United States

IYBA

Fifteen years ago, two men with a shared vision dropped anchor into an idea that would become a cornerstone of the Adriatic superyacht scene. Today, <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> stands as one of the region’s most respected boutique yachting companies – a name synonymous with precision, discretion, and a deep-seated passion for life at sea.But to understand <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> is to understand the people behind it. Before founding the company in 2010, Slaven Knežević and Matija Zelić had already charted impressive courses through the yachting world. Slaven had mastered life at sea as a superyacht captain, while Matija had built a deep knowledge of yacht sales through years spent at world-renowned shipyards. Together, they turned their experience into something rare: a business that balances operational excellence with emotional intelligence – a business that listens before it sails.<img src="https://photo-assets.superyachttimes.com/photo/364177/image/large-b0fa59bc885309a1920ad25df39c53a1.jpg" data-gid="gid://syiq/Photo/364177">Matija, Barbara and Slaven – The driving force behind YACHT IN From vision to legacyThe idea behind <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> wasn’t simply to offer charter or sales. It was to offer something more elusive: trust in an industry driven by image, and service that goes deeper than luxury. From day one, their goal was simple but bold – to become the region’s leading full-service yachting company, guided not by trends but by values.And it worked. One yacht became a fleet. Two founders became a team. A dream became a reputation. “Our mission was never about being the biggest,” says co-founder Slaven Knežević. “It was about being the most trusted. We wanted clients to feel like they had someone in their corner, someone who truly understands both the beauty and the complexity of the yachting world.”<img src="https://photo-assets.superyachttimes.com/photo/364176/image/large-60e979a404cb056a9dec77569f9e6c77.jpg" data-gid="gid://syiq/Photo/364176">37m Carmen – Sold and placed on the charter market by Yacht IN in 2025 Milestones<a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a>’s journey has not been one of linear growth, but of strategic evolution. The company set sail in 2010 with the founding partnership between Slaven and Matija, and within two years had secured one of its most significant alliances: becoming the appointed <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> dealership and aftersales partner for the East Adriatic. By 2014, they had expanded their scope with the launch of Race &amp; Regatta Management services for Wally yachts, while solidifying their exclusive <a data-gid="gid://syiq/Company/374" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sanlorenzo (Company)">Sanlorenzo</a> Timeless aftersales role.The year 2017 saw the introduction of Superyacht Financial Management, alongside the creation of a dedicated Charter Management Division – key steps that positioned <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> as a holistic service provider. By 2019, they had successfully entered the superyacht charter market, managing their first vessel over 30 metres under Central Agency.<img src="https://photo-assets.superyachttimes.com/photo/364311/image/large-a0b38d2b3b2bde5cdfbfc7068f860239.jpg" data-gid="gid://syiq/Photo/364311">Yacht IN Race &amp; Regatta Management (2014–2018) for Wally Yacht&nbsp;Nahita 2020 marked a flurry of progress. <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> became the Southeast European dealer for RIBCO, the high-performance luxury RIB brand, and joined MYBA Yachtfolio – a platform reserved for the industry's most reputable charter brokerages. That same year, they introduced ISM &amp; ISPS compliance support, ensuring yacht owners and captains met international safety and security standards.In 2021, <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> took over the charter management of its first 45-metre yacht – a milestone that underscored their growing influence in the large yacht segment. By 2022, the company had extended its Central Agency charter fleet beyond Croatian waters, firmly anchoring itself in the wider Mediterranean market.<img src="https://photo-assets.superyachttimes.com/photo/364309/image/large-326ddd2a71c1b1fe55428d2e02f6e653.jpeg" data-gid="gid://syiq/Photo/364309">Yacht IN displaying its charter fleet at the 1st CROYA Charter Show, Split – October 2024 By 2024, <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> had continued to reinforce its standing within the global yachting community, joining both CYBA and <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a> to affirm its ethical practices and professional credibility. That same year, it became a member of CROYA, the inaugural CROYA Charter Show, with <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> contributing to the execution and success of the event which was a clear signal of its leadership in shaping the future of yachting in Croatia.“From one vessel to a curated luxury fleet of over ten yachts, we’ve built lasting relationships with owners and loyal clients – and earned our place on the international yachting scene,” says Barbara Grgurević Škoda, Head of Charter Department.<img src="https://photo-assets.superyachttimes.com/photo/364180/image/large-665f7512a78fb7b9b274f71e3fa238d5.jpg" data-gid="gid://syiq/Photo/364180">Yacht IN – Official RIBCO dealer for South East Europe since 2020 The team&nbsp;Today, the <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> team includes charter specialists, brokers, finance experts, and operations managers. Multilingual, knowledgeable, and passionate about the sea, the team handles every transaction with the calm confidence of seasoned professionals who haven’t lost their human touch.Their combined experience is a competitive advantage – but it’s their approachability, discretion, and commitment to long-term relationships that set them apart.<img src="https://photo-assets.superyachttimes.com/photo/364182/image/large-5713ab417eb5fae0098a8e1ca710c8a0.jpg" data-gid="gid://syiq/Photo/364182">Looking forwardAs <a data-gid="gid://syiq/Company/4424" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht IN (Company)">Yacht IN</a> celebrates its fifteenth anniversary, it continues to do what it always has: focusing on the horizon. There are new markets to chart, new clients to impress, and new partnerships to build. But even as the brand evolves, its compass remains steady – guided by integrity, intelligence, and a profound love for the sea.“We’re proud, but never complacent,” says Matija. “There’s still so much more to do. But if the past fifteen years have taught us anything, it’s that when you stay true to your values, good things follow.”

15 years of Yacht IN 

Yacht IN stands as one of the Adriatic region’s most respected boutique yachting companies.

15 Years of Yacht IN: Navigating passion, precision and the Adriatic dream

A federal judge in Florida has dismissed a class-action lawsuit that accused the world's largest yacht brokers’ association and other entities of charging boat sellers inflated sales commissions. <img src="https://photo-assets.superyachttimes.com/photo/289300/image/large-1ffa49ca8775f0bb7ce606cad8163ecf.jpg" data-gid="gid://syiq/Photo/289300">The lawsuit, initiated by a group of yacht sellers, claimed that the <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association</a>, along with Boat Trader, Yacht World and Boats Group LLC - the operator of Boats.com - had violated antitrust laws. It alleged that these entities compelled sellers into paying a 10 percent commission on the sale price of vessels, a fee split between the agents representing each party in the transaction. &nbsp;Initiated in February 2024, the legal challenge drew parallels to the residential real estate market in the United States, where sellers customarily pay a commission that covers the services of both their own and the buyer’s brokers. &nbsp;Read: <a data-gid="gid://syiq/Article/60200" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Inside the yacht brokerage industry’s class-action controversy (2024-04-17 09:30:00 +0200)">Inside the yacht brokerage industry’s class-action controversy</a><img src="https://photo-assets.superyachttimes.com/photo/306423/image/large-f732fc93c7f3418567c26f3dfb9234a4.jpg" data-gid="gid://syiq/Photo/306423">According to court documents, Miami-based U.S. District Judge K. Michael Moore ruled on Tuesday that the plaintiffs had not proven that the group of yacht brokerages, broker associations and a yacht listing service conspired to fix broker commissions. &nbsp;Judge Moore also remarked that it was not unreasonable for yacht brokerages to prefer doing business with sellers represented by agents. &nbsp;SuperYacht Times has reach out to the <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association</a>, Boat Trader, Yacht World and Boats Group for further comment.

US yacht brokers secure victory in antitrust lawsuit over commission fees

A class-action lawsuit has been dismissed that accused the IYBA of charging boat sellers inflated sales commissions.

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The <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association (IYBA)</a> has launched a new brokerage platform Yachtr. Powered by Yachtbroker.org, Yachtr provides brokers with new ways to list yachts, while giving prospective buyers a platform to view the yachts internationally.&nbsp;The platform is designed after several years of software development led by <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>. “Yachtr is taking control from private enterprise solutions and putting it back in the hands of the community,” explained Paul Flannery, Chief Operating Officer, <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>.<img src="https://photo-assets.superyachttimes.com/photo/337394/image/large-abd7cbd87484a9f546255c665d8f8ea8.png" data-gid="gid://syiq/Photo/337394">When on the website, users can search verified listings that are on the market by category, such as motor yachts, sailboats and cruisers, or by broker and yacht builder. Those interested in selling a vessel can also be connected directly to professional brokers by searching either by name, city or zip code.&nbsp;“We have heard concerns from our members, and we believe that Yachtr addresses and solves the challenges that current listing sites present. We want to provide a platform that is accessible to all, and inherently fair in its approach to displaying listings,” Flannery continued.&nbsp;The website also includes a ‘From The Bridge’ blog that offers an array of posts on topics including sea trials, captains, and boat insurance. Yachtr users are also invited to subscribe to have articles sent directly to their email inboxes.&nbsp;“We firmly believe that if the industry can be able to control their data that they will then be able to control their destiny and provide an enhanced consumer experience. Help us spread the word about a better way to buy and sell yachts where you’re always in control of your data,” Flannery continued.&nbsp;

IYBA launches brokerage platform Yachtr  

The International Yacht Brokers Association (IYBA) launches a new brokerage platform Yachtr. 


