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October 21, 2015

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November 4, 2015

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Member-to-Member
 

This is the place to include your news about recent sales, new hires, office expansion or other business updates and successes. And it's FREE!

 

Just send your news items by the 10th of the month along with any photos, to jthompson@ybaa.com
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 CPYB Recertification Credit Opportunities 

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

See the upcoming events here. 

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U.S. Brokerage Volume Rises for Third Month
By John Burnham, YachtWorld editorial director



In August, for the third month running, YachtWorld member brokerages reporting in SoldBoats indicated incrementally improved results. Sales were up 1 percent for the month compared to the previous August, with 2,908 boats sold.

Brokers selling sailboats did better than most, with a 3 percent volume increase with 527 boats sold. For the third quarter, to date, sailboat sales were up 4 percent, although they remained lower for 2015 by 3 percent, with 3,696 sold.

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What Does "As Is, Where Is" Really Mean in Yacht Deals?
By Andrew J. High, Esq.

Buyers, sellers, and brokers alike may be familiar with the terms "as is, where is" as they frequently appear in real estate contracts, yacht purchase agreements, and used car or motor coach deals. The phrase is most commonly seen as caveat emptor or "let the buyer beware." In the yachting industry, the language is common in many standard brokerage purchase and sales agreements. Even where the language "as is" does not appear in yacht brokerage purchase and sales agreements, parties will often find a similar clause with the seller disclaiming any known or latent defects in the boat. Regardless of where it is found or how it is written, this language can be crucial to the purchaser of a used boat. 

In recent years, a high profile yacht purchaser discovered just how serious this language can be when he thought he was getting a "steal" on a brokerage boat. 

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Humility: The Most Powerful Paradox in Business
By Tom Reilly, author of The Humility Paradox (Motivation Press, 2015) 

Successful organizations embrace humility as a powerful paradox. What masquerades as meekness is really strength. The perceived weakness of this virtue is the source of its power. That is the paradox. Humility makes organizations strong. That, too, is the paradox. Strength comes from synergy.

Imagine a group of talented musicians playing different songs at the same time. It is noise, not music. Organizational noise happens when team members operate independently of the larger group. This could mean team members of the same department operating apart from other team members. It could mean different departments acting as if they were part of separate organizations. In each case, there is individual effort, not organizational energy. The result is silos. Silos cost U.S. businesses 3.6% of their top line annually.

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IBEX Innovation Award Winners Announced
 





During the International BoatBuilders' Exhibition and Conference (IBEX) Industry Breakfast this week, judges from Boating Writers International announced winners of the 2015 IBEX Innovation Awards. The 2015 IBEX Innovation 

Award winners are:

Boatbuilding Methods & Materials: Xtreme Tower Products/ Marine Accessories Corp., Mixed Media Parallel Hinge Tower
Deck Equipment & Hardware: Dowco, Easy-Lift
Furnishings & Interior Parts: Syntec Industries LLC, Elage
Mechanical Systems: Termodinamica SRL, Termodinamica VRV1
Electrical Systems: Bocatech Inc., BT1 5LEDSW-BF
Outboard Engines: Attwood Corporation, MotorGuide X5 with VRS
Propulsion Parts, Propellers: Mercury Marine, Flo Torq SSR-HD
Boat Care & Maintenance: Reverso Pumps Inc., Automatic Outboard Flushing System
OEM Electronics: Simrad-Navico, Halo Pulse Compression Radar
Honorable Mention: OEM Electronics: Medallion Instrumentation Systems LLC, Malibu Surf Band
Environmental Award: Blue Gas Marine Inc., Natural Gas Hybrid-Fuel System
 
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YachtCloser Launches New Financial Division
Jennifer Meyers Named YachtCloser Finance Manager 
YachtCloser, the leading web-based contract management system for the yacht brokerage industry and a CPYB Silver Sponsor, is proud to announce the launch of its new YachtCloser Financial (YCF) services division. YCF is fully integrated with the YachtCloser system to provide specialized, easily accessible financial services to yacht dealers and brokers and their customers. Through YCF, brokers and dealers have instant access to: 
  • Competitive loan programs offered by major lenders
  • Experienced marine finance officers with yacht brokerage knowledge
  • A custom-designed, mobile-friendly credit application for their company website to help drive traffic
As part of this announcement, YachtCloser is pleased to announce the appointment of Jennifer Meyers as Finance Manager for YachtCloser Financial. Meyers, who previously served as an account executive for Seacoast Marine Finance and as a sales executive for Offshore Financial Corporation, brings a unique blend of experience in both the yachting and B2B financial sectors to her new position at YachtCloser Financial.

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