An Interview with Boat Trader
The leisure marine industry has many different companies in many sectors selling a wide variety of goods and services to boaters and potential boaters. In this special interview, we talk to Boat Trader and explain why ‘Go Earth does it differently’. Something different Boat Trader: Martin, can you tell us a bit about why you started Go Earth Martin: There are two main elements to this; a link with the water and wanting to do something different – some ‘thinking outside the box’ – if you will forgive the cliché! Firstly, we have had a link to the water in one form or another for many years. We been boaters ourselves for over two decades, and I have been a scuba diver for four decades. Our daughter and son-in-law are both qualified PADI scuba diver instructors. I am also a dinghy sailor – or at least attempting to be! So, we got to know the vast variety of companies in the broad leisure marine industry. Next we decided to form a company – with something to do with boating. Initially we were not sure what exactly was wanted. One thing we were sure of – we did not want to do the same as everybody else. In a nutshell, we wanted to do something different that would ‘add value’ to the boating community. Boat Trader: What do you mean by ‘something different’? The art, craft and science of boat buying Martin: Frankly, at first we were not sure. So, we indulged in (cliché alert!!) some out of the box, blue-sky thinking. (Well, I did warn you about the clichés!) What we eventually realised was that we needed to do things that were of genuine value to boaters, which were not currently being done, and which we could deliver successfully. We did not want to be just another chandlery or another boat sales company or another training school. One thing that we kept on hearing was of people who were not quite sure what they wanted when they were buying a boat and how to go through the whole process. Brokers help, of course. However, they have to act for the seller, not the buyer. Therefore, a key element of our business is helping people with buying a boat, acting on behalf of the buyer, not the seller. Boat Trader: How do you do this? Martin: By becoming experts in boat buying. The concept is simple enough. Most people only buy one, two or three boats in their lifetime. They simply do not do it often enough to know all the things that should be considered when buying a boat. We go through the process time and time again with multiple clients, multiple brokers and multiple types of boats. As a company, we aim to be the expert ‘port of call’ (another cliché ?) for boat buyers. Requirements analysis Boat Trader: Is that all there is to it? Martin: No, not quite! As well as expertise, you need processes, tools and data to support the activity. As an example of a process, for our boat search, we typically spend some time with the client developing a ‘Requirements Analysis’. We talk to the client, find out what they are looking for, offer advice, and iteratively develop and improve the requirements analysis. This does require a bit of time and work up front; but – very importantly – it helps ensure that the client ends up with a boat that really does suit them and their needs. Note that this is the polar opposite of ‘Oh –I have just seen a nice boat – let’s buy it’. We start with the client, not the boat! Boat Trader: So the first step is the requirements analysis. What do you mean by iteratively? Martin: Sometimes, the client is not quite sure what they want. So – in our enhanced service – we might for example develop a requirements analysis, then do a boat search. After getting our written report, the client will think about it, might develop their thinking further, and might realise that they need something slightly different, or simply change their mind about some aspects of their requirements, or have a change in the budget they are willing to spend. We then (at absolutely no extra charge) change the requirements analysis and re-run the search for them. Boat Trader: What if they change their mind again? Martin: No problem. With the enhanced search, we will run the requirements analysis / boat search a third time, again at absolutely no extra charge. The important thing for us is that the client should not be locked into their initial thoughts. We want them to end up with a boat that really does suit their needs. Software tools Boat Trader: Earlier on, you mentioned that you used some ‘tools’ in your work. Martin: One of the tools that we use is some software that we developed in house. It holds an enormous database of