January 2016.
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U.S. Brokerage Sales End 2015 with Slight Decline

By John Burnham, YachtWorld

The year 2015 ended for the U.S. yacht brokers in nearly the same place as in 2014. December sales volume was down 23 boats, and for the year as a whole, a total of 30,077 boats were sold, off by 192 boats from 2014 when 30,269 boats changed hands. 

According to YachtWorld member yacht brokerages reporting in SoldBoats, the boats sold in December were collectively priced at $256.8 million, 4 percent lower than in the previous December. But excluding sales in the volatile range of boats 80 feet and larger, sales value was down less than $1 million.  

Read full article here.

Insolvency of a Yacht Builder - Buyers Beware

By Dean W. Baker - Bohonnon Law Firm, LLC

The insolvency of a builder of custom yachts in the United States raises significant risk to the “financing buyer’s” interest in the vessel under construction. A "financing buyer" provides financing to the shipyard to build the vessel by making payments in installments, typically at agreed-upon milestones of completion. It is generally the case that buyers, entering into construction contracts that have a duration of more than a few months, have no way of predicting the financial health of their builders. Moreover, within the last year, we have seen cases of reputable builders who could no longer pay their bills and perform existing construction contracts for previously agreed-upon fixed prices. Well known builders that have recently experienced financial distress include Christensen Shipyards, Ltd. (filed receivership in early 2015), Gunboat (filed Chapter 11 bankruptcy in late 2015) and one other builder of large custom yachts that was unable to complete its contracts.

Read full article here.

YBAA / CPYB to Co-Host 2016 American Boating Congress

When constituents talk, Congress listens

YBAA and CPYB will once again serve as co-hosts of NMMA’s American Boating Congress (ABC), scheduled for May 9 - 11, 2016. We want your input! As planning for the 2016 American Boating Congress gears up, we want to hear from you about the best topics to cover and speakers you are interested in hearing. NMMA’s government relations staff will do their best to accommodate requests. Just click here to take a short, 5-question survey and share your thoughts about how to make this year's event our best yet!

Read full article here.

NMMA Releases Annual Report on Canadian Recreational Boating

Exchange Magazine reports the NMMA released its annual Canadian Recreational Boating Statistical Abstract for 2015, showing that “Canadian recreational marine industry remains steady as sales increase in certain categories and boater participation rises.” 

The NMMA reported that “retail sales of new boats and engines reached $2.1 billion in 2015,” up by 3.8% from 2014. Sara Anghel, executive director of NMMA Canada stated, “The data confirm that recreational boating remains a significant part of the Canadian economy, delivering more than $3 billion in new and pre-owned retail sales, while providing us with insights on how we can continue to grow as an industry."

Open Letter from the Yacht Broker Institute

Kevin Ralph, Yacht Broker Institute Partner and Co-Founder

Yacht Broker Institute (YBI) applauds and thanks the Yacht Broker Association of America for recognizing and embracing the YBI course “Essentials & Fundamentals of Yacht Brokerage” as a tool to provide formal education to people wishing to enter the yacht sales profession.
The brokerage industry has always been troubled by the lack of formal education for people wishing to enter the profession, which is a double edged sword, since most brokerage companies would hire more “experienced” brokers, but without the tools or man power to train “newbies”, there is a vacuum created on both sides of the hiring equation! 

Read full article here.

Enrollment for the 2016 YBAA Health Insurance is Now Open! 

Open enrollment begins November 1, 2015 and ends January 31, 2016

Benefits of the YBAA Health Insurance Exchange are: 

*    No medical questions asked - all pre-existing conditions are covered
*    Instantly calculate your government premium subsidy
*    100's of insurance carriers and 1,000's of plans designs to choose from
*    Low deductibles and out of pocket plans available

YBAA Members click here to learn more.

Renew Your Membership Here

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Continuing education and professional development is essential for Yacht Sales Professionals to perform their job at the highest possible level. Certified Professional Yacht Brokers (CPYB) are required to earn a minimum of 30 credit hours of continuing education / professional development every 3 years. See the upcoming events here. 

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