Wednesday, October 18, 2017

All that Glitters Isn't Gold!



It is that time of year again when the marine listings swell in anticipation of the Winter Selling season.  Almost like the swallows returning to Capistrano, boats in the Northern half of the United States are en route to their Winter berths.  Coinciding with this return to their Winter Storage, many owners make the decision to put the boats on the market after a year of boating is complete, many use the end of the season as the natural breaking point to decide to upgrade or move on to something new.    

Complicating the Winter brokerage season this year more than others is the fact that we have two major hurricanes that have displaced and in some cases destroyed some of the boats in the Southern part of the country.   With damages estimated to be in the deep seven figures, you can be sure that insurance companies will be looking to sell the salvaged vessels on the secondary market to recoup some of their monetary loss.  Regulations on disclosure vary from state to state, but tradesman and investors looking to turn a profit will often buy some of these boats- recondition them and place them on the market for resale.  There is nothing illegal in this at all so long as it is disclosed, but the varied definition of a reconditioned boat means that there will be boats on the market that might slip through the proverbial cracks.  There is a broad discrepancy from state to state on what needs to be disclosed.   Unlike the auto industry which tracks the national titling of automobiles from state to state, there is no central entity that does that for marine vessels.   The United States vessel documentation center a division of the department of homeland security showed that approximately 11.86M boats were registered in 2016 out of the total of 15.8M boats in use (about 75%).  The balance of those boats are registered by state entities which provides a wide gap for boats that might not have the proper designation of having been totaled as an insurance loss or reconditioned.   That might will mean that that 'deal' that appears to be too good to bee true- might actually be so.    

Now more than ever, it will be important to engage in a qualified marine professional certified by the Association of Yacht Sales Professionals (YBBA) to help you find your next boat or to sell your current boat.  Much like there has been after Hurrican Sandy and Katrina- the deals will flood the market and cloud the potential pools of safe boats. 

Karma Yacht Sales is a YBAA broker and can help with all aspects of your boat search or sale.   Call us to find out what we can do for you. 773-254-0200



To learn more Read: Florida Keys News-Agency recovers 762 Florida Keys boats and counting


For More Information Ask Karma Yacht Sales by email  or call 1-773-254-0200

Friday, August 18, 2017

Spiders on the boat- Tips for getting rid of them and keeping them away.



If you are like us, the past four weeks have been a constant battle to keep the collection of eight-legged friends from taking over your boat.  Many of our concierge clients have asked:  "What can you do to get rid of them?"   
In the delicate ecosphere that is a boat, Spiders are opportunists and seem to multiply by the thousands in dry weather (like we have had as of the last 50 days). The rain spells that we had in July helped the mayfly population explode as well ,which is a natural treat for many of the common boat spiders (aka barn spiders). Enclosed are tips from our experience of owning and caring for boats. 

1. Prevention

While there are many commercially available sprays that will help you part with your money in $8-10 increments, the best method is prevention- That usually starts in the off-season.  

We like the mothball method combined with the dryer sheet method.  Place mothballs in compartments around the boat when you store for the winter.  Take a few plastic containers with lids (like the kind chinese take-out come in) filled with mothballs in various areas.  The lids come in handy to curtail the smell of the mothballs once you want to use the boat .  

The dryer sheets in various cabin lockers work wonders too.  For some odd reason, our arachnid friends dislike the scent of both of these and won't go near them.

Regular washing of the boat and removal of nests and eggs helps a lot.  The egg sacs are often filled with microscopic spider-lings which go everywhere. They mature rather quickly in the hot weather we have been having and will be spinning their own web condos in no time if not removed promptly.  Don't be surprised if they set up shop from one day to the next even after a thorough cleaning and removal.  It seems like a never ending battle at times. 

2.  Getting Rid of them

The incense method works great internally and on the exterior of the boat.  Having the incense smoke directed at the web will draw out the spider and have them bail.  At that point, you can evict them or assist them in meeting their maker.   Direct your attention to the egg sacs and areas where the nests are located.  You will have the best success in working towards decreasing your spider population through a strategic approach.

Once gone, switch into prevention mode and keep them 'gone' for good. 

We hope this helps and if we can be of any assistance by adding you to our concierge program, give us a call and we can quote your boat on our services. 


For More Information Ask Karma Yacht Sales by email  or call 1-773-254-0200

Monday, October 24, 2016

Listing your boat and Selling your Boat- There IS a difference.





By KYS Editor

"List for show, broker for dough".  

We have been very busy most of the Summer Season reviewing client's boats, doing boat evaluations and walk-through of some of Lake Michigan's most desirable boats. As the season comes to a close, we thought there is no more perfect time than the present to make the distinction between listing your boat and Selling your boat.    

We take a full consultative approach in our brokerage listing process.  It starts with the first phone call in to us when you have made your mind up to part with your boat.  We understand that it can often be a bit of an emotional hurdle to overcome as a boat becomes a part of the family.  There are many family memories on board a boat, so we do a fair amount of listening to identify the timing and just what will be sold with the boat.  We take a few facts down about the boat and usually follow the call up with a visit of the vessel to procure an accurate inventory of the equipment and systems on board.   We serve as your adviser in the process to help you navigate the staging of the boat to ensure those first impressions of your floating dream are positive with prospective buyers.   

Next comes the comparative process where we access the Multiple listing service (MLS) for boats and two other proprietary evaluation programs to identify a 60-90-120+ day marketing plan for your boat.   We hone in in the right price to attract the buyers and encourage offers.  We consult with you on what features or changes can be made to the boat to enhance the value.  Fully understanding that the goal is to sell her, we keep the client in mind when making these recommendations.   

Once we have identified an asking price, we visit the boat again, stage her and take photos for the MLS listing page.   

Once the information has been verified, she is officially on the market and we start the promotion of the boat via active e-marketing and announcements to other brokers.  

As members of the Yacht Broker's Association of America, we work professionally with other YBAA brokers around the country to find a buyer for your boat.   We also have a proprietary database of over 3800 clients and sailors that we promote your boat with.   Doing business with a YBAA broker means that you can be assured one of the highest levels of professionalism and ethics in the industry.  As a buyer, working with a YBAA broker means that you will be fairly dealt with using legally reviewed purchase /sale agreements that protect both BUYER and SELLER.  

So while our list might not be as long as other 'brokers' we work hard for everyone of our clients to ensure satisfaction in the listing process.   We also don't use our listing to sell late model new boats.  This is especially important with some of the most popular brands on the water.   So give us a call today and let's get your boat listed.   FALL is the perfect time to place your boat on the market! 



For More Information Ask Karma Yacht Sales by email  or call 1-773-254-0200