brokers and others – UK and global – covering a vast range of budgets, boat types, locations and so on. During a boat search, we can input some key parameters from the requirements analysis and use that to query the database to identify the brokers that are likely to have boats that match the requirements. This database also includes, for example, user forums that sell boats, brokers who don’t advertise on the internet, some private sources, some not-so-well-known auction sites and so on. If you are searching for a superyacht, then you clearly need to focus on those brokers, not ones selling, say, narrowboats or river boats. The software helps us to this effectively and efficiently. Data Boat Trader: What about the ‘data’ bit? Martin: Easy – We accumulate masses of data inside our software. We use that
Deciding What You Want From Your Boat
Deciding what you want from your boat One of the challenges when buying a boat, especially if it is your first boat, is deciding what you want. At Go Earth, we call this process “Requirement Analysis” – a term unceremoniously nicked from project management and software development. Breadth of choice So – you know that you want to buy a boat – but what sort of boat? There are more varieties of boat than, say cars. This means that – if you are to make best use of your money and get a boat that you will enjoy for a long period – you need to give it some thought. Let’s look at some of the variety of choices you need to make. All cars, for example, have 4 wheels – unless you are Del Boy! (And for the younger readers, do a Google search on ‘Del Boy car’!!). Boats on the other hand can have one, 2, 3 or even more hulls. In fact some racing yachts hardly use their hulls, as they are on foils. What about motive power? In cars, the choice is between petrol, diesel and electric. However, they are all broadly similar in that their output is rotary power – turning wheels. The differences between the main ‘power units’ on a power boat (engines) and on a sailing yacht (sails) could not be more stark. What about Price range? Again, the differences are massive. No matter how hard you try, it is really very di ffi cult to spend more than (to take an extreme) £2 million on a car. It’s dead easy to do this for a boat. Trade-offs The main trade-offs to consider when purchasing a boat of any type are: Size Age Price Subsidiary trade-offs are Condition, including service history Brand Other factors, such as the inventory seem to pay only a very minor part. Sometimes, great electronics or the availability of a dinghy and engine may be a minor factor. As a purchaser, you need to decide on the relevant importance to you of these factors. Age matters In respect of these trade-offs, boat are similar to cars. The older the car, the cheaper it usually is. There are exceptions – some classic cars (what we used to call ‘old bangers’!) may appreciate in value. However, the general rule still applies – there is a depreciation curve showing how price falls at the boat gets older. At Go Earth we have records of asking, and sold, prices for many models; so let’s take one random example, the asking prices for a Fairline Targa 48. We did an analysis of average asking prices for this model, and this is what we found. Illustrative Prices – Fairline Targa 48 In the table, the first column is the year, the second is the asking price, and the third is the annual depreciation compared with a model a year younger. These prices may be only approximately typical, but they illustrate that (as with cars) the newer the boat the larger the depreciation hit. We find that once you get to the older boats, and if you buy wisely (using Go Earth’s negotiation services!), you can suffer zero depreciation for several years. Size matters There is, however, one big difference between cars and boats. Cars are all very broadly the same size. Even the largest SUV is probably only twice the size of the smallest micro car. The size difference in boats is immense. This leads to a major impact on price. As a very approximate rule-of-thumb, the price of a boat increases as the cube of its length (as a boat increase its size in all 3 dimensions). So, a boat that is twice the length of an other one, could be 8 times the cost. Given that all boats shrink when you put them in the water (yes, I know that does not literally happen – I just mean that a boat on hard-standing always looks bigger than when it is in the water), deciding on the size of boat is a very important part of the decision making around defining your requirements. Flybridge or Sports Cruiser? Let’s take