first impression".
3. Personally farming out the detailing or maintenance, if required. They use the right people to get the most value for your money.
4. Preparing a detailed specification sheet, subject to your approval, including 10 to 50 photos of the boat.
5. Sending out a broadcast email announcement featuring your Gulet to the most active brokerages.
6. Featuring your Gulet in advertising as previously discussed.
7. When negotiations are underway, communication ability is critical. They should be reachable 24 hours a day via cell/voice mail, home/office, etc.
8. Negotiation of an acceptable sales price and terms.
9. With your permission, a pre-sea trial will be conducted, if practical, to preclude any unpleasant surprises during the actual demonstration to the buyer.
10. Advise you on fair negotiation of survey recommendations, which almost always come up. Many Gulet deals fall out during survey!
11. Handling of survey repairs, title search, bills of sale, loan payoffs, insurance, offshore delivery, and closing paperwork, etc.
12. Assisting you with the acquisition of your next boat, if you so desire.

Should You Sell It Yoruself

Broker commissions on used Gulets are typically 10%, a good incentive for selling a boat yourself.
Selling it yourself has drawbacks, however. You will be responsible for keeping the boat in selling condition. And, since most boat shopping occurs on weekends, expect to be tied down during your time off. Finally, like many others, you may simply dislike negotiating. Boat/yacht brokers lighten the seller’s burden by handling some of the paperwork, they know how to find buyers and they advertise on a regular basis.
If you decide to use a broker, check references from past customers. In Turkey, not required any form of boat broker licensing. It’s best to keep agreements short-term in case the broker isn’t successful. Ask for frequent progress reports. Remember, like a realtor, a Gulet broker represents the seller’s interest, not the buyer’s.

Brokerage agreements may take any one of the following three forms:
An open listing, in which the owner can sell the boat himself (commission-free) while listing the boat with a number of brokers.
An exclusive listing, which is given to a single broker who can earn a commission even if the owner sells the boat.
A central listing, which splits the commission between the listing broker and a broker who actual manages the sale.

Multiple listing services are another option but these computerized selling outfits don’t give guarantees and they won’t tell you how many buyers have made inquiries.

Monday, December 10, 2012

Why Need A Surveyor

Buying any boat is a big decision and is probably the second biggest personal outlay you will ever make. It's a major decision, and bluntly, when buying a used boat YOU'RE ON YOUR OWN.

When buying a used boat there are no warranties or guarantees. How do you know...

That the boat is even what the advert states?
That the boat is fit for the purpose?
That the boat is undamaged?
That the boat is safe, sound or seaworthy?
That the engines are serviceable?
That the rig is safe?
That the boat will provide good service without huge repair costs?
That your investment is justified; are you paying too much, or too little?

If there are problems your only recourse is pursuit of the vendor through the courts; which can be along and costly procedure with unknown results. Almost everyone you will deal with in choosing and selecting your boat will be working for the vendor. Brokers, advertisers, agents, agencies are all paid buy the vendor. If you use a broker make sure they are professional, sea recognized form of contract.

Who Can Help? You need a Surveyor. 

Your surveyor is your professional.
Your surveyor is on your side.
Your surveyor works for you.
Your surveyor cares about your boating safety.
Your surveyor protects your investment and risk.
Your surveyor enables you to make an informed decision.

You need a professional surveyor experienced in the type of boat you are considering.  A good surveyor will help and advise you on suitability and what to look for, he will play devils advocate in your decision purchase. He is your only guarantee and back up.

How do I find a good Surveyor?

Surveyors can be found in the advertising in the yachting press, at the professional association's web sites, broker's lists. Ask around in the yard, yacht club or marina for a personal recommendation.

Alarmingly there is no legislation, qualification or requisite standard to set up as a yacht surveyor. In the Turkey look for a surveyor who is a member of an established and tangible, professional body. This ensures that the surveyor is fully accredited, scrutinized, and follows a recognized code of practice.

Points to Check, and Questions to ask, when selecting a Surveyor.

Membership of Professional Association.
Qualification, Experience, or Accreditation.
Level of Professional Indemnity. Cover for you.
Third Party Insurance. Cover for the boat/vendor.
Specialty and or Experience in the type of craft.
Fees. Compare Quotes - beware too cheap.
Does the surveyor offer formal terms of business and survey instruction form?

Ask for a sample survey; see what you might get for your money, and a reference from a previous client. The Surveyor should be flexible to suit your needs or any special requirements and should explain and discuss the types and benefits of different surveys. The surveyor should be receptive to your enquiries, positive, helpful, willing and enthusiastic never casual or dismissive. Remember he is working for you.

The Survey

If at all possible attend the survey, after all it's your survey. Ask questions and talk to your surveyor, but don't stop him doing his job. The surveyor should explain what he is looking at and why and what it means. This is invaluable when you need to understand and quantify a technical report.

After the Survey

Digest your report, make notes and discuss it with your surveyor. Ask questions. It is important to understand the findings and implications of the survey report and the advice of your surveyor. You will get more meaningful information from a frank discussion than a report. If you are satisfied that you can make an informed decision, renegotiate buy the boat, or pull out.

Remember that your surveyor should still be available for help or advice on an ongoing basis.

Surveys & Sea Trials

Care should be taken when choosing a Marine Surveyor, the industry is unregulated meaning any individual can set themselves up and call themselves a Marine Surveyor.

There are two internationally recognized British based organizations that represent surveyors. The International Institute of Marine Surveying (IIMS) and The Yacht Designers and Surveyors Association (YDSA). All surveyors are vetted before they can join either of these organizations and to keep their membership both organizations have systems which ensure continuous professional development. Any legitimate practicing surveyor would be expected to be a member of some form of surveying organization. Before you choose any surveyor please check their credentials.

The buyer’s best friend when it comes to inspecting and evaluating the condition and seaworthiness of a boat is a competent marine surveyor well versed in boat construction, as well as safety and manufacturing laws, requirements and practices.

Hire your own surveyor to be sure the inspection is done with your interests in mind.  Don’t use a surveyor recommended by the seller or rely upon a survey report provided by the owner. It could pre-date existing conditions that need repair or gloss over problems that are expensive to fix, even downright dangerous.

Gulets should be surveyed both in and out of the water. Haul-out and other fees are at the buyer’s expense. Engines should also be inspected by an independent marine mechanic.

Follow up the survey inspection with a sea trial to see how the boat handles underway. Are there performance problems that make the boat unstable? Does all the gear work properly? All electronic equipment should be tested for accuracy.

Surveys and sea trials that turn up flaws or problems can either allow you to back out of the contract without penalty or can be used to renegotiate the purchase price of the boat.

Impartial Advise

There are internationally recognized independent surveyors and experts in Turkey who can assess the condition and suitability of the Gulet for its intended purpose. The marine surveyors exist on their expertise and independence. They all have personal experience of the majority of boatyards and repair facilities in Turkey and understand the Gulet charter business.

Gulet Condition

Gulets come in all manner of shapes and designs! Though some have been built and equipped to withstand the rigors of an ocean crossing, the majority have been constructed for coastal cruising.