IYBA launches new brokerage platform Yachtr  

With his appointment as the new President of the <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA association</a> announced in April, SuperYacht Times’ Jessamie Rattray and Francesca Webster sat down with Raphael Sauleau to find out how he intends to bring a fresh approach to the association that has just celebrated its 40th anniversary.&nbsp;What is your vision for your tenure as President of <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a>, particularly in respect of Yachtfolio and its development?As an association, <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> is run by panels and committees and so it is not the case of changing things as one individual, but our vision as the board is to review our processes and to become faster at developing projects and products for our members. Yachtfolio, which we have been working hard on for the past two years, is going to be a major focus of mine. The platform was quite obsolete in its original format, but we have bought in a company to rebuild the platform and now we will be implementing the ads, because the platform has been missing elements that help brokers to perform.&nbsp;We are also going to have a thorough review of our existing processes, including the yacht show which has been successful this year, but which we can still improve. The location of the future shows are still up for discussion between Genoa and San Remo and we will soon decide which one. <img src="https://photo-assets.superyachttimes.com/photo/245836/image/large-83bd41ab5d0f12028e30ada83d3a867d.jpg" data-gid="gid://syiq/Photo/245836">So Yachtfolio is now functional and being used by brokers?It absolutely is. Of course as we have rebuilt the platform there are elements that are new and which brokers are not used to yet – so there are some teething issues – but we are going to continue to develop it and iron out any bugs over the coming months with the developers.&nbsp;How does <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> feel about other companies coming into the Yachtfolio space, namely Ankor who launched a charter calendar software last year?My take is very simple, we are the one and only tool which has been utilised by brokers worldwide. Obviously it went through some bumpy times with lack of improvement, but we have worked through these and are receiving very positive feedback from the brokers.&nbsp;It is also important to note that we undergo a lot of due diligence for brokers to become <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> members. We are diligent with all of the yachts that are given access to the platforms because we want to ensure a certain level of charter boat. This does however mean that some smaller yachts and brokers are not given access to the systems, which is something that we are looking into for the future, perhaps creating a Yachtfolio for smaller boats. <img src="https://photo-assets.superyachttimes.com/photo/276439/image/large-5d0e96dd70316d12074110f8ae4542ca.jpg" data-gid="gid://syiq/Photo/276439">The Association has historically received some criticism, as you have outlined, what are the main advantages for brokers becoming <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> members?<a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> is the pillar of our industry. The association has gone through highs and lows, but the <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> contract is the contract used by our industry and though it needs refreshment, it is the most recognised and respected out there. Its wide utilisation recognises its importance to the sector. <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> was founded 40 years ago, and I believe it has been proven as a reliable institution for our industry, irrespective of the bumpy time it may have gone through, I see it as a very strong association going forward. And obviously I'm here to make it stronger and stronger with the board and the members.&nbsp;If you look at the amount of companies applying for membership, and the waitlist for the shows alone, you can see that it has a solid reputation.&nbsp;Is there any conflict of interest as both the CEO of&nbsp;<a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>&nbsp;and the President of <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a>?Not at all. Each committee is run by people from each member company. The goal is to have perspectives from each company. Of course that also poses challenges, because we are all working pro bono which means it is harder to be very reactive - but this is one of the things we will be working to improve.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/310580/image/large-e83336851740caf22cb3a488a36d7ff7.jpeg" data-gid="gid://syiq/Photo/310580">For the upcoming conference with <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>, do you already have topics on the table?The industry is getting bigger and bigger with more members, and while <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> is super strong in Europe, <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a> is extremely strong in America. So it's a very good thing that both Associations are coming together once or twice a year, and come up with initiatives such as at the, the panel, the conference, which will take place in June. The idea is to discuss the challenges our sector faces, such as the Class Action that is currently taking place in the US, which is of course also impacting European companies with American offices.&nbsp;I believe that this kind of collaboration will make us as an Association stronger so I look forward to our discussions next month.&nbsp;Finally, looking to&nbsp;<a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a>&nbsp;in Greece and Fraser’s recent acquisition of Atalanta Golden Yachts, how is the team feeling about another house in this region?As ex-Fraser CEO, of course I knew that part of their strategy was to expand into Greece and it definitely increases the sense of competition having such a strong house making this kind of move. However, I would say that as <a data-gid="gid://syiq/Company/244" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYC (Company)">IYC</a> we are very strong in what we can do, we are here at <a data-gid="gid://syiq/Event/203" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Mediterranean Yacht Show - 2024">MEDYS</a> with more than 20 excellent yachts and we are regularly signing more vessels onto our charter management, so I am not concerned about the competition – it is always healthy. We plan to continue our organic growth, as seen by the acquisition of <a data-gid="gid://syiq/Company/4463" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yachtlove (Company)">Yachtlove</a> in January, and as always our greatest strength is the fantastic team that we have at the firm.&nbsp;This article is featured in&nbsp;Issue 49&nbsp;of the&nbsp;<a href="http://superyachttimes.com/" target="_blank">SuperYacht Times</a>&nbsp;newspaper.&nbsp;You can find a full archive of all previous SuperYacht Times newspapers&nbsp;<a href="https://www.superyachttimes.com/newspaper" target="_blank">here</a>.&nbsp;

Modernising MYBA with new President Raphael Sauleau

SuperYacht Times sat down with Raphael Sauleau, the new President of the MYBA association, to discuss future plans. 

Since March, the yachting world has been impacted by a class-action lawsuit filed in the U.S. District Court in Miami by Ya Mon Expeditions, LLC. This lawsuit targets numerous brokerage firms, including <a data-gid="gid://syiq/Company/833" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Denison Yachting (Company)">Denison Yacht Sales</a>, <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a>, <a data-gid="gid://syiq/Company/2581" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="United Yacht Sales (Company)">United Yacht Sales</a>, <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, and <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>, as well as prominent listing platforms such as Boats.com and Yatco. Moreover, The <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association</a> is also named as a defendant. At the heart of the lawsuit are allegations of price-fixing, accusing multi-listing services like Yatco of facilitating potentially anti-competitive behaviours that violate federal antitrust laws.<img src="https://photo-assets.superyachttimes.com/photo/306423/image/large-f732fc93c7f3418567c26f3dfb9234a4.jpg" data-gid="gid://syiq/Photo/306423">The plaintiff, Ya Mon Expeditions LLC, a Wyoming-based limited liability company owned by a lawyer, initiated the lawsuit after selling a yacht and subsequently discovering how commissions were distributed. Specifically, it was revealed that the commission paid to the listing broker was shared with a cooperating broker. This lawsuit seeks to challenge the legitimacy of the commission structures associated with MLS-like systems within the yacht brokerage industry.The roots of this lawsuit likely trace back to recent shifts within the real estate sector concerning commission structures. Home sellers in multiple lawsuits against the National Association of Realtors (NAR) and several major brokerages have argued that the trade group's regulations, especially those governing homes listed on its affiliated multiple listing services, unfairly bolstered agent commissions. These rules reportedly incentivised agents representing buyers to avoid showing listings where the seller’s broker offered lower commissions to the buyer’s agent.In an article published by Soundings Trade World, <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a> Chief Operating Officer Paul Flannery addressed the allegations, stating: “We are aware of the complaint, which does not accurately portray the yacht brokerage industry. It incorrectly suggests that selling yacht brokers are required to pay the commissions of brokers representing yacht purchasers, or that there is a conspiracy to inflate commissions”.<img src="https://photo-assets.superyachttimes.com/photo/289300/image/large-1ffa49ca8775f0bb7ce606cad8163ecf.jpg" data-gid="gid://syiq/Photo/289300">Furthermore, an article by Loose Cannon highlights how several yacht brokerages, along with the corporate owners of the YachtWorld listing service, are collaborating to formulate a unified defence.Judge Michael Moore of the U.S. District Court in Miami recently granted the defendants additional time to compile exculpatory evidence and develop their arguments. This decision came in response to a motion filed by <a data-gid="gid://syiq/Company/526" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Northrop & Johnson (Company)">Northrop &amp; Johnson</a>, <a data-gid="gid://syiq/Company/2575" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galati Yacht Sales (Company)">Galati Yacht Sales</a>, <a data-gid="gid://syiq/Company/1312" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MarineMax (Company)">MarineMax</a>, <a data-gid="gid://syiq/Company/2581" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="United Yacht Sales (Company)">United Yacht Sales</a>, <a data-gid="gid://syiq/Company/2223" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="HMY Yacht Sales (Company)">HMY Yacht Sales</a>, Permira Advisers, and Boats Group. Notably, the Yacht World multiple-listing service, which is controlled by its parent companies Permira and Boats Group, is also implicated in this case.However, <a data-gid="gid://syiq/Company/833" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Denison Yachting (Company)">Denison</a> has chosen a distinct path from the rest, as <a data-gid="gid://syiq/Company/833" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Denison Yachting (Company)">Denison</a>'s legal team filed a motion to dismiss the charges against their client alone. In a bold move, they distanced themselves from <a data-gid="gid://syiq/Company/2575" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Galati Yacht Sales (Company)">Galati</a> and <a data-gid="gid://syiq/Company/1102" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Allied Marine (Company)">Allied Marine</a>, suggesting in their arguments that if guilt were to be assigned, it would more likely fall on these two.Christopher M. Brainard, the attorney for <a data-gid="gid://syiq/Company/833" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Denison Yachting (Company)">Denison</a>, described the lawsuit against his client as merely a 'cut and paste' from recent class-action lawsuits that have disrupted America's real estate commission system. Brainard argued that although the system for selling boats may seem similar to home sales on the surface, the underlying mechanics of yacht sales are fundamentally different. He emphasised to the judge that the arguments which undermined the National Association of Realtors do not apply to the context of yacht sales.<img src="https://photo-assets.superyachttimes.com/photo/292157/image/large-1fe7b7eb29843cceb1d513bfab6f9a7a.jpg" data-gid="gid://syiq/Photo/292157"><a href="https://www.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> has reached out to the involved brokerage houses, but none have responded with a comment. As this case progresses, <a href="https://www.superyachttimes.com/" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> will continue to monitor its development, as the outcome could have profound implications for the practices of yacht brokerage.

