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

Financing Your New Boat

Financing Your New Boat

2012 is the Year of The Boat Buying Trifecta: Low Interest Rates – High Canadian Dollar – Low Global Boat Prices. We think that the 2012 will be the year of the boat buying trifecta; we have record low interest rates, a high Canadian dollar, and low global boat prices making the yacht of your dreams more affordable and closer to reality than we ever remember before. With rapidly escalating numbers of Canadians reaching retirement age, many of whom are already smart enough to have realized this opportunity, the Canadian boat market is alive and well while markets in most other countries are stagnant or down.

Video Gallery

Sea Ray Launches the New SDX 250 and SDX 250 Surf

Sea Ray is expanding its next-generation SDX lineup with two new models. The dynamic SDX 250 and SDX 250 Surf blend quality, functionality and capability to provide limitless fun. Available in sterndrive and surf configurations, the vessels feature powerful propulsion, abundant storage, optimized seating and premium amenities to suit any aquatic activity. Whether entertaining or wakesurfing, the versatile SDX 250 is well-equipped with plenty of room for full days on the water with family and friends.

Read More

Destinations

Dockside Dining: Frind Winery

I’m a boater – I always take friends and visitors to Frind when we’re on the boat.

Frind Winery is the perfect place for boaters to go for lunch or dinner in the Kelowna area.  You can tie up on the dock or beach your pontoon on the spacious beach. 

Frind has an Italian style brick pizza oven for gourmet pizzas and a great selection of other menu items.  You can eat on the patio, at a picnic table, on the beach, or on the lawn. You can also get your order to go and enjoy your meal out on the lake. 

Read More

Lifestyle