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Winter Issue
2020 has been an interesting year, to say the least. We started out the year with boundless enthusiasm. The economy was booming, the stock market was at an all-time high, and the luxury sector looked strong; and then, 5 letters, 2 numbers, and a global pandemic shook the very foundation of our country: C.O.V.I.D.1.9.
I remember having a very specific conversation with the owner of Nautikos - Leonardo Carbajales. We agreed, that come or hell or high water, we would sell at least one new boat during COVID, which at the time, was supposed to be over by Summer 2020.
At the height of the lockdown, we were sneaking in and out of Marinas, and surveying boats anywhere we could find open and willing to haul us out. It truly was a bizarre world we were living in. Well, we closed our one new yacht and were pleased as punch with our selves. We thought we had achieved the impossible. Little did we know of the Tsunami of boat sales which awaited us right around the corner. But, the question everyone is asking: Why?
A perfect storm is defined as "A particularly bad or critical state of affairs, arising from a number of negative & unpredictable factors.". By all intents and purposes, we were living in a perfect storm. Between rising tensions of our political climate, smack in the middle of an election year, and a global pandemic with no end in sight. We were looking into the barrel of a very large gun.
What happened next was astonishing. The phone started to ring in early April and hasn't stopped. The negative and unpredictable factors actually pushed our industry to unprecedented heights. I think we can attribute this surge of activity to a few compelling reasons. First, and probably the most obvious; is the fact that luxury motor yachts are a natural covid free zone, or a "bubble" in which one can escape with loved ones and feel infinitely more secure, while enjoying everything that luxury yachting affords. Secondly, and a little more morbid, covid has forced many people to face their own mortality. We will not live forever, and no amount of money sitting in the bank will make up for a lifetime of missed adventures and opportunities to live life to the fullest. The third, and most overlooked component to our perfect storm, is financial. At the beginning of covid, a lot of people lost a lot of money very quickly, literally overnight, 25% was wiped off the balance sheet from many portfolios. We all know boats depreciate, but it takes at least two years to lose 25%. All of a sudden, owning a luxury yacht didn't look like that bad of an investment.
Regardless of what has been propelling our industry, we are forever grateful. We fully understand that everything has a price, and for every thriving industry, there is someone on the other side with equal and opposite hardships. However, it is with great pride that we continue to reach for new heights, providing our clients with outstanding service, while at the same time, employing as many people as possible throughout all levels of our industry.
- James Carter, Sales Director at Nautikos -
The next 12 to 24 months will be full of uncertainties. As major international boat shows are either scaled back or canceled completely, companies are exploring different ways to reach their customers. Small scale open houses and mini boats shows, 3d virtual walkthroughs, and in-person walkthroughs, are some of the different ways we are reaching out to our customers.
NAUTIKOS FLORIDA
The phone started to ring in early April and hasn't stopped
EDITOR'S LETTER