MYS 2018: A Broker's Guide to Owning a Superyacht
In just a little over a month, top superyacht builders; leading yacht designers; brokerage houses and clients will unite in the glamourous setting of Port Hercules for the eagerly awaited and renowned luxury yachting event in the world, the Monaco Yacht Show (MYS).
The 28th edition takes place from the 26th to 29th September and will not only present visitors a new layout for the exhibition but the show - year by year - offers a unique and exciting opportunity for clients seeking their next superyacht. Usually no stranger to the yachting industry; clients and first time buyers tend to have an idea of what type of yacht they would like to purchase or build.
Brokers play just one of the active roles throughout a client's journey of purchasing or building their next yacht. They have the ‘go to’ knowledge of what is already available on the market as well as in new-construction within build.
“60% of first time buyers have chartered and usually - by the time they’ve decided that they want to buy or build a yacht - they have somewhat experience by way of charter or through friends and family. Clients usually have an idea of what they like and what they don’t like. They may not necessarily be extremely educated on yachting itself, but they have an idea of what they are looking for!” Frank Grzeszczak Jr. comments.
“When a client either meets, calls or is referred to a broker, the most important thing from a broker’s standpoint is to listen to what the client wants.” continues Grzeszczak Jr. Broker’s alike will work closely with the client; first liaising about how the yacht is going to be used, how many will be onboard etc.
Brokers are then able to lead the client towards a specific project or specific yacht[s] they think will suit that particular client’s needs. “Every client is different, every yacht is different, it is the job of the broker to match the boat with the client” states Grzeszczak Jr. If a client comes to a broker with an idea he likes, the broker will discuss on-going projects, designs and trends and will match the client with a shipyard depending on size, budget and the type of yacht. Yacht shows such as the MYS are integral to this process.
Grzeszczak Jr. describes a superyacht as, “the most glamorous toy in the world” enforcing that “both the client and the broker do their homework… it’s a vehicle where their family will be spending a lot of time on, they want it to be enjoyable and safe”. He recommends clients speak to brokers first before going directly to shipyards. Brokers do not have any affiliation to any shipyard, they are not obliged to say one shipyard is better than the other.
With platforms like the Monaco Yacht Show fully dedicated to superyacht brokerage, including exhibits from luxury manufacturers, top-of-range service suppliers and the majority of top superyacht builders, designers and brokerage houses attending; clients and visitors alike are able to experience the process of buying or building their next yacht with expertise right at their doorstep.
Grzeszczak Jr. describes the show in more detail; “What’s great about the show is that the newest, most high end pedigree products are on display every year. They don’t allow the same boats to be repeatedly shown every year. Clients are able to fly in, meet with their brokers, see the newest, latest and greatest products out there in a busy environment. I believe the most new-construction contracts are signed from MYS out of any other show of the year. All the shipyards are there, they all have their best delivers there. It is an environment that creates energy!”
The Monaco Yacht Show is taking place next month at Port Hercules in Monaco from the 26th to 29th September.