Saturday, January 31, 2009
Friday, January 30, 2009
In today's economy, 'value' cuts much deeper than that. The longer-term approach to defining value is based upon a thorough process of looking at the product, the manufacturer (where they've been; where they're going) and most of all the dealer (What services do they provide? What have customers said about their experience with them?).
Boat manufacturers come and go. Recently, there have been more departures than arrivals. In the months to come- the market may see more. In doing your research, You have to look at the legacy of the company, what their market capitalization is and where they are heading. Today, more than anything, these factors truly define the true value of a boat. This effects the residual value of the boat in two, three five or more years down the line should you decide to sell her. That 'hot show boat' may quickly become the white elephant boat that no one will buy at any price down the line. Many european manufacturers have tried to penetrate the US market. Many have come and many have gone. Ultimately, the lack of dealer support, dealer network and fluctuating currency does them in. Come low tide- they too will be gone.
The 'term boat dealer' is loosely defined as well. Many have come and gone in this category too. Some are content with opening shop out of the back of a car or operating virtually. With no inventory to stock, their approach is to pass the savings along to you. While this might represent an immediate transfer of 'savings'. The cost is loaded on the back end. When you have a warranty claim, who will do the work? Will the company stand behind the product? Will the 'dealer'? How do you obtain parts for the boat?
We are proud to say that at Karma Yacht Sales, we represent the best the industry has to offer.
KYS has a legacy of providing top service for our customers and have received the recognition for it. We understand that buying the boat of your dreams is an important decision. That is how we started in this business, as customers. We also recognize that anyone can sell a boat, once. There are however, very few who do it right and can earn a customer's loyalty for a lifetime. That is what we strive to achieve. Just ask our many customers.
As the largest builder of boats worldwide, Beneteau has a legacy of being in business for over 120 years. They have weathered many storms and because they have- they are poised to endure. Designed in France and manufactured with pride in Marion, S.C., they have generously invested in their own success.
I've included the latest financial report for Groupe Beneteau. In reading it, you will see their outlook. A realistic one for the short-term and one that looks toward the future.
A value today, tommorrow and in the years to come.
By IBI Magazine
French boatbuilder the Bénéteau Group says that its solid financial position will allow the group to weather the crisis and predicts recovery with double-digit growth in 2010.
Bénéteau forecasts a drop in marine sales of up to 40 per cent in 2009, but intends to outperform the market. The group predicts its sales will be down 30-40 per cent for 2008-2009.
Sales for 2007-2008 amounted to €1,063.8m and income €150.2m. Bénéteau's high assumption forecast for 2008-2009 is €742m in sales — a drop of 30 per cent — and profits of €29m. The low assumption forecast is €646m in sales — 39 per cent down on 2007-2008 — and €1m income.
The group's 'particularly healthy' financial position of €490m net including €217m net in cash on August 31, 2008 and its high profitability will be key in maintaining investments in preparation for the recovery.
Projections for double-figure growth in 2010 are based on a record new-model plan, including 21 renewals and eight range extensions, the impact of the reduction in stock on the 2009 season, and the effects of the crisis on competitors.
These results and forecasts were released at a meeting yesterday with financial analysts and follows encouraging signs at the recent Paris Boat Show, where Bénéteau noticed a change in behaviour of its French customers following the caution of September, October and November. The show reported 260,000 visitors, a drop of five per cent on last year's levels.
Boats represent 81 per cent of Bénéteau's sales and leisure homes 19 per cent. The group is present in over 50 countries and employs 6,000 people across 24 production sites.
(30 January 2009)
Wednesday, January 28, 2009
200 E. Randolph Dr., Suite 5100
Chicago, IL 60601-6528
CONTACT: Ellen Hopkins (email@example.com; 312-946-6249)
Exhibitors report quality buying crowds and healthy boat sales at
shows across the U.S.
As expected, attendance was down at all five shows compared to the previous year: New York National Boat Show, 49 percent; Kansas City Boat & Sportshow, 38 percent; Nashville Boat & Sportshow, 36 percent; San Diego Boat Show, 12 percent; and New Orleans Boat Show, 5 percent.
NFL playoff games involving Nashville and San Diego Teams, the Tennessee Titans and San Diego Chargers, hurt attendance in these two particular markets. New York was rocked by a winter snow storm on the final weekend of the show, helping to dramatically reduce the gate. Kansas City experienced similar weather conditions that ultimately kept people indoors during the show’s run.
"We expected to be down in attendance this year as a result of the economy, and while we wished we had greater numbers through the gate, we were nonetheless happy with the quality of attendees and both encouraged and optimistic to know that serious, interested buyers were, indeed, attending and buying," says Ben Wold, NMMA executive vice president. "Exhibitors at shows in each of the five markets have been informing us that sales-wise, they’re doing better than expected—some even saying they’re outperforming last year, which tells us boat shows continue to be a solid selling venue."
"We had a great New York show and sold more than 20 Glastrons," says Dave Kaczmar, a dealer representative for Glastron and Baja. "The buyers here were serious; there was very little tire-kicking going on this year."
"We were very happy with the display of one of our Bentley Pontoons in the Affordability Pavilion," explains New York exhibitor Mitch Scharf of Lake Hopatcong Marine. "A lot of people came into the booth and mentioned that they saw one of our boats in the Pavilion. As a result, we collected four deposits at the show on that particular model—all of which are now beginning to close. We think the Affordability Pavilion was a great idea and hope to be part of it in the future!"
