Advising the Yacht Buyer or Seller

 

• Which Shipyard? Most buyers have a preference of which shipyard and pedigree of yacht they would like to build. We will verify general financial viability (i.e. UCC Search, Vendor Status, Back-Log, Surveyor Perception); We evaluate Market Perception; Customer Relations Feedback; Review of Sales Process; Review of Operational Processes; Quality Control Program; Legal History.

 

• How to Re-Sell Yacht? We have tremendous knowledge in what sells and re-sells. This is accomplished in new construction with exterior styling, general appearance of yacht, layout (proportionate crew accommodations; charter friendly, etc.); General specifications review; Also we determine re-sale at Pre-Brokerage: taking place before the yacht is listed for sale. We conduct a general review of vessel, specifications, and walkthrough; We consider possible re-fit options and suggestions (best bang for the buck); We evaluate Designer input; Surveyor input; Crew input; Broker input.

 

• Which Attorney? We have vast experience working with many different maritime attorneys in the industry. We will recommend the specific attorney for your specific need. If you have one you question, we confirm their Maritime Experience (Standard contract, Brokerage Yacht, New Construction); Common Goals/Team Player; Pedigree in Industry; Efficient/Cost Conscious; Known to work well with the other side and will strive to close the deal if acceptable.

 

• What On-site Representative to use? We have access to many qualified on-site representatives. We categoroze them by their Experience (New Construction; Re-Fit) We will fit them to the Scope of Duties, Understanding of Project Specifications and Contract; Understanding of Shipyard Billings; Honesty and Integrity; Background Check; Vendor/Subcontractor relations; Shipyard relations.

 

• Which Yacht Management Service? Does yacht need this? Costs, fees, associated; What services do they provide? Review on rotational captains? Crew, Maintenance.

 

• Which Businesses are at Risk? We have tremendous insight and intelligence on the maritime industry and most businesses serving within it. We can provide a general summary of insight on specific businesses; We also conduct on-site study of business with industry-specific insight; Experience; Pedigree; Legal Matters; Overall Viability.

 

• Which Large Subcontractors are Capable? There are numerous subcontractors. Some are not qualified to be in the luxury yacht industry. We know most of the good ones. If we don't we evaluate their Experience; Financials; Legal Incidents; Price and Terms; Proper Insurance; Bonded; Relationship with shipyards; Recommendations; Verify with other Shipyards; Designers, etc.

 

Advising the Shipyard

Sales Process; Efficient Sales Analysis and Negotiations Advisory, Sales Lead Sourcing, Introductions to Potential Customers, New Yacht Construction, Negotiations with Buyers, Commissions to Brokers; Negotiating amount to be paid and terms of when to be paid; Ease of Sales Process to close.

 

• Shipyard Market Study: Is the shipyard building within markets that suit them? Are there other markets that should be explored? Vessel length study; Vessel type study; Yacht, Explorer, Commercial, etc. Vessel specifics based on region of market. Things to consider, the shipyard's capabilities, i.e. Steel, Aluminum, Composite, etc.; Local supply chain; Access to the shipyard; Geographic Region; Labor Pool.

 

• Shipyard Customer Relations: Are the customers happy with the shipyard? Determine SWOT of each customer relationship. Get feedback from each customer, related broker or sales associate, customer representative, captains, surveyors, etc. Organization, communications, change orders, flexibility, scheduling, pre-planning, scope of work, design team, management team, working conditions, etc.

 

• Shipyard Operational Process: Every shipyard has their own process and procedures in building their world-class yachts and ships. We respect each shipyard’s process and protocol. Areas in which we may provide input from the 30,000 foot level are as follows: Based on Customer related feedback, market/industry feedback, a review of overall Management Structure. Provide sourcing to key industry professionals in Lean, Six SiGMA, and ISO, etc.

 

• Shipyard Process Troubleshooting: Assuming the shipyard has conducted a SWOT Analysis, there may be areas of priority in which we may be able to advise. Typical areas: Feedback-loop from end-user customers on their vessels back to design/engineering and to the production floor. Are the issues found in the warranty field being communicated, documented and implemented effectively back through the shipyard to minimize warranty on future vessels? Other common areas are; Customer Crew/Representative Etiquette within the shipyard; Standard rules and procedures when operating within the shipyard, etc.

 

• Shipyard Quality Control: Based on Customer related feedback, market/industry feedback, a review of overall Management Structure. In depth study of Customers Present/Past Feedback; Seek feedback from present and past Captains, Crew, Surveyors, Yacht Brokers, Attorneys, Warranty and Service Representatives, Service and Re-fit Yards. Develop Program based on Feedback. Bring in necessary industry individuals for consultation, training and implementation.

 

• Insight of Risks with Potential Customers: Advise a shipyard on particular clients and representatives before a contract is negotiated. Potential litigiousness of certain clients; the type and qualifications of their representatives; or their financial abilities/inabilities.