It was not that long ago when companies involved in the yacht sales process had clearly defined areas of expertise, responsibility with relatively limited geographic reach.
They were new boat dealers in Virginia, a charter company in the Caribbean or yacht brokers in Seattle and the like. That has changed quite dramatically as is evidenced by the recent activities of two of the larger “yacht brokers” here in the US.
In April, MarineMax, based in Clearwater, FL and the nation’s largest recreational boat and yacht retailer, announced it had completed the acquisition of Russo Marine. Russo was the largest privately held boat dealer in the Northeast and served the Massachusetts and Rhode Island coastal markets.
MarineMax now has 56 retail locations in 16 states as well as operating MarineMax Vacations in Tortola. It sells new (16 brands) and used recreational boats and related marine products and services, as well as provides yacht brokerage and charter services.
At the beginning of May, Denison Yacht Sales, based in Ft. Lauderdale, FL, announced its opening of four new marina office locations – one in Annapolis, MD, one on the Hudson River across from the lower tip of Manhattan and two in Newport, RI. Denison Yacht Sales now has 19 sales offices (in 10 states) including one in Hong Kong, Puerto Rico, and the US Virgin Islands. The company currently provides complete yachting services worldwide, from sales (both new (six brands) and brokerage) and charter to yacht management and new construction.
In both instances the raison d’etre is to provide all the services their boating clients need, wherever they need them.
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