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According to an article in the Miami Herald, the Fort Lauderdale International Boat Show continued to draw large crowds of lookers, but not necessarily – buyers. “A sea of white fiberglass spilled into the Intracoastal Waterway as more than 1,500 boats -- from inflatables to superyachts -- awaited buyers Thursday on opening day of the 49th Fort Lauderdale International Boat Show. Despite predictions by organizers that overall attendance would be down 10 percent due to the sagging economy, large crowds walked the docks -- though most were window shopping, not writing checks.
Neal and Maura Mitchell, of Lighthouse Point, said they were at the show to look but not purchase. ''We're going to roam around and look around and dream a little, but probably not buy because things are tough this year,'' Neal Mitchell said. For those in the market for a new boat, paying for it will not be as easy as it was just a few months ago. Allan Baum, vice president of Fort Lauderdale-based mortgage broker Elite Financial, said he has been doing significantly less business since July.
Baum, who typically finances purchases of boats costing between $100,000 and $1 million, said it was the more expensive vessels that were still being sold. ``The little boats -- 20 to 25 feet -- that market is dead. You can't give those boats away.'' Despite the credit crunch, Baum said financing is still available for qualified buyers. ''I have banks that are lending,'' he said, adding that he was offering all those who qualify a 6.65 percent fixed interest rate. There were also a few positive signs. Show organizers said there is a slight uptick in fees from exhibitor registrations, and advance ticket sales on the Internet were up.
''I'm stunned at the size of the turnout,'' said Dane Graziano, chief operating officer of the show's producer, Show Management. ``The lines are as long as they've ever been. It's a good sign.''
“Despite rough economic times, the Fort Lauderdale International Boat Show opened to large crowds. But few of the visitors are buying the luxury yachts on sale.”
- Miami Herald 10.31.2008 |
Despite the current recession, plans are in the works for many Fort Lauderdale International Boat Shows to come. At a press briefing Thursday morning, organizers announced a planned $500 million renovation for the Bahia Mar Marina that will include a public park and new Waldorf Astoria hotel.
Show Management announced that it had signed a deal to keep the show at Bahia Mar through 2020.
Sales Broker Christine Buttigieg said, “It was quite pleasant to be able to talk to almost everybody who came onboard the L 420. The response was great as most of the visitors love the volume, the brightness, the panoramic view, the layout, the flush deck and the high bimini.” Christine received over 20 inquiries on everything from new Lagoons to owners of sailing mono-hulls interested in trading up to a cat, as well as a powerboat owner who wants to trade up to a cat.”
Fortunately for them, The Catamaran Company will soon add a special section of the website (www.catamarans.com) called FOR TRADE ONLY. This new area of the website will be devoted solely to those interested in trading their boat for the Cat of Their Dreams. You may have an large RV or a mono-hull and want a nice new Lagoon. We’ll help to find ways to get you into that Lagoon in exchange for your Real Estate, or other property such as cars, RV’s, boats or bikes.
Brokers also found that Boat Show patrons were increasingly interested in the new Fractional Ownership Program just started by The Catamaran Company. And, as usual, the Charter Division received plenty of interest in great getaways to the BVI’s and The Grenadines.
Learn more about The Catamaran Company’s Fractional Ownership Program by going to:
http://www.catamarans.com/fractional_ownership/index.asp
Check back often to see all the new information on everything Catamaran on our website.
Read the whole story at: http://www.miamiherald.com/business/story/749329.html
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