Inside the yacht brokerage industry’s class-action controversy

Since March, the yachting world has been impacted by a class-action lawsuit filed by Ya Mon Expeditions, LLC, in the U.S. District Court in Miami.

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market-insights#0

Brandon Kummer is a prodigious talent in the yachting industry, embarking on his journey into the yachting industry at just 18 years old. Recognised as the most outstanding young professional by <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>, Brandon's commitment to integrity and unwavering trustworthiness has established him as a titan among yacht brokers globally. His resumé boasts significant transactions, including the sales of renowned yachts like the 75-metre <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>, <a data-gid="gid://syiq/Yacht/6415" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arrow74.98m (245'12&quot;)Feadship2020">Arrow</a>; the 76-metre Project 825 by <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadship</a>; Project Primo, the 73-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a>; and Project Spyder, the impressive 88-metre <a data-gid="gid://syiq/Company/570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Admiral (Company)">Admiral</a> superyacht. Notably, Brandon holds the distinguished accolade of being the youngest broker ever to sell a 62-metre superyacht. <img src="https://photo-assets.superyachttimes.com/photo/280591/image/large-09af4a312203de2b836d431685d34b4c.jpg" data-gid="gid://syiq/Photo/280591" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">With determination and stamina, Kummer has gone on to establish his own yachting brokerage house with his two co-founders, Tony Imbesi, and Michael Tabor, forming the ever-expanding <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>. &nbsp;<a href="https://www.superyachttimes.com" rel="noopener noreferrer" target="_blank" title="">Superyacht Times</a> sat down with the entrepreneur broker to learn more about his professional and personal journey into yachting, along with some inside expertise regarding the current market.<img src="https://photo-assets.superyachttimes.com/photo/261070/image/large-877f2ec3b1bec6c03a535c35842aad10.jpeg" data-gid="gid://syiq/Photo/261070" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;">Can you first tell me a little about yourself, including your personal journey into yachting?I became a yacht broker before I even knew it! Growing up in Florida, my Dad’s love for boating, more specifically, water-skiing, meant that I was put in a life jacket at just 3 months old. My brother and I spent countless hours on the water and never shy away from an opportunity to convince our Dad to invest in bigger, better boats. At 10 years old, I sold my first boat, a brand new 210 Nautique, which I did by explaining the deprecation schedules between a Mastercraft and a Nautique!&nbsp;I have always maintained a relentless mindset, it's part of who I am, and I never accept “no” for an answer. Regardless of the challenge, I find a way to make it work. I’ve seen myself alongside my business partners, Michael Tabor and Tony Imbesi overcome adversity I never imagined. Overcoming these hurdles has profoundly affected my belief in myself and our team's ability at <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>. We see no limits! As we have grown our business through the years, we, in fact, welcome challenges and embrace hardships, it has become a driving force for <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a>. We often joke when we think a large deal is going sideways. This is our signal that the deal is near. My morals align with the belief that nothing is given, challenges are absolute, and if I continue to persevere, the rest will take care of itself.<img src="https://photo-assets.superyachttimes.com/photo/209768/image/large-528a90c752fb7f334ea95bb0bf3c4000.jpg" data-gid="gid://syiq/Photo/209768">How did you venture into the yachting industry?During my college years, I had the opportunity to intern at a boat manufacturing company owned by a family friend. This experience provided me with invaluable insights into building a boat from scratch and all the intricacies involved. I had a teammate on the football team whose family owned a Yacht brokerage company. During spring break, I visited their company and gained firsthand knowledge of how the industry operates. At that moment, I knew what I wanted to do, and I quickly applied for a job at a well-known national company. However, they informed me that I couldn’t work as a salesman for two years. <img src="https://photo-assets.superyachttimes.com/photo/257380/image/large-cddf3ac9f5f2f59a1eb3d85d77c80cac.jpg" data-gid="gid://syiq/Photo/257380">Fortunately, fate intervened when another prominent yachting executive came across my application for a store in Miami. He invited me to meet him during his layover at Orlando airport, and that encounter changed everything. Taking a chance on me, he offered me a position, and from that moment on, I was completely captivated by the industry.<img src="https://photo-assets.superyachttimes.com/photo/209770/image/large-4b321c8a54d9583f4425593c9a55aac4.jpg" data-gid="gid://syiq/Photo/209770">Who has influenced your career so far?During my career, my clients have evolved into an extended family. Their impact on me has been profound, providing invaluable insights that have helped me excel in this industry and foster the growth of our company. While it’s challenging to single out just one, I am fortunate to have formed exceptionally close bonds with several clients. One lesson I always remember is from one of my first superyacht clients, “when you move, be sure to take leaps not steps”.<img src="https://photo-assets.superyachttimes.com/photo/278708/image/large-b5a49dca61f71926371b44f117b09a04.jpeg" data-gid="gid://syiq/Photo/278708">You were the youngest broker ever to sell a 62-metre superyacht. Please tell us more about this prestigious sale and what motivated you at this young age.This was one for the books. I had no idea what I was walking into, which was probably for the best, as I was fearless. I was immediately immersed in the super yacht market and quickly understood how sharp your elbows must be if you want to be successful in this industry. To this day, this transaction was one of the most challenging/rewarding transactions of my career. I am extremely thankful for this client seeing my potential at a young age and taking a chance on me. As you can imagine jumping right into the deep end is a sink-or-swim experience, and looking back it was the best thing that could have happened.<img src="https://photo-assets.superyachttimes.com/photo/261068/image/large-18e7f734a2b85125000602a5bb9ea28a.jpeg" data-gid="gid://syiq/Photo/261068"><img src="https://photo-assets.superyachttimes.com/photo/261608/image/large-5917b84e2776beac67d127605f51ba4f.jpg" data-gid="gid://syiq/Photo/261608">Are there any memorable sales spanning your entire career that you look back and think of fondly?While it’s challenging to pinpoint a specific memory, the experience of selling three <a data-gid="gid://syiq/Company/29" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Feadship (Company)">Feadships</a> 57-metre <a data-gid="gid://syiq/Yacht/5518" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Halo57.47m (188'7&quot;)Feadship2015">Halo</a>, Project 825, and 75-metre <a data-gid="gid://syiq/Yacht/6415" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Arrow74.98m (245'12&quot;)Feadship2020">Arrow</a> before I was 30 years old was a significant milestone. Every large transaction comes with its challenges, and they are all so different, which makes these sales the most rewarding. <img src="https://photo-assets.superyachttimes.com/photo/280609/image/large-3c6bb8f2948c7df507e822f595d0026e.jpg" data-gid="gid://syiq/Photo/280609">Are you noticing any recent trends in the market at the moment?It's no secret the boats keep getting bigger, greener, and more engaging. I love the direction the industry is headed, the market has ceased to stop, and I think we have cemented a place in the UHNW lifestyle.<img src="https://photo-assets.superyachttimes.com/photo/260990/image/large-36e99026908f916150e2c14d3263dba9.jpg" data-gid="gid://syiq/Photo/260990"><img src="https://photo-assets.superyachttimes.com/photo/261062/image/large-735def909209eae41856c49b657f5d7a.jpeg" data-gid="gid://syiq/Photo/261062">With a continual topic of conversation on sustainability within the yachting industry, how has this influenced your strategy when selling yachts and charters?Currently, our strategy concerning pre-owned yachts and charters remains unaffected. However, we are actively pursuing green initiatives with the yachts we manage under construction. Shipyards and project managers are now adopting a proactive approach, recognising that the vessels currently under construction will play a crucial role in meeting the future demand for sustainability.<img src="https://photo-assets.superyachttimes.com/photo/278703/image/large-9d845c6a56171712b7c3a292a64774c6.jpeg" data-gid="gid://syiq/Photo/278703">What is the most effective way to market a yacht in the current era of evolving technologies?We harness a pragmatic and targeted digital strategy custom to each yacht. Each yacht comes with its unique challenges and opportunities, and therefore, we identify the value and effectuate an action plan accordingly. <img src="https://photo-assets.superyachttimes.com/photo/261606/image/large-7f009089d739b48bd0010e0581268e99.jpg" data-gid="gid://syiq/Photo/261606">You have gone on to found <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>; how did this business venture come to fruition?Simply put, there was a meeting of the minds, shared values, and desire to effectuate change. My partners and I came together over a complicated deal and learned about one another’s ability to navigate adversity. From that point on, we just needed a name.Rejecting the notion of accepting the status quo, we questioned everything to discover better ways. Recognising the need for a fresh perspective within a legacy industry, we embarked on a journey to bring about positive change.Read more:&nbsp;<a data-gid="gid://syiq/Article/53942" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Interview exclusive: “We make it personal”, the founders of Kitson Yachts (2021-10-26 09:00:00 +0200)">Interview exclusive: “We make it personal”, the founders of Kitson Yachts.<img src="https://photo-assets.superyachttimes.com/photo/209769/image/large-2c6e24e4d0b1cd40160f74f076a00bf7.jpg" data-gid="gid://syiq/Photo/209769" style="box-sizing: inherit; border: 0px; font-family: &quot;Open Sans&quot;, sans-serif; position: relative; max-width: 100%; margin: 1rem 0px; color: rgb(0, 0, 0); font-size: 13.6px; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 0px; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-thickness: initial; text-decoration-style: initial; text-decoration-color: initial;"></a>You left a corporate company to develop a more family-approach brokerage; what does this mean to you, and what would you say is the key to success for <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>?This is a personal and relationship-based business, and <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a> has allowed me to deliver a personal approach; I don’t have to play by others' rules and therefore, I can express myself through my work to connect with clients. <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a> has provided me with a platform to deliver my best to each client. We take a hyper-focused and analytical approach, guaranteeing a one-of-a-kind experience and serves me the confidence that nothing is left to chance.<img src="https://photo-assets.superyachttimes.com/photo/261605/image/large-0290d7e00f859378502b05e3c701e0e3.jpg" data-gid="gid://syiq/Photo/261605">What is on the horizon for <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>?We are currently in an expansion mode, and our focus remains steadfast on continuing to augment our team, with a near-term focus on our charter department.How have you grown your team in recent years, and what type of person do you look for in an employee?We consider our team Family, and thus culture and value alignment are key. Our primary focus is on finding capable individuals who possess a strong willingness to learn, adapt, and above all, exhibit trustworthiness. By prioritising these qualities, we aim to build a cohesive and high-performing team to support our continued success. <img src="https://photo-assets.superyachttimes.com/photo/260981/image/large-7139591ee441b09b8f4c3738d867da39.jpg" data-gid="gid://syiq/Photo/260981">What is one piece of advice you would give to someone looking to purchase their first yacht?If you are considering purchasing your first yacht, my top advice would be to clearly define your intentions and purpose for the yacht. Consider where you plan to primarily use it and if chartering is part of your plans. Asking yourself these questions is crucial.<img src="https://photo-assets.superyachttimes.com/photo/261616/image/large-78cd64cba1355364cd241667a8306a8e.jpg" data-gid="gid://syiq/Photo/261616">You have entered the charter market. Do you have any advice for those looking to charter a yacht?For those considering chartering a yacht, my foremost advice is to enlist the services of a charter broker. A charter broker’s primary role is to find the perfect match of yacht and crew for your needs, making effective communication with them essential. They will delve into your preferences, dietary restrictions, likes, dislikes, and preferred activities to create a tailored experience.<img src="https://photo-assets.superyachttimes.com/photo/260982/image/large-5e0b5d0e908101ee7bd0fdc789fd82b9.jpg" data-gid="gid://syiq/Photo/260982"><img src="https://photo-assets.superyachttimes.com/photo/260977/image/large-8f6d5719edca46c45cf34fc90675fbdb.jpg" data-gid="gid://syiq/Photo/260977"><img src="https://photo-assets.superyachttimes.com/photo/261615/image/large-05260427450aa1e9286fbcfa8bcdf3b2.jpg" data-gid="gid://syiq/Photo/261615">Of course, networking is incredibly important in the yacht industry. What piece of advice would you give to an aspiring yacht broker?I would emphasise the significance of networking in person to an aspiring yacht broker. At <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson</a>, we pride ourselves on staying in front of our clients as best as possible. Go the extra mile to make the in- person meeting as this is truly yachting is a highly personal and emotional experience. Building strong connections and relationships with various industry professionals is also crucial. Be proactive in reaching out to yacht owners, captains, brokers, and other key players to establish meaningful connections. <img src="https://photo-assets.superyachttimes.com/photo/260974/image/large-f1e8b48e26a0d27ba58c76493eef2e60.jpg" data-gid="gid://syiq/Photo/260974">Finally, what would you opt for if you personally purchase a superyacht within the current market?I would focus on the new construction market. The process of building your custom superyacht is unmatched. The act of a shipyard, brokers, interior/exterior designers, and project managers all coming together to form one masterpiece is something special. I would engage the entire family and customise every aspect of the build to our personal liking. The more involved everyone is typically the better experience. This is a real-life goal for me and I look forward to making this a reality.&nbsp;<img src="https://photo-assets.superyachttimes.com/photo/278575/image/large-bf44b5b97eafa2a325de6dbe6f9b6a2a.jpeg" data-gid="gid://syiq/Photo/278575">

