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...

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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,...

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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...

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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...

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Boat Registration & Safety

Every engine-equipped Gulet operating in Turkish waters, as well as many other types of boats, must be registered with a Ship Registry. Registration numbers consisting of a four number and home port and a combination of letters and numbers are displayed on the bow. Sea worthiness is usually renewed every year. Boat registration is similar to car registration. Mostly, registration fees pay for the enforcement of navigation and pollution rules. Registration programs also aid in identifying lost or stolen boats. Not always required that boats be...

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Written Warranties

It might not have the appeal of bright chrome and shiny varnish or have the exhilarating kick of a high-horsepower engine, but the manufacturer’s written warranty can make or break the new boat experience faster than a fish-finder can spot a school of blues. Ask the warranty is the manufacturer’s promise to stand behind its products by providing service and repairs after purchase. Since marine warranties vary widely in their coverage, comparison shop before you buy. Look for multi-year warranties for hull structures and engines, as well as...

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Deposits & Trade Ins

Deposits Most brokers and dealers require a 10% cash payment on a used  Gulet but a nominal deposit is enough to get the dealer to write a contract. Often, the deposit is placed in an escrow account, but this is less common with private party sales. The seller may have a right to keep all or a portion of the deposit if the buyer backs out of the deal without cause. As a buyer, you should include as many contingencies as necessary to protect your interests, including satisfactory survey and sea trial, clear title, and ability to obtain financing...

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Need A Lawyer Or Not?

Do you NEED a lawyer to buy a boat? Absolutely not. Whether you use an attorney or not should be weighed against the level of risk and complexity in the transaction. Most boat purchases that do not involve financing also do not involve an attorney. Few yacht brokers will recommend an attorney unless they anticipate a problem. On many occasions, even financed vessel transactions do not involve attorneys. Marine transactions are best compared to...

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Sales Contracts & Deposits

Sales Contracts Whether you buy a brand new Gulet or a used Gulet directly from the owner, outlining the terms of the sale in writing is the best way to protect your interests, since oral agreements are good only as long as both parties agree. If you are dealing with a broker, they usually have a sample contract written with international laws. A written agreement will eliminate or minimize questions and problems that could later turn a sweet deal at the dock into a sour one in court. By spelling out the obligations of buyer and the seller,...

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Financing and Marine Insurance

Financing a new or used Gulet is a fairly straightforward process if you’ve got a good credit history and the 15-25% down payment. You may even want to pre-qualify for a loan before you go boat shopping to give yourself some extra leverage when it comes to negotiating prices with dealers. On a new Gulet, the Manufacturer’s Statement of Origin certifies that it has had no other retail owner. With used boats, lenders check for a clear title or record of ownership. In addition, information about pending liens or unpaid debts may be recorded in the...

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The Cost Of Owning A Gulet

Prices In between May and September is charter season in Turkey and the Gulet owners accept the heights price. There for from October to April is the best time to purchase a Gulet. Make sure that you use recently updated brokerage web sites to compare the prices. If you are interested in new construction, check first 1 or 2 years old ones to have an idea about the costs. Please note that it should b e same size, material, labor and equipment. The profit margin When it comes to bargaining, keep in mind that, although mark-up rates vary according...

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New or Used Gulet

Personal finances are often a key factor in the decision to buy a new or used Gulet. However, other factors should be considered. After-sale service  The retail cost of a new boat includes the cost of providing warranty service. When a used Gulet is sold “as is,” the only thing that’s guaranteed is that the buyer will pay to fix any problem that crops up. Financing New and used Gulet are treated equally in terms of interest rates and down payments. However, expect some extra financing hurdles if you’re buying a boat over 15 years old...

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23rd International Marmaris Race Week - Results

It was the last day of 23rd International Marmaris race week and find below the results. Marmaris International Race Week is underway in one of Turkey’s tourist hotspots. Teams and boats have splitted into eight groups and the many sailors gathered in this popular port town in the Mediterranean coast for the 23rd edition of this exciting event. ...

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23rd International Marmaris Race Week

MIRW (The Marmaris International Race Week) is an annual yachts event that organized by MIYC (The Marmaris International Yacht Club). The Marmaris International Yacht Club was founded in 1992 by the yachtsmen and women of Marmaris. Prior to the formation of the club, these people would hold various amateur races between themselves but once the club was set up, they saw an opportunity to create an official get-together and organised the first...

