Out now: Clyde & Co podcast series two
In the first episode of the new series, Jamie Edmiston, CEO of Edmiston, gives his insights into the buying process for prospective owners…
Clyde & Co has a leading yacht and superyacht team with over 20 years of experience. This second series of the Clyde & Co podcast seeks to demystify the process of buying a superyacht. Yacht brokers, family office advisers and bankers, as well as senior Clyde & Co lawyers join superyacht industry commentator John Leonida over the course of the next six weeks to discuss every aspect of buying a superyacht. We hope you enjoy listening.
In episode one, Jamie Edmiston, CEO of luxury yacht broker Edmiston, runs the listener through where to start when buying a yacht. From brokerage to build Edmiston describes how to make the most of the process of buying a vessel. Speaking candidly, Jamie Edmiston explains the difficulty of finding a good broker where the entry bar is low.
He argues that a good broker ensures the buyer finds the right superyacht, even if that is one the yacht broker is not representing and anticipates what disturbances might cause waves in the acquisition process. Helping the owner navigate the process from intelligence about specific superyachts, the broker must be able to market information with the ability and foresight to negotiate all the commercial terms before the deal is handed over to the lawyers.
Edmiston comments on what kind of position a buyer must find themselves in before even considering a purchase. Bearing in mind the expenditures of maintaining a yacht, Edmiston’s key piece of advice before even considering such a purchase is:
"Only buy a boat if you can afford to give it away."
Edmiston goes on to discuss the advantages of having a yacht for high-profile individuals for business matters and to experience quality time with friends and family. Recalling a note from a client who had historically rented villas where the children spent all their time playing video games and headed off to sample the nightlife of the town they were in, but on the superyacht? They watched movies together, they had nice dinners and played games in the evening. They spent time together; they did things with their children and the children enjoyed it and, more importantly, the children wanted to spend time with their parents. He refers to the importance of privacy:
“It goes without saying that these yachts operate with a high level of privacy and people can be themselves and can relax and shake off the heavy burden that comes of being a high-profile individual.”
Edmiston also refers to the process of the owner working with the engineers and the shipyards in creating something that is bespoke to them and his dream sailing location. Please click here to link to the full first episode of season two of the Clyde & Co podcast, and the full back catalogue from season one.
Image credit: Monaco Yacht Show
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