Broker insights with Kitson yachts Brandon Kummer

Superyacht Times sat down with the entrepreneur broker, Brandon Kummer to learn more about his journey into yachting. 

Broker's Insight: Brandon Kummer, co-founder and broker at Kitson Yachts

<a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a> and <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA The Worldwide Yachting Association</a>, are teaming up for an exclusive two-day educational event at the prestigious <a data-gid="gid://syiq/Company/4337" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Club de Monaco (Company)">Yacht Club de Monaco</a> on May 10 and 11. <img src="https://photo-assets.superyachttimes.com/photo/63648/image/large-ae12fed61d617bf6256c8890db67a3e6.jpg" data-gid="gid://syiq/Photo/63648">Day one will kick off with an exciting speed dating session, where brokers and shipyards can engage in one-on-one conversations with 12 of the industry's most top-tier shipyards and refit facilities. Renowned names such as <a data-gid="gid://syiq/Company/23" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Lürssen Yachts (Company)">Lürssen</a>, <a data-gid="gid://syiq/Company/18" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Amels (Company)">Amels</a>, <a data-gid="gid://syiq/Company/224" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Turquoise Yachts (Company)">Turquoise</a>, <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a>, <a data-gid="gid://syiq/Company/681" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Monaco Marine (Company)">Monaco Marine</a>, <a data-gid="gid://syiq/Company/5172" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Cantiere Rossini (Company)">Cantiere Rossini</a>, and <a data-gid="gid://syiq/Company/1158" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Sunreef Yachts (Company)">Sunreef</a> will share insights into their capabilities, providing a unique opportunity for the yacht brokerage and management community to interact with them all in one place. After a sumptuous buffet lunch, the afternoon seminar will delve into crucial topics such as newbuild and refit, featuring a contract discussion with top attorneys from around the yachting world, sustainability, insurance challenges and solutions, and design considerations, led by renowned industry expert <a data-gid="gid://syiq/Company/82" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Espen Øino International (Company)">Espen Øino</a>. The motor yacht <a data-gid="gid://syiq/Yacht/9056" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="White Rose26.78m (87'10&quot;)Azimut Yachts2019">White Rose</a> will also play host to an evening cocktail event, culminating in a memorable close to the day. <img src="https://photo-assets.superyachttimes.com/photo/269310/image/large-bfb9fb0c23f4b0024e38b217cca2767b.png" data-gid="gid://syiq/Photo/269310">On day two, the focus will shift to yacht sales, charter and the law, bringing together an impressive array of presenters and panelists from across the globe to discuss a range of topics, including <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>/<a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> charter and sales contracts, superyacht marketing with <a href="https://www.superyachttimes.com" rel="noopener noreferrer" target="_blank" title="">SuperYacht Times</a> own Merijn de Vaard, Mediterranean destinations, and much more. This event promises to provide unparalleled insights and networking opportunities for anyone interested in the yachting industry.<img src="https://photo-assets.superyachttimes.com/photo/269307/image/large-e3ccb9213c561dacb587dffbf6fd93c8.jpg" data-gid="gid://syiq/Photo/269307"><img src="https://photo-assets.superyachttimes.com/photo/269311/image/large-31e507584f4f6101d7528f75e837f8ce.png" data-gid="gid://syiq/Photo/269311">“I am excited about this collaboration between <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> and <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a> for both the overall long-term benefits for the industry and for this event becoming a favoured staple in the industry's annual calendar. It’s been a pleasure working together, pooling our resources and contacts to pull together an impressive and interesting line-up for the two-day event,” states Rob Dolling of <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">MYBA</a> <a data-gid="gid://syiq/Company/2717" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="MYBA - The Worldwide Yachting Association (Company)">The Worldwide Yachting Association.<img src="https://photo-assets.superyachttimes.com/photo/269306/image/large-983e9f11700cabad79e6331907c5c608.png" data-gid="gid://syiq/Photo/269306"></a>