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24th International Wooden Yachts Regatta

The Bodrum Cup Wooden Sailing Yacht Regatta is an international event which has become a tradition, held every year since 1989. It is an unusual race in that charter yachts participate complete with passengers. The Bodrum Cup is not only a race, but also a marine festival with guests from all over the world. It is also an exhibition, an opportunity to show off the beautiful, locally-built yachts to prospective buyers. It is an event where captains...

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Choosing The Right Broker

There is no shortage of salespeople who would like your business. To a first time Buyer, many of them can be pretty convincing that they have plenty of knowledge and experience. But take note: there are relatively few “career professionals” in the industry. While most salespersons may share a sincere love of yachting, many have nominal “yacht brokerage” sales experience. There are also some with excellent sales skills, who know relatively little about boats and yachts, who can fool you into thinking that they do. Buying a Gulet or a sail yacht...

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Selling Through A Broker

Brokers maintain files of Gulet listings placed by individuals wishing to sell their Gulet. They also have "boat wanted" files for prospective buyers looking for something different. Sometimes brokers share listings through a worldwide network. This can extend the seller's exposure beyond the local market. A broker may be contacted directly by a buyer looking for a specific boat or from another broker who has a customer waiting. Yacht brokers are often overlooked by customers who think their needs are too small and brokers only deal with mega...

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Why Work With a Broker?

The two happiest days in the life of a boater are the day he buys a boat and the day he sells a boat. For some people the buying and selling may be fun, but for others it is frustrating. Those who find it frustrating might want to consider the services of a yacht broker to handle details of the search, marketing and closing of the transaction. Most yacht brokers are independent businesses but some are affiliated with or employed by new boat or yacht dealers. Both buyers and sellers can benefit from the services of a yacht broker whose job is...

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Harbour Formalities

Clearance Yachts flying the ensign of the Republic of Cyprus will be refused entry to Turkish ports. This situation will, presumably, change if/when Turkey becomes a member of the European Union, but at present (2006) this rule is being enforced. On Arrival Any other yacht coming from abroad must fly the Q flag and complete formalities at an official port of entry. On entry, formalities are completed with Harbormaster, Health, Passport Police and Customs in this order. Marinas usually act as one's agent and will both provide the transit log...

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Classification Socities

Classification societies are organizations that establish and apply technical standards in relation to the design, construction and survey of marine related facilities including ships and offshore structures. These standards are issued by the classification society as published rules. A vessel that has been designed and built to the appropriate rules of a society may apply for a Certificate of Classification from that society. The society issues this certificate upon completion of relevant classification surveys. Such a certificate does not imply,...

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Yacht Insurance Part I: Gulet Insurance

No doubt you, like most other boat owners, feel your insurance coverage and the resulting premium is a necessary evil that you can do little to control. While there is some measure of truth in this belief, the fact is you can exercise some control over this cost. • Complete an authorized boating course. • Inspect or have your boat inspected by a qualified marine mechanic at least twice a year. • Repair or replace defective equipment promptly. • Have a well thought out, written plan to carry out in the event of a pending natural disaster. • Always...

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Surveying & Surveyors Part I: General

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...

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General Maintenance Part III: Interiors

More than hull, deck and rigging, the interiors of yachts come with enormous variation: they use different materials depending on how much comfort you want – and can afford, how big your Gulet is and which conditions it was built for. The variety of materials used for Gulet interiors can make maintenance a tricky task; in this article I will try to outline the key steps in caring for your living room. If you have to decide how to equip the interiors of your yacht, you will quickly find out that there is always a trade-off between comfort and...

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General Maintenance Part II: Decks and Rigging

Once you are done looking after the hull of your boat, you might want to move up and check the deck and rigging of it: eventually, this is where you will spend most of your time. This is where the wind gets hold of you and generates the force that will keep you going. This is a part of your Gulet that you should keep in good shape – and the following article should give you some guidance on what to do. As it is always the case is when it comes...

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General Maintenance Part I: Hull

The hull is the part of your boat that keeps you floating and thus quite an important one. Keeping it in good shape is essential for a good sailing experience, and the effort to achieve this depends hugely on the type of Gulet you have. In this article, I outline the different basic maintenance tasks a neat hull requires. In order to estimate the amount of care that will have to be dedicated to the hull, it is useful to think of the different...

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