Challenges For Boat Buyers As Delivery Times Increase During Record Sales During Covid Pandemic

From run-about to superyachts, yacht manufacturers around the world are reporting record sales and increasing order books. CNBC reported that dealers are becoming unable to keep up with orders (read full story).

What does this means for boat buyers? It means vastly longer delivery times and an increasing exposure to exchange rate fluctuations where the pricing of the boat is not in the buyers local currency.

Dealers of smaller boats often hold a fairly healthy inventory with boats for immediate delivery. Most of this stock has gone and just like superyachts built to order, buyers are having to wait several months if not years and having to pay fees to secure a build slot. An enquiry into Pogo Yachts this week gained a response of a delivery time of over 3 years for a 44 footer!

This means a buyer not only has to wait longer than usual for their yacht, but they are also exposed to currency fluctuations when the shipyard currency is not the same as what they hold. This can bring huge fluctuations, both positive and negative, but makes for a very uncomfortable ride for the buyer and some pretty serious risk.

YOPTION$ was created to provide solutions for this very scenario. We work with fully FCA regulated hedging partners to enable the buyer to lock in an agreed exchange rate to protect from downside swings and also benefit from any upside swings. The uncertainty is removed and the buyer can get on with life whilst dreaming about their future cruising.

YOPTION$ also enables boat dealers to sell boats in their local currency where it is different from the shipyard currency. This means they are "talking the language" of the buyer and all uncertainty over exchange rate risks is removed.

Find our more about how YOPTON$ work.

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