 IYBA and MYBA exclusive event at Yacht Club de Monaco

 IYBA and MYBA, are teaming up for an exclusive two-day educational event at the prestigious Yacht Club de Monaco on May 10 and 11.



IYBA and MYBA partner for an exclusive educational event at Yacht Club de Monaco

The 2nd annual <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show - 2022">Caribbean Charter Yacht Show</a> drew to a close this weekend at <a data-gid="gid://syiq/Company/806" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Yacht Haven Grande Marina (Company)">Yacht Haven Grande Marina</a> in St Thomas, U.S. Virgin Islands. The four day event, dedicated to serving the needs of charter and yacht brokers, ran from 8 to 11 December welcoming brokers and clients from around the globe. <img src="https://photo-assets.superyachttimes.com/photo/251635/image/large-05a239fb7aed042350c32be355a883dd.jpg" data-gid="gid://syiq/Photo/251635">The 2022 <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show - 2022">Caribbean Charter Yacht Show</a> saw almost 100 brokers and managers flock to the fourth time destination winner of ‘Superyacht Marina of Year,’ with attendance of yachts up by 30 percent from last year.<img src="https://photo-assets.superyachttimes.com/photo/251642/image/large-22b5f018e1199be6a821736df06c470a.jpg" data-gid="gid://syiq/Photo/251642">The show is held in partnership with the <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association (IYBA)</a> and COO Paul Flannery was impressed with the 2022 outcome. “We are all quite pleased with the results of this year's show. We will continue to strive to bring events that meet the needs of the community.”<img src="https://photo-assets.superyachttimes.com/photo/251639/image/large-3d49bdc318dc3408a9073cd355f68ca1.jpg" data-gid="gid://syiq/Photo/251639">The show features a luxurious in-person experience for both attendees and crew, with the marina capable of berthing vessels up to 200-metres in length. Some of this year’s attending yachts included the 51.2-metre yacht <a data-gid="gid://syiq/Yacht/594" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Helios 251.2m (167'12&quot;)Palmer Johnson Yachts2002">Helios 2</a>, <a data-gid="gid://syiq/Company/212" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Benetti SpA (Company)">Benetti’</a>s motor yacht <a data-gid="gid://syiq/Yacht/593" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Next Chapter55.3m (181'5&quot;)Benetti SpA2003">Next Chapter</a> and the 24.4-metre sailing yacht <a data-gid="gid://syiq/Yacht/11619" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Seaclusion24.4m (80'1&quot;)Sunreef Yachts2020">Seaclusion</a>. <img src="https://photo-assets.superyachttimes.com/photo/251641/image/large-edb54c1d6ca699c9ae6734789a899997.jpg" data-gid="gid://syiq/Photo/251641"><img src="https://photo-assets.superyachttimes.com/photo/251638/image/large-7a1d590972b14268bc4979bfadfebbff.jpg" data-gid="gid://syiq/Photo/251638">The <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show - 2022">Caribbean Charter Yacht Show</a> organisers arranged a diverse range of events for guests to enjoy including nightly entertainment, a variety of cuisines and a crew party on the final evening of the show. The planning process for next year's event is already underway with the show dates due to be released soon.<img src="https://photo-assets.superyachttimes.com/photo/251637/image/large-8f76abbc18a81fb56da082c0fcabf616.jpg" data-gid="gid://syiq/Photo/251637">

Second Caribbean Charter Yacht Show

The 2nd annual Caribbean Charter Yacht Show drew to a close this weekend at Yacht Haven Grande Marina in St Thomas, U.S. Virgin Islands. 

Second Caribbean Charter Yacht Show is a success

Daphne D'Offay, Senior Charter Manager at <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a>, has been in and around boats for many years, first as a stewardess, then as a broker. In 2009 she joined <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> and has been an active member of IYBA for sixteen years. Francesca Webster caught up with Daphne during last week's <a href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Palm Beach International Boat Show - 2022">Palm Beach International Boat Show</a> to find out a little more about the state of the charter market in 2022. <img src="https://photo-assets.superyachttimes.com/photo/221844/image/large-8b69f470244af618c496e6c01245daee.jpg" data-gid="gid://syiq/Photo/221844">Tell me your story, how did you get into yachting?I was born and raised on the water, originally from South Florida my parents owned a 30 foot Hunter sailing yacht and we spent most of our spare time on the water. Like many people who grew up around boats, I tried to work elsewhere training as an Occupational Therapist, but I felt landlocked and came back to Florida to explore other options. My mum had worked in yacht brokerage and ended up needing some help during a boat show – the rest is history really!I first worked on boats, and then Kent Chamberlain gave me a shot with <a data-gid="gid://syiq/Company/659" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Chamberlain Yachts (Company)">Chamberlain Yachts</a> and that was my very first job ashore. I began as an assistant to Kent and he really allowed me to try a lot of things and learn on my own.&nbsp;When his charter broker left I took over a few boats, and really learnt how to operate on that side of the market. The team at Chamberlain Yachts gradually grew and I had gained some great connections who helped me in those early years. <img src="https://photo-assets.superyachttimes.com/photo/99385/image/large-dd480f5183fe121538f81013c23b7cb8.jpg" data-gid="gid://syiq/Photo/99385">What was it about charter brokerage that appealed to you over sales?For me it was the travel, wanderlust aspect. I came from the position of crew and have done a lot of travelling over the years with my family and as such I felt confident that I knew that sector very well, versus the technical side. I wouldn't say I'm a sales person, even though I'm in a sales business; I can talk about charter very openly, honestly and transparently without that having to lead to a sale. That type of conversation comes very naturally in charter, because clients want to travel and have the passion to do so, if a client doesn't like one boat that isn't really a problem because there is always another, better suited vessel out there, which is not always the case with sales. &nbsp;<img src="https://photo-assets.superyachttimes.com/photo/99386/image/large-c25860de668f42910f032be8f6d5004a.jpg" data-gid="gid://syiq/Photo/99386">When a client comes to you and says "I want to charter in the Med but i've never been on a yacht" how do you find the perfect vessel for them?It is really about asking the right questions. If you don't have a real standard for how you approach a client and get all of the information from them in a conversation, you will never find the right fit and there will always be things you miss. I also think experience is really integral in this industry.One of the best things about <a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a> is that we have such a large team that works well together. If a new client approaches you and is looking for something that you don't have experience in, there is a real flow in the company of assisting one another and moving clients to brokers who have more experience is that area. <img src="https://photo-assets.superyachttimes.com/photo/99383/image/large-30fa0a64275b752464a18cf72428c5b4.jpg" data-gid="gid://syiq/Photo/99383">You are in your 13th year at&nbsp;<a data-gid="gid://syiq/Company/136" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Ocean Independence (Company)">Ocean Independence</a>, what drew you to this brokerage house?I was very lucky to begin my career under Kent, he was a great mentor, but I wanted to know more about global regulations vs just local. As I mentioned before there is a lot to be said about working for a large and dynamic brokerage house because there is a massive amount of expertise under one roof. This really ensures that our clients receive the best possible service, both in sales and charter.&nbsp;What would you say are the biggest challenges facing charter brokerage in 2022?For one inventory, many yachts have been taken out of charter due to either sale, or their owners wishing to move the vessel into private use. That has meant a few very strong charter yachts have left the market over the last year. This has really been exacerbated by the massive uptrend in demand for charter which means that many yachts are booked out for the coming seasons, both in the Med and in the Caribbean.Another major issue we have faced in the US is that as of November the British Virgin Islands have created a regulatory application for charter licensing in its waters, and yachts have been fined for not having their permits. The result is that many yachts have abandoned the BVIs, or are on a waiting list for months at a time meaning that they miss the season completely. &nbsp;The result is that we have turned to the Bahamas as an alternative, and while the Bahamas are beautiful, they haven't always had the same demand as the BVIs. The Grenadines have also benefitted but the islands are a little further away for US charter clients. <img src="https://photo-assets.superyachttimes.com/photo/99384/image/large-88737caf5328018e1a97099974f01f7e.jpg" data-gid="gid://syiq/Photo/99384">Finally, what do you think is the secret to gaining and retaining charter clients?Knowledge is really important but you also need to have an open personality that allows people to share their experience honestly – feedback is how you learn. You aren't just selling someone a commodity and walking away, you're hand holding all the way through and personalising it. The only way you can do that is by knowing all of the people involved, the destinations, and the people on the ground to make sure everything moves smoothly.&nbsp;

Interview with Daphne D'Offay

We caught up with Senior Charter Manager Daphne D'Offay of Ocean Independence.