just one specific example of the sort of decision you need to make. Suppose that you are in the market for, say, a power 38 to 42-footer. Two of the main styles of boat are flybridges and sports cruisers. Which suits you best? If you are going to do this comparison, it may be helpful to know the typical main characteristics of each type. This is a summary: Flybridge Depending on the brand, there may be a limited range of models. By having a flybridge, this usually gives you more overall deck space, as you have a deck on top. Easier to manoeuvre in a marina, as you can see mostly around you from the flybridge. Two helm positions. Arguably, more traditional looking. Need to cover the flybridge with a tonneau cover in inclement weather. Flybridge is a nice space to entertain in good weather. However, the steps up to the fl ybridge can be steep, though. Better view of the scenery and surroundings from the flybridge. Slightly more susceptible to side wind, owing to higher windage. Can make berthing the boat slightly trickier in open marinas with high wind Slightly more susceptible to side wind, owing to higher windage. Can make berthing the boat slightly trickier in open marinas with high wind Cruising in warm weather from the flybridge is very pleasant. At larger sizes, flybridges tend to be the most popular choices. Higher – therefore bridge clearance can be an issue, primarily in inland waterways. More expensive per foot length, owing to an extra deck (i.e. the flybridge); but possibly cheaper per square metre of deck space. Flybridges tend to have better galleys. Sports Cruiser Possibly a more extensive choice. Less deck space. Fixed point to steer from – possibly limited visibility at some angles. One helm position. Sleeker,
Spotlight on Boat Brokers
Who boat brokers represent The majority of the time, you will be buying a boat or yacht via a boat broker. There are some key issues that you need to be aware of. Firstly, the boat broker represents the seller; not you as the buyer. His prime legal and fiduciary responsibility is to the seller; and to sell at the highest possible price he can get. While many brokers are professional, you really must expect them to act for the seller; not for you as the buyer. You may want to ask questions of the broker. Often however, you cannot get the information, or at least the accurate information, that you need. There may be many reasons for this. It could be that the broker simply does not know, as he may have many boats on his books. It is possible – indeed probable – that the owner has not told the broker everything. You may see what looks to be the same boat advertised with several brokers. It could well be. Again, there could be several reasons. In some countries (e.g. Croatia) it is common for owners to place the boat with several brokers. Some brokers operate as a sort of franchise system, where different companies operate under a common name and share data, and boat listings with one another. This can work against you if you happen to go to the ‘wrong’ broker. Paper work and the contract Paperwork is another issue. Often the broker has not got all the paperwork necessary to understand the actual service history of the boat. You also need to ensure that the various invoices support any claim of a ‘VAT paid’ status – in extremis, you could find yourself with a very expensive VAT if this is not properly covered. Note that if anything goes wrong, you have very little come-back against the broker – he is acting only as the broker, not the seller. So it is a case of ‘buyer beware’. There are important issues with the standard contracts that many boat brokers use. Before you sign anything, or pay a deposit, we suggest that you have a word with us. Our view is that many (but not all) of these contracts are unfavourable to the buyer; and can tie you down to a purchase that is not in your interests. Protecting the boat buyer – buyers representative In this complex situation, this is where can assist. Because we understand the system and its complexities and nuances, we can act for you to help protect your interests. In particular, we act to get the boat of your choice at the lowest viable price. This is where our ‘boat negotiation‘ service is so (financially) valuable to you. In a nutshell, we act for you as the buyers representative. Next step? If you desire more information, then feel free to contact us for a no-fee, no-hassle, confidential initial consultation. Simply either complete the enquiry form or phone the experienced team on +44 (0) 33 33 05 8424. We look forward to hearing from you.
