Three of YPI’s recent sales were ‘off-market’ deals uncovered for our clients through know-how and networking.
January 2012 may not have gotten off to the strongest of starts with only nine yacht sales confirmed in the first four weeks of the year, but what is particularly interesting, is that two of them – the 37.79m Heesen CALAF and the 46m Feadship NORTHERN LIGHT, both YPI transactions – were yachts that were not even advertised as being for sale.
“They were deals put together because we knew exactly what our clients were looking for,” explains YPI Group CEO, Bertrand Vogèle. “And we knew where to find them.”
When acting for clients in the sale or purchase of a yacht, brokers spend a considerable amount of time getting to understand exactly what type of yacht the buyer is looking for depending on their budget, tastes and, of course, how and where they intend to use it. When acting for a seller, having a clear and detailed understanding of the yacht’s unique selling points and knowing what type of buyer might be interested by them, is vital.
“Of course our brokers are fully aware of all yachts within the various categories, styles and price ranges that are publicly advertised for sale,” continues Bertrand. “But it doesn’t stop there. Anybody can read the magazines and ask for the circulars – clients don’t need a broker for that. The real value to our clients is the people our brokers meet, know and network with – the ones who own yachts that aren’t for sale…unless the right offer comes along. The buyers waiting for the right yacht or perhaps one specific yacht to come up before they make any offer. Our brokers find the right buyers and the right yachts because of what and who they know.”
And at a time when clients are understandably focused on greater efficiency, cost savings and increased added-value in business, it is important that focus doesn’t become an exercise in cutting corners or essential costs.
“We have all seen our commissions reduced over the last few years,” admits Bertrand, “and to an extent, that had to happen. But it is important for clients that they realize what they are paying for and what they are entitled to receive from their brokers as a result of that payment. Brokers are not just the ‘ten-percenters’. They are there not only to refine their clients’ ideas about what they are looking for but to actively seek out those opportunities other buyers don’t even know about. And then, when the right matches have been found, they are there to make sure our clients are properly guided and advised on every aspect of that purchase or sale to make sure the transaction is as efficient, cost effective and pain free as it can be. Commissions are the reward that covers hard work and endeavour but also experience, know-how and years of networking. We are celebrating 40 years in this business,” smiles Bertrand. “After all that time, there are a few things and a few people we know that make employing our brokers very worthwhile.”