62' Raised Pilothouse Motoryacht

Maintain Your Vessel To Seal The Deal By Grant Henderson The Miami International Boat Show and the recent 25th annual Palm Beach International Boat Show are behind us and spring is in full swing.  The Palm Beach Show (March 25-28th)  has consistently been one of the top ten shows in the country and featured over $350 million worth of boats, yachts and accessories from the world’s leading marine manufactures.   Ocean Alexander had a strong presence at the show with the featuring of the new 62’ Raised Pilothouse Motoryacht, the 68’ Motoryacht 2010, 74’ Motoryacht 2009 and the 60’ Trawler 2010, along with some terrific brokerage and used boats as well. As we progress through the show circuit, things in the yachting industry have definitely started to pick up again.  Just recently I was working with a buyer, and we put a contract on a 55’ Azimut.  As usual, before the survey I asked the seller’s broker to have his captain go through the boat and troubleshoot every problem they could before we got the surveyors on board.  The boat looked great and the buyer was very excited about his potential purchase.  However, as the surveyors started to get deep into the guts of the boat, they began to find a significant amount of smaller issues.  The more hatches and bilges they got into, the more problems arose.  After the survey was finally completed, there was a laundry list of deficiencies.  There was not anything that was terribly major or expensive, but an overwhelming amount of smaller issues  Unfortunately, the buyer wanted something that was turn-key, and before the survey, the boat appeared to be so.  But because there were so many smaller issues that would at some point have to be addressed, the buyer rejected the vessel, requested his deposit back and the deal fell apart. Once again, it all came down to the lack of maintenance performed on the vessel.  The captain in charge of the boat was keeping the boat clean, but just on the surface.  Once you got into the belly of the boat, everything concerning maintenance was simply glossed-over.  Nine months of that type of care led to many issues on the boat and an eventual failure upon survey/sea-trial. Clearly, the captain was not doing his job, and as a result, the seller lost the deal.  The seller’s broker should have played more of an integral part in making sure the boat was being properly maintained.  I have stressed in previous issues the importance of maintenance, and not just a weekly cleaning and wipe down, but the call for a full exercising of all systems on a boat is a necessity.  Make sure you are getting into the bilge and engine space of the boat and checking for corrosion, leaks and problems and addressing them immediately.  When it comes to purchasing a boat, like in this case, it is not always large issues on a boat that can kill a deal but simply a long list of smaller issues.  Make sure your broker is working directly with your captain and maintenance company to ensure your boat will perform as expected when it comes to a possible transaction.   Remember, overuse of a boat is better than underuse. Always keep in mind that purchasing or selling a boat should be an enjoyable experience!  As stated before, have trust in your broker.  Have fun and happy and safe boating! Keep it between the channel markers!