Boat Brands and Companies at Goodwood Festival of Speed
The 2019 Festival of Speed saw an exciting selection of boating companies exhibiting within the brand-new Marine Section. Go Earth Ltd Stand 248 Go Earth offers a variety of services to its clients who are considering buying a recreational boat. These range from an initial, no obligation advice and consultation right the way through the entire process until the client has taken possession of their new pride and joy. We act for the buyer, not the seller. Go Earth are known for their expertise and outstanding service to their clients, helping them procure boats or yachts with the minimum of risk, hassle, time and cost. As regular readers of Boat Trader know, Go Earth also contributes a number of knowledgeable articles each month to Boat Trader (and occasionally to other publications). They cover multiple aspects around buying a boat, and are intended to be genuinely helpful to the boat buyer. As Go Earth has curated a number of boating companies for the festival, they are offering a free advice tent. If you visit their stand (248), they will gladly provide you with a ‘goody bag’ full of useful information from the other boating companies, plus a free copy of Boat Trader. If you have any queries that other boating companies might be able to assist with, then they will helpfully point you in the right direction. Go Earth will also be showing its innovative automatic fender system. This system removes the hassle associated with deploying and storing fenders. Also, there will be some festival only very special deals on Indespension trailers – offering a significant discount. These trailers cover everything from boats to cars (including covered trailers) to motorbikes, and even livestock! Bates Wharf Stand 410 Bates Wharf are a very well-established family business based in London & the South Coast. They can offer a superb range of new and used boats from these prestigious recommended boat manufacturers: Fairline Chris-Craft Bayliner Brig Beneteau Sessa SACS RAND They offer a personal service, whether you’re buying your first boat or upgrading to your next one. Bates Wharf will provide a day to remember at the festival and welcome you to their boat showrooms. Bates Wharf pride themselves on their high level of customer service and with four established offices in Chertsey, Eastbourne, Poole & Southampton, which are all open seven days a week, you can view the boat of your choice every day! They look forward to meeting you at the festival. At the show they expect to be exhibiting Chris-Craft Launch 27 and Bayliner E5. Please feel free to come along and talk boats. Mercury Stand 403 The biggest and latest Mercury outboard engines will be showcased for the first time at this year’s Goodwood Festival of Speed, including the Mercury Racing Verado 400R and the new V8 platform released last year. Visitors to the Mercury stand will have the chance to get up close to the latest RIBs and tenders from boat builders such as Pascoe International and Axopar and benefit from expert technical advice; either from boat builders or the Mercury UK team. For more information, please see our additional article in Boat Trader magazine. Multihull World Stand 256 Multihull World is an international Yacht brokerage specialising in catamaran and trimaran sales, repairs, maintenance and training and was established over 30 years ago. MHW act on behalf of multihull owners seeking to sell their vessels and on behalf of buyers looking to enjoy the benefits of catamaran and trimaran sailing. The wide range of designs available, enormous variations in design criteria and specific features of each vessel make our experienced staff a highly valued asset in selecting the right boat for each buyer sailing agenda. They are all experienced, passionate multihull owners, each with over 20 years experience. This allows us to provide all the benefits of a professional brokerage service with an exceptional pool of knowledge on these sailing yachts. We sell new and pre-owned vessels, acting as sole new boat UK agents for Outreme and Rapier performance catamarans (both designs have won their respective classes in international yacht races) and Broadblue and Gemini cruising catamarans, designs which prioritise crew comfort and security above all else, together with Corsair trimarans, suppliers of fast and energetic performance trimarans. Each marque is outstanding in its own field. The Broadblue range is the only production catamaran still manufactured by a British Company – if you prefer to buy British then look no further!! We are all excited to introduce visitors at the Goodwood Festival of Speed to these high performance and luxurious sailing yachts. Boat Club Trafalger Stand 276 One of the most important things in life is making memories with family and friends, Boat Club Trafalgar helps you make that happen. Boat Club Trafalgar offers you Hassle Free, Unlimited Boating, for a simple monthly fee and as a member you have the choice of using a large range of premium boats anywhere within the Solent. You have all the fun of boating without the costs and responsibilities of being a boat owner. With our varied pool of boats we’ve got boats that will meet your needs for any occasion. Our dedicated team will take care of cleaning, maintenance, servicing, storage and insurance leaving you free to spend all your leisure time out on the water with no worries. Boat Club Trafalgar is convenient, just book online and once you arrive you simply get on board and drive away, it’s that simple, all you pay for is your fuel. We provide all the training and support that you need. Come and visit us on stand 276 to find out how you can enjoy boating, without the cost of owning at the same time have a coffee and find out more about our amazing one-off Goodwood Festival of Speed special offer! Dads’s Boats Stand 306 Introducing The Pedal Boat. A unique design, 50 years in the making, which allows two people to face each other and both pedal forwards in comfort.