Daphne D'Offay of Ocean Independence on making it in yacht charter

SuperYacht Times Synopsis February

The SuperYacht Times Synopsis, as brought to you by SYT iQ, gives you the rundown of the top business stories and market reports from last month.  

SYT Synopsis: Leading news from February 

After a year of record-breaking order books, what does 2022 hold for the superyacht sector? We spoke with Paul Flannery, Chief Operating Officer of the <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">International Yacht Brokers Association (IYBA)</a> and <a data-gid="gid://syiq/Company/6626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centtrip (Company)">Centtrip</a>’s Director of Marine and Aviation, Edward Majdalany to get a business-end view of what the future holds.<img src="https://photo-assets.superyachttimes.com/photo/217758/image/large-a15c37491c704f01a2319af85fc91d39.jpg" data-gid="gid://syiq/Photo/217758">From dock boy to broker, via a 500-tonne USCG Masters licence, Paul Flannery has spent his life in the marine industry. Today, as <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>’s COO, he enjoys an international view across all aspects of the sector he loves. As we speak, the industry has come through a tumultuous period from the initial dread of a world in lockdown to a boom for boatyards and brokers.<img src="https://photo-assets.superyachttimes.com/photo/217757/image/large-16f2a31e66831110eebb38a6a9a97433.jpg" data-gid="gid://syiq/Photo/217757">Changing perspectives on superyacht ownershipThe Covid-19 pandemic, Flannery believes, has helped change the image of the superyacht sector. “Prior to Covid, there was a tendency for people to look at a yacht and wonder, ‘Who did the owner rob to afford that?’ It’s a mindset that has come from media, movies and video games. When James Bond lands on a superyacht, it isn’t because the owner’s going to save the world, it’s because a villain wants to blow up the world. When you reach the highest level of Grand Theft Auto, your prize is a yacht. Neither image promotes yachting.”“But, with Covid,” he continues, “the world has recognised that yachts offer an opportunity for families and close friends to be together in an environment that is isolated, yet communal.” It’s a perspective that has changed how potential owners relate to yacht ownership, says Flannery.“People have learned that they can get on a boat with their family and a tutor and a satellite dish, and they can run their business and raise their family in relative isolation, surrounded by more enriching experiences than anywhere else on the planet.”That’s driven sales, of course, but it is also influencing designLuca Boldrini, partner in the interior design company <a data-gid="gid://syiq/Company/4308" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="FM Architettura (Company)">FM Architettura</a>, <a data-gid="gid://syiq/Article/53570" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="A human approach: FM Architettura d'Interni (2021-08-19 11:30:00 +0200)">was quoted recently saying</a>, “Yachting has changed and it’s evolved from being a status symbol to a vehicle for your life and this has been accelerated by the pandemic because they’ve become more of a place for family.”<a data-gid="gid://syiq/Company/6626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centtrip (Company)">Centtrip</a>’s Edward Majdalany agrees. <a data-gid="gid://syiq/Company/6626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centtrip (Company)">Centtrip</a> is the leading provider of multi-currency payment, treasury and expense management solutions to the superyacht sector. It supports over 70 percent of the very largest charter superyachts and a fast-growing portfolio of private boats. In his five years with the business, Majdalany has seen the market grow and change.“Yachts are travelling further and for longer,” he says. “At <a data-gid="gid://syiq/Company/6626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centtrip (Company)">Centtrip</a>, we see that reflected in the use of a wider range of currencies. It’s visible in the charter market, too. Not only are the largest boats fully booked for this year and into 2023, but they are being chartered for longer periods – three or four week expeditions, rather than a seven-day jaunt.”<img src="https://photo-assets.superyachttimes.com/photo/217711/image/large-2d27ab4d133ef0e49d8d9c266d92c021.jpg" data-gid="gid://syiq/Photo/217711">Exploring new horizons, addressing new concernsWe’ve seen the surge in interest in destinations beyond the Med and the Caribbean. As reported in Superyacht Times,<a data-gid="gid://syiq/Article/54457" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Explorer yacht La Datcha in Antarctica (2022-01-21 08:00:00 +0100)">&nbsp;the explorer yachts La Datcha and Naia were both recently seen in the Antarctic</a> whilst <a data-gid="gid://syiq/Yacht/6031" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Olivia O88.51m (290'5&quot;)Ulstein Verft AS2020">Olivia O</a>, <a data-gid="gid://syiq/Article/54413" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Explorer yacht Olivia O in St Barths (2022-01-13 08:00:00 +0100)">designed for the North Sea, was seen in the more benign waters of the Caribbean.</a><img src="https://photo-assets.superyachttimes.com/photo/216163/image/large-6d534ab187497a8d1e15b5b822127fc4.jpeg" data-gid="gid://syiq/Photo/216163">Flannery sees this as an important aspect of the superyacht market in its own right, but also for driving focus on sustainability. “The increased interest in remote and unspoiled destinations has spurred a focus on sustainability and eco-friendliness because the world’s wealthy are not interested in going to the far reaches of the planet, trampling all over it, spilling oil, and leaving empty plastic bottles,” he says. “They want to go in, and see, and slip out again invisibly.”The superyacht version of take only memories, leave only footprintsUltra-high net worth individuals (UHNWIs) want to see what’s never been seen – the “explorer” aspect – and they also want to bring that information back for the good of humanity, says Flannery. That same scientific mindset and eco-concern is key to driving greater sustainability within the sector.As Paul Flannery says, “It is the world’s ultra-high net worths that are willing to invest in bleeding edge technologies. They don’t want to feel guilty about their pleasures and they’re trying to figure out a way to use their wealth to good purpose.”That view was reinforced at last year’s Explorer Yacht Summit where <a data-gid="gid://syiq/Company/2985" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="EYOS Expeditions Ltd (Company)">EYOS Expeditions</a> founder Rob McCallum noted, “They’re [new owners] making money younger and have more length of life to enjoy their investments. Owners want to minimise their footprint; they don’t want to be greedy about exploring, but to tread lightly and make a difference. They do this through science, conservation, development and encouraging sustainability.”<img src="https://photo-assets.superyachttimes.com/photo/209523/image/large-9d76b2895138f2cd4903261dfc9a86c2.jpg" data-gid="gid://syiq/Photo/209523">What will that look like in reality?The drive for sustainability can be seen in all aspects, from the renewed popularity of sailing yachts (like the 106.7m <a data-gid="gid://syiq/Yacht/4795" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Black Pearl106.7m (350'1&quot;)Oceanco2018">Black Pearl</a> and <a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s soon-to-launch Project <a data-gid="gid://syiq/Yacht/7500" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco Y721127.0m (416'8&quot;)Oceanco2022">Y721</a>) to growing demand for hybrid propulsion and Fast Displacement Hull Forms (FDHF).“You can see the change in different construction materials, different propulsion, different design for greater efficiency. It’s an initiative that has truly taken hold,” Flannery observes. “These changes start right at the top, with the buyer,” Majdalany says. “Their concerns drive the changes in design and construction. And there’s a healthy degree of competition, too. Where once owners might have boasted about size or power, they now compete on their yachts’ green credentials.”Naval architects like <a data-gid="gid://syiq/Company/82" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Espen Øino International (Company)">Espen Øino</a> are promoting more streamlined designs while <a data-gid="gid://syiq/Company/375" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Baglietto S.p.A. (Company)">Baglietto</a>’s B-Zero project is exploring the use of solar panels to extract hydrogen from seawater.<a data-gid="gid://syiq/Company/5565" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="The Italian Sea Group (Company)">&nbsp;The Italian Sea Group</a> has recently announced the installation of over 5,000 solar panels in its shipyard to reduce its CO2 emissions by 1,200 tons per year.<img src="https://photo-assets.superyachttimes.com/photo/103511/image/large-a012e6fefc1ffda667b5e2f87552fd09.jpg" data-gid="gid://syiq/Photo/103511">Sustainability will be the biggest trend affecting the superyacht sector in the coming year, Flannery feelsIt will also be its biggest challenge. Last year, the Spanish superyacht refitting &nbsp;group MB92 released a report – The Future of the Oceans – that called for serious change. “The cost of inaction is evident and will be extremely dire for our oceans and industry,” MB92’s president and CEO Pepe García-Aubert said at the time.&nbsp;MB92’s report emphasised that the next 10 years will be crucial for the future of the oceans, but it also highlighted how the industry’s innovations can and will flow down through the rest of the maritime sector.<a data-gid="gid://syiq/Company/64" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco (Company)">Oceanco</a>’s <a data-gid="gid://syiq/Yacht/7500" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Oceanco Y721127.0m (416'8&quot;)Oceanco2022">Project Y721</a>, widely published to belong to a American tech entrepreneur, is perhaps an example for the future. As Flannery says, “Whoever does own that boat has gotten really serious about making it as technologically impactful and environmentally friendly as possible, and that’s the case with all of these big boats.”&nbsp;“<a data-gid="gid://syiq/Company/6626" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Centtrip (Company)">Centtrip</a> supports many of the largest yachts in the global fleet,” Majdalany says, “and we see the trend towards exploring pristine destinations in an eco-friendly fashion. Whether we’re providing those boats with multi-currency cards and international payments, or – in a small way – supporting sustainability through paperless payments, we are meeting the demands of a demanding and eco-conscious market. Driving wider awareness of our precious planet and doing so in a sustainable way is vitally important and it’s fantastic to see the superyacht sector taking this seriously.”This article has been written by Centtrip, in collaboration with SuperYacht Times

