Boat Buying: What Your Yacht Broker Knows – But You Might Not

1990 Regency 40

Feb 23, 2023


a 1990 Regency 40

As spring approaches, the market starts to heat up, and as you are starting to search for that perfect boat, you might want to be aware of what a Yacht Broker can bring to the table.

More intel

Perhaps most importantly, yacht brokers have access to a lot of information that a buyer may not. The biggest used boat site – Yacht World – uses a back door web site called Boat Wizard. This site is only for paying subscribers to the Yacht World platform, and most professional yacht brokers subscribe. This site allows the broker to analyze the market and give a potential buyer helpful data that they are not able to access themselves such as: sold boat information, listing status, history on the listing, number of inquiries on each listing and much more.

Hanse 470ea 2009 Hanse 470e

 

Soft costs

Keep in mind the “soft costs” associated with a boat purchase that a professional broker can help you navigate successfully. These include:

1- Duty – is it applicable and why?
2- HST or PST – how it is applied and what’s the difference?
3- Survey costs and travel expenses
4- Transportation and yard costs
5- Lien and title checks

There are other issues that are involved in a boat purchase that many buyers may be unaware of:

1- Which marina will accept your boat if only a launch is needed?
2- Who is going to be able to provide the necessary services to commission the boat?
3- Is a Customs Broker needed to facilitate the import of a boat into (or export out of) Canada?
4- The documentation process once a buyer takes possession of a boat. Does the boat need to be federally registered, or would a pleasure craft license suffice? What is the difference between the two, and how does a buyer obtain such paperwork?

At our brokerage we specialize in helping you navigate through the process to help make the buying of your next boat a smooth and fairly painless process!

Pat Sturgeon

Pat Sturgeon Yachts, Mississauga ON

In 1984 Pat started with John Burn Yachts in Bronte as a commissioned salesman selling brokerage. In 1985 Pat, with a partner, bought out John Burn Yachts and continued to sell brokerage, forming Pat Sturgeon Yachts on his own in April 1986.


Pat is a Certified Professional Yacht Broker and was instrumental in the formation in 2005 of Boating Ontario Dealers. Pat headed up the alliance between Boating Ontario Dealers and the CAC (Certification Advisory Committee for the CPYB) of which he is currently the chair. Pat has also been an active board member for Boating Ontario Dealers from its inception.

Related Articles

Video Gallery

RANGER TUGS R-27

By Andy Adams

Ranger Tugs have been around since 1958 and they have developed a great formula: one boat, one price. Almost everything is included, and there is literally a fan club of owners who share stories, information and who set up events and rendezvous with other Ranger Tugs owners. www.Tugnuts.com is a community hub for owners of Ranger Tugs, Cutwater Boats and Solara Boats, all made by Fluid Motion!

Tugnuts.com is quite a unique resource. The online forum has quick links to a chat, info about cruises & gatherings, a channel to ask questions of the Ranger Tugs Factory, Ranger Tugs Technical Discussions, “How to” videos and more.

Read More

Destinations

Sailing into the Future at Antigua Sailing Week

By Mathew Channer

“Standby tack,” Canadian sailor Katy Campbell orders. The crew scrambles over the sheet lines and braces on the deck.

“Three, two, one, tack!”

I wait until the bow turns into the wind and the headsail snaps over, then crawl over the cabin top of Panacea X to the now windward side. The trim team smoothly sheets on the headsail and a competitor vessel shoots past our stern, feet away, as our Solana 45 beats eastward along Antigua’s south coast.

Read More

Lifestyle