Please email us below if you cannot find an answer to your question.
While many boat owners choose to market and sell their boats privately, thousands every year employ the services of a Yacht Broker.
At Breezeway Yachts we work hard for our clients to provide advice on pricing and preparing their boats for sale. We have a wide range of marketing avenues at our disposal, and we take the time to conduct showings at the convenience of the potential buyers.
Transactions are completed securely, from offer paperwork, to holding of deposits, to Bills of Sale to funds transfers.
If you want a hassle free experience, and advice that helps secure an optimized deal, you need a Yacht Broker like us.
Boat Valuations are not a simple matter. And the more complicated the boat, the tougher the job.
At Breezeway Yachts, we have the data to analyze comparable boat listings and sales, comparing and evaluating equipment, location and history of the boat, economic conditions and local demand.
All of this is on the basis of there being no 'hidden issues'. Any non-obvious flaws [structural, moisture, equipment defects] that would require operation of the boat, or a surveyor to identify, will significantly alter any Valuation.
Anyone can get a rough idea with a simple search of the local boat sales websites, but that needs to be combined with the other data including time on the market.
If you need a professional opinion, head to our Valuations page and send us some info. We can give you a range of values based on your boat details, which would serve as a starting point.
There is no one answer to this question. Market conditions change, demand for any given set of features changes, economic conditions change, supply levels change, and these this combines with the brand and age of the boat.
As part of our listing process, we evaluate the data for sales of similar boats and gauge from that, how long it will take to sell a given boat.
Certainly, the broader the exposure, the quicker a boat sale will happen. That's why, at Breezeway Yachts, we employ a broad range of marketing tools and channels to give our listing the best possible exposure.
The standard Yacht Brokerage Commission rate in North America is 10% of Selling Price.
Yes, this is higher than when selling a home for instance. Two factors are at play. The average home price in Ontario is much higher than the average boat price. We track boat sales monthly [and report on that in our Monthly Newsletter], and in Ontario the average selling price for a sailboat is traditionally between $80k and $90k. The average powerboat sale is typically between $140k and $150k.
The second factor is the size of the industry. The Used Sailboat and Powerboat markets combined in Ontario, through Yacht Brokers, is less than $100 million. In such a small market, our marketing costs alone as a percentage of revenue, are massive. And marketing is not our only cost.
With the service we provide and our efforts to maximize the sale price, we do believe that Sellers who utilize our services get good value.
Please email us below if you cannot find an answer to your question.
Purchasing a boat is not a difficult process and many successfully navigate it on their own.
A good Yacht Broker will bring a lot to the table, from evaluating fair value for a boat, to reviewing the survey with the client, confirming ownership of the vessel, and handling documents and funds securely.
In addition, when using a Yacht Broker to represent you in a purchase, the fee is paid by the seller from the sales commission, so take advantage of the service and value.
No.
There are a couple of scenarios here.
First, If you are buying a boat that is owned by a company [ie. a New Yacht or a Trade-In], the yacht dealer will have to collect HST at time of purchase.
Secondly, if you purchase a boat outside of Canada, the boat will be taxable upon entry to Canada. From the Transport Canada website:
" The Canada Border Services Agency (CBSA) will ask you for specific documents as well as information on the boat and the seller to confirm the sale and assess the duties and taxes on the boat. Before buying the boat, contact the CBSA to find out what you will need from the seller to bring the boat to Canada."
Consider working with a Customs Broker that has experience in importing vessels.
All purchases of privately sold, or brokered boats, are subject to tax, however it is not collected at time of sale.
The Canadian Border Services Agency will determine if a duty is payable. Boats manufactured outside of North America are subject to an import duty, generally 9.5% of the boat purchase price.
North American built boats are not subject to an import duty. But you will be expected to prove the country of manufacture, generally through a Certificate of Origin or Builder's Certificate. These are not difficult to obtain, if the builder is still in business. As an example, we were looking at importing an older model Hunter sailboat a few years ago. The Hunter brand had been sold off in the Luhrs bankruptcy. We contacted Marlow, the purchasers, and they claimed to not have any historical, pre-purchase, files. So no Certificate of Origin or Builder's Certificate. And note, builders will only ever supply one Builder's Certificate which will initially go to the dealer if they request it, and then to be supplied to the first owner.
There was some talk a few years ago about European boats being Duty Free. This applies only to New Boats, imported directly by a dealer. There are also additional restrictions to qualify for duty free status.
This question is addressed in our DOCUMENTS page, so please pop over there for a complete answer.
And note, that Licensed boats, Federally Registered boats, and US Boats all have different answers.
Quickly, the Owner of a licensed boat will have a paper copy of that Licence, indicating the Owner[s] name[s], Address, Vessel HIN and the Licence Number. This doesn't guarantee that they currently own the boat, just that they did at some point [they could have just sold it to someone else, before you arrived].
The Owner of a Federally Registered boat will also have a paper copy of that Registration. They will also appear on the searchable Federal Registration database [visit our DOCUMENTS page for more on this]. Again, this is not an iron-clad guarantee, but a new owner who transfers the registration promptly will show on the database, but that can take up to 8 weeks to be processed.
Breezeway Yachts was founded in 2016 to provide boat buyers and sellers with a higher level of care and service.
We offer you the benefits of dealing with a professional team of Yacht Brokers, experienced in New and Used boat sales. Your boat is an important asset. Trust us to handle the sale with the utmost care, investing the time and effort to ensure that we maximize your return and minimize the time on the market.
Breezeway is based in the Toronto area, and our team of yacht broker covers St. Catharines and the Niagara Region to the GTA, from Hamilton and Oakville to Pickering and Oshawa. To the east, we have brokers covering Cobourg, Belleville, Prince Edward County, Picton, Bath, and Kingston, through the Thousand Islands and up to Ottawa.
SELLING or BUYING, our goal as Yacht Brokers is to secure the best deal, and conduct the transaction seamlessly and effortlessly, with emphasis on security, promptness and diligence.
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