Paul Flannery and Edward Majdalany on the future of yachting

Paul Flannery of IYBA and Edward Majdalany of Centtrip discuss the future of yachting.

Where next for the superyacht sector?

Standing dockside at the <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Monaco Yacht Show</a> with the team of <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>, I was immediately struck by the open-minded, honest and professional attitude of the three men standing in front of me. Founding their brokerage <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> in 2021, Michael Tabor, Brandon Kummer and Tony Imbesi are bringing something fresh to the brokerage market and with impressive sales already under their belts, it's clear the industry has welcomed them with open arms. I caught up with the trio to find out a bit more about how <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> came into being, what assets they bring to the table and why they are confident that their success will only continue. <img src="https://photo-assets.superyachttimes.com/photo/209768/image/large-528a90c752fb7f334ea95bb0bf3c4000.jpg" data-gid="gid://syiq/Photo/209768">So let's start off with the backgrounds in yachting, how you came together and what you each bring to the table...Brandon:&nbsp;I started my career in the marine industry at 18 years old building centre consoles in the facilities of Century Boats before I began working at Boat Shows, which is where I found my true passion for yacht sales. Shortly after graduating from Florida State University, I took a job at the largest publicly traded recreational boat dealer, where I quickly learned the business side of yachting. After learning the corporate structure of yachting, I transitioned into superyacht sales and became the youngest broker ever to sell a 62-metre superyacht, which then led me to be voted the top young professional under 40 by the <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>.&nbsp;Michael: I come from a third-generation shipbuilding and brokerage family. My grandfather started <a data-gid="gid://syiq/Company/5309" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Grand Banks Yachts (Company)">Grand Banks</a> and I grew up around the building and selling of yachts. Still, I wanted to study finance and went to Boston University, where I got a degree in insurance and financial management. After graduating, I spent 15 years working as an investment banker. Eventually, my love for yachts and the water pulled me back, and I joined one of the largest privately held brokerages companies in the U.S., which is where I met Brandon. We all came together through a really challenging deal that was in bankruptcy. I represented the buyer, Brandon represented the seller, and the yacht was in Tony’s marina.Tony: I come from a marine background via marinas. My family owns Bal Harbour Marina in South Florida, which I have been running for the last 10 years. I have built great relationships with a lot of clientele through the marina and yacht club and met Brandon, who had this challenging client, as Michael was saying, where the yacht had fallen into bankruptcy, and he had to sell it fast. Brandon reached out to Michael, who had a lot of buyers.&nbsp;Michael:&nbsp;And to add to the difficulty of the sale, it was right at the beginning of Covid, early 2020, and we managed to sell the yacht entirely through video, which was amazing to us at the time.&nbsp;Tony: So, by working together on that deal in 2020, we took stock and questioned why we were working separately rather than together, which is why we decided to launch <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> in early 2021. <img src="https://photo-assets.superyachttimes.com/photo/209770/image/large-4b321c8a54d9583f4425593c9a55aac4.jpg" data-gid="gid://syiq/Photo/209770">Can you tell me a little bit about the approach you take?Michael:&nbsp;We take a fresh, family-office approach with our clients, in which we handle all aspects of their yachting experience. We are very analytical, we listen to our clients, and we endeavor to work in their best interests. It really is all hands-on deck.&nbsp;Tony: It is a very personal approach. The clients become our friends outside of the brokerage life and, with many of them, I have built close relationships through the marina.&nbsp;Brandon: With Covid, many clients from New York and LA also relocated to South Florida, where we are well-connected, and they call on us.&nbsp;You and Michael left the same U.S. brokerage company about the same time last year?&nbsp;Michael:&nbsp;We did, Brandon and I were both top producers at our old firm and realised that we both shared a similar passion for superyachts, which is not necessarily the focus of the company we worked for. We also wanted to deliver to our clients this kind of bespoke family office approach. We take the pain out of buying a yacht and make it easy for our clients. It is very palatable and extremely transparent.<img src="https://photo-assets.superyachttimes.com/photo/209769/image/large-2c6e24e4d0b1cd40160f74f076a00bf7.jpg" data-gid="gid://syiq/Photo/209769">As a three, you are young guys, do you think this attracts clients? And are many of your clients newcomers to the industry?Michael:&nbsp;A large section of our clients are newcomers and we have been able to develop a program where we can take someone that is brand new to the industry and make them very comfortable and trust us to lead them in the right direction. We are completely committed to ensuring that, no matter the type of boat. We find the yacht that best fits the experience they are looking for. I think a lot of companies say that, but we deliver it.<a data-gid="gid://syiq/Article/53198" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="57m Feadship superyacht Halo sold (2021-06-18 16:30:00 +0200)">When you sold&nbsp;Halo&nbsp;earlier this year</a>, you told me that you’d been aware of it before she even came on the market – how did you achieve this foresight?Michael: It is funny because when we sold <a data-gid="gid://syiq/Yacht/5518" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Halo57.47m (188'7&quot;)Feadship2015">Halo</a>, people were shocked that we jumped straight into superyachts, but why not? I have a financial background, Tony has a real estate development background, and Brandon is a true expert in yachting and is great with people. There is no reason to be afraid of the industry; you just have to be transparent. At the end of the day, ask your clients questions and guide them correctly, be a fiduciary. We have the courage to know we are doing the right thing and, more importantly, we don’t mind calling the legacy brokers, be it Jamie <a data-gid="gid://syiq/Company/124" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Edmiston (Company)">Edmiston</a> or Jonathan Beckett and ask about the market. We believe in what we are doing, which sounds like humdrum, but in reality, it is confidence. What happens is that through the confidence to move forward and uncover off-market opportunities, we deliver a great service to our clients. We are a make it happen firm. <img src="https://photo-assets.superyachttimes.com/photo/165646/image/large-1bb84567d6a457d15a7671f3b4f06175.jpg" data-gid="gid://syiq/Photo/165646">And to Tony, what is your day-to-day role with&nbsp;<a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a>?I work on the relationship side of the business. By having the marina, I constantly meet people in the industry and their friends. Many of these individuals are involved in the industry, either as yacht owners or brokers, and I act as a connector, bringing <a data-gid="gid://syiq/Company/6336" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Kitson Yachts (Company)">Kitson Yachts</a> into their circles, and then, potentially in the future, we will be able to help them find a vessel.Is it mostly American clients that you are working with at the moment?Michael: It is about 50 percent American. We also have a lot of Latin American and some European clients. We travel back and forth to Europe to find the right yachts for our clients, no matter where in the world they are.In terms of selling a yacht via video alone, how does that work?Michael: Well, it starts with trust. It is the people that make this company and our individual relationships with the clients. We are inverting the traditional process, constantly pushing back to the client to find out exactly what they want, not telling them what they should have.&nbsp;Brandon:&nbsp;We listen. We are just advisors at the end of the day, and we can't force someone to buy a yacht. They trust us because we give it to them straight and are honest. On more than one occasion, we have heard from clients and top builders alike, “you aren’t like other yacht brokers,” and we take pride in that.So that leads to my next question, new builds, is that industry in your sight?&nbsp;Michael:&nbsp;It is a major focus for us, and we have a very big project currently in build, but sadly, we can’t share that with you just yet! It is a comfortable space for us, and we are delivering. We take our clients through a less threatening process, again the family office approach, which is very appealing. We also have that financial background and transparent approach, and we make the overall experience easy and fun.&nbsp;And what is next? Are you looking at charter and what would that look like?Michael:&nbsp;Charter is absolutely important to us. We will provide a hands-on service to our clients while working with other brokers and focusing on the pedigree of the yachts we offer. We want to strip away the competing interests, which is one of the challenges of a new company, in that you're dealing with bigger firms that have competing interests.&nbsp;How has the reception been? You mentioned you are confident to call on some of the best-established brokers out there…&nbsp;Brandon:&nbsp;Positive. In fact, it has been extremely welcoming. A lot of the established brokerages like what we are doing, and we are working collaboratively with many other companies. They like us because we ask questions and don’t try to pretend we know everything.&nbsp;Michael:&nbsp;There are no egos here, which works well with shipyards too. We work as a team, are enthusiastic, and bring a collaborative and non-combative approach to what we do.&nbsp;In terms of expansion, do you see your team growing with this current market?Michael:&nbsp;We do, but carefully. We work well as a team because we have the same ethics, philosophy and moral code and implicitly trust each other. That means that as we grow as a team, we will be very selective about who we do that with, and at the end of the day, we don’t need every client, we just need great clients that we take true and excellent care of.&nbsp;Brandon:&nbsp;We make it personal. It is all about our clients. They come to us with the genuine feeling that we care about them and their interests and with the excitement to build their next yachting experience. We are confident that if we continue to look after our clients in the right way, our company will be successful.&nbsp;