Kansas City exhibitors said they were equally pleased with show results. "This was the best Kansas City show ever," says Denise Morgan of Anglers Point Marine. "Anglers Point sold several boats at the show to solid buyers."
"The amount of qualified buyers at the Kansas City Boat & Sportshow was impressive," echoes Chuck Landis of Cabela’s. "We sold boats at the show and in our store because of the show advertising campaign. Even more impressive is the number of qualified leads the show produced for us."
In New Orleans, exhibitors also reported better-than-expected sales and quality buying crowds. "This year’s show was one of the best shows we’ve ever had, taking in 23 deposits," says Chad Adcox of Dockside Marina. "Attendance appeared comparable to last year, with a high percentage of buyers in the mix."
New Orleans exhibitors also expressed satisfaction with the amount of pre-show advertising aimed at bringing people out to the event. "If you didn’t hear about the New Orleans Boat Show, you must’ve been living under a rock," says Bruce Taylor of Xtreme Jetsport. "The ads and publicity really worked," agrees Barrett Canfield of Southwestern Yacht Sales, an exhibitor at the San Diego Boat Show.
"As a company, this is the best show we’ve done in two years in terms of sales, and the best show we’ve done in three years in terms of solid sales leads," Canfield continues. "With the start of a new year, we’re really seeing peoples’ attitudes shift. They’re now saying they’re ready for ‘change,’ and as part of that change they’re saying they’re ready to buy a boat."
NMMA boat shows continue through January and February. A full list of shows can be found online at BoatShows.com.
The National Marine Manufacturers Association (NMMA) is the leading association representing the recreational boating industry. NMMA member companies produce more than 80 percent of the boats, engines, trailers, accessories and gear used by boaters throughout North America. The association is dedicated to industry growth through programs in public policy, market research and data, product quality assurance and marketing communications.
Monday, January 26, 2009
Monday, January 19, 2009
For boat owners who paid substantial state sales taxes on a new or used boat purchase last year, the Tax Extenders Act of 2008 signed by President Bush on October 3 continues to offer a federal tax benefit with a deduction for state sales taxes. Boaters must choose either the state sales tax deduction or state income tax deduction on their federal tax return — you cannot take both.
In addition, to take the state sales tax deduction, the sales tax on a boat purchase must be applied at the same tax rate as the state’s general sales tax. In order to claim the sales tax deduction, tax returns must be itemized. State sales taxes are entered on IRS form Schedule A, line 5b.
For those owners with a secured boat loan, mortgage interest paid on the loan may be deductible from your federal income taxes. Taxpayers may use the "second home" mortgage interest deduction for one primary home and one second home and must itemize deductions on their returns. A boat is considered a second home for federal tax purposes if it has a galley, a head, and sleeping berth.
For those who fall under the Alternative Minimum Tax, most deductions are unavailable as taxes are calculated differently. Boaters are urged to contact a tax preparer or financial advisor for more information.
For more details on the mortgage deduction, go to http://www.irs.com/ and download Publication 936 or the Fact Sheets. For state tax deduction information download Publication 600, which also includes state-by-state tax tables.
BoatU.S. – Boat Owners Association of The United States – is the nation’s leading advocate for recreational boaters providing its 600,000 members with government representation, programs and money saving services. For membership information visit http://www.boatus.com/ or call 800-395-2628.
Thursday, January 15, 2009
The Strictly Sail Boat Show happens every January here in Chicago. It is a four day event held at Navy Pier, and it features everything that is sailing, from boats to gear to sails to seminars. If you have ever attended the show, I am not telling you anything new to suggest that it is an awesome way to spend a freezing cold, snowy day in Chicago. Walking into the brightly-lit Great Hall at Navy Pier instantly transports you to summer, for a few hours anyway.
One of the fascinating things about the show is the fact that it becomes something like the lake, which looms just outside, as it is filled with big and small sailboats and dinghys with masts aloft and sails hanked on. On second thought, it is even better than the lake, as there are no power boats, jet skis, or Sea Dogs anywhere in sight.
I have co-ordinated the display setup for Beneteau and our company, Karma Yacht Sales, at the Strictly Sail show for the past eight years and have frequently been asked 'How do you get all this stuff in here'? I took the time a couple years ago to take pictures during much of the process and always meant to put it to music to share the week-long process with our customers, friends, and any other sailing enthusiasts.
Here it is, just click on the yellow-lettered title above. Hopefully this helps to show how it all happens. The set-up for our display takes about two-hundred man-hours, lots of $$$, nerves of steel (to see $300,000 hanging 20 ft. off the ground), good insurance, and a lot of co-ordinated planning. Keep in mind, this is one display. Similar activity is going on simultaneously in the other displays all around the hall. But, if summer isn't here yet outside the hall, we'll bring it to you inside the hall. Hope you enjoy.
Wednesday, January 14, 2009
I ran accross these pictures on a feed from Naturalsurfing. These are photos of a late model Beneteau (looks like a B40 or B43), that serve as a simple physics lesson as to how a sailboat (more importantly a Beneteau) holds up to the forces of nature. Ok, so your first question might be, "What the heck were they thinking?". But without a doubt, she holds up well with light crew and even getting smacked on the broadside by the wave!
These sailors will be talking about his one for many years to come at the bar. You can be sure the waves will grow to 90 feet as the years go on. Enjoy!