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

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.

a 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.