SYT exclusive interview with the founders of Kitson Yachts

Francesca Webster chats to the founders of Kitson Yachts Michael Tabor, Brandon Kummer and Tony Imbesi to find out about plans for the new brokerage.

Interview exclusive: “We make it personal”, the founders of Kitson Yachts

This article has been written by Bert Fowles, the Vice President of Sales and Marketing at <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a>, for the SuperYacht Times.For many years, the yachting industry has grappled with the position that global trade shows play in the industry, the challenges of reconciling the different needs of regional and international target groups and remaining relevant in an increasingly digitised environment.<img src="https://photo-assets.superyachttimes.com/photo/197274/image/large-c3e6e4c6e1e10a59d32012f46564164e.jpg" data-gid="gid://syiq/Photo/197274">Now, the pandemic has provided a natural opportunity for the industry to reconsider the role that trade shows will continue to play and what they will look like in the future. Here, Bert Fowles, the Vice President of Sales and Marketing at <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a>, explains why the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a>, which will take place from December 9th through 12th, 2021 at the Yacht Haven Grande in St. Thomas, USVI, will represent a shift away from the traditional rendition to the innovative role that trade shows will play in the yachting industry.Rethinking the traditional boat showLast year saw a shift towards virtual boat shows and digital initiatives to facilitate networking and marketing. The boat shows that did happen, did so in an online capacity, adaptable to disruptions and logistical hurdles such as country regulations and travel restrictions. In an industry – inherently tied to personal relationships traditionally curated through face-to-face meetings – the pandemic forced us to find alternative ways to foster these relationships in order to keep educating prospective, and current customers, about the joys of leisure boating. <img src="https://photo-assets.superyachttimes.com/photo/197272/image/large-51f94838ba5a128ba4ad0ac932839797.jpg" data-gid="gid://syiq/Photo/197272">However, this digital shift has made evident the importance that yacht shows carry for local, regional and national economies. From an external perspective, yachting trade shows have been a “must do” for international sales and marketing, as they provide superyacht companies and industry professionals the opportunity to continue promoting the enduring appeal of the yachting lifestyle and all it encompasses.<img src="https://photo-assets.superyachttimes.com/photo/197273/image/large-0ebc78a077d6b310ca6a08e1c545c3cd.jpg" data-gid="gid://syiq/Photo/197273">Customer attitudes, journeys to buyership and behaviours have morphed due to the pandemic. It proved the marine sector can’t rely alone on technology for lead generation or information distribution. Put simply, there will always be a need for human interaction and skilled yachting professionals to sell that dream. One of the essential assets of yacht shows is their huge potential for interaction and transformation. The year 2020 demonstrated that our social and physical environments are more fluid, and are therefore due some fresh positioning in a traditional trade show marketplace. Stakeholders have leaned into a more innovative, specialised boat show format that satisfies robust objectives and builds commercial goodwill.Despite the industry-wide digitalisation, the gap formed by the lack of in-person events cannot be entirely filled by digital events. For us at <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> and <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA</a>, it was obvious that the show must go on, but not necessarily based on full-on traditional practices.The inaugural edition of the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a> will be open to international charter brokers and will be tailored to the needs of the charter yacht community. It will show off their Caribbean offerings for the 2021/2022 season and provide opportunities to visit participating yachts, network with like minded peers, and get inside information about the best experiences available for their clients. Creating opportunities for interaction is earmarked for success as visitors help shape the experience by attending this debut yacht show.Yacht Haven Grande: A strategic Caribbean positionConceived in the spirit of innovation, the inaugural edition of the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a> will be an experiential showcase that will highlight some of the best superyachts for charter, world-class exhibitors, as well as educational seminars and vital information on local cruising grounds, logistics, supplies and shore support.<img src="https://photo-assets.superyachttimes.com/photo/197266/image/large-1d107e1da79629649a82d27a70497ccd.jpg" data-gid="gid://syiq/Photo/197266">The event will be hosted at the award-winning Yacht Haven Grande in St. Thomas. Due to its location in the USVI, a focal point in one of the most popular charter destinations during the Caribbean winter season, the superyacht marina is ideal for hosting the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a>. Capable of berthing vessels up to 200m (656 ft), Yacht Haven Grande will not only gracefully host 50 of the most notable superyachts for charter, but will also serve as an ideal environment for brokers, clients and crew with ample opportunities to network, socialise, recharge and explore.Tom Mukamal, <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a>’s CEO comments: “As the leading superyacht marina owner and operator, over the years <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY</a> has worked hard to provide a great platform for yachting businesses to connect with customers and each other and has implemented new, innovative and frankly more economical ways for all stakeholders to generate ROI.” &nbsp;The strategic location of the show in St. Thomas brings a distinct USVI theme. Many charter shows are carbon copies of one another, which lack the authentic touch of the local culture; in most instances, you would have no idea which country you were in unless you looked at the show name. Charter shows benefit immensely from being held in various locations globally because adding a community element to the show agenda via Caribbean-themed activities, seminars and entertainment which serve to enhance interaction, foster visitor engagement and have a higher economic impact locally.<img src="https://photo-assets.superyachttimes.com/photo/197212/image/large-201f14614f1ae42a83523a5c69aeca2c.jpg" data-gid="gid://syiq/Photo/197212">With an eye firmly on trends and development, <a data-gid="gid://syiq/Company/5903" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IGY Marinas (Company)">IGY Marinas</a> and <a data-gid="gid://syiq/Company/6362" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="IYBA (Company)">IYBA&nbsp;</a>are rewriting the charter show playbook with a forward-thinking event shaped by a distinct Caribbean sensibility. Most importantly, the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a> aims to go beyond being just another yacht show by resetting the boat show model and providing charter brokers with a unique experience to prepare them for the future.Preparing for&nbsp;<a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">CCYS</a>&nbsp;The first edition of the <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht</a> show will provide clients and yachting professionals with the opportunity to attend a unique event. Participants will have access to an array of benefits, such as:&nbsp;• Lower registration fees and dockage with no minimum stay period or high season premiums • Discounted hotel accommodation, special flight arrangements (including for the European community) and US visa support services • Easy access to view the world’s top superyachts • Welcome centre, VIP charter broker lounge and vendor promenade • Dynamic lineup of activities and entertainment with a USVI Caribbean theme • Strict health and safety measures due to a scaled down event<img src="https://photo-assets.superyachttimes.com/photo/197268/image/large-0ce939db92654b604d9bddff619d473b.jpg" data-gid="gid://syiq/Photo/197268">Event Overview:What: <a data-gid="gid://syiq/Event/113" href="#managed-by-system" rel="noopener noreferrer" target="_blank" title="Caribbean Charter Yacht Show ">Caribbean Charter Yacht Show</a> Where: Yacht Haven Grande, St. Thomas, USVI When: Thursday, December 9th through Sunday, December 12th, 2021 Who: Open to international charter brokers and 50 of the world’s best charter superyachts from 80-450 feet Why: Opportunity to improve and innovate from a traditional boat show format. A catalyst to build commercial goodwill, initiate charter business and stimulate the winter charter season.More details and the full show agenda will be provided over the coming months. To register for the event, please use the contact details below.

Introducing the Caribbean Charter Yacht Show

This December, the inaugural edition of the Caribbean Charter Yacht Show will take place, offering an innovative rendition of a yacht show.